The Commodore is now leasing in Arlington, VA. Developed and managed by Greystar, one of the global leaders in rental housing, the 20-story, 423-unit building is located at 2025 15th Street North. Greystar partnered with Ori to deliver 35 Expandable Studio units at the property, featuring the Ori Cloud Bed Sofa and the Ori Pocket Closet.
Apartments at The Commodore range from 333 sqft micro-units to 1,700 sqft 3-Bed penthouses. The Greystar team initially decided to introduce micro-units in response to restrictions within their building design, however micro-units are new to the Arlington market, making the downsized floorplan a strategic, but risky, play to appeal to younger renters. The Greystar team turned to Ori to help derisk the micro studio investment, by creating more storage and living space for the residents.
The Commodore is located in the Clarendon-Courthouse neighborhood, where the average studio is 605 square feet. The Cloud Bed Sofa and the Pocket Closet function together to create additional square feet of Expandable space, allowing the smallest Ori Studio to function more like a 450 sqft apartment. Due to their smaller size, Ori Studios are priced at a discount to comps in the market; however, they are currently leasing at a premium of $5.57/sqft, compared to the Arlington studio average of $4.09/sqft. Ori Studios also come semi-furnished, with a brand new mattress, bed and couch and built-in walk-in-closet storage, providing renters additional up-front savings.
In addition to the in-unit Ori features, The Commodore offers 24/7 concierge service, a fitness center, kitchen and dining area, children's playroom, clubroom, and a coworking space. Outdoor amenities include a park-view pool and rooftop overlooking the Washington, D.C. skyline. The building's ground level has over 18,000 square feet of retail space, catering to residents with a range of local entertainment, dining, and services. Additionally, The Commodore is centrally located and just minutes away from the Courthouse Metro station, a convenience for young professionals working in the Arlington area or in adjacent D.C. neighborhoods along the Orange Line.
The Ori team is looking forward to a successful lease-up and partnership with the Greystar team, as stated by CEO Hasier Larrea: "It's always exciting to work with an outstanding partner like Greystar, who manages many other Ori buildings around the country. This new partnership with The Commodore, represents our first time working with Greystar's development arm and will further showcase the strength of demand amongst renters for Expandable, Semi-Furnished studio apartments like Ori Studios.”