Carr Properties Forms Joint Venture with Northwestern Mutual to Develop 3033 Wilson Boulevard
March 24, 2026
Northwestern Mutual investment supporting 315‑unit residential development in Clarendon
Carr Properties, a leading owner, operator, and developer of premium office and residential properties, today announced the formation of a joint venture with Northwestern Mutual to fund the development of 3033 Wilson, the firm’s luxury residential development in Arlington, Virginia. Northwestern Mutual is also providing a construction loan for the project. Construction is expected to commence in April 2026.
“We are excited to work alongside Northwestern Mutual on this luxury development project in the heart of Clarendon,” said Oliver Carr, CEO of Carr Properties. “Northwestern Mutual is a preeminent investor and their investment reflects their support of our vision to develop a thoughtfully designed residential community in one of the region’s most dynamic neighborhoods.”
Located directly across from the Clarendon Metro station in Arlington, 3033 Wilson is being transformed from a vacant office building into an eight-story, 315-unit multifamily development with 6,000 square feet of ground-floor retail and modern amenities. The project will include a best-in-class fitness center, coworking lounge, landscaped courtyard with a community garden, rooftop pool deck, and clubroom, as well as a dedicated wellness spa. Sustainability is central to the redevelopment, with the project preserving the existing 160,000-square-foot below-grade parking structure, significantly reducing the project’s embodied carbon. The building will utilize high-efficiency heat pumps and is targeting LEED Gold certification through Arlington’s Green Building Incentive Program.
“We are pleased to support 3033 Wilson, a project that reflects strong fundamentals and long-term potential,” said Eric Ekeroth, Mid-Atlantic Regional Director of Northwestern Mutual. “Carr’s strong track record of delivering high-quality developments in the region and disciplined approach to development made this a compelling opportunity for us. Arlington continues to demonstrate durable demand for quality multi-family housing, and we believe this development is well-positioned to serve the community long-term.”
3033 Wilson is a key component of Carr’s growing residential portfolio and represents Carr’s second residential redevelopment in Northern Virginia. Additional residential redevelopments at 425 Montgomery in Alexandria and 2121 Virginia Ave in Washington, D.C. are also underway.
