LMC Announces Groundbreaking of Lumen at Tysons Apartments

TYSONS, Va., Nov. 8, 2016 /PRNewswire/ -- LMC, a leader in apartment development and operations, today announced the groundbreaking of Lumen at Tysons, a mixed-use apartment community located in the heart of Tysons, a culturally-rich, rapidly-developing city on the edge of the Washington, D.C. metro area.

The community, part of LMC's emerging presence in the Mid-Atlantic Northeast, will feature 32 stories, 398 apartment homes and more than 11,000 square feet of retail space on the ground floor. Lumen at Tysons was unveiled during a groundbreaking ceremony on the construction site in October. Steve Saville, project lead for architect DCS Design, Sharon Bulova, chairman of the Fairfax County Board of Supervisors, and Michael Caplin, president of Tysons Partnership, shared their thoughts about the positive impact the community will have on the neighborhood.

"Lumen at Tysons will offer a suite of unparalleled amenities on multiple levels throughout the high-rise, creating both a visual aesthetic and a true cutting-edge experience for our residents," said Stuart Cain, LMC's vice president of development for the Mid-Atlantic Northeast, about the community, which could be open for first move-ins as early as Fall of 2018. "We believe the thoughtful design, combined with the LMC's hospitality-driven services, will make the community the finest in the surrounding area and one with long-term, sustainable value."

Lumen at Tysons, built in conjunction with TEGNA Construction, benefits from a prime location in an international shopping district. Super-regional malls Tysons Corner Center and Tysons Galleria offer a variety of local and national retail options, including various high-end outlets. Among them are Apple, Coach, Gucci, Louis Vuitton, Macy's and Nordstrom.

From its convenient location along the Capital Beltway (Interstate 495), the Tysons area offers expedient access to professional jobs throughout the metro area. Many prominent employers are rooted in Tysons, including MC Dean, TENGA, Ernst and Young, MITRE, Capital One, Booz Allen, CVENT Headquarters, Hilton Worldwide, Freddie Mac, Intelstat and SAIC. The vibrant, transforming area also is home to several local businesses and vast cuisine options, including highly acclaimed Eddie V's Prime Seafood, Earl's Kitchen + Bar, The Capital Grille, Barrel & Bushel, Nostros Restaurant and Chima Brazilian Steakhouse to name a few.

Situated at the epicenter of Tysons, adjacent to the Greensboro Metro Station and flanked by Naturel's Tysons Water Lillies murals, Lumen at Tysons' 32 stories will rise over the next two years. Once complete, its apex will boast the highest elevation in Fairfax County. LMC will aim to further cultivate the spirited, eclectic atmosphere of the neighborhood with the development of the community.

Apartment interiors will feature high-end appliances and finishes with help from Faulkner Design. Land Design will assist with the landscaping for the community and the civil engineer for the development is Vika. The community's retail outlets are still to be determined.

About Lennar

Lennar Corporation, founded in 1954, is one of the nation's largest builders of quality homes for all generations. The company builds affordable, move-up and retirement homes primarily under the Lennar brand name. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. The company was the recent recipient of $250 million in additional funding to its Lennar Multifamily Venture fund, to bring its total to $2.2 billion. Lennar's Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of the company's homes and others. Lennar's Rialto segment is a vertically integrated asset management platform focused on investing throughout the commercial real estate capital structure. Previous press releases and further information about the company can be obtained at the "Investor Relations" section of the Company's website, www.lennar.com.

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SOURCE LMC

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