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Real estate investment management firm MacFarlane Partners and private land owner and real estate developer The JBG Cos. recently formed investment venture JBG Urban L.L.C. to develop properties in the Washington, D.C., area., including land surrounding Washington Metropolitan Area Transit Authority (WMATA) stations.

The firms will develop or redevelop 42 sites throughout the District of Columbia, and suburbs in Maryland and northern Virginia. About 60 percent of the sites are near existing or proposed WMATA stations.

The development sites include:
• Twinbrook Commons, a 26-acre mixed-use transit village under development near the Twinbrook Metrorail station in Rockville, Md., that will feature rental apartments, and retail and office space;
• Central Place I and II, which calls for redeveloping a full city block in Arlington, Va., directly above the Rosslyn Metrorail station into office, retail and multi-family residential space;
• Rosslyn Gateway North and South, two office buildings near Rosslyn Station that will be redeveloped into a mixed-use project with office, retail, hotel and multi-family residential space; and
• Capitol Square, a planned 1.6 million-square-foot mixed use development at the intersection of New York Avenue and First Street in D.C. that calls for constructing multiple buildings featuring retail, office, hotel and multi-family residential space.

Construction and renovation work on several sites already is under way and scheduled to conclude between 2008 and 2013.