CoStar, which is moving its headquarters to the Rosslyn area of Arlington, Va., will pay nearly $14 million to the county to obtain sole use of this observation deck at its new building at 1201 Wilson Blvd. The real estate analytics company CoStar Group will move its headquarters from downtown D.C. to Arlington, Va., the company said Tuesday, dealing a blow to a struggling part of the District while offering another economic development coup to Virginia.
Virginia Gov. Glenn Youngkin approved nearly $5 million in public funds for the company to facilitate the move. The company, which employs about 650 people in its D.C. office, has purchased a Rosslyn office building that it plans to move into later this year. CoStar will also pay nearly $14 million to Arlington to obtain sole use of an observation deck at its new building at 1201 Wilson Blvd., which is now open to the public. Arlington officials said they would use that money for a planned reconstruction of Rosslyn’s Gateway Park.“CoStar Group’s strategic move to Arlington reinforces our attractiveness as a hub for innovative global businesses,” Arlington County Board Chair Libby Garvey said in a news release.