The applicant, MCP III Arlington LLC, proposes to build a six-story mixed-use building on approximately 63,141 square feet of land on the site currently occupied by the Bank of America office building, associated drive-through and a surface parking lot. The proposal includes 250 new residential units, approximately 5,000 square feet of ground floor retail, and 2.5 levels of below-grade parking containing approximately 287 parking spaces.