Arlington’s Shooshan Co. plans to break ground in mid-March on a 17-story apartment building at Founders Square, a 1.2 million-square-foot development near the Ballston Metro station that has been in the works since 2007.

Shooshan affiliate Ashton Park Associates III LLC closed Feb. 24 on a $71.1 million construction loan to finance The Place, a 257-unit rental building slated for completion in 2013. Holliday Fenoglio Fowler LP directors Susan Carras, Walter Coker and Brian Crivella brokered the financing deal through SunTrust Banks Inc.