If you don't see images, click here to view
To ensure delivery, please add mark@bisnow.com to your address book, learn how
Send story ideas (anonymously)  Events 
| Forward to a Friend
Real Estate Bisnow
Legal BisnowWomen BisnowTech BisnowAssociation BisnowNYC Real Estate
September 11, 2008

We promised you a superstar broker to interview the developers on the panel at our Fall Real Estate Conference. Drum roll: Jones Lang's (formerly Staubach's) renowned Rob Copito. He joins Vornado Charles E. Smith chief Mitchell Schear, who will question the brokers. Join us in the fun with 12 industry titans, Thurs, Sept. 18. Big thanks to sponsors RBS Citizens Bank, Group Goetz Architects, Holland & Knight, and Reznick Group. Details and signup!


To get the most bang from the $9.50 in VA-267 tolls we paid to get from D.C. to Leesburg the other day, we also swung by Reston Town Center to look around. Yes, it's still there. And, as the suburbs go at the moment, booming. And, we're told, about to boom some more.  


We popped in on Cooley Godward Kronish to ask go-to suburban zoning attorney Tony Calabrese what's the big story. To which he replied not only by saying Metro's Silver Line extension, but by lifting this map. It shows (you'll have to take our word on this) how the proposed Silver Line will extend through Tysons to Wiehle Ave in eastern Reston (Phase I), and through Reston and Herndon to Dulles Airport and Route 772 in Loudoun (Phase II). Tony says it will forever change development along the Dulles Corridor, and that re-zoning around the new Reston stations will change their character from commercial and industrial to mixed-use.


Cooley real estate mavens John Toole, Jack Lavoie, and Mark Looney join Tony (second from right) outside Cooley's watering hole. What else is happening in the neighborhood?  Lerner was just approved (credit Mark Looney) for the redevelopment of The Spectrum at Reston Town Center, currently anchored by Best Buy and Harris Teeter. It'll have 1,450 high-rise residential units and 1 M SF of office, hotel and retail. Although no one should need to leave Reston with all these amenities, John returned from a golf vacation in Scotland; he played St Andrews (sans kilt) but says the links at Kingsbarns were his favorite. For their summer fun, Jack took his family to the N.J. shore, Mark celebrated his son's first birthday in the Outer Banks, and Tony hunkered down in an Orlando hotel room with his wife and three daughters courtesy of Hurricane Fay.


If Virginia's a presidential battleground this fall, Randy Minchew's in the thick of it. The managing partner of law firm Walsh Colucci's Loudoun County office can be seen above in his recent starring role as a Virginia delegate at the Republican convention. Since he's a major real estate guru, however, we're going to assume his thumbs up is not a political statement, but refers to the Silver Line, which he tells us will make Loudoun County Parkway a "premium corridor," invigorating Rte. 7 at its north end and the Dulles Greenway at its south end. He also thinks Metro will help Loudoun compete for deals with GSA, which favors proximity to rail transport, and that Moorefield Station and Loudoun Station will have a positive domino effect on surrounding areas, just as mixed-use has in Reston, Tysons and Ballston.


No, he's not ordering more yellow highlighters. Randy says highly liquid opportunity funds (a.k.a. vulture funds) are waiting to "hear the pin drop at the bottom of the barrel," his metaphor for the beginning of the economic upturn he thinks will come in Q3 '09. He says the last boom in Loudoun ran from '03 to early '07. Back then, production builders such as KB Home and Toll Brothers bought land, got entitlements, built and marketed. In the next upturn, Randy predicts more lot take-down deals (buying individual lots, not big chunks of land) a la NVR. Randy says zoning amendments enacted in '03 will foster opportunities for Loudon's rural economy. Since then, wineries, B&Bs, equestrian ventures, farmers' stands and other "agri-tainment" spots haven't needed special permits to do business. Randy also thinks gas-conscious day-trippers and weekend-overnighters will fuel the county's tourist trade.


Bisnow hosted sponsors and friends for tempura and sushi this week at the new Sushi Ko in Chevy Chase. From left, Reznick Group founder Dave Reznick, Eastbanc's Joe Sternlieb, Bisnow's Aram Taghavi, Mervis Diamond chief Ronnie Mervis, Matan's Mike Jezienicki, Gilbert Randolph's Scott Gilbert, and Trinity Construction CEO Flip Wallen. Joe tells us Eastbanc's raising a fund to acquire land in DC to develop during the next cycle. Flip started his firm six years ago and has grown from $250k in revenue to over $70M. In addition to economic conditions, Flip and Scott talked motorcycles. Since 1990 Scott estimates that he's owned 35 bikes.

Sept 18 Bisnow Fall Real Estate Conference Sign up


Arnold & Porter
Ballard Spahr
Advertise with Bisnow
CONTACT EDITORIAL                             CONTACT ADVERTISING                              CONTACT GENERAL INFO

This newsletter is a journalistic news source which accepts no payment for featured interviews. It is supported by conventional advertisers clearly identified in the right hand column. You have been selected to receive it either through prior contact or professional association. If you have received it in error, please accept our apologies and unsubscribe at bottom of the newsletter. ? 2008, Bisnow on Business, Inc., 1323 Connecticut Avenue, NW, Washington, DC 20036. All rights reserved.

| Subscribe | Forward to a Friend
Arlington Economic Development Arlington Real Estate Showcase Registration The JBG Companies Monday Properties