Peterson Looks To Add 500 Residential Units To Loudoun County Retail Project

The Commonwealth Center development in Ashburn, featuring an iFly and a Topgolf.
The Commonwealth Center development in Ashburn, featuring an iFly and a Topgolf.

A 205-acre Loudoun County development planned for retail and entertainment uses could soon add hundreds of residential units.

Peterson Cos. filed plans Friday with Loudoun County to build 526 multifamily units at Commonwealth Center, citing challenges with retail leasing in its decision to shift the project's plans, the Washington Business Journal reports.

The development at the intersection of Route 7 and Loudoun County Parkway features entertainment anchors iFly and Topgolf. The remainder of the site had previously been planned for other entertainment and commercial uses such as a bowling alley, climbing gym, brewery and restaurants.

The new plan calls for adding residential to a vacant, 23-acre portion of the property. The developer is seeking to build a 272-unit apartment building and 254 two-over-two units.

The developer attributed the pivot to the lack of leasing momentum in the retail market, which faced challenges before this year that have been worsened by the coronavirus pandemic. It said in the application that adding residential will make the property more vibrant throughout the day and night.

Peterson Cos. President of Development Taylor Chess said at a June 2019 Bisnow event that Loudoun County needs more housing options.

"What Loudoun really lacks is the diversity of product type of housing to allow first-time homebuyers to come," Chess said. "A lot of kids who graduate from college who grew up here, I hear they can’t move back because housing prices are escalating. New developments need to emphasize workforce housing."

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

1375 Peachtree: A Bespoke Design Redefining The Midtown Atlanta Workspace

Loudoun County Moves To Pause Data Center Applications For 12 Months

Why Top-Secret Facilities Are Permeating Greater D.C.'s Office Market

Northern Virginia Office Tower Sells For Double Its 2024 Price

Battersea Power Station Reveals Plans To Double Development Again

Crystal Residences Offers A Model For Delivering New Housing And Lasting Community Benefits In Coral Gables

Design Plans Revealed For RFK Stadium Parking Garages, Headed To Review

Apartments Kick Off New Era Of Mixed-Use Activity In Philly Navy Yard

Security Tech Firm Plans Loudoun HQ Move: The D.C. Deal Sheet

Stephen Ross Expands Palm Beach Empire With Massive Boca Raton Campus

D.C. Investor Behind The Stacks Swaps CEO For First Time In 25 Years

Dallas Mavericks Launch Plans For New Arena-Anchored Entertainment District