Boston Properties plans to begin work immediately on the final residential development planned for Reston Town Center’s urban core.
The Signature, a $150M, dual-tower apartment complex, is at the corner of Reston and New Dominion parkways and is expected to deliver in 2018, the Washington Business Journal reports. Plans call for a 21-story and a 19-story tower to include 508 units and two six-story low-rise buildings. The site is a 4.5-acre surface parking lot known as Block 4, which Boston acquired from Beacon Capital Partners for $27M in 2013.
HITT Contracting has been selected as general contractor. The partnership of Boston and HITT previously developed the 1.8M SF South of Market project, which is also in the town center.
Boston Properties is the sole owner of Reston Town Center, one of the most desirable pieces of real estate in the region, as of last month. In November, Boston completed a buyout of Beacon Capital Partners’ share of Fountain Square, a two-building mixed-use property in the heart of the town center. [WBJ]
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