Akridge Sells Interest In Loudon Parkway Center Near Future Silver Line
Akridge has sold its stake in a proposed transit-oriented project on Loudon County’s Silver Line corridor.
The company has sold its interest in the planned—but not yet entitled—Loudon Parkway Center to its partner, Detroit-based Soave Enterprises. Soave has requested a meeting with Loudon County planners to discuss the future rezoning of some of the vacant land associated with the project, the Washington Business Journal reports.
Soave has assembled 160 prime acres along the corridor within one mile of both the Loudoun Gateway and Ashburn Metro stations, both of which are slated to debut in 2020. Although, based on the delays for Phase 1 of the Silver Line, and the fact that Phase 2 was originally scheduled for 2018, no debut date is safe to bank on.
Akridge’s original plans for Loudoun Parkway Center called for four Class-A office buildings, 75k SF of retail, nearly 1,000 residential units and a 200-room hotel.
There's no word on how much of Akridge’s plans will be retained by Soave, but Loudoun County has been noted as an area in need of more mixed-use development to continue its impressive growth spurt. As for Akridge, the company continues to have plenty in the pipeline to focus on, including the massive Burnham Place project and another trophy office building in the West End. [WBJ]