The Latest Progress On Fairfax County And Loudoun's Largest Ongoing Developments
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From Tysons to Reston to Ashburn, Northern Virginia has tens of millions of square feet of development under construction outside the Beltway. On NAIOP's annual Northern Virginia's Bus Tour Thursday, Bisnow saw the latest progress on several of the region's largest projects.
The 20-story Boro Tower Meridian Group and Rockefeller Group are developing at The Boro in Tysons topped out last month. The 437K SF trophy office building has already signed media company Tegna for 60K SF and law firm Hogan Lovells for 45K SF.
The $825M, 1.7M SF first phase of The Boro development, expected to be completed later this year, will also feature 700 residential units, which Kettler is building, and 260K SF of retail anchored by a 69K SF Whole Foods and a 15-screen ShowPlace ICON Theatre. The full development is slated for 1.8M SF of office, 1,500 residential units, 316K SF of retail and 250K SF of hotel space.
Capital One's shiny new McLean headquarters is looking nearly complete. The 470-foot-tall building will be part of a 24.5-acre campus that will include 1,200 residential units, 250K SF of retail anchored by Wegmans and a 125K SF performing arts center.
Bozzuto Group and developer Chuck Veatch cut the ribbon last month at Aperture, a 421-unit Reston apartment building. The five-story project sits at 11410 Reston Station Blvd., near the upcoming Wiehle-Reston East Metro station and Comstock Partners' Reston Station mixed-use development.
Greystar is nearing completion on its 457-unit Exo apartment building in Reston. The two-building, 16-story project at 1900 Oracle Way is expected to deliver this summer. It will feature a clubroom, fitness center, yoga studio, outdoor pool and high-tech windows from View Dynamic Glass.
JBG Smith recently completed the first phase of RTC West, a mixed-use development in between Reston Town Center and the upcoming Silver Line station. The first phase renovated three existing office buildings and added 40K SF of retail, including a Cooper's Hawk Winery. The second phase, still in planning, is slated to include three new office buildings totaling 650K SF and two residential buildings totaling about 700 units.
Also in Reston, JBG Smith is putting the finishing touches on its Vy at Reston Heights apartment community. The 385-unit building at 11830 Sunrise Valley Drive is part of a mixed-use development that includes 318K SF of existing office space and a 300-room Sheraton hotel. It also has 55K SF of retail delivering this quarter with tenants such as Super Chicken, Allure Nails, Signature Thai, Reston Khabab and WillPower Functional Fitness.
Construction is well underway on the six new Metro Stations that will open with Phase 2 of the Silver Line, expected to be completed in 2020. Three of them will be in Fairfax County — the Reston Town Center, Herndon and Innovation Center stations — with the remaining three, the Dulles Airport, Loudoun Gateway and Ashburn stations, in Loudoun County. The new stations are spurring a wave of development and office leasing activity.
The D.C. area's newest Wegmans is nearly complete in Chantilly, with an opening date of June 3. The 120K SF store is in the retailer's traditional, suburban-style model, while several of the future D.C.-area stores it has planned will be smaller and integrated into mixed-use projects. The Chantilly Wegmans is part of The Field at Commonwealth, Regency Centers' 186K SF retail development at Route 28 and Westfields Boulevard that will also include Cava Mezze Grill, Chipotle, Mellow Mushroom, My Eye Dr. and Pacific Dental.
Just off the interchange of Route 28 and Westfields Boulevard, Northwood Ravin and Van Metre Homes are building The Preserve at Westfields, a 650-unit development with rows of four-story townhouses and 15K SF of retail. Akridge had originally planned to develop on the site before selling it to Northwood Ravin, which broke ground in 2017 and expects to deliver the first units and retail early next year.
The newest residential community at One Loudoun is nearly complete. The project at the intersection of Loudoun County Parkway and Russel Branch Parkway features 160 condos and 28 townhouses, with Stanley Martin Homes managing the sales.
Miller & Smith last year sold the downtown retail portion of One Loudoun to Retail Properties of America for $163M. Trader Joe's recently signed on for its first Loudoun County location at the development.
Loudoun Station currently features the 358-unit BLVD apartments, 50K SF of office and a four-block retail plaza with an AMC Theatres and Blackfinn Ameripub. The second phase, which Comstock aims to deliver around the opening of the Silver Line station, is slated to include 319 multifamily units and a grocery store. The full development is entitled for 900 units, 500K SF of office and 200K SF of retail.
Top developers and brokers will come together to discuss Loudoun County's development at Bisnow's Loudoun County State of the Market & Schmooze May 8 at Village at Leesburg.