22 Capital Partners Joins Forces With Microsoft For $500M Ashburn Development
Local developer Minh Le and his company, 22 Capital Partners, have plans for an absolutely massive development adjacent to the planned Ashburn Metro station in Loudoun County, and have landed Microsoft as both a co-investor and as the creator of a “smart city.”
Le is proposing a $500M, 2.5M SF development known as Gramercy District. The development site is a 16-acre tract that fronts the north side of the Dulles Greenway, and adjacent to the planned Silver Line stop, the Washington Business Journal reports.
Gramercy District is planned for multiple phases and set to include residential, offices, retail, a hotel and a high-tech business center. Microsoft’s role will be to help build the blueprint for an “intelligent living platform,” which will be aligned with the company’s CityNext program. CityNext focuses on smart buildings, neighborhood management, sustainable land use and operations management, placing Gramercy District in line to be a “smart city.”
Phase 1A of the project is tentatively scheduled to deliver in Q3 2018, so we have time to wrap our heads around the coming “smart city,” but the proposed development is another sign that Loudoun is headed toward its next building boom. [WBJ]