In The Works: Top 3 Developments In Tysons
The View at Tysons
Developer: Clemente Development
Fairfax County has given its stamp of approval to a 3M SF mixed-use development at the Spring Hill Metro station. Clemente Development’s View at Tysons is slated to include a 600-foot office tower, which will eclipse Capital One’s headquarters as the region’s tallest building, and may become the tallest building in Virginia.
Though the View had been proposed in 2017 as a hotel and condo development, Clemente has pivoted and is planning 1.4M SF of office, 1.4M SF of residential space, a 300K SF hotel and 110K SF of retail. The development, which surrounds a public plaza, will also feature a 26K SF black box theater.
The 600-foot office, branded as the Iconic Tower, can already be found on Google Maps, but groundbreaking will probably not begin until Clemente has secured an anchor tenant for the office space and a hotel brand with which to partner, Bisnow previously reported. And though the zoning for the project has been approved, the View will likely remain in a site plan review process for the next six months.
Developer: PS Business Parks, Kettler
Indicative of the growing need and appetite for housing in Tysons, PS Business Parks is looking to convert a 38-acre office park in a 3M SF mixed-use development with an emphasis on residential. A half-mile north of the Tysons Corner Metro station, the Mile would consist of 10 buildings.
The first of these buildings, the Highgate, is already finished, and following its completion, PS Business Parks unveiled its plans for the rest of the property. The developer partnered with Kettler on that first phase and is working with Kettler — which is headquartered not far away on Greensboro Drive — for the rest of the project as well.
The plans include multiple options for some of the 10 buildings, but the final product is expected to include between 1.9M and 2.8M SF of residential, up to 535K SF of office space, 340K SF of hotel space, 120K SF of retail and 300K SF of self-storage.
Foulger-Pratt is breaking ground on a 25-story office tower near the Greensboro Metro station to be called Tysons Central. The 384K SF space is being built on spec, a vote of confidence for the Tysons market, which some worry is becoming overbuilt with office.
USAA Real Estate joined in on the $200M project as an equity partner in September 2018, according to the Washington Business Journal, and the development team is working with architecture firm Gensler to design and deliver the project by 2021. The building will feature a two-story lobby, plus a “sky lobby” on the rooftop, as well as private terraces throughout the floors.
While Foulger-Pratt CEO Bryant Foulger told Bisnow that “going spec is a nerve-rattling experience,” he said he is encouraged by the strong leasing he sees nearby. Indeed, Tysons Central will find itself steps away from Boro Tower, a 20-story office tower that only had one 60K SF tenant signed on when it broke ground, but delivered with more than 70% of its space leased.