Zoning Rewrites, Business Parks And A Steady Stream Of Data Centers: The Latest In Loudoun County
1. At Bisnow’s Future of Loudoun County event at Ashburn's Loudoun Station in July, local developers and officials gathered to discuss how the county is overhauling its zoning map for the first time in two decades. The new policy will override the 2003 guidelines used to determine what type of development is allowed on a site.
2. Data centers continue to dominate Loudoun County’s commercial real estate market. According to the 2023 annual reassessment presented by Commissioner of the Revenue Robert Wertz and his staff, the value of data center real estate increased by $6.6B, or 56%, last year. Commenting on the increase, the Loudoun-Times Mirror wrote, “The news means that county supervisors will have available a robust commercial tax base as they begin the budget development process for fiscal year 2024.”
3. In May, construction started on Arcola Center, a 34-acre business park at the intersection of Loudoun County Parkway and Dulles West Boulevard. The first phase will focus on four buildings ranging from 22K SF to 45K SF. These will be the first of the 10 one-story speculative flex, research and development, and office buildings that will make up the development.
4. Microsoft has acquired a 14-acre parcel at 23540 Pebble Run Place in Sterling, Data Center Dynamics reported last month. While the company didn't comment on the purchase, the property is zoned for data center construction, and it has been speculated that the company will use it to expand its vast data center portfolio.
5. JK Land Holdings announced in July that it has completed the conservation easement process with Old Dominion Land Conservancy for four Loudoun County properties totaling 745 acres. This move will protect the properties, which are made up of wetlands, woodlands and farmland, as well as some historic structures, from future development.
6. In May, the Loudoun County Board of Supervisors voted unanimously to approve Rivana at Innovation Station. This 6.4M SF development has been in the works for 15 years. Current plans call for the site to include more than 2,700 apartments or condominiums, 450 hotel rooms, 2.4M SF of office space, 347K SF of commercial space and 127K SF for civic uses, the Loudoun Times-Mirror reported.