Developer plans $1.3B VA mixed-use complex
- A Virginia developer has proposed a $1.3 billion mixed-use project for the Washington, DC, suburb of Tysons Corner, VA, according to Virginia Business.
- Clemente Development Co. said the 2.8-million-square foot, five-building project — called The View at Tysons — will include almost 530,000 square feet of office space, nearly 112,000 square feet of retail, 786 apartments, 320 luxury condominiums, a hotel and a performing arts venue.
- Project officials said that they have already invested approximately $1 million in preplanning and design costs and have the property, a 7.4-acre parcel located next to a Metro station, under contract. The project is fully funded, but the company still must win rezoning approval, which is expected to take 12 to 18 months.
The DC area has seen a surge of mixed-use development, responding to the demand for work-live-play urban areas and representing a shift away from the traditional commuting lifestyle.
Another planned suburban DC project is a 31-acre, $650 million mixed-use project in Rockville, MD. The Lantian Development project will offer up 100,000 square feet of retail, a hotel, 300 townhouses, 200,000 square feet of office space, and more than 1,500 apartments.
The most recent example of the trend toward mixed-use in the DC area is the $1 billion transformation of a 66-acre portion of the historic Walter Reed medical campus into a complex that will include 2,100 for-sale and for-rent residences, up to 250,000 square feet of retail, 85,000 square feet of office space, a hotel and conference center, art and cultural space, two language-immersion charter schools and 20 acres of green space. Sticking to its medical history, the project will also feature a 116,000-square-foot Howard University Hospital facility.
The District's waterfront is also a popular area for development. The Wharf, currently under construction, is a $2 billion mixed-use project on the Potomac River that will include office, retail, residential and the city's first pier-top office building, Pier 4.
- Virginia Business Clemente Development Co. proposes new mixed-use development for Tysons Corner
- Washington Business Journal Virginia developer eyes Tysons for region's tallest building — by far
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