Showing posts with label Comstock. Show all posts
Showing posts with label Comstock. Show all posts

Monday, February 7, 2011

Comstock Partners made the expected announcement today that it has selected Davis Construction to build its underground garage at Reston Station, setting the stage for a "spring 2011" groundbreaking for the 1.3 million s.f. facility on the new Silver Line. Comstock had previously projected a March start to the project in order to get the garage open in early 2013 when the Metro line is scheduled to run its first train. Davis has already been at work building the other parking component on the site for Fairfax County, but today's announcement kicks off what will be the start of new "office, retail, residential and hotel uses in multiple buildings surrounding a public plaza," according to a Comstock press release.

Comstock's massive mixed-use project is planned 3/4 of a mile east of Reston town center, the developer plans to build the 500,000-s.f. residential component as the first step in the process. The two towers will have 205 and 370 units, 19.5% of it designated for workforce housing.






Reston, Virginia, real estate development news

Tuesday, December 14, 2010

After a lengthy hibernation in development limbo, Four Points LLC's W Street Townhomes, which earned HPRB approval in 2007 and a go-ahead from Zoning in 2008, is finally moving forward after developers announced their newly formed joint venture with Comstock Housing, a move that no doubt provided the capital injection necessary to jump-start a couple dormant projects. The project, now being nicknamed Cedar Hill, is planned for the corner of W Street and 13th Street SE; at roughly 40 units, it will be one of the most significant multi-unit residential construction projects to hit the streets of Historic Anacostia in many years.

The PGN-designed development will include a combination of larger, single-family townhomes and duplex-style units that double as condominiums. The seven single-family homes will each offer three bedrooms, a parking spot and a front yard. "What we tried to do is capture along W Street the historic nature of Anacostia," explains project architect Jeff Goins, "and then also create something unique for the neighborhood." Developers are waiting to hear back on their applications submitted for necessary building permits, but expect that they'll be able to break ground by mid-2011.

The joint-venture between Four Points and Comstock will also initiate redevelopment of a Lamond Riggs community, a development that went before the Zoning Commission as far back as 2006. The Northeast project that was most recently dubbed The Hampshires, with the design process headed by Arthur C. Lohsen of Frank & Lohsen Architects, proposes approximately 110 units, a healthy mix of townhomes, single family homes, and condominiums. The project also include a generous amount of green space, arriving in the form of a large, centrally located “great lawn,” as well as a number of smaller parks and gardens. The development will replace what was most recently the Med-Star Health facilities, and utilize a series of vacant lots along the 6000 block of New Hampshire Avenue, Peabody Ave, and Quakenbos St.


Each development will offer 10-20% of the total units at affordable housing rates. In a press release issued by Comstock last week, Four Points Principal Stan Voudrie said "We are big believers in the continuing demand for reasonably priced, for-sale housing in Washington, DC. These joint ventures with Comstock will allow us to deliver exactly that in both the Lamond Riggs and historic Anacostia neighborhoods." Christopher Clemente, Comstock's Chairman and Chief Executive Officer added: "We believe the strength of the Washington, DC area economy, and the demand for new housing in the District of Columbia provides tremendous opportunity to complement our existing platform in the greater Washington DC area."


Washington D.C. Real Estate Development News

Monday, September 6, 2010

When it comes to development along the new Dulles Corridor Metrorail Silver Line, connecting downtown Washington D.C. to Tysons Corner and Dulles Airport, developers think big. Reston Station, a transit-oriented, mixed-use development soon to be brought into the orbit of Washington DC as the terminus of Phase 1 of the Silver Line, is no exception. Zoned for 1.3 million s.f. of development and incorporating three office buildings, two residences, one hotel, retail space and a 2300-car underground garage, developers expect to break ground on the garage next March and start the residences in late 2012. Davis Construction, now at work on Reston Station's county-sponsored underground garage, intends to complete work by 2013 to sync with the Silver Line's debut.

Comstock Partners, the Reston-based developer behind the vision, is just now beginning to market to prospective office users and hotel operators to fill up the 60,000 s.f. of retail, 650,000 s.f. of office space, and 220-key hotel that have been planned 3/4 of a mile east of Reston town center. Comstock has just begun design process for the 500,000 s.f. of residential space with the search for an architect, but already plan pair of residential buildings, 205 and 140 feet high, with a total 370 units, 19.5% of it designated for workforce housing.

Turning what looks, at least aerially (mislabeled picture above courtesy of MWAA), like a land of parking lots dotted occasionally by office buildings, into a community that is "edgy, contemporary, with easy living and walking to the Metro" as Comstock's Maggie Parker puts it, will require a bold metamorphosis. Anchored by the indispensable Metro station, various groups are working to design a more urban Reston. Reston 2020, a committee of the Reston Citizen's Association, which represents residents of Reston in the Reston Master Plan Review process, has outlined its own optics for the area, A Strawman Proposal for The Wiehle Area Metro Station, that envisions a thriving mixed-use, beyond 9-5, transit-oriented community. The group calls for increased residential uses, pedestrian and bike interconnectivity along the Silver Line corridor, embracing the urban center paradigm and integration of growth along the corridor. According to Penniman, Strawman Proposal author and board member of the Reston Community Center,
"Reston is a wonderful, planned community of urban and village centers, but running in the middle of it is the toll road, which has historically been lined with office buildings. With the arrival of the Metro and three stations running through Reston, there is an opportunity to add some urban flavor that would allow more people to live, work, walk and play...If we can create more pedestrian connections and manage traffic, that should do a lot to energize the corridor and would fit in well with the image of Reston as a community of open spaces and quality architecture."
Not everyone would agree that Reston calls to mind architectural splendor or exudes urbanity, but Comstock hopes their site next to the Metro will afford the opportunity to change that. Comstock plans on entering Reston Station in the running for LEED-ND (LEED for Neighborhood Development) certification, a relatively new category in the LEED rating system, which the US Green Building Council, the Congress for New Urbanism and the Natural Resources Defense Council developed collaboratively to certify neighborhoods that are planned according to smart growth principles with attention to urban planning and environmental design characteristics at the community scale.

Debate on the project has focused on traffic mitigation from the beginning. The Metropolitan Washington Airports Authority began increasing tolls on the Dulles Toll Road last January by 33% to help finance the Silver Line, with further toll increases expected in 2012. With increasing gas prices and suffocating traffic, the commute along the toll road has become less sustainable.

Comstock's Parker says the developer has focused on traffic management from the start, making the most of the pedestrian bridge that will link its project to the Metro station. Planners have designed Reston Station Blvd. as a new cross street, "an east-west spine road parallel to both Sunset Hills Road and the Dulles Toll Road provides a key cornerstone to the ultimate goal of a well-planned grid of streets." "We have proffered to significant traffic modifications to accommodate the suggested increase in traffic with the arrival of Metro. We are also committed to conducting other traffic studies as the development progresses through an aggressive Transportation Demand Management plan designed to reduce automobile trips generated by the office and residential uses" explained Parker.

Ultimately, construction timelines will be determined by economic realities, with even citizens groups acknowledging that "development will not proceed as fast as might have been thought a couple of years ago." With three years to go until the Metro station opens, time will tell what awaits sojourners venturing out to the end of the new metro line.

Reston, Virginia, real estate development news