Showing posts with label Tysons Corner. Show all posts
Showing posts with label Tysons Corner. Show all posts

Monday, February 21, 2011

Cityline Partners has filed a petition with Fairfax County to rezone Scotts Run Station into a 40-acre mixed use office, residential, hotel, and retail area as part of the Tysons Corner Comprehensive Plan, which incorporates a redesign of a low density project dominated by surface parking. The application was accepted by the county, indicating county planners have given the project an initial review, though numerous intensive public and administrative steps remain before final approval of the plan.

Cityline Partners LLC is a subsidiary of DLJ Real Estate Capital Partners of New York City' Cityline was formed in 2010 to manage the land holdings in Tysons Corner, which encompasses 114 acres and 22 buildings, the largest of the several gargantuan projects that will reshape Tysons as a more urban, gridded, walkable destination - if and when the plan is realized.

Located in the former Westgate Office Park, the area to be developed is flanked by Route 123, I-495 and the Dulles Access Road. The site is within a quarter mile of the proposed Metro station scheduled top open 2013.

"We dont want to turn this area into a concrete canyon," said Tom Fleury, Executive Vice President of Cityline Partners. "We're looking to develop the property into a transit-oriented, walkable, sustainable, mixed-use development with Scotts Run Stream Valley park as the focal point and natural amenity." The project will house eleven office buildings, nine residential buildings, one hotel, and ground level retail space. The entire project encompasses 8.5 million gross s.f. And while several other developers in Tysons Corner have projects nearly as large - 23 acres planned by Capital One and 28 acres planned by the Georgelas Group - each of the sites represents a only a potential for build out and none of the developers have plans to assemble anything close to the approved development in the near future. Once approved, the land could be sold along with the plans, or developed over years since the approvals do not expire. In this case spokesmen for the developer say the project will remain in the planning stage for the next few years, with initial construction forecast in 2013 when the Metro station is operable. Architects for the project have not yet been selected.

Tysons Corner real estate development news

Monday, December 20, 2010

Fairfax county have officially begun work today on the second of two projects that developers hope will constitute a monumental remake of the beltway suburb. Together, the real estate megaprojects will add two metro stations, millions of square feet of office, reshape the streets, and build untold condominiums and apartments on over 50 acres of land in central Tysons. County planners today "officially accepted" the Capital One application for study, and will now begin the long process evaluating the 23 acre development as they recently did for the Georgelas Group's "Tysonsdemo" project that will transform 28 acres over 3 sites in central Tysons. The two projects have more potential to change the face of Tysons than the sum of all other proposed projects combined, and County officials acknowledge that today they can move the process from the minutia of filing requirements to public consideration of its merits.

The Georgelas project was the first - possibly of many - accepted for consideration by the county under the auspices of the newly minted Comprehensive Plan, a restructured set of guidelines designed to move Tysons from its suburban inception to an urban grid. Tysons Planners have been meeting regularly with Capital One and Georgelas executives to hammer out a workable proposal, and today's technical acceptance of the Capital One plan moves the project to a full staff review with public comment periods. The staff will ultimately forward their recommendations for the two projects to the Board of Supervisors for judgment. The turning point, albeit a technical one, was welcomed not just by the sponsoring developers but by a county that has struggled for years to craft a metamorphic plan in what has been an urban planner's nightmare - wide, high-speed streets that isolate buildings and kill meaningful retail.

"Its a big deal in the sense that Capital One [and Georgelas] are the first projects that will begin to transform Tysons" said Brian Worthy, Public Information Officer for Fairfax. "Its very exciting that these proposals are taking advantage of the new plan," said Worthy. "Capital One’s application helps to advance the transformation of Tysons Corner into a walkable, livable urban center because it proposes high-density, mixed-used development near the Metro. This is exactly the kind of transit-oriented development that the plan to transform Tysons calls for." Capital One officials were unresponsive, but other participants in the process made it clear they thought the proposal had strong transformative potential. The site plan calls for 5 millions square feet in total development - 2.1 million s.f. of office space rising as high as 392 feet, a thousand or so residential units rising 20 stories, as well as hotels, parks, plazas and retail, all connected to what will be a brand new Tysons East Metro station. The design team includes Bonstra Haresign as Urban Planner and Architect and William H. Gordon Associates as Civil Engineer and Landscape Architect.

The Georgelas Group plans to redevelop 28 acres on three sites throughout central Tysons, with 14 buildings totaling more than 6 million square feet designed by WDG Architecture and Parker Rodriquez landscape architects. The plan includes office buildings that rise up to 360 feet, a Metro station and surrounding plaza, central "civic park", apartment buildings, and retail incorporated into parking garages at street level to mask their street presence topped with "sky parks."
Development will be balanced with civic areas and hotels that planners gauge will result in an overall presence of 65% office space and 20% residential usage. All office buildings will be designed for a LEED Silver ranking and for residences to earn general LEED certification, all designed to achieve "the urban aesthetic vision for Tysons."

Still, the proposal's impact is theoretical, as the plan must meander through the approval process, and Capital One has little inclination to start building right away, or even committing to a time frame for its first building. While it tentatively calls its 15-story office building adjacent to the current headquarters "the most likely to be constructed in the near term," it only promises to keep the plan as "an option...should the need arise." Similarly, attorneys for the Georgelas Group note that a full build-out "will take years perhaps decades" to complete even under the most optimistic scenario. Work will begin first around the new Tysons West Metro station with its tallest office building and possibly a condominium and retail element at the same time, but no timeframe is even hinted at in the planning documents. Cityline Partners and Mitre will likely precede the two with plans for a 340,000 s.f. office building likely to move more quickly through approval and into construction.

"We're at the start of a 40 year process," says Worthy, cautioning against expectations of a sudden transformation for Tysons. In fact some involved in the process see significant technical and practical hurdles in a vision that ties in Metro stations and extends streets while attempting a more cosmopolitan texture. "These guys will be guinea pigs for a brand new process," says one source familiar with negotiations, "all of this is too new to make any bets on how quickly it will proceed."

Tysons Corner real estate development news

Wednesday, September 8, 2010

Tysons has it good these days. What was just a few years ago a distant, forgettable suburb with prohibitively wide streets that looked nothing like its urban neighbor to the east, now has the hope of a new comprehensive urban plan, a foursome of Metro stations on the way, and developers queuing up to build. The latest is AvalonBay, which paid the Penrose Group $13.3 million for just 2.64 acres of land on Westpark Drive and plans to start construction of a 354-unit apartment building next month.

The new Avalon Park Crest, as it will be called, follows on the heels of Capital One's application to create a gridded street system and multi-phase development on 23 acres at the Tysons Metro stations. With construction already approved by the county and designed by the Lessard Group of Tysons, the units are expected to be occupied in early 2012. Arlington- based AvalonBay will build, own, and operate the apartment building. AvalonBay will not seek LEED certification, but will incorporate "numerous" green features.

The site is now within Park Crest development that currently includes condos, apartments and a Harris Teeter grocery store, and already includes the 558-unit Avalon Crescent. Despite being an aggressive investor with 171 buildings and more than 50,000 units to its name, this is the first new community AvalonBay has built in the mid-Atlantic since 2005, though it has been planning another new community in Wheaton.

The building will hold a 2-1/2 level underground parking garage, wifi lounge, "ample" bicycle storage, and two private one-quarter acre courtyards with a pool, and outdoor cooking.

McLean, Virginia real estate development news

Thursday, August 19, 2010

Following on the heels of Fairfax County's plan to transform Tysons Corner from a beltway exit to a citified, walkable community, financial giant Capital One has filed new plans for its Tysons Corner development, embracing the shift by proposing to turn its planned office park into a mixed-use model of urban planning. Capital One ensured future value of the land when it donated 3 of its 29 acres for an upcoming Metrorail station expected to open in 2013, a move it now seems ready to take advantage of.
Capital One had been approved for a 4-building office park on the 26-acre site just inside the beltway that it bought in 2000, but has built only one tower; in its place the company has now designed a mix of offices, parks, retail, residential and public spaces for what might someday be a live-work-walk community. No definitive time frame has been established. Capital One acknowledges that the economic outlook doesn't yet justify much of the construction, saying it has "no immediate plans" to develop the site. But "should the need arise," the bank wants an approved model in place and has stretched out its implementation over years as the climate in both financial institutions and real estate world improve.

Consolidation of Capital One's headquarters began back in 2002, when it built a 14-story headquarters on its newly acquired site. But rather than build out the remaining 3 buildings with their combined 560,000 s.f. of space, despite finally nearing capacity with 1000 employees, McLean based Capital One proposes to build on the new Tysons redevelopment plan and take the campus "in an entirely different direction" with a daunting 5 million s.f. of development. If approved by the county, the "vibrant urban center" would hold 2.1m s.f. of office space rising up to 392 feet (though just 28 stories), 980 to 1230 residential units rising 20 stories, as well as hotels, parks, plazas and retail, all connected to the Tysons East Metro station.

Few others have opted to launch similar projects; Quadrangle Development delivered the only new office building in 2009 and has held back on its approved residential development. But Capital One may have at least something in their wallet, since it is proposing a 15-story office building adjacent to the current headquarters and connected by an elevated walkway. It calls the building "the most likely to be constructed in the near term." The streetscape will be entirely reconfigured in what it calls an "urban grid system." Because the site is within a quarter of a mile of the new Metro station, density limits are eliminated, giving the region perhaps its best chance at a building that sets a new record for the area's tallest, possibly exceeding, just barely, Rosslyn's planned 390-foot Central Place tower. Capital One's application to the county will shoot for the USGBC's green building certification on each of its buildings by using green or reflective roofs, rainwater retention systems, pervious pedestrian paths, and a preference of foot traffic over vehicular access. Despite the nod to sustainability, the development will extend Scotts Crossing Road over the beltway and connect to Jones Bridge Drive on the west side of I-495, better connecting the overly wide roads that criss-cross the area.
County officials would not estimate the time frame for evaluating the application, a process that would include public hearings and studies, and presumably a series concessions between the county and Capital One; officials say they have not yet given input on the development plan.

Architects and planners envisioning the urban context include Bonstra Haresign as Urban Planner and Architect and William H. Gordon Associates as Civil Engineer and Landscape Architect. David Haresign, then Principal and Director of Architecture for Ai, assisted Capital One with initial site selection and designed the original master plan and the headquarters building, now iconic to the beltway bound as a curving "billboard" facing Tysons with the financier's logo. Like its planned successors, the first tower employed infrastructural adaptations to environmentalism, such as water-reducing plumbing, underfloor air distribution systems, pervious paving and local sourcing of materials, features not yet common at its inception.

Fairfax County real estate development news