Real Estate
More Housing at Reston Town Center?
Boston Properties exec tells WBJ that surface lot may be best suited for residential - not office - development.
Boston Properties has closed on a deal to acquire the last undeveloped parcel at Reston Town Center, and the Washington Business Journal reports the developer is leading towards building apartments at that spot.
The 4.5-acre surface parking lot at Fountain Drive and New Dominion Drive was purchased earlier this year for a reported $27 million.
The parcel is commercially zoned for 250,000 square feet of office space. However, Boston Properties Peter Otteni says it actually may be a better spot for residential.
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He said the company expects to seek approval from Fairfax County later this year to change the property's zoning to allow for residential development.
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Boston Properties currently owns the newer part of the town center and is working on a deal to purchase Fountain Square. It is also constructing the new Avant residences at Town Square Park.
More:
Will Town Center Parking Lot Be Developed?
Boston Properties Eyes Last Spot at Reston Town Center
Boston Properties Looking for RTC Purchase
Boston Properties Buying More of Reston
Boston Properties' Block 16 Eyes Late 2013 Opening
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