Saturday, April 27, 2013
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. 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. Read the rest of the story here. Boston Properties currently owns the newer part …
Friday, April 26, 2013
The Avant Apartments emerging as part of Reston Town Center skyline.
While you were scurrying quickly through Reston Town Center (or staying inside) over the winter, construction crews were hard at work on The Avant, the new residential building at 12025 Town Square St. The Boston Properties project is now a part of the Town Center skyline. It is expected to be completed this fall. The 15-story Avant is being built on the last remaining undeveloped residential parcel at Town Center. The building will feature 359 units and 27,000 square feet of ground-level retail, though retail tenants have not yet been announced. Amenities will include private pool, club room, fitness center, business center and rooftop dog area. Pre-leasing will begin in September and the first units should be available in November, …
38.95824
-77.360722
12025 Town Sq, Reston, VA
/articles/photo-of-the-day-now-rising-at-town-center
/locations/9310998
Thursday, February 14, 2013
Boston Properties has bid to buy surface lot at New Dominion Drive. Is more mixed-use development next to Spectrum Center on the way?
The 4.5-acre undeveloped land Boston Properties is seeking to buy at Reston Town Center is the surface parking lot at Fountain Drive and New Dominion Drive, a commercial real estate source says. That would make the parking area ripe for mixed-use redevelopment that may tie in with the planned major redevelopment at the adjacent Spectrum Center. Read about those plans here. The parking lot is currently owned by Beacon Capital Partners. According to a report from the CoStar Group, the 4.5-acre lot will sell for about $27 million ($6 million per acre). The parcel is commercially zoned for 250,000 square feet of office space. Boston Properties is evaluating a potential mixed-use development plan, which could include residential as well as …
38.961103
-77.356857
Barnes & Noble Booksellers
1851 Fountain Dr, Reston, VA
/articles/town-center-parking-lot-may-be-developed
393952
/locations/8796781
38.9587
-77.356749
Reston Town Center
11900 Market St, Reston, VA
/articles/town-center-parking-lot-may-be-developed
1300156
/locations/8796780
Monday, February 11, 2013
Group seeks to buy 4.5-acre undeveloped parcel at Reston Town Center.
Boston Properties is working on acquiring the last remaining undeveloped land parcel at Reston Town Center. According to a report from the CoStar Group, the 4.5-acre plot, currently owned by Beacon Capital Partners, will sell for about $27 million ($6 million per acre). The parcel is commercially zoned for 250,000 square feet of office space. Boston Properties is evaluating a potential mixed-use development plan, which could include residential as well as commercial uses, CoStar said. Beacon owns the original potion of the property that opened in 1990. Boston Properties owns and manages the newer part of RTC South of Market Street and is working on purchasing the Fountain Square buildings. More: Boston Properties Looking for RTC …
Friday, December 21, 2012
The Avant expects first residents to move in by next November.
A spokesman for Boston Properties says the residential building currently under construction at Reston Town Center should be ready for preleasing in summer of 2013. The Avant at Reston Town Center will have its "topping out" (final concrete pour of the building roof) next week, says Richard Ellis, Boston Properties' senior project manager. He said the first units should be delivered in late November of 2013. The project is being built at St. Francis, Bluemont and Explorer Street and Town Square. The Avant will be a 359-unit, 15-story luxury rental. The project will also have about 28,000 square feet of retail space. For more information, visit http://liveavantapts.com. More information and apartment layouts will be available in the spring…
Friday, August 24, 2012
Boston Properties executive says visitors will likely have to pay in the future.
Is paid parking in Reston Town Center's future? Possibly. Boston Properties vice president and D.C. general manager Peter Johnson tells the The Washington Business Journal he "suspects it will happen in the near future" but there is no timetable or rate structure in place. Johnson tells WBJ that Reston Town Center, really "is an urban setting in a suburban environment." And in urban envionments, it is common to pay for parking. Boston Properties owns more than one million square feet of space in Reston, including the South Of Market development (the newer section of RTC). It is also building the new residential building across from Reston Town Square Park at RTC. The company also recently announced it is heading a group that seeks to …
Monday, August 6, 2012
Development company exploring joint venture to purchase Fountain Square buildings at Reston Town Center
Boston Properties has formed a joint venture to purchase Reston’s Fountain Square mixed-use buildings, the Washington Business Journal reports. One Fountain Square (11911 Freedom Dr.) and Two Fountain Square (11921 Freedom Dr.), currently owned by Beacon Capital, are the buildings in the center of Reston Town Center. Boston Properties is the developer and owner of the South Of Market area of Reston Town Center. Fountain Square contains 811,000 square feet and is valued at $385 million, the WBJ reports. Boston Properties, which owns more than 1.5 million square feet of office space in Reston, formed the joint venture July 13. The group did not say with whom they are partnering. Boston Properties will contribute $87 million for a 50-percent…
The Analyst
2:46 pm on Sunday, April 28, 2013
Special interest politics are killing this country. Although the Democrats have managed to "sell" themselves as the "concerned" party that's worried about all of us, Hudgins actions tell another story. Hudgins makes Bob Dix look like a moderate when it comes to catering to her "very, very, very special interest." Developers have, for all practical purposes, seized control of the Democratic party … more ›