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Big Projects Moving Forward in LoCo, Part Two

Wegmans

While I was spending time with the in-laws over Christmas, the Loudoun Times Mirror put out a couple of stories on big mixed-use developments to watch in 2014. In case you were wondering, mixed-use means a combination of office space, retail, and residential properties. It’s a way for developers to sell homes in an area where they otherwise may not, and it helps the county by increasing the tax base.

Continuing from yesterday’s post, here’s a look at part two focusing on Dulles Town Center, Loudoun Station, Moorefield Station, and Village at Leesburg:

  • Dulles Town Center: In addition to completing a new Regal Cinema attached to the mall, an apartment complex will begin construction this year with 433 units. After a number of years without many options for movie goers, we now have too many. Not sure how well this one will do considering there is another Regal 2 minutes away and I wouldn’t be surprised to see the older one close in the near future. The builder is also working on another office building which is scheduled to be completed next year.
  • Loudoun Station: Situated at the last stop of the Silver Line Metro, this is mainly a commercial project. The idea is to create a downtown feel and the developer hopes to do that with another movie theater, shops, restaurants, and a hotel. Considering the number of commuters we have in LoCo, I see this one being a big plus.
  • Moorefield Station: Also at the final stop of the Silver Line, this project offers a lot more in the way of residential property. Townhouses are slated for construction in a couple different locations here, as well as parking for the Metro. Based on the proximity to the Metro and the Greenway I expect homes here will sell very quickly.
  • Village at Leesburg: Best known as the Wegmans shopping center, the empty office and retail space is filling up. I always thought the location was a little tricky, only one way in or out, but the beat marches on. An additional 1.2 million square feet of office space is going in, and construction of just over 200 residential units is set to begin. I’m still not sure how successful this one is going to be, but if they eventually tear up the golf course and build homes that would tip the scale.

There you have it, 8 large projects in LoCo that will have a big impact. I have mixed emotions about the additional traffic and need for schools, but also realize the potential for more things to do and opportunities to gain new clients. As always, time will tell. What do you think?

Cheers,
Mike

If you’d like to learn more about these communities or any other part of LoCo, just ask!

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Michael and Heather Elias are full time real estate professionals and licensed REALTORS at Century 21 Redwood Realty. They sincerely hope you enjoy reading this blog, and would love the opportunity to work with you.



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