A planned Tysons development may soon have new owners, which could result in changes to the previously approved project.
Two years ago, Fairfax County approved a redevelopment project near the corner of Leesburg Pike and Gallows Road in the Old Courthouse district. Shortly afterward, the developer filed for bankruptcy. Now, the property is poised to shift hands, but it’s unclear whether the soon-to-be new owner will still follow the approved plans.
The plans for International Place, which were submitted by a limited liability company as a project of the Stafford-based Garrett Cos., follow a typical pattern for post-Metro development in Tysons. They call for one main new building and five secondary structures, ranging from 85 to 400 feet in height, to house a mixture of office, residential and retail uses.
The current plan includes 385 new apartments, 129,000 square feet of retail space, two new public parks and one new public street, which would connect Leesburg Pike to Boone Blvd. The plans would follow urban design guidelines for human-focused sidewalks.
After an extensive process of planning, design, submission and county review, Fairfax planners approved the design for International Place, authorizing construction to begin. It was to be the first major redevelopment in the Old Courthouse district.
When the LLC filed for bankruptcy last February, though, the development was put on hold. Now, a Middle Eastern real estate developer who chairs the United Arab Emirates-based Nobles Properties has signed a purchase agreement to buy the property at 8201 Leesburg Pike for $18 million, the Washington Business Journal reported. That purchase isn’t final yet — the LLC has a hearing set for May 7 to seek permission to sell the property.
It is unclear whether the developer would seek to implement the plans that have been approved for International Place, propose an alternate design or continue to use the site as it is. These approved plans, though, would certainly be valuable to the new owners, and in all likelihood, this purchase will be a significant step toward redevelopment of the location.
First and second images via Fairfax County, last image via Google Maps
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