Boston Properties Inc. has acquired a 50% interest in the former offices of Fannie Mae in Herndon.
The developer, whose properties include Reston Town Center, paid roughly $17.3 million for the acquisition of 12310 and 13150 Worldgate Drive, according to its first quarter earnings report.
Both buildings have been vacant for years, poising Boston Properties for a joint venture that includes redeveloping the property for residential use, according to an April 26 earnings call. Washington Business Journal first reported the news.
The tentative plan calls for demolishing both buildings and using a portion of the garage for a 349-unit rental and for-sale housing development, according to Boston Properties CEO Owen Thomas.
Boston Properties would act as the developer of the project alongside Artemis Real Estate Partners. MRP Realty and Artemis paid around $45 million for both properties in 2018.
Development likely won’t kick off until next year.
“Additional new acquisition opportunities will undoubtedly grow in this environment,” Thomas said. “We will remain highly opportunistic and solely focused on premier workplaces, life science and residential development.”
Fannie Mae’s former campus on American Dream Way in Reston is also being eyed for redevelopment. Developer Wheelock Capital recently resubmitted plans to Fairfax County after an earlier approval was voided due to a late payment.
Recent Stories
Good Monday evening, Fairfax County. Let’s take a look back at today’s stories and a look forward to tomorrow’s event calendar. 🕗 News recap The following articles were published earlier…
(Updated 4:50 p.m.) Firefighters are battling a two-alarm fire with possible hazardous materials at a warehouse in Sterling. Smoke is billowing into the skies over Fairfax from a fire at…
OmBaked CBD Boutique at Lake Anne Plaza in Reston is hosting a holistic health fair next month. The event , Scheduled for May 19, aims to promote sustainability and environmental…
(Updated at 3:30 p.m.) A local Fairfax resident and golf professional has qualified for the 2024 PGA Golf Professional Championship. Larkin Gross, an assistant professional at Vienna’s Westwood Country Club,…
For many remote workers, a messy home is distracting.
You’re getting pulled into meetings, and your unread emails keep ticking up. But you can’t focus because pet hair tumbleweeds keep floating across the floor, your desk has a fine layer of dust and you keep your video off in meetings so no one sees the chaos behind you.
It’s no secret a dirty home is distracting and even adds stress to your life. And who has the energy to clean after work? That’s why it’s smart to enlist the help of professionals, like Well-Paid Maids.
Still planning for summer camps? Check out the great variety of art projects and fun teachers at Art House 7 in Arlington. We have morning, midday, and afternoon weekly camps for ages 5-13. Among our themes: Clay Creations; Animals Around the World; Arts & Crafts; Draw, Paint & Sculpt Faces & Animals; Drawing & Printmaking. We’ve recently added PaperPalooza (paper making and bookmaking) and Jewelry camps. You can see all our listings on our website.
Art House 7 has been a haven for artists of all ages since 2015, offering classes, camps, and workshops. We’re located on Langston Blvd. near the Lee Harrison Shopping Center. We have an ample 2-story studio, and plenty of free parking.
Weekly camps at Art House 7
– June 17-Aug. 9
– Camp times: 9-11am, 11am-2pm, 2:30-4:30pm
– Ages 5-13
Dream, Design, Build: Home Expo 2024
Sponsored by ABW Appliances & Eden, join us for a one-of-a-kind Home Expo event on May 11th from 10AM to 4PM!
The DMV’s top experts — AKG Design Studio and GMJ Construction — are opening their doors to homeowners to
Ravel Dance Company presents The Sleeping Beauty at Capital One…
Be transported to the magical kingdom of Princess Aurora, where the wicked Carabosse casts a curse that dooms the Princess and her entire kingdom. Set to the spectacular Tchaikovsky score, this beloved classic will sweep you away with its beauty,
