Plans to redevelop the Crescent Apartments, which trace their lineage nearly back to Reston’s founding, took a key procedural step forward on Tuesday (July 16).
The Fairfax County Board of Supervisors voted 9-0 to transfer the 16.5-acre site to the Fairfax County Redevelopment and Housing Authority, enabling the agency to work on finding a private partner for the redevelopment project.
City of Fairfax planning commissioners say the latest incarnation of a plan to redevelop a key parcel along Chain Bridge Road has improved on past submissions, but most of them still didn’t like the proposal enough to support its approval.
The commission voted 4-2 on June 23 to recommend that the Fairfax City Council reject developer Paradigm Companies’ latest plan to replace a 109-year-old house at 4131 Chain Bridge Road with a 276-unit apartment building. The proposed project would occupy a 2.7-acre site and include about 11,000 square feet of ground-floor commercial/retail space.
The median rent of an apartment in two urban areas of Fairfax County is drawing close to $3,000 per month, according to new data.
Should Tysons and Merrifield, including the Mosaic District, reach that figure in the second half of this year, they will join Arlington in the $3,000-per-month club.
Growth in the proportion of renters to homeowners across Fairfax County is changing the local landscape in a number of ways.
An analysis by Point2Homes released in mid-June places three Fairfax communities among the top 10 in the D.C. region for the percentage of renters compared to overall housing:
A new housing option has opened up at the Halley Rise development in Reston.
After wrapping up construction last year, The Arbor at Halley Rise will celebrate its grand opening from noon to 3 p.m. tomorrow (Saturday), inviting current and possibly future residents to partake in food, drinks, lawn games and live entertainment as they get a look at the finished building.
Apartment rental prices continue to rise across Fairfax County, even as they cool nationally, and nowhere in the county is pricier for renters than Tysons.
With a median rental price of $2,450 for one-bedroom apartments and $2,938 for two bedrooms, Tysons topped Fairfax County in May and was second only to Arlington regionally, according to new data from Apartment List.
After years of overseeing projects around the D.C. region, Southern Management’s old Tysons office could be the scene of a new redevelopment.
Southern Management, which relocated its offices to Valo Park (7950 Jones Branch Drive) a couple of years ago, has enlisted Insight Property Group for a proposal to raze the building at 1950 Old Gallows Road near the Leesburg Pike/I-495 interchange and replace it with a new, 304-unit apartment building.
Year-over-year apartment rents continue to trend upward in Northern Virginia, even as fears of economic upheaval loom.
The growth also comes despite a national year-over-year decline in median apartment rental prices.
A pair of apartment buildings in north central Tysons recently changed hands, resulting in a name change for one of the properties.
Hanover Tysons, a 412-unit residential building at 1500 Westbranch Drive, has been rebranded as The Jones at Tysons after its original developer, The Hanover Company, sold the property to the financial services firm Mesirow Financial late last year.
Fairfax County’s homes market saw year-over-year upticks in sales and prices in 2024.
A total of 11,787 properties changed hands during the year, according to preliminary figures reported by Bright MLS, the region’s multiple-listing service.
