Developer Comstock Companies is working with the town to transform 4.7 acres of land into a mixed-use town center with 273 residential apartments, 17,000 square feet of retail space, an arts center and a 726-space parking garage.
Comstock has submitted a new schedule for the project, which was expected to break ground this spring after being pushed further out from last year.
At a Herndon Town Council meeting on Tuesday (May 10), town manager Bill Ashton II said attorneys for Comstock and the town are negotiating the schedule and financing package.
“They are on the cusp of going to lending but there are some things they need to iron out before they can get there,” Ashton II said at the meeting.
The town is actively working on this issues, which were not publicly discussed. Comstock has also required some changes to a building permit based on site plan revisions that will be submitted to the town.
Comstock told FFXnow in a statement that no updates were available to share.
Ashton provided the update at a meeting following questions from Vice Mayor Cesar del Aguila.
“There’s a lot of rumor mill and conspiracies out there,” del Aguila said.
The cost of the $101 million project increased by $25 million due to issues related to materials, labor, and workforce restrictions caused by the pandemic.
When asked about the project, a spokesperson for the town deferred to the discussion at the meeting.