Jasonhouse
January 27th, 2007, 09:05 AM
Tysons Corner expansion gets thumbs up from county
Washington Business Journal
9:08 AM EST Tuesday
by Joe Coombs Senior Staff Reporter
http://washington.bizjournals.com/washington/stories/2007/01/22/daily14.html?surround=lfn
Fairfax County has approved an ambitious expansion of Tysons Corner Center that will bring 3.5 million square feet of development to the area surrounding a future expansion of Metrorail.
The county's board of supervisors agreed Tuesday to support a plan by California-based Macerich Co. (NYSE: MAC) that would build 1.4 million square feet of office space, 1,385 residential units, a 300-room hotel and 200,000 square feet of retail space to the intersection of Routes 7 and 123 in McLean. The project will take 10 to 15 years to build out and is expected to coincide with Metro's $4 billion expansion project that will create four stations in Tysons Corner.
A pedestrian bridge over Route 123 would connect residents and shoppers at the development to one of the four Tysons stations. Macerich's development will also include more than 19 acres of open space with a network of parks, plazas and courtyards.
"There will be a significant outdoor element, with patio seating for restaurants and an ice skating rink in the winter," said John Anderson, president of Macerich East Development, in a recent interview. "We want to make it a lively space."
Work on the project's first phase of two office towers could get started in 2008 and be finished in 2011 or 2012, right at the time that Metro's expansion through Tysons is expected to be complete. The entire 23-mile extension will stretch to Dulles International Airport and is scheduled to be done by 2016.
Macerich's project would more than double the real estate at the 2.2 million-square-foot Tysons Corner Center, which has more than 300 stores and restaurants, anchored by Nordstrom, Bloomingdale's, Lord & Taylor, Macy's and L.L. Bean.
Washington Business Journal
9:08 AM EST Tuesday
by Joe Coombs Senior Staff Reporter
http://washington.bizjournals.com/washington/stories/2007/01/22/daily14.html?surround=lfn
Fairfax County has approved an ambitious expansion of Tysons Corner Center that will bring 3.5 million square feet of development to the area surrounding a future expansion of Metrorail.
The county's board of supervisors agreed Tuesday to support a plan by California-based Macerich Co. (NYSE: MAC) that would build 1.4 million square feet of office space, 1,385 residential units, a 300-room hotel and 200,000 square feet of retail space to the intersection of Routes 7 and 123 in McLean. The project will take 10 to 15 years to build out and is expected to coincide with Metro's $4 billion expansion project that will create four stations in Tysons Corner.
A pedestrian bridge over Route 123 would connect residents and shoppers at the development to one of the four Tysons stations. Macerich's development will also include more than 19 acres of open space with a network of parks, plazas and courtyards.
"There will be a significant outdoor element, with patio seating for restaurants and an ice skating rink in the winter," said John Anderson, president of Macerich East Development, in a recent interview. "We want to make it a lively space."
Work on the project's first phase of two office towers could get started in 2008 and be finished in 2011 or 2012, right at the time that Metro's expansion through Tysons is expected to be complete. The entire 23-mile extension will stretch to Dulles International Airport and is scheduled to be done by 2016.
Macerich's project would more than double the real estate at the 2.2 million-square-foot Tysons Corner Center, which has more than 300 stores and restaurants, anchored by Nordstrom, Bloomingdale's, Lord & Taylor, Macy's and L.L. Bean.