Fairfax Moves Closer to Revitalizing Lake Anne Village Center
September 10, 2013
At their Sept. 10, 2013 meeting, the Fairfax County Board of Supervisors approved an interim agreement with Lake Anne Development Partners LLC. This contract moves forward plans to revitalize the aging village center.
The agreement focuses on transforming the county-owned 16.5 acre Crescent Apartments property, as well as the adjacent gas station. The redevelopment agreement also includes the potential to incorporate additional, adjacent sites and further partnerships.
Under the contract, the developer will create a development plan and obtain zoning and land use approvals. Because more housing is a key to renewing the village center, the project could include up to 1,195 housing units and 117,000 square feet of retail space.
The project’s design will be sensitive to the character of Lake Anne. The design also will be submitted to the Reston Association Design Review Board for conceptual approval, as well as the Architectural Review Board.
However, the plan won’t be implemented until the county and developer sign off on a master development agreement. Both parties have agreed to negotiate an agreement within the next 18 months.
The agreement also contains two additional key provisions. First, the county may end its contract if the partners cannot secure development rights for the privately owned parcels or a master development agreement can’t be reached.
The developer must also replace the 181 affordable units at Crescent, plus set aside 20 percent of any new units as workforce housing. When redevelopment moves ahead, current residents also will be able to live at the property at affordable rents, provided that they still meet eligibility requirements. The developer must submit a relocation plan that meets the satisfaction of the county.
The Fairfax County Board of Supervisors purchased the Crescent Apartments in 2006, with the intent of preserving the Crescent’s 181 units of affordable housing, and encouraging the revitalization and redevelopment of the Lake Anne community. The Crescent is currently operated on behalf of the Board of Supervisors by the Fairfax County Redevelopment and Housing Authority.
The community and county have wanted to refresh the village center since the late 90s. Following its commercial peak in the 1970s, the center has faced increasing levels of competition, declining levels of commercial investment, limited visibility, physical maintenance issues and changing market dynamics.
However, officials believe that bringing more residents to the village center will stimulate retail and commercial demand. More residents also will increase the center’s vitality, making it an even more attractive place to live, work, shop and play.
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