total: 8698 - Reston Town Center

RESTON TODAY
POPULATION: 60,000
MAJOR EMPLOYMENT CENTER: 19 MILLION SF OFFICE SPACE
WORLD CLASS COMMUNITY: LIVE, WORK AND PLAY
 U.S. Top 10 Best Places to Live
 U.S. Top 50 Best Places to Raise
a Family
 U.S. Top 10 Best Places to Retire
 Numerous Awards for Environmental
Stewardship
 Outstanding Parks and Recreational
Facilities
 Nationally Recognized Community
Hospital
 Nationally / Regionally Recognized
Events
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OUTSTANDING
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NATIONAL AND GLOBAL ACCESS
WASHINGTON DULLES
INTERNATIONAL AIRPORT
RESTON TOWN CENTER
TODAY
•
World-Class Live/Work/Play Environment – Delegations visit from all over
the world
•
Urban Land Institute “Award of Excellence for Urban Design” –
recognition unsurpassed by any other development in Northern Virginia
•
Pedestrian-First Design – streets/sidewalks, parks, squares, fountains,
public art and public spaces
•
Nationally and Regionally Recognized Events – Northern Virginia Fine
Arts Festival, over 150 more
•
Unprecedented 0% Effective Vacancy Rate (16% in Region) with Highest
average rental rates in Fairfax County
•
Companies “Attract, Retain and Maximize the Productivity of a WorldClass Workforce”
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RESTON TOWN CENTER
URBAN CORE TODAY
 2.5 MSF OFFICE
 1,717 RESIDENTIAL UNITS
 514 HOTEL ROOMS,
32,000 SF MEETING SPACE
 430,000 SF RETAIL
150 U/A
75 U/A
143 U/A (2013)
PHOTOGRAPHED IN 2011
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RESTON, VIRGINIA
6
1960
1964
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RESTON, VIRGINIA – MASTER PLAN
WORLD-CLASS
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RETAIL AMENITIES: 430,000 SF
RESTON TOWN CENTER
URBAN CORE
1981
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RESTON LAND (MOBIL) INITIATES RESTON TOWN CENTER PLANNING
1981
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RESTON LAND (MOBIL) INITIATES RESTON TOWN CENTER
PLANNING
PHASE 1
OBJECTIVES
 URBAN STREET GRID
 PEDESTRIAN-FOCUSED URBAN DESIGN
 CRITICAL MASS
 Stands Alone as Urban “Downtown”
 240K Retail/Entertainment
• Needed to Meet Retail Co-Tenancy Requirements
• 11- Screen Theatre and Seasonal Ice Rink
 550K Office, 514-Room Hyatt Regency
 CREATION OF THE PUBLIC DOMAIN, ARCHITECTURE,
PARKS, SQUARES, FOUNTAINS, PAVILION, PUBLIC ART,
AND PUBLIC SPACES
 INTEGRATING PLACE INTO COMMUNITY – OVER 250
EVENTS IN THE FIRST YEAR
 RESTON TOWN CENTER AS REGIONAL DESTINATION
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RESTON TOWN CENTER
MAXIMUM
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HIGHWAY ACCESSIBILITY
REGIONAL HIGHWAYS/INTERCHANGES
FORM URBAN STREET GRID
BEST
MULTI-MODAL ACCESS IN NORTHERN VIRGINIA
1. WALK-TO-WORK/AMENITIES
• Over 4,000 Residential Units in Reston
Town Center Offer Pedestrian-First
Live/Work/Play Environment
• 15,000 People Live within 15 Minute Walk
2. BIKE-TO-WORK
• W&OD and other Regional Trails Provide
Safe Bike Access
• Approximately 2% of RTC Employees
Bike-to-Work
3. DRIVE-TO-WORK
• Regional Highways/Interchanges
Form Classic Urban Street Grid
Maximizing Access
• Over 8,000 Parking Spaces Serve RTC
Phases I and II
4.
BUS-TO-WORK
• Reston Town Center Transit Station
Provides Convenient Regional Bus
Access
• Destinations Include West Falls Church,
Tysons, Wiehle and Herndon/Monroe
Stations
5. RAIL-TO-WORK
• Sunset Hills Interim Park and Ride
Provides 24/7 Shuttle Service to Wiehle
Ave Station (2013)
• Reston Town Center Station (2018) Puts
Metrorail within 5-Minute Walk
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PEDESTRIAN-FIRST
Phase 1: 2,822
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STREET GRID AND PARKING
Phase 2: 5,876
TOTAL:
8,698
RESTON TOWN CENTER,
URBAN CORE
spaces available plus street parking
PEDESTRIAN
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EXPERIENCE
RESTON TOWN CENTER,
URBAN CORE
1995-2014
TOTAL RSF: 4.1 MSF
BOSTON PROPERTIES
RESTON TOWN CENTER, DEVELOPMENT TIMELINE
URBAN CORE: 3.0 MSF
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1995-2013
SUMMARY
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BOSTON PROPERTIES
RESTON TOWN CENTER, DEVELOPMENT SUMMARY
THE AVANT
RESIDENTIAL MIXED-USE
• Delivered 4Q2013
• 425,000 SF
• Land acquired through distressed debt purchase in
2010.
• 15-story project located on the last remaining entitled
residential parcel in the Reston Town Center Urban
Core.
• Situated less than ¼ mile from the future Metro station
and within steps of the current express bus station.
• 359 luxury rental units, approximately 26,500 square
feet of ground level retail, and 770 new parking
spaces.
• Retail is 100% leased and the residential component
is 11% leases with the building now opened.
• Average residential unit size of 916 SF including
studio, 1BR, 2BR, and 3BR layouts.
• Amenities include private pool, club room, fitness
center, business center and rooftop dog area.
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WORLD-CLASS
FUTURE SITE
• Total Project Size: 605,000 GSF
• Units: 540
• Retail: 24,100 SF
• Zoning Application Submitted: 3Q2013
• Estimated Zoning Application Approval:
4Q2014
• Estimated Site Plan Approval: 1Q2015
• Estimated Construction Commencement:
3Q2015
• Initial Occupancy: 3Q2017
• Closed on 4.52 acre site on March 29, 2013.
• Acquisition provides the Company controlling interest in all commercial properties within the Town Center’s Urban Core
with the exception of the Hyatt Hotel and the Verisign building.
• Site currently serves as a 250 space surface parking lot and is entitled for the last remaining 250,000 SF of commercial
density in the Town Center’s Urban Core.
• Application submitted to the County includes a two tower 540-unit residential development on the Signature Site and the
relocation of the 250,00 SF commercial density to the low-rise portion of One Fountain Square.
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RESTON GATEWAY
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FUTURE SITE
Status
RSF
Proposed Uses
Proposed
3.5M SF
Residential, Hotel, Retail, Office