Sunday, May 30, 2010

Update on the Upcoming Transformation of Tysons Corner!




The Fairfax Planning Commission has just approved a land-use plan that will convert today's traffic-filled Tysons to a walkable city full of high-rises, sidewalk cafes, luxury boutiques, and beautiful courtyards. 
This means more energy-efficient buildings, affordable housing, and parking space in the area. Additionally, a circulator that will transport riders between metro stations, offices, and shopping malls has been proposed. 

The plan would enable the densest development within just a quarter mile of metro stations, and more than 75% of all development would be within a half mile of the Silver Line. (For more info. on the new metro line, see below.) 

It's been five years now that Fairfax officials have struggled to find a balanced plan for the redevelopment of Tysons Corner, so approval by the Planning Commission is a very big deal. I am very excited about the implications of this approval and the possibilities it will bring.
Given that Tysons is one of the top employment centers in the nation (currently the 12th largest), imagine the benefits that approval of this dense development along with the new metro line would bring to our region!! We may become one of the TOP 5.
 
How will this affect the Real Estate market? This is the best news in a long time! It's also great news for the Fairfax County residents, as the proposed development is sure to bring more business to the area and will without a doubt cause real estate values to rise. 
Now all that we await is for approval for the Board of Supervisors! Hopefully more good news is on the way... =)
More Information about The Silver Line 
(For those of you who were wondering...)


The Dulles Corridor Metrorail Project is a proposed 23-mile extension of Metrorail from Falls Church to Dulles Airport. Called the Silver Line, it will transport 60,000 passengers a day along one Virginia's busiest corridors, bringing welcome relief to traffic. 
Phase 1 of the Silver Line is scheduled to be completed in 2013, and Phase 2 in 2016. The Silver Line, which will run through the transformed Tysons Corner, will dramatically increase real estate value in surrounding areas. 
For more information, please visit the links below:
http://www.washingtonpost.com/wp-dyn/content/article/2010/05/28/AR2010052804824.html
http://www.dullesmetro.com/
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