Reston Town Center: 08/2016 Market Report

News Headlines

Consumer News

08/09/2016: Reston Town Center Announces Huge Change to Parking in the Area

  • Paid parking will begin in Reston Town Center on 09/12/2016. Parking fees will not be charged on weekends and during special events.

  • Reasons for paid parking include:

  • Increased use of RTC parking by commuters using the Wiehle Metro station which limits parking for patrons. This issue will only get worse as the second phase of the Silver Line is constructed by 2020.

  • Improve parking experience through ParkRTC technology

  • Support ongoing operating costs to maintain a high-quality, world class experience that will benefit customers, retail, and office tenants.

  • Maintain consistency with RTC’s original long-term plan for the community.

  • Local residents voiced their concern over the change and brought forth a petition of 6,000 signatures.

Real Estate Development

08/05/2016: Reston’s Future Tallest Tower Has a Name: One Reston Town Center

  • The Fairfax County Board of Supervisors has approved plans for Reston’s tallest building, One Reston Town Center. The 23-story 420,000 sqft office tower is going to take the place of the Weichert building on Reston Parkway.

  • The building will offer tenants panoramic views extending from downtown Washington, DC to the Blue Ridge Mountains. The building will feature a six-story glass enclosed atrium lobby, a 30,000 square-foot landscaped, outdoor plaza on the seventh floor, and a rooftop lounge and terrace that complement sophisticated design elements and flexible floor plans.

  • More information and video here

8/24/2016: Development of The Signature is Underway

  • The Signature consists of two new residential towers: 21-story West Tower and the 19-story East Tower; a six story North Low-Rise Component containing two-story apartments; and a six-story South Low-Rise component containing one level apartments.

  • This 1.2 million sqft project will deliver 508 apartments and amenity spaces, including a rooftop pool. The covered garage will offer below- and above-grade parking for 1,200 vehicles.

08/01/2016: ICYMI: Reston core to expand southward as JBG advances major additions for RTC West

  • JBG Companies is proposing to overhaul a 14-acre office park and transform it into a pedestrian-friendly development with restaurants, retail, and additional office/residential space. This development is located a quarter mile from the planned Reston Town Center Metro station.

Fun

08/11/2016: ChalkFest Returns to Reston Town Center

  • ChalkFest will be held in Reston Town Center from 9/9-9/10.

  • Professional artists, amateur artists, families, and kids of all ages are welcome to create murals on the pavement of Market Street with chalk.

Notable August Sales

Edgewater Condos

1700 Lakeshore Crest Drive #25

List Price: $324,900

Close Price: $315,000

2bd/2bth

Carlton House

11800 Sunset Hills RD # 826

List Price: $434,927

Close Price: $434,927

2bd/2bth

Parc Reston

1732 Ascot Way # J

List Price: $229, 900

Close Price: $222, 500

2bd/1bth

Midtown

11990 Market Street #1516

List Price: $465,000

Close Price: $450,000

1bd/2bth

Savoy

12000 Market Street #307

List Price: $489,000

Close Price: $470,000

2bd/2bth

Featured August Listings

Paramount

1830 Fountain Dr. #706

List Price: 599,000

2bd/2bth

Chancery Station Circle

12154 Chancery Station Cir.

Reston, VA 20190

List Price: $940,000

3bd/3fb/2hb

Midtown

11990 Market St #1511

List Price: $899,000

2bd/2fb

Investment Opportunities

Click here for Bank Owned/Potential Short Sales in Reston

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