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