Some very exciting news from North Tysons this week. We have been suspecting for a few months now the redevelopment of 7915 Jones Branch Drive would begin sometime in the winter or possibly early spring 2016. It looks like PS Business Parks is getting serious about moving forward as they have begun demolishing the existing mid-rise office tower, soon to be replaced with a six-story mixed use residential building.
North Tysons was one of the first neighborhoods of Tysons to begin full scale redevelopment in the early 2010s. At one point 6 different high density projects (new build and renovation) were in some form of construction activity; Avalon Park Crest, Park Crest Two, 1775 Tysons Boulevard, Nouvelle Apartments, 7900 Westpark Drive, and LMI’s headquarters on Jones Branch.
Since that time most of the construction has shifted towards East Tysons where several high rises are under construction currently. With the activity at 7915 Jones Branch Drive we may see a second wave of new construction coming to North Tysons. Cityline’s Arbor Row is likely to see a new high rise begin in the next couple of years; Home Properties, a purchaser of one of those potential high rise properties, has been toying with getting into the market for two years now.
The critical element in the decision making process will be how well newly completed Nouvelle Apartments leases. We’ll keep an eye on 7915 Jones Branch to see if they get the green light to go from demolition to construction.