If you follow development news, or our twitter feed (hint), about Tysons then you likely saw that Garrett Companies purchased a 4.5 acre parcel which used to house Tysons Ford on Leesburg Pike for $26.5 million. Garrett has every intention of redeveloping the property, in line with the Comprehensive Plan goals for mixed use. In fact, based on their desire to also purchase the Tysons Bagel property, Garrett may have intentions for a much more ambitious project.
So, we thought we would play around with what the redevelopment might look like.
The property is within 1/2 mile of Greensboro Park metro station, but because of the lack of walkability crossing the Route 7 and Route 123 interchange, we assume it will be limited as a tier 4 height property, as indicated on the Comprehensive Plan. That means maximum building heights of 130 feet, not including mechanical spaces. Based on the topography of the site, it can be assumed that the building will likely have atleast 1 floor of below grade parking, and based on the height limit it is likely that the parking will extend further down.
Given those constraints, the project can achieve right around 1 million square feet of floor space given an average 25,000 square foot footprint for four buildings. A new street grid link between Leesburg Pike and Boone Boulevard is a given based on the road master plan for Tysons, and provisions for a future mid-project cross street will likely be required for when adjacent properties may also seek redevelopment. In the interim term that cross street can instead be a pedestrian open space or plaza area.
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The project could achieve around 75,000 square feet of leasable retail space, not including outdoor cafe space, as well as approximately 700,000 square feet of either residential or office use. If this was entirely residential, that would likely mean just under 800 residential units.
This is of course just a decent guess at what might be coming from Garrett Companies, based on the Comprehensive Plan criteria. We’ll need to wait and see what is proposed by the new owner to know for sure.