RESTON, VA-The tower RTC Partnership LLC is planning for 1760 Reston Pkwy is years away from development, not to mention delivery, but the beginning steps are in motion. The developer is collecting multiple bids for the project and will soon arrive at the project’s development costs. It is also in discussion with potential development partners, Transwestern’s Matt Bundy tells GlobeSt.com. “It is almost certain this will not be a spec development. We will wait until a tenant or tenants are secured before moving forward. That will make the financing easier.”
This is what RTC has decided on though: Transwestern will be the exclusive leasing agent for the proposed mixed-use project. The building, expected to be the tallest in Reston, will replace an existing building at 1760 Reston. Until the pre-leases are inked, rents will continue to be collected from the existing tenant.
So far the specs for the new building call for the first five floors to be reserved for ground-floor retail and a five-level, podium parking garage. The additional 17 floors will be for office space, with the sixth floor featuring a green roof terrace covering three-fourths of an acre. Reston-based PollEo Group is the designer. The building is being designed to secure LEED Gold certification.