TYSONS CORNER, VA—The revised larger high-rise headquarters project by Capital One here was approved by the Fairfax County Board of Supervisors last week.

The new headquarters project at 470 feet high will involve the development of the tallest office building and the second tallest structure in the area next to the 555-foot tall Washington Monument, according to the Washington Post. The revised 950,550-square-foot headquarters is at a new parcel overlooking the Capital Beltway. Capital One also secured approvals for a new hotel of about 350 rooms.

The headquarters, when built, will allow Capital One to consolidate operations from leased space in the DC region. The company has 42,000 employees worldwide and approximately 1,800 in the DC region that the company plans to consolidate to Tysons.

“We didn’t set out to build the biggest building,” Julie Rakes, a Capital One spokesperson, said. “We set out to build a building that would accommodate our growth. We’re leasing thousands of square feet of real estate across the region, so this will help us bring those people together.”

While utility work has begun on the venture, the company has yet to release a projected completion date for its new headquarters. See story in the Washington Business Journal.