FAIRFAX, VA-LCORE received approval from the Fairfax County Board of Supervisors for the rezoning and first phase of redevelopment for The Commons of McLean, a 577-unit garden style apartment community. The vote was unanimous.
The vote gives LCOR the go-ahead to redevelop the North Parcel of The Commons, at the intersection of Anderson and Chain Bridge roads, into a transit-oriented residential and retail community.
The plan provides up-zoning for The Commons' North Parcel, which is approximately 21 acres. The new zoning will allow LCOR to add up to 2,500 residential units, approximately 50,000 square feet of street level retail space and centralized parks.
LCOR's redevelopment plan is based around seven mid- and high-rise residential buildings ranging from six to 23-stories. Each phase of development will be reviewed and adjusted over the years. With this final step in the rezoning process concluded, LCOR will pursue site plan approval and building permit issuance for the first phase of development. The company anticipates that construction will begin on the first phase in the second half of 2014.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
