TYSONS CORNER, VA-Real estate developers must have gotten an early glimpse at the projected growth numbers for Tysons Corner as recent rezoning approvals will allow as much as 17 million square feet of new development.
A newly released report by the Fairfax County Office of Community Revitalization projects that the population of Tysons Corner will grow from 17,000 to more than 100,000 residents by 2050. Its workforce numbers will almost double from 105,000 to 200,000 by the mid-point of the century.
Between October 2012 and September 2013, the county approved seven rezoning applications covering 110 acres, allowing for up to 17 million square feet of new development — 9 million square feet of residential and 8 million square feet of office and retail, according to the Washington Business Journal. The seven developments, which include Arbor Row, The Commons, Spring Hill Station, Tysons West Promenade and Scotts Run South, will accommodate 12,000 new residents and 21,000 new employees.
Eight more applications involving 87 acres are in approval process that could allow another 14 million square feet of residential and commercial development. See story in the Washington Business Journal.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.