ROSSLYN, VA—The Realize Rosslyn Task Force is expected to be briefed today on the findings of a year-long study of air rights that says the development of a decked-over Interstate 66 here can reap significant development, but could also harm neighborhood revitalization efforts.
Arlington County consulting firm Good Clancy of Boston concludes in the report that the new and reinforced decking atop I-66 could bring as much as 2.5 million square feet of new development. Most of the development would involve office and residential use and a smaller amount of retail, according to the Washington Business Journal.
Goody Clancy states in its report that air rights development in Rosslyn is likely at least 20 years away due in large part because current rental rates cannot support the expense of decking over the highway. The firm estimated that rents would need to increase by 13% to 15% to justify the capital costs of the highway-decking venture. See story in the Washington Business Journal.
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