The City made $8.4 million from the sale of the Virginia Tech (VT) grad center in November 2023. Favorable lease terms between the City and VT allowed VT to make a deal with Converge, one the City saw had benefits. VT received $16.6 million.
The City’s initial financial expectations from the public-private partnership were repeatedly revised downwards, primarily due to COVID. Higher returns from the West Falls project for the developer and investors were achieved by lowering payments to the City.
At their August meeting, HARB received a proposal to build an 8-unit apartment building adjoining a historic property, taking advantage of the new T-Zone ordinance.
The 2013 Boundary Adjustment Agreement created an opportunity for the City to finance a new $120-million high school from lease payments and additional taxes by allowing 10 acres of land, now called West Falls, to be developed in a public-private partnership.
After approving Lee Park Townhomes, the Planning Commission reflected on the results of the new T-Zone code – expensive and dense housing, little tree canopy onsite, consideration for inadequate stormwater drains.
The Water Wars between the City and Fairfax County resulted in the sale of the water utility and a tax increase for residents. However, the boundary adjustments brought opportunities in West Falls and the Gordon Road area.
The Lee Park Townhomes’ first review at the Planning Commission meeting. Positive design reviews were mixed with worries about the inadequacies of the storm drains and sewers for denser development and lack of affordable housing.
Lee Park townhomes, on a 0.69ac site on the corner of N Lee St and Park Avenue, is a 20-unit Madison Homes project. This by-right development sits in an area known to have inadequate stormwater infrastructure for the existing buildings. The City requires a runoff rate reduction without specifying any amount.
See the murals, sculpture, and utility box art, all public artwork planned for the City. Choosing options provided by developers can be difficult. What would you have chosen?
