Developers Launch 1 MSF Master-Planned Community in Va.
- Jul 26, 2012
Construction on Downtown One Loudoun, a mixed-use development within a 358-acre master-planned community in Loudoun County, Va., is under way and will feature about 210,000 square feet of retail, restaurant and office space when completed next spring.
The project is part of the larger One Loudoun development, a joint venture of Miller and Smith and North America Sekisui House L.L.C. that will eventually have 1,040 residential homes; 3 million square feet of office space; a luxury hotel; 702,000 square feet of retail, including a movie theater and restaurants; an amphitheater; clubhouse with pool; 100 acres of public space and walking trails. The site is located off Russell Branch Parkway at Route 7 and Loudoun County Parkway.
Alamo Drafthouse Cinema, a Texas-based business that offers in-theater dining and drinks served throughout the films, will open a 32,000-square-foot theater in Phase One of Downtown One Loudoun. It will be Alamo’s first theater in the metro Washington, D.C., area. Leasing for the retail and office space has begun but no other tenants have been announced. Potomac Development Group is handling retail leasing, and Cassidy Turley is leasing the office space.
Downtown One Loudoun will eventually comprise about 1 million square feet of mixed-use development. Two three-story, 54,000-square-foot buildings with offices over retail will be the first structures built in Phase One, along with the theater and a 28,000-square-foot plaza. Other plans for Phase One include a 40,000-square-foot building housing a gym and retail; two restaurants with about 7,400 square feet each; a 30,000-square-foot grocery; and 3,600 square feet of retail next to the grocery.
There will also be at least 66 townhomes in Downtown One, but a spokesperson for Miller and Smith said sales have not started for that part of the housing. She said 44 homes have already been sold in the southern part of the planned community.
Phase Two will include an upscale hotel that could have up to 400 rooms, more shops and offices, luxury townhomes and multifamily residences. A timetable for Phase Two was not released.
“We are proud of the progress at One Loudoun in creating a special place that did not exist in Loudoun County,” Bill May, president of Miller and Smith, told Commercial Property Executive. “During the most difficult downturn in the economy in recent history, we have prospered due to the diligence of all team members.”
One Loudoun, which has been in the planning stages since 2007, is expected to be the largest development in Loudoun County, located about 25 miles west of Washington, D.C. Loudoun County, which is one of the fastest growing counties in the United States, has about 325,405 residents. Washington-Dulles International Airport is located in Loudoun and contributes to a strong jobs market in the county. Other major employers include AOL, Verizon Business, Raytheon Technical Services and numerous aerospace, technology and agriculture companies. A section of One Loudoun has been set aside for World Trade Center Dulles Airport, which is expected to be an organization linking local technology companies with overseas businesses, investors and joint venture partners.
Miller and Smith, a privately-owned builder and developer based in McLean, Va., received approvals for One Loudoun in 2007 with another partner. While the commercial portions of the project didn’t get off the ground immediately due to the economic downturn, $30 million in public projects were completed, including construction of the Steuart W. Weller Elementary School and several road improvements.
In October, 2010, Miller and NASH, a subsidiary of Sekisui House Ltd., Japan’s largest homebuilder, formed a joint venture to move One Loudoun forward. Headquartered in Arlington, Va., NASH has since invested in numerous residential communities in Texas, Florida, North Carolina, Georgia, Washington state, and Minnesota.