Toll Brothers plans to purchase a Sunrise Valley Drive office property slated for luxury townhouse development, the Washington Business Journal reports.
The company will finalize a deal to purchase the land from Rooney Properties “later this year,” the WBJ says. As we previously reported, Rooney purchased the property in 2013 and Fairfax County approved a rezoning request in October. In February, a permit application to tear down the six-story office building currently on the 3.5 acres was filed.
The purchase price of the reported sale was not disclosed.
The WBJ reports Toll Brothers plans to follow through on the plan to tear down the office building, with an aim to complete site-plan approval by fall. Sales would begin next summer, according to the report, with prices in the $800,000 range.
The property is located across Roland Clarke Place from the former location of the API building, which was razed last year to make room for the future Sunrise Square cluster. Also owned by Rooney Properties, that will consist of 34 townhouses and 10 condos.
Both properties are part of a large number of developments planned for the stretch between the Wiehle-Reston East Metro station and the future Reston Town Center station, as progression of the Silver Line’s Phase 2 continues.
Rendering courtesy Rooney Properties
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