Boston Properties CEO: We Want to ‘Ensure That Reston Remains a Preeminent Location’

by Dave Emke April 26, 2017 at 12:30 pm 79 Comments

In response to a question during the company’s quarterly earnings conference call Wednesday, Boston Properties CEO Owen Thomas said the paid-parking situation at Reston Town Center will continue to be evaluated.

Thomas was asked about “an interesting article” about the situation and tenants’ concerns about business being down. In response, the CEO said:

“We did implement paid parking at Reston Town Center at the beginning of the year. As you know, Reston is an urban location, it has structure parking primarily, and there is going to be the arrival of mass transit to the region. It’s certainly not uncommon for areas with this kind of density to have paid parking. We are utilizing a state-of-the-art parking system that is being used in cities all over the U.S., and actually the use of these systems is growing around the U.S. In Reston specifically, the system has been adopted by 140,000 users so far. Now that being said, as you suggest, certainly not all of our customers — some, but certainly not all of our customers — have expressed some concerns about the system or simply having to pay for parking, and we are continuing to evaluate our execution and make adjustments to ensure that Reston remains a preeminent location for business and residents in Northern Virginia.”

Merchants in the Town Center have reported business to be down as much as 40 percent since paid parking went into effect Jan. 3, and an organized protest of the system in March drew hundreds of participants. Jackson’s restaurant has filed a lawsuit over the implementation, and other businesses have threatened the same; however, Boston Properties says it is confident it will prevail in any legal battles.

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