A 4.675-acre site in downtown Herndon is expected to become a mixed-use project that includes residential and commercial structures, an arts center, and a parking garage.
The Town of Herndon and Comstock Partners announced this week that they have completed a proposed comprehensive agreement for the project. It will be discussed with the community during an informational town-hall meeting Oct. 12, and the Town Council will consider adoption of the plan following a public hearing Oct. 24.
According to information provided by the Town of Herndon:
The proposed agreement between the town and Comstock is reflective of Comstock’s proposal, submitted in response to the town’s Request for Proposals (RFP), for a redevelopment project comprised of approximately 281 residential apartments, approximately 17,600 square feet of retail space, an 18,000 square feet Arts Center and an approximately 761-space parking garage. As per the proposed agreement, Comstock anticipates beginning construction on the project early in 2019, with completion estimated in 2021.
The site on which the development would take place is north of Elden Street, east of Center Street, west of Station Street and south of the Washington & Old Dominion Trail. The space in question includes municipal parking lots and the home of ArtSpace Herndon, as well as the former Stohlman Subaru building on Elden Street.
The Herndon Station building at the corner of Elden and Station streets is not included, nor is the Ice House Cafe & Oyster Bar building next door.
According to Herndon’s website, the town’s purchase price for the land was $5.8 million. The town will be selling the land to Comstock and contributing an additional $3.6 million in allowances, which include environmental remediation ($500,000), transitional public parking ($500,000), Arts Center relocation ($250,000) and culvert repair ($100,000).
In return, Comstock is to provide $12 million in assets, including 339 public parking spaces in the parking garage, to include 60 for the Arts Center and 59 for the retail space; the 18,000-square foot Arts Center; and $505,000 in proffer funds for town recreational services.
“This proposed comprehensive agreement comes after months of spirited negotiation between the town and Comstock,” said Bill Ashton, town manager, in the press release. “Ultimately, we came to agreement by working toward the same vision: a vibrant, energized downtown that is financially viable both to the developer and to the town. We are grateful to Comstock for their collaborative spirit throughout these negotiations and look forward to public comment and Town Council deliberations.”
Christopher Clemente, Comstock CEO, said the company is “excited to have an opportunity to participate in the reshaping of Herndon’s downtown.”
“Comstock is committed to creating a vibrant cultural arts district and community open spaces together with high quality residences, exciting retail spaces, and an accessible structured parking facility,” Clemente said in the release. “We take great pride in delivering quality developments that fit well in the community where they are located and we look forward to partnering with the Town of Herndon on this important project.”
The town-hall meeting is scheduled for Thursday, Oct. 12, at 7 p.m. at Herndon Council Chambers (765 Lynn St.). The public hearing is scheduled for Tuesday, Oct. 24, at 7 p.m. in the same space, and it is expected to be followed by the council’s vote.
More information about the project can be found at www.herndon-va.gov/downtown.