Washington Business Journal: Fannie Mae Eyes Move to Reston’s Core

by RestonNow.com January 3, 2018 at 4:00 pm 10 Comments

Fannie Mae is discussing plans to move its northern Virginia operations to possible locations in Reston, according to a report by the Washington Business Journal.

 The company, which currently leases space in Herndon and Reston, is scouting the area for roughly one million square feet for a new hub, including several sites like the future phase of Comstock Partners’ planned Reston Station, according to the report. 

Other options currently under development include Boston Properties’ mixed-use development at the door of the north Metro’s planned Silver Line station. Fannie Mae has not made any final decisions on the search.

The company already leases space at several local sites, including a 185,00-square-foot lease at One Reston Crescent that was signed in 2015. Boston Properties has also moved forward with plans for a 270,000-square-foot office project at 1750 President St. in Reston Town Center.

This post has been updated.

  • Big Drop

    This is a significant report. Buried within is the note that Fannie Mae has “moved forward with plans for a 270,000 square foot office project at 1750 Presidents Street in Reston Town Center.”

    This is where Anne Taylor and several other empty stores were. In another thread I noted the number of empty stores in RTC. Fannie Mae is going to take over a new 16 story office building between the Hyatt and the Signature apartments. For all of my criticism and fears this is a huge win for Boston Properties that ultimately will help Reston Town Center.

    I have to give credit when it is due.

    • 40yearsinreston

      If true, they have probably free parking

      • Greg

        That row of buildings is set to be redeveloped, too, so it may not be long before Clydes shuts down. The Tysons Clydes closed last year for redevelopment there.

    • restonreston

      I think that is an error. According to the Washington Business Journal story, Boston Properties is going forward with the plans for the 16-story office tower, NOT Fannie Mae.

      • Greg

        BP will build it; Fannie Mae will lease it, no?

    • Chuck Morningwood

      This doesn’t change squat. I still have to pay for parking, so I’m still not going.

  • The Taxman Cometh

    Well, for outfits that were about to be declared dead (or at least consolidated) after the 2008 housing meltdown, both Fannie Mae and Freddie Mac seem to have enough vigorish, now that they make money for Uncle Sugar again….

    • 40yearsinreston

      No vigorish required – just some funds to bolster their balance sheet after the real estate bust
      I would prefer Uncle got it than the Wall St vampires

  • Greg

    So, does this mean that Fannie Mae is looking for an additional 1 million square feet in addition to its location at the old Sallie Mae HQ on American Dream Way?

    • 40yearsinreston

      The ex Sallie Mae HQ was used by IT operations
      It isn’t large enough for the other sections of Fannie Mae
      So I would say yes


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