The county is planning to sell a roughly one-acre parcel of land north of Reston Station Boulevard.
Under the proposal, which will be considered by the Fairfax County Board of Supervisors tomorrow (Tuesday) will consider selling off the land so it can be integrated in the rezoning of Reston Station Promenade, a mixed-use project by Comstock that was approved in April last year.
The sale of the land would “enable a more efficient redevelopment” of that project, according to the county.
If approved, the developer would pay roughly $3 million for the parcel and offer a density transfer of roughly 147,690 square feet to the plaza area near the county-owned Wiehle-Reston East garage.
County officials estimate that transfer would bring in a rental stream of roughly $8.6 million from Comstock, which currently pays an annual base rent of $2.9 million for its leases with the board at Reston Station.
Rents will increase as Comstock builds more pieces of its mixed-use project under a 99-year lease between the developer and the county.
An appraisal states the sale area has a value of roughly $10.8 million.
County staff recommend approval the sale, which would result in more density near the Metro Station, simplify the ownership structure of Reston Station Promenade.
Approval of the sale will require amending the lease with Comstock.
One major change in the lease includes a requirement for Comstock to permit electoral campaign and voter registration activities on the plaza near the entry to the north entrance of the Wiehle-Reston East Metrorail Station.
Earlier this year, free speech advocates and candidates seeking office raised concerns about Comstock’s restrictions on campaigning and electioneering at the plaza, which is considered a public space. County Concerned about civil rights violations, Board Chairwoman Sharon Bulova threatened legal action if Comstock did not take steps to allow campaign activities on the plaza.
The board is expected to make a decision on the sale tomorrow. More information about the proposal is available online.
Photo via handout/Fairfax County Government