Developer resubmits plan for former Fannie Mae campus in Reston after previous approval voided

RestonNow.com April 18, 2023 at 10:16am

The developer looking to transform the former Fannie Mae complex in Reston has resubmitted plans for Fairfax County’s consideration.

Developer Wheelock Capital and representative McGuireWoods resubmitted plans on April 10 for the redevelopment of the 28-acre property due to a technical issue.

Although the plan was first approved in August of last year, the development team sent a late buyout payment of roughly $190,000 dollars to the county beyond the preferred 60-day period. As a result, last year’s approval was voided.

The previously approved agreement with the county required the developer to pay a lump sum because the residential units approved the site are not subject to a nonresidential tax in connection with the special tax district created to finance phase two of the Silver Line and associated infrastructure.

The new application replaces the previously approved plan, which called for up to 228,000 square feet of residential development and an option for two additional office buildings on the site.

The new proposal calls for 74 townhouses and eight two-over-two units on the property, which is currently developed with an office building that was once home to Fannie Mae. That building would remain on the property, which is the site of ponds with paths and a protected environmental zone.

The total number of units planned for the property hasn’t changed.

The applicant says the new plan reduces the site’s overall density “while furthering Reston goals of promoting transit-oriented and pedestrian-scaled development, providing affordable housing, enhancing public open space amenities and recreation opportunities, and stream valley restoration.”

The applicant hopes to retain the mission of the original Sallie Mae campus with “a bit of a twist.”

“The park itself will now be home to permanent residents who live literally on the park and can enjoy the beauty of nature at their doorstep,” the application said.

The residential units would be located on the northern end of the property. Existing access points off of American Dream Way will be realigned, and two additional access points will be added to serve the residential development.

Concerns about access dominated last year’s discussions, particularly gated access to the office area of the property.

A private road system and connections to the trail system are also proposed. A new sidewalk will be constructed along the Sunset Hills Road frontage to the property, as well as a modified intersection at Sunset Hill Road and American Dream Way.

The new proposal has not yet been formally accepted for review by the county.