An Arlington-based company has closed on the purchase of a 260-unit apartment community near the Wiehle-Reston East Metro Station.
“We are proud to close out the year by adding such an incredible property to our portfolio,” says Christopher Hanessian, President of Snell Properties. “Lincoln at Wiehle Station is steps away from the Metro and provides incredible access to one of the most dynamic and growing parts of Northern Virginia.”
Peter Colarulli, the company’s Vice President, touted the “prime location” of the new community.
“Reston’s incredible employment growth will continue to attract renters to the area, and additional development in and around Reston Station will only make this property even more desirable.”
The community includes a mix of studio, one-bedroom, two-bedroom and three-bedroom plans. Rents range from $2,110 to $2,380.
The terms of the deal were not disclosed. Lincoln Property Company will manage the property.
Photo via Snell Properties
The Fairfax County Board of Supervisors this week approved plans for a new 260-unit apartment complex near the Wiehle-Reston East Metro Station.
The seven-story apartment complex, dubbed “the Lincoln,” will be located next to the site of the future Metro Commerce Center, a multi-acre development by Vornado Realty planned to consist of four towers featuring offices, residences, retail and a hotel.
The Lincoln is slated to be built on three acres near the corner of Sunrise Valley Drive and Commerce Park Drive, where a surface-level parking garage for the Executive II office building is located now.
“The developer will also help to build the planned shared-use path along Sunrise Valley,” the board said in its announcement Thursday.
The site for the Lincoln complex is close to Reston National Golf Course and Soapstone Drive, where a future toll road crossing is planned.