RagingWire it is for ‘Farmwell site’
It’s official. After heavy speculation that tech firm RagingWire would be the new owner of a prized 75-acre property in Ashburn, county officials announced today the company would indeed locate a new facility in “data center alley.”
RagingWire plans to develop a 750,000-square feet data center complex at the property on the corner of Farmwell and Waxpool roads. Loudoun’s Board of Supervisors gave the final nod to deal Tuesday night.
“The county bought this land for $13.5 million in 2004,” said Chairman Scott York (R-At Large). “A portion of this property will provide a much-needed school site. Now with this sale to RagingWire, the rest of the property has been returned to the tax rolls and will be the location of a major economic development project that will yield up to $16 million in additional tax revenue per year.”
Tom Flynn, the county’s director of economic development, noted the purchase agreement is subject to several provisions, including development time lines and design standards to ensure the types of development that the county envisioned on the site.
Based in Sacramento, Calif., RagingWire opened up its first Ashburn site earlier this year in Ashburn with a ceremony featuring Gov. Bob McDonnell. The company provides scalable power, cooling, and physical security solutions for IT systems and applications.
“This new deal reaffirms our commitment to Loudoun County,” George Macricosta, RagingWire founder and CEO, said in a statement. “Loudoun has welcomed us to the area and made it easier for us to do business … We appreciate the personal support of the Loudoun County Board of Supervisors and the Department of Economic Development.”
Loudoun County originally purchased the land parcel in 2004 as 100 acres for approximately $133,000 per acre with the intent of using it as a school site. The latest deal, announced first during a September board public hearing – with RagingWire’s name kept out of it per standard process – will feature the county selling just more than 75 acres for $265,000 per acre.
In the 1990s, a Saudi academy in Fairfax County announced plans to relocate a school to the site, despite vocal opposition from some local residents. Those plans eventually died.
Since Loudoun County became the landowner, it has used approximately 25 acres of the original purpose for a new elementary school, which is slated to open next year.
Supervisor Shawn Williams (R-Broad Run) said the land is some of the most valued in Loudoun County, considering it’s wired for data center use and in one of the major employment corridors in the county.