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Route 28 area 'highly desirable' for business
The potential for business greatness in the Route 28 corridor was the topic of discussion Nov. 5.
The Loudoun Board of Supervisors in February hired Fairfax-based Fulton Research, a real estate adviser group, to conduct a market analysis to decide what's best economically for the Route 28 corridor. Fulton's Margarita Foster presented the findings at the Loudoun County Economic Development Commission meeting last week.
Foster called the area "a highly desirable place for business," but added that zoning changes are needed to attract top-notch businesses.
The research looked at the corridor's economic development potential in the next 30 years in regard to a mixed-use project, or the possibility of retail, residential and office space development.
According to Foster, many factors favor development in the Route 28 corridor -- Loudoun's highly educated workforce, the emergence of the information technology and defense contractor sectors, and the arrival of four metro stations in coming decades. In 2040, passenger activity is projected to increase to 55 million annually -- from the current 24 million -- due in part to the corridor's close proximity to Washington Dulles International Airport. This will make the area heavily traveled and attractive to successful businesses, Foster said.
However, according to Fulton's research, the corridor "is not developing in a manner consistent with its potential to be a world-class business location."
The main issue deterring proper development is the zoning. The current 1980s model promotes only big office parks. Foster suggested supervisors lift the retail overlay district from the corridor to prevent big-box stores and their large parking lots. Instead, she promoted class A office space. According to Fulton, class A office buildings are "generally the best located, most accessible and physically appealing and command the highest rents."
Foster said class A office space is "quality buildings in quality settings." Class A office parks recruit and retain businesses by providing such amenities as hotels, retail and "white tablecloth restaurants" within walking distance. Foster used the Reston Town Center and downtown Herndon as successful examples in her presentation.
To wrap up her presentation, Foster presented the following recommended changes -- in addition to lifting the retail overlay district -- to the commission: Modify the keynote employment policy; allow high-density residential in appropriate areas to reduce commutes and keep the area vibrant after business hours; reduce zoning fees to encourage long-term tax revenues; target class A office space and accommodate existing businesses; and brand the corridor as a world-class working environment.
Contact the writer at hhager@timespapers.com
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