Thursday, December 14, 2006
On the heels of its Comprehensive Plan Amendment being approved by the Loudoun County Board of Supervisors, Buchanan Partners is now ready to break ground on its $1 billion, 20-year plan to transform the sleepy locale of Arcola into Arcola Center, a 400-acre project that, when completed, will contain 2.1 million sf of office space, 1.1 million sf of retail, 80 acres of townhomes and multifamily units, two hotels, and a tourism center. A key component of this project will be the construction of a new plaza-oriented "town center" lined with 145,000 sf of boutiques and restaurants. Buchanan is working with EYA on a master plan for the residential neighborhoods, and EYA and other developers will then construct the homes in a 69-acres site called the Village and another parcel that will be called the Residences at Main Street. Retail leasing will be handled by KLNB, and the search is now on for major stores to be the anchors. The retail component is expected to be ready by the end of 2008.