Wednesday, June 13, 2007

Pearson Square in Falls Church To Go Rental

Continuing a familiar trend, last week Atlantic Realty, the developer of the mixed-use Pearson Square condominium project currently under construction in Falls Church on the former 4.6-acre site of a duckpin bowling alley at 410 S. Maple Street between Route 7 and South Washington Street, approached the Falls Church City Council and requested permission to convert all of the building’s 230 residential units from condos to rental apartments. If Atlantic wins approval for this conversion to rentals, the company will then sell the units to Carr Homes, which in turn has a deal to convey them to the Trans-Western Company. The Falls Church City Council is expected to officially vote on this request at an upcoming meeting. This move by Atlantic is not expected to impact its deal with the city on the massive City Center redevelopment plan.



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