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Washington Property Company Sells VA Land for $11.5 Million

Washington Property Company (WPC) of Bethesda, MD has sold a 13.54 acre parcel of land in Loudoun County, VA to Pulte Homes for $11.5 million. WPC successfully rezoned the land from commercial to residential use, and Pulte intends to build 95 town homes on the site.

University Center Parcel P-1 is located near the intersection of Routes 7 and 28, accessible from Riverside Parkway and adjacent to an existing town home community. Bles Park, with frontage on both Broad Run and the Potomac River, is across Riverside Parkway from the site. Also nearby is the expansive Lansdowne community, Inova Loudoun Hospital, the Howard Hughes Medical Institute’s Janelia Research Campus, and Dulles Town Center.

“WPC acquired this parcel during the economic downturn when commercially zoned land value was low,” said Daryl South, WPC’s Senior Vice President of Development. “Due to the location and steep slope of the site, it was better suited for residential use. Rezoning was completed at…

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Posted by Leslie Braunstein on May 6, 2015 at 4:02pm

New condos replace old office building in downtown Silver Spring, MD

Options for buying a home in vibrant downtown Silver Spring, MD will soon expand with completion of Octave 1320, a new condominium development at 1320 Fenwick Lane. Now under construction on the site of a former office building and expected to deliver in the fall of 2015, Octave 1320 will offer 102 one- and two-bedroom condominium homes with prices starting in the low $200,000s. Presales by W.C. & A.N. Miller Realtors, a Long and Foster company, will begin in early May.

Octave 1320 is the only new condominium development in the submarket, said Peter McLaughlin of ProMark Development, developer of the new community. “Octave 1320 will give buyers the chance to live in the heart of an incredibly convenient walkable community, just steps to the Metro and a wide range of shops, restaurants, and entertainment venues, while building homeowner equity.”

Design by BKV Group, Octave 1320 condominiums will feature high ceilings, floor-to-ceiling glass, and corner sliding barn…

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Posted by Leslie Braunstein on April 30, 2015 at 11:12am

 
 
 

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