In exchange for its offers, Georgelas is expected to win speedy approval for the rights to construct four apartment buildings, the first of which will be a 400-unit apartment tower built by Greystar on what is now a parking lot at the corner of Leesburg Pike and Spring Hill Road.
But while Georgelas and Greystar will likely be the first to market with new apartment towers, they will not have the opportunity to see what others achieve under the new Tysons land-use rules. Will every case proceed this smoothly? And can the county expect as many concessions from other developers? Here is some insight from five experts:
Barbara Byron, director of the Fairfax County office of community revitalization
Byron was quick to praise Georgelas for adhering to the new Tysons plan and agreeing to provide a breadth of public benefits — or proffers — including below-market rates for 20 percent of all the new housing units, nearly a half acre of public park space, storm water collection facilities and a new fire station, which will be incorporated into one of the buildings.
“I think in virtually every area in which we have asked them to step up, they have. So that does set a bar for others and it does that so the plan can be implemented,” she said.
Byron acknowledged that applicants following Georgelas have a tough act to follow, but said she expected that other builders to use many of the agreements Georgelas and the county had agreed to as a template.
“It’s helping both sides,” she said. “It’s helping the county find out how better to more fully implement the plan. It’s helping the private side understand the expectations.”
Mark C. Looney, partner, Cooley LLP
Looney, who represents other land owners seeking zoning changes in Tysons, said the county may have considered Georgelas favorably because only residential buildings — something county officials are eager to see — were considered in the first go-round. (Georgelas plans other uses that have not yet been considered by the county.) “You’re not under the same microscope as if you’re planning an office project or a mixed-use project with office,” Looney said.
But Looney also cautioned that future applicants may not take on as much as Georgelas did, especially if they are part of a new tax district being considered that would require Tysons land owners to pay for additional transportation costs. Georgelas, for instance, agreed to foot the bill for improvements to roads on its property even though it may end up paying the new transportation tax as well. “That may prove to be redundant if a broader financing plan can be put in place,” Looney said.
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