Too Much Retail?
Thursday, March 15, 2007; Page LZ03
A recent market study of the Route 7 corridor from Leesburg to the Fairfax County line found that the total amount of approved, unbuilt retail development may be greater than consumer demand will support over the next 15 to 20 years.
County officials need to be more proactive in guiding future retail development in the corridor, protecting areas that could accommodate office and industrial uses so that the county can maintain a diverse economic base, according to the study by the Loudoun County Department of Economic Development.
The study estimated that demand will support about 2.5 million square feet of new retail space, less than the 4.3 million square feet in the pipeline. But it also said there is an unmet demand for high-end retail goods and that those spending dollars are "leaking" out of Loudoun and flowing to Fairfax County.
