Lake Anne Redevelopment Partners has abandoned its redevelopment plan. An illustration of that plan is seem above. (Lake Anne Redevelopment Partners/Lake Anne Redevelopment Partners)

A plan to redevelop a portion of Reston with 1,000 new homes, retail stores and office buildings is being abandoned after the site’s developer realized that the project is no longer economically feasible, Fairfax County officials said Friday.

The Lake Anne redevelopment project would have razed an ­affordable-housing apartment building and used parking lots and other property near the center of Reston for a mixed-use development that would have included townhouses, apartment buildings and an amphitheater.

The project, which affordable-housing advocates initially opposed, was part of a larger county plan to rebuild Reston with new homes and office towers close to two new Metrorail Silver Line stations.

In a statement, Fairfax County Supervisor Catherine M. Hudgins (D-Hunter Mill) said the project’s developer, Lake Anne Development Partners, notified the county that the 1.7 million-square-foot project is no longer economically feasible.

“As a result, the Fairfax County Board of Supervisors and LADP are in the process of terminating their current contract,” Hudgins’s statement read. “The County is deeply disappointed by this turn of events and shares the frustration that we know the community must be feeling.”

Lake Anne Development Partners — whose website had been taken down on Friday — could not be reached for comment.