For many Tysons residents and commuters the large, excavated, but dormant pit at the corner of Tysons Boulevard and Galleria Drive has been a confusing sight. Across the street Macerich has been full speed on the construction of Tysons Tower, and all around Tysons the commercial market has seen a boom in investment as noted in a recent Washington Post article.
So it left many perplexed when Lerner Enterprises, the original mega-developer for much of Tysons’s growth history, began earthwork operations for their new 18-story tower, 1775 Tysons Boulevard, only to stall further progress for the past two years.
It appears that Lerner has now reconsidered the previously viewed soft market in the “suburban” office scene and will be pushing forward with vertical construction of 1775 starting in Quarter 1, 2014 based on a press release by Cushman & Wakefield (real estate services representative for the property).
“As of now, Lerner is moving forward with Tysons II construction with or without a tenant” says Amy Strope, Marketing Manager for Cushman & Wakefield.
The project sits directly adjacent to Block E of Arbor Row, which is currently under construction, as well as the AMT (Association for Manufacturing Technology) headquarters, preparing for construction in Quarter 4, 2014.
1775 Tysons Boulevard is anticipated to have a 27 month construction period with delivery in Quarter 2, 2016. No information yet about whether any ground floor retail will be included with the project, however new information from the Lerner Enterprises’ website shows that a substantial public space is envisioned for the corner located along Tysons Boulevard and Galleria Drive. This would help tie together an under-used but metro adjacent part of town.
Most importantly this project signals a green light to others who were concerned with testing the waters of the Tysons market, especially if it follows a similar path as the very successful Tysons Tower project by filling vacant leases prior to construction completion. Ultimately that continued market trajectory, via private investment and redevelopment, is what will help transform Tysons from an office park to a redefined urban space.
Our other stories on 1775* http://thetysonscorner.com/lerners-1775-sees-activity-with-metro-near-completion/ * http://thetysonscorner.com/1775-stalled-there-is-still-time-to-change/ * http://thetysonscorner.com/updates-from-tysons-ii/ * http://thetysonscorner.com/1775-tysons-the-pros-and-cons/