New Broad-Washington Class A Office Project Has Creative Cauldron Venue

By Nicholas F. Benton

THIS ARTISTIC RENDERING of the new project being proposed for the northeast intersection of Washington and Broad in the center of the City of Falls Church shows the Class A office building (foreground) and apartment building (to the right on E. Broad), ground floor retail and rooftop amenity. (Photo: courtesy Kiddar Capital)

(via Plans for a first-rate Class A 67,000 square foot office building with ground floor retail and attached to a second building with 292 luxury apartments smack in the middle of downtown Falls Church were filed with the City of Falls Church this week…

With the combination of 67,000 square feet of office space and 292 apartments, the developers predict that 250 to 300 permanent jobs will be created there, combined with the residents of the apartments to put “feet on the street” in that natural City center, making it a bustling and vibrant downtown.

But the biggest boost of all from this proposed new project will be what it does for the City’s tax coffers. The developers’ consultants, the same that the City of Falls Church uses to calculate such things, project that once completed the project will bring $1.4 million in annual tax yields to alleviate the tax pressures on residents to provide the many infrastructure needs now pressing on the City, such as a renovated City Hall, library and a new high school. Over the course of 20 years it is projected that the project could bring $31.4 million to the City tax coffers, with a lot of collateral spin-off effects, as well.

View the full story HERE.

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