Real Estate Market Responds Coolly to Reston Metro Station, Fairfax News, April 2, 2012

by buzzmcclain

The blue and white cranes looming over the Dulles Toll Road at Wiehle Avenue represent the future, and the future will be called Reston Station, at least for now.
When the ground level station is completed in 2013 there will be entrances on both sides of the Toll Road, a pedestrian bridge and, on the Sunset Hills Road side, parking for 2,300 cars.

The incomplete Metro station has already inspired new business construction in the immediate area, with new offices, retail space and restaurants slated for nearby buildings. 

But what impact is the impending public transportation having on residential real estate prices in the immediate area, now and later?

“It’s been interesting,” says Holly Weatherwax of Momentum Realty. “We’re definitely marketing properties that are close to the Reston Station as being close to it, but my view of what buyers are doing, they aren’t necessarily rushing to get out of Arlington because the Reston station is opening. There’s simply more of an awareness that it will open.”

Weatherwax says she hasn’t seen “a big change in nearby prices because of the station yet. It hasn’t translated into dollar signs.” . . .

 Click here to read the rest.