Reston Spring

Reston Spring
Reston Spring

Saturday, January 30, 2010

County to Issue Garage Bonds, Washington Post, Fairfax Briefs, January 28, 2010

Fairfax County Times Staff

The Fairfax County Board of Supervisors has unanimously approved issuing up to $110 million in bonds to help pay for a 2,300-space underground parking garage and related facilities at the future Wiehle Avenue Metro station in Reston.

The bonds would support a public-private partnership with developer Comstock Partners the board approved in June.

Comstock plans to build apartments, shops and office space in a 980,000-square-foot complex above the garage. It will build the parking and kiss-and-ride areas and bus bays for the county.

The county expects to recoup the estimated $90 million cost of the parking garage over time through parking fees and Comstock's lease of the property.

For other items from this brief, click here.

1 comment:

  1. Does anyone know whether this is the normal process? It seems strange to raise money for the project before the Planning Commission and the Board of Supervisors have approved the project.


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