(Updated at 3:35 p.m.) Some 6.3 million square feet of office space is either currently under construction or approved and awaiting construction, according to latest figures from Arlington County.
The development of 5.3 million square feet of office, 836,543 square feet of retail and 7,572 residential units in Arlington has been approved by the county but is not yet under construction, according to the 2012 Arlington County Government annual report. That’s up from last year’s annual report, when 4.3 million square feet of office, 813,479 square feet of retail and 5,839 residential units were approved and awaiting construction.
As of Sept. 30, approximately 1 million square feet of office, 150,000 square feet of retail and 1,380 residential units were under construction, up about 50 percent, 70 percent and 20 percent year-over-year, respectively.
The figures are a reflection of continued developer interest in Arlington County, despite economic competition from D.C. and the new Silver Line corridor.
“The increased competition from the Silver Line construction certainly exists, and our team is working diligently to showcase the opportunity that exists in Arlington,” said Arlington Economic Development spokeswoman Cara O’Donnell. “Developers are continuing to plan new and exciting projects in Arlington, and our BizLaunch program works with as many as 3,000 entrepreneurs and small businesses every year.”
Still, some believe that the Silver Line may take some Metro-oriented development away from Arlington, particularly after the first section of the rail line — running from Reston and Tysons to Arlington and D.C. — opens in late 2013 or early 2014.
Most of the projects not yet under construction in Arlington were approved in the past 5 years, although some date back to the 1990s and one dates back to 1981. All told, there is about 40 million square feet of office space in Arlington, plus 43,000 residential units along Metro corridors and 105,000 residential units countywide, based on the county’s 2012 profile.
The developments approved but not yet under construction (as of 11/1/12) include:
Rosslyn Gateway Phases 1 & 2 — 1901 Ft. Myer Drive — 490,056 sq ft office / 26,376 sq ft retail / 273 residential units / 148 hotel rooms