The public-private redevelopment of historic downtown Herndon’s not particularly historic sea of surface parking lots is expected to get underway before the end of 2019.
Reston-based Comstock Cos. (NASDAQ: CHCI), the developer of Reston Station and Loudoun Station, is working toward closing on its acquisition of the nearly 5-acre, town-owned site. Comstock was selected by Herndon in late 2016 to redevelop the property — largely parking lots in addition to the existing ArtSpace building and a shuttered Suburu dealership — bounded by Station Street to the east, Center Street to the west, the Washington & Old Dominion Trail to the north and Elden Street to the south.
The land will be sold to Comstock, likely by the end of the year with groundbreaking to follow, once building permits are filed and a “further agreement to protect town financial interests” is approved by the Town Council, the town said in a recent update to the project website.
In the meantime, Comstock has launched…Read the full story from the Washington Business Journal.