The Fairfax County Board of Supervisors officially signed off on a public-private partnership agreement Tuesday that will lead to the redevelopment of a county-owned apartment complex.
The agreement allows Lake Anne Development Partners to press ahead with the land-use process to redevelop the Crescent apartments, a 181-unit complex in Reston’s Lake Anne community. The land is zoned for up to 900 apartments.
One of the primary goals of the project is to serve as a catalyst for revitalizing Lake Anne Village Center, the iconic first village center built in the planned community in the 1960s. Project planners hope that bringing more residents to the neighborhood, along with some other changes, will help support the small businesses located on the plaza.
Crescent is currently home to families with incomes less than 60 percent of area median income, or about $64,000 per year for a family of four.
As part of the agreement, Lake Anne Development Partners must reserve at least 181 of the new units for people of that income level.
The developer will also have to get county approval on its relocation plan for residents during the redevelopment and give those residents a chance to continue living at the complex following the redevelopment.
Although some residents expressed some anxiety about the process during a public hearing on the proposal in July, the redevelopment project does have the support of the Lake Anne community and business owners as a whole.
Supervisor Cathy Hudgins (D-Hunter Mill) said she appreciates the involvement of the community in this process.
“This is the point that they have been waiting for and I am pleased to see this move forward,” she said.
Now that the interim development agreement is approved, Lake Anne Development Partners can begin discussing its designs and vision for the community with residents and business owners, she said, as well as explaining its plans for relocating current residents during the construction phases.