A proposed redevelopment of Springfield Town Center will include a new hotel and apartments, the first residential development in the area in more than two decades.
The Fairfax County Planning Commission recently approved the replacement of a surface parking lot with an apartment building with more than 400 residential units and a five-story hotel, Northern Virginia Magazine has reported.
At its Nov. 30, 2022 meeting, the commission gave the go-ahead to Pennsylvania Real Estate Investment Trust (PREIT) — a retail REIT based in Philadelphia — to develop two empty land parcels at the town center.
Rebusiness Online reports that the hotel, owned by InterMountain Management, will have 165 rooms, while the apartment building — owned by Hanover R.S. Limited Partnership — will feature a 460-unit multifamily community. The development application says the building of the apartment building and hotel would be part of the town center’s “much-desired rebirth.”
