In 2010, Fairfax County adopted the 20-year comprehensive Tysons Plan to guide major changes to the county’s sprawling commercial center known as Tysons Corner. The plan envisions significantly greater development intensity within walking distance of four new Metrorail stations, which opened in 2014, along with mixed-use development, a walkable street grid and other physical changes that support transit use.
To access the lucrative redevelopment options outlined in the plan, developers are expected to make 20 percent of residential development units affordable to low- and moderate-income households, or contribute $3 per square foot to the county’s affordable housing trust fund if building commercial or hotel space. By adhering to these guidelines, developers can build to an unlimited floor area ratio (FAR) within a quarter-mile of each Metro station, or up to a FAR of 2.4 or 3.0 elsewhere in each transit district.
As of early 2015, the policy had produced 120 affordable units. County staff estimates that if existing development proposals are fully built out they will include a total of nearly 2,300 affordable units for households earning between 81 and 120 percent of area median income (AMI) and another 1,500 affordable units for households at less than 70 percent of AMI. These housing units will be required to stay affordable for 50 years if rented and 30 years if owner-occupied.
The 17 million square feet of commercial and hotel space under construction or in the pipeline in Tysons Corner is expected to also generate tens of millions of dollars in contributions to the county’s affordable housing trust fund, all of which must be spent in the Tysons Plan area.
For More Info:
Charlene Fuhrman-Schulz, Fairfax County Department of Housing and Community Development
Email: [email protected]