F.C. Report: Large Net Gains from Mixed Use Projects

March 6, 2013 5:51 PM0 comments

In a “Data and Analysis of Mixed Use Development” report on the impact of the City’s large scale mixed use projects by Falls Church City Manager Wyatt Shields to the F.C. City Council Monday, it was reported that the five projects completed since 2002 – the Byron, Pearson Square, Read Building, Spectrum and Broadway – have generated an average net $2.459 million in added revenues to the City, compared to about $363,560 that came from the properties before their development.

It also showed that, of the increase in school enrollment in the last decade, less than 30 percent came from occupants of the new mixed use projects. The report also showed that the five completed projects, one under construction (Northgate) and two currently under Council consideration (Reserve at Tinner Hill and Rushmark’s Harris Teeter-based project) all totaled have occupied only 19.1 acres in the City’s 196 total acres zoned for commercial, industrial and mixed uses, or only 9.7 percent.

 

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