Chris Clemente.
Chris Clemente
Founder at Comstock
Reston Station, developed by Comstock in the heart of Reston, is one of the buzziest areas in Northern Virginia, with nearly 800,000 square feet of Class A office in three towers, 450 luxury and workforce residential units, and 50,000 square feet of restaurant and service-oriented retail space.
Now, the developer is underway with Reston Station Phase II, slated to be delivered in 2024, and spanning 1.5 million square feet. It will include Virginia’s first JW Marriott luxury hotel and branded condominium tower; 500,000 square feet of office space; an additional residential tower; and 80,000 square feet of dining, entertainment and wellness spaces.
“I am most proud of the collective commitment of our entire team to work together throughout the pandemic to effectively impact continued growth across our business units, including the completion and stabilization of Reston Station Phase I and commencing development for Reston Station Phase II,” Comstock founder Chris Clemente said.
But that’s just the tip of the iceberg over the past 12 months.
For instance, Comstock recently acquired two residential assets rebranded as BLVD Forty-Four and BLVD Ansel, located at Rockville Station in Montgomery County, Md. Institutional lenders Apollo and MetLife provided a combined $157 million to fund the acquisition. This transaction positioned Comstock as the leading provider of luxury residences in Rockville Town Center at the doorstep of Metro’s Rockville Station.
Comstock also acquired a 211,000-square-foot Class A office tower adjacent to the Clarendon Metro Station in Arlington County, Va.’s premier employment corridor. Then there’s Loudoun Station Phase II, consisting of 318 luxury residences and approximately 40,000 square feet of retail, which was also completed this past year.
Comstock’s ongoing expansion of both Reston Station and Loudoun Station positions it as the leading developer of mixed-use and transit-oriented projects in the Dulles Corridor. With Phase II of Metro’s Silver Line scheduled to open later this year, it will only further that success, as it will connect Loudoun County to Dulles International Airport, Reston, Tysons (also in Virginia) and Washington, D.C.
