Once again, Tysons Corner's growth is being questioned. The construction of Tyson Tower, located next to Tysons Corner Center, is being referred to as "speculative."
The controversy stems from the fact that construction for Macerich Company's 1.3 million square foot, multi-use project which will include a high-end office building, a 400-unit apartment tower and a four star hotel, is scheduled to begin in six months yet no tenants have committed to office space.
In The Macerich Company (MAC) Q1 2011 Earnings Call on May 5, 2011, Arthur Coppola, CEO stated:" ... our Tysons Corner project is just getting stronger and stronger in terms of its reception in the marketplace. And we're very excited about the timing and the opportunity to deliver our new expansion of Tysons Corner with office and residential components approximately 3 years from now. So we're very, very positive in terms of how we see this pipeline. "
As a successful Realtor in Tyson Corner, McLean and Vienna, I agree with this CEO whose company successfully leased 100,000 square feet of the renovated 1861 International Drive building, with green roof technology, in Tysons Corner.
The new Macerich multi-use project is in the perfect location. The project will be open after the Silver Line Metro station that is located within walking distance from the project. This will alleviate any traffic congestion that can be caused by a business center's expansion of this size.
Can you imagine the convenience of having your apartment located right next to your office? What about the time and expenses saved in travel? Out of town business associates/clients can take the metro from the airport directly to their hotel, check in, and walk to your office.
Entertaining clients will be a breeze since Tyson Corner is home to many fine restaurants. If you have business associates/clients with differing tastes then check out Panache; they serve Mediterranean fusion dishes which gathers inspiration from France, Italy and Spain.
I am Jeff Wu and I can assist you with all of your real estate needs in Tysons Corner, McLean or Vienna. If you are planning on selling your house or purchasing a home, please contact me at Agent Knows Homes.
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