Springfield Town Center Coming Soon! (With Updates and Edits)

By
Real Estate Agent with RE/MAX Executives VA0225060364, MD638478

****Note, the following blog post has been modified to reflect the updated status of this project****

Hi Everyone!

I just attended a meeting at the Springfield Golf and Country Club about the update on Springfield Town Center.

For those of you that don't know about it, Springfield Town Center is a proposed development project that will totally revitalize the Springfield Mall. The company Vornado purchased the Springfield mall a couple of years ago. Since then, they have been busy getting approvals from the County Boards and the like to go forward with the project. It looks as if the first approvals will start happening in the fall/winter of 2008, with construction beginning sometime in 2009-2010.

Included in the plans are several mixed-use sections along the -acre site. The plans focus on turning the mall outward through the use of clever architectural features, lots of glass and natural light. The "anchor" stores, JC Penney, Macy's and Target will remain part of the development.

There are plans to add a "Village Drive" that will retail and food establishments, cafe seating, and pedestrian walkways. The design will allow the area to be closed off for concerts, farmer's markets, and other special events.

There will be areas of greenery as well, including a possible dog park and several other areas that may be opened to the public. There are also proposed plans for a "green" garage roof, complete with tiered landscaping, tennis courts, and a park, all surrounded by adjacent residential units.

These plans come at a time when revitilization of this area is badly needed. The mall's movie theaters have been closed and 50% of the retail space is vacant. There has been reported gang activity and some isolated violent incidents as well.

The developers hope to make Springfield Mall a place that people want to come to and stay. The proximity of Metro provides ample opportunity for patrons from across the metro area to enjoy the new restaurants and shops.

The website for the new development is www.springfieldtowncenter.com. It is now live.

Of course you can always check back here for updates. In addition, I will be happy to help anyone who is interested in purchasing a residential unit in the development.

UPDATE: 8-18-08. I have been told that the structure currently being built next to the Bridge in Springfield is a new Marriot Hotel! While this is not part of the Vornado/Springfield Mall project, it does bode well for the revitalization of the area, probably in part, thanks to BRAC.

UPDATE: 9-22-08. The www.springfieldtowncenter.com site has officially been launched!

UPDATE: 7-2010. Vornado is in default of the loan.

UPDATE: 12-3-2010. Cityblitz reports that loan Vornado secured has been placed with a special servicer due to imminent default.

UPDATE 3-17-2010.  Vornado receives Notice of Default from servicer.

UPDATE 11-30-2010. Washington Post reports on the Mall as being "At a Crossroads".

UPDATE 2/12/2011. See blog at http://activerain.com/action/blogs_admin/write/2132733.

 

 

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Cathy Valdiviez Baumbusch, REALTOR. Licensed in VA, MD, and DC. 

Red Dress Realty at RE/MAX Executives

DIRECT: 202-630-2MOV 

8442 Old Keene Mill Rd., Springfield, VA, 22152

2704 Richmond Highway, Alexandria, VA 22301

Cathy has lived in the DC Metro area since 1996. She currently lives in West Springfield, VA. Licensed since 2001 and serves clients in Virginia, Maryland and the District of Columbia.

Cathy's service area includes Fairfax County, Alexandria, Arlington, Falls Church in Virginia and Prince George's, and Montgomery County in Maryland., and of course. 

Cathy has an excellent track record getting short sales approved and closed. Cathy can also facilitate buying and selling real estate anywhere in the world. 

Cathy is a VHDA Certified Trainer and she has taught classes on buying short sales, HUD homes, and foreclosures and social media marketing classes through Fairfax County Public Schools Adult and Continuing Education Program. 

Cathy is a retired Army Reserve Major and an accomplished singer with a rock band. She resides in Springfield, VA with her dog and cat.

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Comments (12)

Anonymous
Karen I.

Thanks so much for posting this. I've been looking high and low online for any information on the Springfield Mall renovations, and this is the only current thing I've found so far.

 

I guess my biggest question is, why has it taken "several years" to get the approval to renovate the mall? In the time it's taken, the mall has become practically useless. Even my teenage daughter has no interest in going there--and when a teenager turns up her nose at going to the mall, you know it must be pretty bad.

 

It feels like the mall is in a "holding pattern" till the plans are approved and that nothing will be done to attract new tenants or replace those who leave in the meantime. This ends up being worse in the short haul than if the mall had not been sold at all. It wouldn't be so bad if the "approval process" hadn't dragged on for several years.

 

I live 5 minutes from the mall, but when I need to shop, I often end up driving to Fair Oaks. Even with the high price of gas. What a shame that that's necessary.

 

Do you think that construction is really likely to begin in 2009-2010? If so, which year?

Jul 18, 2008 10:45 AM
#1
Anonymous
Cathy

Hi Karen,

I'd be surprised if it didn't start at least by 2011-2012. I would imagine that Vornado would want to take advantage of the new employees coming into Ft. Belvoir.

Jul 19, 2008 06:39 AM
#2
Anonymous
Anonymous

Hi Cathy,

I work in the Fullerton Industrial Park and have heard about a large scale retail center being proposed for this location.  I was curious if you had any further information about this. Thanks.

Aug 20, 2008 12:16 AM
#3
Cathy Baumbusch
RE/MAX Executives - Alexandria, VA
If you want to stand out put on a red dress!

Hi Fullerton area person! I called the Springfield Chamber, and they don't know of any large scale retail going up in that area as of yet. I will try to look further into it.

As far as Springfield Town Center, I did see a rep at the recent Springfield Bridge Walk event, and his answer to me as to when groundbreaking would occur was "ask the County". Well, while not very informative, it was technically an answer. More to follow as I go "ask the County!".  -- Cathy

Sep 04, 2008 02:23 AM
Anonymous
nicole

glad to find some info. i'm so scared this won't actually happen and have so much hope for the area!!

Oct 14, 2008 11:45 AM
#5
Anonymous
dman

I wanted to find out the status of town center construction. But www.springfieldtowncenter.com   is under construction. O well.

Mar 26, 2010 01:42 AM
#6
Cathy Baumbusch
RE/MAX Executives - Alexandria, VA
If you want to stand out put on a red dress!
Jun 09, 2010 11:42 AM
Anonymous
Jake

The www.springfieldtowncenter.com site used to be up and running but ever since the company that bought the mall defaulted on their loan they took down their site. I think under construction is a better way of them saying we're broke and this project is canceled. Looks like Springfield Mall won't get any change until the economy picks up which will likely take half a decade. There are only a few real businesses there so once those default I imagine another company will buy the property for a good price and maybe do something with it. Either scenario, the mall is going to remain one of the most run down and desolate shopping malls outside of New Jersey for sometime.

Jul 18, 2010 12:35 PM
#8
Anonymous
Jake

Some more info:

Vornado Realty has defaulted on its loan for the Springfield Mall in Virginia, Citybizlist reported.

The Washington Business Journal reported Dec. 4 that the loan was placed with a special servicer for "imminent default."

At the time, the company said it was in talks with the lender to restructure the $160 million loan, which is comprised of two $80 million loans.

New York-based Trepp, a commercial mortgage information and analysis firm, said at the time that the property was 67 percent occupied and had a debt service coverage ratio of .26 as of June 30, 2009, but that the loans were current as of Dec. 1. A DSCR of less than 1 means negative cash flow.

Vornado spent $36 million to enter an option agreement to buy the mall from an undisclosed owner in 2005. The Mall's mortgage was $181 million at the time and will be $149 million when it matures in 2013.

The developer was (keyword WAS) going to redevelop the 80-acre site, adding 175,000 square feet of new retail space, 1.1 million square feet of new office space and a 225-room hotel.


Jul 18, 2010 12:40 PM
#9
Cathy Baumbusch
RE/MAX Executives - Alexandria, VA
If you want to stand out put on a red dress!

Great, that's wonderful. Thanks for the info.

Sep 30, 2010 04:15 PM
Anonymous
Brian

Redevelopment of the Springfield Mall is not happening.  The company stopped paying on the loan, so the mall was put up for sale by bid, but no new owner was announced. 

http://en.wikipedia.org/wiki/Springfield_Mall_(Virginia)

 

Nov 16, 2010 07:46 AM
#11
Anonymous
Anonymous
Update 01-22-11 Good news everyone! I found this article at fairfax times http://www.fairfaxtimes.com/cms/story.php?id=2866 I hope to see u all in springfield town center soon, cant wait
Jan 23, 2011 09:18 AM
#12