HERNDON TOWN COUNCIL APPROVES COMPREHENSIVE AGREEMENT WITH COMSTOCK ON DOWNTOWN REDEVELOPMENT PROJECT
Following its public hearing on October 24, the Herndon Town Council by a vote of 7-0 adopted a resolution to move forward with a Comprehensive Agreement with Comstock Herndon Venture LC, that defines responsibilities of both parties in the redevelopment of 4.675 acres of town-owned land in Herndon’s downtown into a mixed-use project that includes residential and commercial structures, an Arts Center and a parking garage.
The council also approved an ordinance authorizing sale of the town-owned land to Comstock, a condition of the Comprehensive Agreement.
The agreement between the town and Comstock is reflective of Comstock’s proposal, submitted in response to the town’s Request for Proposals (RFP), for a redevelopment project comprised of approximately 281 residential apartments, approximately 17,600 square feet of retail space, an 18,000 square foot Arts Center and an approximately 761-space parking garage.
The agreement outlines the town’s financial commitment to the project and Comstock’s provision to the town of assets included in the project. The agreement does not supersede the town’s regulatory powers; all redevelopment will be subject to the processes dictated by the town code and administered through appropriate bodies such as the Heritage Preservation Review Board.
Following the execution of the agreement, Comstock will begin designing the project. Comstock will then submit to the town a site plan for approval and go before the Heritage Preservation Review Board for design approval. This phase is expected to take approximately one year. As per the agreement, Comstock anticipates beginning construction on the project early in 2019, with completion estimated in 2021.