Cityline signs three apartment developers
Since DLJ Real Estate Capital Partners acquired the largest portfolio in Tysons (outlined in green), it has sold some office buildings, put others up for sale as development sites, and retained many other sites for its own development plans through its company, Cityline Partners. View a larger version of the map here. (Image courtesy of the Washington Post)
By Jonathan O'Connell
January 8, 2012
Washington Post
"The largest landowner in Tysons Corner has inked three deals for hundreds of new apartments with major development partners in recent months, signaling continued and possibly growing interest in the suburban city by housing builders from around the country.
Cityline Partners, a crew of veteran Tysons developers, is managing the redevelopment of the Westgate and Westpark office parks for DLJ Real Estate Capital Partners, a Credit Suisse company that bought the property in 2010. Cityline recently finalized contracts for new apartment developments with three builders that could mean hundreds of new units for the area in coming years if they are approved by the county.
The rush to build apartments in Tysons, where four Metro stations are set to open in late 2013 or early 2014, could pave the way for the area to add 80,000 residents by 2050, a goal adopted by Faifax County in 2010. County officials anticipate that high-density development near the stations will help the area evolve from a traffic-strangled mess to a series of walkable urban neighborhoods..."
http://www.washingtonpost.com/busine...sjP_story.html