Mixed-Use Housing Project Moves Forward with Council's OK

FALLS CHURCH, VA-The City of Falls Church City Council has given its approval for development of the mixed-use residential property known as Spectrum to move forward. Real estate services firm Akridge and developer Waterford Development are behind the multi-million endeavor, which will result in a property featuring condominium housing and office space, as well as retail space. A similar project going up on Broad Street–an 84-unit luxury condominium property with 18,000 sf of retail developed by Nova Habitat–carries a development price tag of approximately $30 million.

Formerly dubbed the Pavilion, Spectrum will occupy an approximately 2.5-acre site that had been home to an office building and a surface parking lot. The city council signed off on a zoning change that will allow residences to be part of the development, which will carry the address of 444 W. Broad St. When all is said and done, presumably in the spring of 2005, the class A property will offer 191 residential condominiums, eight of which will be set aside as below-market rate units, 30,000 sf of class A condominium office space, and 30,000 sf of premiere retail space. Spectrum will also have a subterranean parking facility capable of accommodating up to 600 vehicles.