Akridge, Soave JV for $600M Loudoun Plan

WASHINGTON, DC-Local developer Akridge and Detroit-based Soave Enterprise have teamed up for the first time to develop Loudoun Parkway Center, a site located at the interchange of the Dulles Greenway and the Loudoun County Parkway. The $600-million project will encompass 2.4 million sf of office, retail and hotel development at full build-out.

The site is divided into a north parcel, which could hold 800,000 sf of development and a south parcel that can accommodate up to 1.6 million sf. Both parcels can meet the security requirements of the Department of Defense and their contractors–a key office constituency in this part of Northern Virginia.

A spokeswoman for Akridge, which is developing the site through the Akridge Office Fund, tells GlobeSt.com that the project is currently in the design phase. Initial plans call for the development of two office buildings, roughly 150,000 sf each, that will be between four to six stories high.