Archive for the ‘News’ Category

Business Park Planned Near Fort Belvoir

Corporate Office Properties Trust (COPT), Columbia, Md., has announced plans to develop a new business park in Springfield, Va., according to the Washington Business Journal. Nearly 1 million square feet of new construction is planned. COPT hopes the project will benefit from the Base Realignment and Closure plan, which should send 12,900 military workers and defense contractors to the nearby Fort

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Montgomery County Approves “Science City” Plan

On May 4, the Montgomery County Council approved a scaled-down master plan for its “Science City” in Gaithersburg, Md., according to the Washington Business Journal. The plan, which originally was 20 million square feet, was trimmed to 17.5 million square feet. The area currently is approved for 13 million square feet. The project will be approached in multiple stages, starting with

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Jobless Rates Drop in D.C., Maryland and Virginia

Unemployment rates fell in Washington, D.C., Maryland and Virginia in April, marking the first regionwide decline since the recession began, according to The Washington Post. The district’s jobless rate fell from 11.5 percent to 11 percent; Maryland’s jobless rate fell from 7.7 percent to 7.5 percent; and Virginia’s jobless rate fell from 7.3 percent to 7.2 percent. Economists say these declines

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Baileys Crossroads Plan Nears Approval

Fairfax County officials say a preferred land-use concept regarding the development plan for Baileys Crossroads in Fairfax County, Va., could be ready for incorporation this summer, according to the Washington Business Journal. Tentative development plans include 1.9 million square feet of Class A office space; 1.1 million square feet of retail space; 4,184 residential units—mostly townhouses, apartments and condominiums; at least

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