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Residents of Reston’s Crescent apartments wary as redevelopment process starts

When Fairfax County spent $49.5 million to buy the Crescent apartment complex near Lake Anne in Reston, in 2006, it was with the stated goal of preserving affordable housing in the county as real estate values continued their upward climb. So it came as a surprise to the residents when they learned that Fairfax was already looking to sell or lease the property for redevelopment, as part of a bigger plan to revitalize the Lake Anne area. The county’s plan is to replace the 181 apartments in the 50-year-old, three-story buildings with up to 935 apartments overlooking the lake and close to shopping and a new Metro station.

Publication Date: 
Monday, June 24, 2013
Source: 
Washington Post
News Media Category: 
Press Release: