A massive, mixed-use new progression at a casino you once imagined could soon be on its way to Tysons, Virginia.
CBRE (CBRE) markets a 14-acre site, located at 2000-2500 Chain Bridge Road, adjacent to the Tysons Greensboro Metro Station, divided into 3 separate parcels. Bisnow is the first to report the news.
The assets belong to an entity controlled by the Caldow family, according to Fairfax County records. It is currently home to the Koons car dealership, which was established in 1975, its lease expires this year.
The Caldows intend to expand about 2 million square feet of residential, work and dining area at the site, adding a 108,000-square-foot Home Depot and a 28,000-square-foot Home Depot Garden Center, according to a marketing brochure for the site. The Caldows also hope to sell 2. 3 acres adjacent to the subway station and negotiate a floor lease for the remaining 7. 1 acres. Real estate records show that the 7. 1-acre portion at 2000 Chain Bridge Road was sold to Home Depot for $30 million in January 2021.
Although the assets are zoned for hotels, retail and offices, the owners plan to work with their new partners to rezone them to a PTC, or Planned Tysons Corner, designation that would also allow for residential uses and higher density, according to CBRE’s directory. for the site.
Representatives for CBRE did not respond to requests for comment. Caldows simply cannot be reached for comment.
The owners have benefited from the assets since at least 2019. Cushman
Comstock Holding Companies, founded in Reston, Virginia, submitted a site-specific plan to Fairfax County in 2022 to build a casino at Tysons, with 2000-2500 Chain Bridge Road being a possible location. The assets are near the intersection of Chain Bridge Road and Leesburg Pike, also known as Route 123 and Route 7.
The proposal for the casino didn’t make the cut, even though the Virginia State Senate brought the casino’s plans to life earlier this year when its General Law and Technology Committee passed a bill that paved the way for the development of Tysons Corner. However, hopes were dashed in February, at least for now, when the state Senate Appropriations Committee voted 13-2 against a bill that would have allowed Fairfax County to hold a referendum on building the casino.
Nick Trombola can be reached at ntrombola@commercialobserver. com.
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