Business & Tech
Flint Hill Office Building Eyed For Townhome Redevelopment: Report
Arlington-based Network Realty Partners wants to replace a Jermantown Road office building with 139 residential units, according to reports.
FAIRFAX, VA — An affiliate of Arlington-based developer Network Realty Partners filed a rezoning application with Fairfax County on May 2 to demolish the eight-story office building and surface parking lot at 3201 Jermantown Road and replace them with 139 residential units, according to the Washington Business Journal.
In 2022, Network Realty Partners paid $19.75 million for the property, which is part of the larger Flint Hill office park, according to WBJ's reporting. The new homes would “continue expanding the mixed-use vision of the Flint Hill Suburban Center," the developer wrote in its filing.
“As has been the situation with many suburban, non-transit-oriented office parks, the market for this type of space has continually declined, predating the pandemic and the current distress in the financial markets," WBJ reported from the filing.
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