Reston Association Chooses Firm to Investigate Over-Budget Lake House

RESTON, VA — The Reston Association Board of Directors has chosen a firm to independently review the purchase and renovation of the Lake House, and the association expects to have a report by the end of February.

The board approved StoneTurn Group LLC to conduct the review at a meeting Thursday night. The contract is for $45,000, and the report is due on Feb. 28, according to a statement from the Reston Association.

StoneTurn was one of the original finalists for the Tetra Review Committee (the Tetra property was the former name of the Lake House). The other candidate, Mediaworld Ventures LLC, terminated negotiations with Reston Association earlier this month, the statement notes.

The goal of the review is to "identify areas for process improvement, potential changes to internal controls and/or modification to governance procedures to help ensure situations like the Lake House cost overrun can be avoided in the future," the Reston Association request for proposals document states.

Reston Association was forced to find another $430,000 in the budget for the Lake House last summer as cost overruns became a problem. The Lake House was purchased for $2.6 million in 2015. The association is appointing StoneTurn to understand why the cost overrun happened and how to prevent it in the future.

The Lake House officially opened its doors in the latter half of 2016. It is located at 11450 Baron Cameron Avenue.

Image via Reston Association