Reston's Golf Course Has Exploded in Value: Reports

RESTON, VA — It's no secret that developers want Reston National Golf Course, and they want it bad, despite the objections of the Reston community and Fairfax County.

But what you might not realize is just how much the property has increased in value in a relatively short period of time.

A recent report from GlobeSt.com suggests that the 168-acre golf course currently owned by Northwestern Mutual could sell for more than $25 million.

If true, that would be a five-fold increase in value for the property, which was purchased in 2005 by Northwestern for just $5 million, according to the Washington Post.

It's an eye-popping figure that shows just how hot property continues to be in the Reston area. And it highlights the growing conflict between Reston residents and the out-of-town developers looking to swoop in on a prime investment opportunity.

It all started in early 2015 when Northwestern Mutual pushed Fairfax County officials to build homes on the golf course property, but residents who still value it as one of the last vestiges of open space in the increasingly cluttered Reston landscape mounted a fierce opposition to the proposal. Finally, Northwestern gave up the legal battle around this time a year ago.

But it appears the allure of the golf course property is just too much for developers to bear. Investment advisory firm ARA Newmark confirmed in an email to Patch last month that the golf course is being put up for an "as-is" sale. Apparently, developers don't seem too put off by Northwestern's failed attempt to develop it.

Catherine Hudgins, Reston's representative on the Fairfax County Board of Supervisors, issued a warning on Monday to would-be developers, noting that any purchaser faces many legal hurdles if they want to redevelop the property. But certainly developers must be aware of the battle they face, and the fact that it hasn't dampened enthusiasm for the property says a lot about how concerned they are -- or aren't.

It raises the question of just how many times Reston residents can beat back attempts to scoop up the golf course and turn it into a new housing complex of some sort. Clearly, developers think they'll only be able to hold out for so long.

ABOVE: 48 members of Rescue Reston spell out "NO" in front of Northwestern Mutual's offices in 2015.Photo credit Jim Kirby