Townhouse Community to Open Near Vienna Metro

Reston-based homebuilder NVR Inc. will develop a long-saught after lot near Nutley Street and the Vienna/Fairfax GMU Metrorail station into a 141-unit luxury townhouse community, the Washington Business Journal reported Monday.

The site, located at 8301 Lee Highway, is just West of Nutley Street and just south of the Metro station, the Business Journal reported.

NVR reportedly partnered with private developer Timber Ridge LLC in the purchase of the land. That purchase cost $43 million, the equivalent to $2.6 million per acre, the Business Journal confirmed.

A spokesman for Fraser Forbes Real Estate Services, the group that represented NVR and Timber Ridge in purchasing the lot, told the Business Journal the NVR bid won because it was able to offer the best plan to maximize the value of the property.

Development of the townhouses is reportedly expected to begin early in 2016, and homes will be priced in the high six-figure to low seven-figure range.

To see the Washington Business Journal’s full story click here.