Chantilly Crushed Stone, Inc. retained RKG Associates to complete a fiscal impact analysis of the proposed repositioning of an approximate 336-acre working rock quarry into a mixed-use, transit-oriented development. The project, to be called "Waterside," would result in approximately 2.4 million square feet (SF) of office space, 370,000 SF of office/flex space; 461,500 SF of retail uses, 325,000 SF of civic space, two hotels, and approximately 2,500 residential units. 

 

RKG’s primary responsibility was to assess the net costs and benefits to Loudoun County that would be associated with the redevelopment. The analysis provides the costs and benefits of three scenarios: [1] leaving the property as it is was with no additional development; [2] developing the property to the maximum extent under existing zoning regulations; and [3] developed as proposed under the initial Waterside Development concept.  The model revealed that the Waterside Development concept would yield a positive fiscal impact to the County, compared to leaving the quarry operations ‘as-is’ or retaining the existing zoning.  The project was given a green light to move forward.

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Render Credit:

Christopher Consultants