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Development of Tyson's Corner will be challenging, and will take time
The changes authorized by Fairfax County officials -- which will hopefully transform the area into a vibrant, walkable community -- will likely come about slowly. Developers are understandably cautious in the current economic climate, and needed infrastructure will have to be built along with the new housing, retail, and recreation facilities. The county will have to come up with an estimated $800 million just for the transportation improvements needed to support the plans. Funding issues are likely to preoccupy developers and the board of supervisors for some time. "Everyone's going to need to start looking at funding in more creative ways," said Supervisor Linda Smyth, "What we have to figure out is the right balance between what the private sector pays and what the public sector pays." When it happens, the new development will likely benefit area homeowners. The opportunity to enjoy retail, business, and recreational facilities will draw new residents to the area, positively impacting property values. Read more....
Posted on Monday, June 28, 2010 - 7:07am
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