This is a copy of a letter sent to City Council and the City Manager regarding concerns with the new mixed use development plan by Insight for Broad & Washington Streets. ========================================================================================= Mayor David Tarter City Manager Wyatt Shields City Hall, 300 Park Avenue Falls Church, VA 22046 February 4, 2020   Dear Mayor Tarter and City Manager Shields,  Please find below the comments of several concerned citizens regarding the new mixed-use project proposed for Broad and Washington Streets. Summary:  The latest mixed-use proposal at Broad and Washington does not meet the commercial standard of the 2018 project and should not be approved in itsRead More →

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The Fresh Market Grocery Chain was acquired by Apollo Global Management in March 2016 and they immediately suspended all present construction projects; including it’s planned store in Tinner Hill within the city of Falls Church. Lincoln Properties, the owner of the Tinner Hill project, is aggressively pursuing other high end grocery stores to fill the space.Read More →

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 It is well established by now, after many unsatisfactory design iterations and citizen opposition, that Mason Row is the wrong development for Broad and West – too big and massive, architecturally undistinguished, traffic nightmare, killer of sunlight and hugely intrusive on the neighboring residential area. But wait!  There’s more!  It is also a potential financial windfall for the developer.  Our inept negotiators have bargained for a deal that creates a movie ticket tax to be paid 100% to the developer for 15 years and thereafter only 10% to our city and the remaining 90% to the developer for another lengthy period of time.  Read theRead More →

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The importance and limitations of models are not well understood in general and certainly financial models in particular. While a lot of time may have been spent discussing these projects they are not “well vetted”. What is not well understood is how “modeling errors” can cause widespread devastating and brutal consequences. Background: One of the major causes of the sub-prime mortgage crisis was one modeling assumption. I will spare the reader the technical details. What is critical to understand that at the early stages, when sub-prime loans were first being “bundled” the model actually worked. It was possible to mix sub prime loans with regularRead More →

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by Lisa Varouxis As you are reviewing the most recent submission from Spectrum Development, LLC (and any future submissions for other developments), please ask yourself these questions, using the existing Mixed Use Developments (MUDs) as your model:  What is the occupancy percentage of the residential units (both condominium and rental) at the 1 year, 2 year and 5 year anniversaries of the completion of the development? What percentage of the retail/commercial space is occupied after 1 year?  After 2 years?  After 5 years?  (The Broadway has several storefronts vacant, and has for several years.) Are these developments attracting the desired demographics (millennials and retirees) orRead More →

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By Mark Kaye, JD/MBA New mixed use developments (MUDs) and large apartments drive 52% of growth in Schools Schools going from small and unique to super-sized Pro-developer school board candidates downplay issue with erroneous statistics Current MUD path is an unsustainable burden on homeowners Our small and unique FCC school system continues to mushroom in size – driven by new mixed use developments (MUDs) and large apartment buildings. In 2002 our schools had 1800 kids, now we are at 2515 with more expected to join during the 2015-16 year. The character of our schools is fundamentally changing from small to large. The Little City isRead More →

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