Market study of Fairfax County’s Richmond Highway corridor commences
The Fairfax County Economic Development Authority (FCEDA) selected Washington, D.C.-based Partners in Economic Solutions to conduct a market study on the Richmond Highway corridor in southeastern Fairfax County.
The market study will be used be to review and analyze the potential impact of the existing development pipeline and long-term land use plans for the area, determining the effects of the Embark Richmond Highway initiative and major employment announcements on residential and commercial development. These announcements include Amazon’s HQ2 in the Crystal City area of Arlington and the Virginia Tech Innovation Campus in Alexandria.
The Richmond Highway corridor spans about 10 miles from the Capital Beltway and Fort Belvoir. The study area includes land located within a half-mile of Richmond Highway and North Kings Highway.
“Richmond Highway is one of the most important business corridors in Fairfax County, and this market assessment will help county officials, partners along the corridor, businesses and residents understand what kinds of redevelopment and revitalization opportunities will bring the most benefits for the community,” said Victor Hoskins, president and CEO of the FCEDA. “We are delighted to help the county by managing the funding and managing the study to obtain the needed information to further the vision of the plan.”
Partners for Economic Solutions is an urban economics consulting firm dedicated to fostering sustainable economic vitality and growth in America’s neighborhoods, cities and regions.
“This market study is another example of the great partnership between the county and the FCEDA,” said Deputy County Executive Rachel Flynn. “We rely on them for expertise in economic analysis and market trends and are very grateful that they agreed to fund and manage this study of the Richmond Highway corridor.”
“Both the county and the FCEDA want to ensure that the vision for the corridor, as detailed in the Embark Richmond Highway plan, will be successful,” Flynn added. “Having a solid grasp of the economics of the corridor, present conditions and future potential, is critical in achieving that vision.”
The FCEDA initiated a Request for Proposal (RFP) process to obtain the services of a bidder or bidders on Jan. 31, 2020, and the contract was signed with Partners in Economic Solutions on April 14.
The Fairfax County Economic Development Authority promotes Fairfax County as a business and technology center. The FCEDA offers site location and business development assistance, and connections with county and state government agencies, to help companies locate and expand in Fairfax County. In addition to its headquarters in Tysons, Fairfax County’s largest business district, the FCEDA maintains business investment offices in six important global business centers: Bangalore/Mumbai, Berlin, London, Los Angeles, Seoul and Tel Aviv. Follow the FCEDA on Facebook, Instagram, LinkedIn, Twitter and YouTube.
The FCEDA is a member of the Northern Virginia Economic Development Alliance, which promotes and markets Northern Virginia outside the region and conducts activities and events to build the regional business community. Other members of NOVA EDA are the Alexandria Economic Development Partnership, Arlington County, City of Fairfax, City of Falls Church, Fauquier County, Loudoun County, City of Manassas, City of Manassas Park and the Prince William County Department of Economic Development.
May 8, 2020