3 Key Takeaways from Bisnow’s “Tysons Tidal Wave”

Last month, I joined our EVP, Director at Strategy and Insights, and around 500 other industry leaders in Tysons for the Bisnow event “Tysons Tidal Wave.” Representatives from Foulger-Pratt Development, Lerner, Gensler and more discussed the surge of construction–7.5 million square feet of it over the next 30 months to be exact–that is dominating an area that used to be associated strictly with traffic and shopping.

Here are my top takeaways from a morning jam-packed with news and insights.

Tysons Is Shiny, New and BOOMING!

You may have heard “booming” frequently associated with Tysons lately, but there really is no better word to describe the outburst of innovative high-end projects coming down the pipeline. 30 million SF of mixed-use development is hitting the neighborhood in the coming years, and Tysons is expecting to double in size by 2050.

Tysons is currently the 4^th largest office concentration market on the east coast, behind New York, Boston and D.C., and is the 13^th largest central business development nationwide. Corporations have expressed the appeal of a Tysons mailing address (although the zip code is still technically McLean or Vienna), and as new projects are breaking ground, existing properties are renovating, keeping the commercial inventory in demand. The Silver Line metro makes Tysons more accessible than ever, proving the area as more than D.C.’s suburban stepsister.

Not Just Yo’ Mama’s Mall

The Tysons boom is also a deliberate, carefully planned expansion to become a true destination. During the event, Stephanie Pankiewicz of LandDesign explained to us the importance of placemaking in the new Tysons development, and the need for connected green space.

While commercial office inventory has always been Tysons’ bread and butter, the growth in residential and retail projects has raised the bar in terms of amenities. One of the panelists commented that people these days “don’t tolerate dead space.” As consumers, we inherently expect hyper-connectivity, technology and open engagement spaces. We’ve come to demand this standard across all aspects of life; work, home, play and everything in between. The Boro, a new mixed-use development near Greensboro Station breaking ground this year, embodies this belief.

Highlights among the plans for the high-end residential, office and retail space include a 70,000 SF Whole Foods flagship store and an ICON movie theater. The Foulger-Pratt Tysons Central office project knows that closeness to The Boro’s lifestyle retailers is an amenity for prospective tenants, and marries that accessibility with a cutting-edge design that features multiple terraces and blends indoor and outdoor space. Tysons is laying the groundwork to transform into a neighborhood that residents and visitors truly experience, not just a commuter hub for shopping and work.

Ownership Is Key

As residential projects keep breaking ground in Tysons, the ultimate goal is to create a sense of ownership in the neighborhood, to truly develop a community that residents feel invested in. Aaron Georgelas of Georgelas Group was particularly adamant about this need, continuing to stress the importance of placemaking and the significance of bringing restaurants and retail that consumers want to live by. As new parks and walkable communities continue to emerge, Tysons is aiming to shift its brand to a neighborhood that people can set roots in.