
Reston Heights Recognized as Workforce Housing Endorsed Project 03/31/2009 : The JBG Companies Reston Heights Recognized as Workforce Housing Endorsed Project RESTON, Va. (March 31, 2009) -- The JBG Companies, one of the most active investors and developers in the Washington Metro Area, is pleased to announce that the mixed-use development of Reston Heights has been recognized by the Workforce Housing Endorsement Coalition as a Workforce Housing Endorsed Project Proposal. The Workforce Housing Endorsement Coalition endorses development proposals that incorporate workforce housing characteristics, furthering the organization’s mission of encouraging land use, development and housing policies and practices that promote workforce housing to enhance the region’s quality of life and economic strength. “Reston Heights features specific elements that contribute to its designation as an endorsed workforce housing projects including: adopting the same bedroom ratios for the workforce housing residences as the ratios for market-rate residences, effective planning of the integration of future transit stops and substantially increasing the area’s density through good design features and mixed-use principles,” said Janine Cuneo, a Project Director for the Workforce Housing Endorsement Coalition. “We would like to commend The JBG Companies for being early adopters of workforce housing in Fairfax County and we encourage the company to continue its efforts to expand workforce housing options in Fairfax County.” Previously a combination of surface parking lots and low density office space, Reston Heights is quickly emerging as a bold example of a new urban neighborhood. This development will have a tremendous impact on the region as it provides thousands of new jobs as well as the housing needed to support and sustain the lifestyles of residents in the community. “We have to recognize The JBG Companies for their leadership and commitment to Workforce Housing particularly during these tight economic times,” stated Kerrie Wilson, CEO Reston Interfaith. The first phase of Reston Heights, Reston Square is complete and consists of a fully leased 140,000 square foot Class A office building, a 191 room Westin Reston Heights, and the sold out 194 unit Mercer Condominium. Follow on phases of the project will include at least 1.5 million square feet of trophy office space, 350,000 square feet of retail, and 500 new residential units. The entire project is estimated to be completed by 2015. About The JBG Companies Headquartered in Chevy Chase, Maryland, The JBG Companies is an active developer, investor, owner and operator of office, residential, hotel and retail properties with more than $10 billion in assets under management and development. Founded in 1960, JBG has established a reputation as one of the leading real estate companies in the Washington metropolitan area. More information can be found by visiting the company’s Web site: www.JBG.com.

Reston Heights Recognized as Workforce Housing Endorsed Project

03/31/2009 : The JBG Companies
Reston Heights Recognized as Workforce Housing Endorsed Project

RESTON, Va. (March 31, 2009) -- The JBG Companies, one of the most active investors and developers in the Washington Metro Area, is pleased to announce that the mixed-use development of Reston Heights has been recognized by the Workforce Housing Endorsement Coalition as a Workforce Housing Endorsed Project Proposal.

The Workforce Housing Endorsement Coalition endorses development proposals that incorporate workforce housing characteristics, furthering the organization’s mission of encouraging land use, development and housing policies and practices that promote workforce housing to enhance the region’s quality of life and economic strength.

“Reston Heights features specific elements that contribute to its designation as an endorsed workforce housing projects including: adopting the same bedroom ratios for the workforce housing residences as the ratios for market-rate residences, effective planning of the integration of future transit stops and substantially increasing the area’s density through good design features and mixed-use principles,” said Janine Cuneo, a Project Director for the Workforce Housing Endorsement Coalition. “We would like to commend The JBG Companies for being early adopters of workforce housing in Fairfax County and we encourage the company to continue its efforts to expand workforce housing options in Fairfax County.”

Previously a combination of surface parking lots and low density office space, Reston Heights is quickly emerging as a bold example of a new urban neighborhood. This development will have a tremendous impact on the region as it provides thousands of new jobs as well as the housing needed to support and sustain the lifestyles of residents in the community.
“We have to recognize The JBG Companies for their leadership and commitment to Workforce Housing particularly during these tight economic times,” stated Kerrie Wilson, CEO Reston Interfaith.

The first phase of Reston Heights, Reston Square is complete and consists of a fully leased 140,000 square foot Class A office building, a 191 room Westin Reston Heights, and the sold out 194 unit Mercer Condominium. Follow on phases of the project will include at least 1.5 million square feet of trophy office space, 350,000 square feet of retail, and 500 new residential units. The entire project is estimated to be completed by 2015.

About The JBG Companies
Headquartered in Chevy Chase, Maryland, The JBG Companies is an active developer, investor, owner and operator of office, residential, hotel and retail properties with more than $10 billion in assets under management and development. Founded in 1960, JBG has established a reputation as one of the leading real estate companies in the Washington metropolitan area. More information can be found by visiting the company’s Web site: www.JBG.com.