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Foulger-Pratt plans $400M mixed-use development in Fairfax County, Va.

Foulger-Pratt Cos. LLC is planning a 1.5 million-square-foot mixed-use development in Reston in Fairfax County, Va., with the total project expected to be worth $400 million at build-out, the Washington Business Journal reported, citing Michael Abrams, the company's senior vice president of acquisitions.

The project would feature up to 907 units, including apartments, condominiums and townhomes, alongside an assisted living facility, a 308,000-square-foot office building and ground-level retail space, the publication said, citing plans submitted to Fairfax County.

The diversified real estate company is is under contract with multiple trade associations to buy eight parcels totaling 24 acres along Association Drive for an undisclosed price and is seeking rezoning approvals for the sites, the publication added, citing Abrams. Construction is expected to begin after the transaction closes following approval by the county's board of supervisors by spring 2019, according to the report.