When a lender puts $299.1 million behind three office towers and every floor is leased, I pay attention. It’s not just a commercial real estate story. It tells you whether the neighborhood around the Wiehle-Reston East Metro station is somewhere people will keep wanting to be, and if you’re thinking about living near Wiehle Metro, that matters.
Here is what happened. Comstock closed a $299.1 million refinancing on 1900, 1902, and 1906 Reston Metro Plaza, the first three office towers at Reston Station. According to REBusinessOnline, Bank of America led the deal, and the money paid off a $292.9 million Blackstone loan. The towers were fully leased at closing, with Google, ICF, CARFAX, FM and Amentum among the tenants. Office space is a tough category right now, so a full building and a big refinancing from a major bank is a real vote of confidence.
Why a homeowner or buyer should care
I’m not going to tell you an office refinancing moves your home value next month. It doesn’t work that way. But the people who work in those towers are the same people who keep the restaurants busy, the Metro ridership steady, and the retail around Reston Station Boulevard worth opening. A neighborhood built around transit works best when there are people there on a Tuesday morning, not just on weekends. Full towers help keep it that way.
That is the difference between a place that was planned to be walkable and a place that actually feels walkable. Reston Station is a 90-acre mixed-use district wrapped around the station, and right now it is doing what it was designed to do.
What living near Wiehle Metro looks like right now
The housing around the station is newer than most of Reston, and it comes in a few different forms.
If you want to be as close to the train as possible, Union Towns at Reston Station offers elevator townhomes with rooftop terraces and two-car garages. The Lofts at Reston Station, just north of the station, is a small community of 32 apartments and 12 loft townhomes. Both are a short walk from the platform. A little farther out, Sunset Station is turning the old Fannie Mae campus on American Dream Way into 150 luxury townhomes about half a mile from the station, with full completion expected around the end of this year. A proposal for 158 more homes on Samuel Morse Drive has also been moving through Fairfax County review.
So the supply picture is changing. If you’ve been waiting for more walkable, Metro-adjacent options in Reston, more is coming than there has been in years.
What the market is doing
The Bright MLS numbers I published in August showed Reston’s 12-month median sold price at $620,000 across 1,067 closed sales. Homes had a median of 8 days on market and sold at about 100 percent of list price. In plain English, well-priced homes in Reston are still moving fast and are not sitting around waiting for buyers. I would expect newer product near Metro to run above that median, since you are paying for the location and the newer construction, so look at the specific building and not just the Reston average.
If you are weighing a townhome near the station against an older condo or townhouse deeper in Reston, here is how I’d think about it. The newer homes cost more per square foot, but you may spend less on repairs, and you can often walk to dinner and the train. The older homes give you more space for the money and often more of the lakes, trails, and pools Reston is known for. Reston Association membership comes with the homes at the Lofts, so you are not giving up that side of the community either.
Commuting is the other piece. The Silver Line no longer ends at Wiehle, and Dulles Airport is roughly a 16-minute drive away. If someone in your house travels a lot or works downtown a few days a week, that combination is hard to beat anywhere else in Fairfax County.
The bottom line
A refinancing like this will not change what you pay for a home. What it does tell you is that the area around Wiehle-Reston East has staying power, with employers, lenders, and builders all committing to it at the same time. If living near Wiehle Metro has been on your list, this is a good week to take that list a little more seriously.
If you have questions about anything here, I’m always just a call or text away. 202-409-7513.
About LeAnne Anies & The Fox Homes Team
LeAnne Anies is CEO of LeAnne + Company and part of the Fox Homes Team at Samson Properties, serving Herndon, Reston, Ashburn, Warrenton, and the surrounding Northern Virginia communities. She is an NVAR Platinum Top Producer and Washingtonian Top Agent, with 411+ homes sold and more than $231M in lifetime sales volume. The Fox Homes Team is the most-reviewed real estate team in DC, Maryland, and Virginia, with 2,155+ five-star Google reviews. LeAnne has lived in Herndon since 2002 and is a proud Navy spouse.
