WATERFORD DEVELOPMENT ACQUIRES PROPERTY IN HISTORIC DOWNTOWN LEESBURG

Reston, Va. – Waterford Development announced that it has sealed an agreement with longtime Leesburg business owner Michael Firetti to develop three acres of property in the Historic District of Leesburg. Included in the agreement is property located between South King Street and South Church Street as well as the lot at the corner of South Street and Wirth Street.

The properties are generally referred to as the “Riverwalk” due to the location along the Town Branch, the stream that runs through Leesburg’s downtown area, and the W&OD Trail, a recreational trail covering 45 miles in Northern Virginia. Although specific plans for the properties have not been determined, possibilities include residential, retail and office components.

“We want to enhance the downtown area as a pedestrian-friendly environment, where residents can live, shop and work without having to rely on their cars,” said Mr. Jan A. Zachariasse, president of Waterford Development. “It will also be important to respect the historical character of the town through the design and material selections and to support the vision of the town officials and citizens of Leesburg.”

Firetti said, “Working with Waterford has been very rewarding because of their extensive redevelopment experience in similar places, like McLean and Falls Church, and their belief in our original thinking. These sites require sensitive redevelopment considerations, and Waterford has the expertise to make this project a success.”

Waterford Development is a full-service real estate development company headquartered in Reston, Virginia, with an office in Raleigh, North Carolina. Over the past 15 years, Waterford Development has developed unique residential communities, as well as innovative office and retail spaces. Recent award-winning developments include The Broadway in Falls Church and The Palladium in McLean.