REBusinessOnline

Novais Partners, Hanover Co. Plan 4.4 MSF Mixed-Use Project in Metro D.C.

Plans have been announced for Rivana at Innovation Station, a 4.4 million-square-foot mixed-use development located 30 miles outside Washington, D.C., in Ashburn.

ASHBURN, VA. — A joint venture between Novais Partners and the Hanover Co. has announced plans for Rivana at Innovation Station, a 4.4 million-square-foot mixed-use development located 30 miles outside Washington, D.C., in Ashburn. 

The 103-acre, transit-oriented project will be developed adjacent to Loudoun County’s extension of the Metro Silver Line, one stop from Washington-Dulles International Airport. Current plans for the project include 2,000 multifamily units; 1.8 million square feet of Class A office space; a 185,000-square-foot retail village; a 265-room boutique hotel; and a network of green and public spaces, including an 11-acre park. 

Rivana Village will feature a walkable network of retail and creative office space

At the center of the project will be Rivana Village, a walkable network of retail and creative office space inspired by the communal villages that dot Virginia’s landscape. Tenants for this portion of the project will include creative, independently-owned restaurants and local retailers. 

The development’s office space will include hotel-quality amenities as well as post-COVID-era design and engineering, with advanced filtration systems, upgraded air filters and enhanced cleaning protocols. Each office building is targeting LEED certification.

The project’s development team plans to submit a land use application next week for consideration by the Loudoun County Board of Supervisors. Pending legislative approval, Novais expects to break ground in early 2022. Phase 1A of development — set to open in 2024 — will include 250,000 square feet of office space.

Novais Partners is a national commercial real estate owner and developer. The company is owned by four real estate development and investment firms — Origami Capital Partners, Timberline Real Estate Partners, Open Realty Advisors and Rebees.

Houston, Texas-based Hanover Co. is a private real estate company focused on the acquisition, development and management of high-quality multifamily properties across the U.S. The company currently has a development pipeline of 62,000 units totaling $15 billion.

Katie Sloan

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

Webinars on Demand


Conferences


Subscribe to the newsletter

Read the Digital Editions

Texas Affordable Housing Business

Southeast Affordable Housing Business

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties  

2021 Finance Insight Video Interviews