Business
Comstock and Marriott International Announce Plans to Develop Virginia’s first JW Marriott at Reston Station
Project also includes development of 90 JW Marriott Residences RESTON, Va., Feb. 11, 2021 (GLOBE NEWSWIRE) -- Comstock Holdings Companies, Inc. (Nasdaq: CHCI
About this update from Comstock Holding Companies, Inc.
[{"type":"text","content":"Project also includes development of 90 JW Marriott Residences\nRESTON, Va., Feb. 11, 2021 (GLOBE NEWSWIRE) -- Comstock Holdings Companies, Inc. (Nasdaq: CHCI or Comstock) announced that one of its managed companies, CRS Hotel, LC has entered into a Franchise Agreement with Marriott International (Nasdaq: MAR) providing for the development and operation of Marriott’s luxury brand hotel, a JW Marriott in Reston, Virginia. The approximately $250 million project will be the centerpiece of the next phase of Comstock’s 60+ acre mixed-use and transit-oriented Reston Station development. The anticipated 26-story glass and concrete tower will represent a signature component of the Reston Row District at Reston Station and is expected to provide approximately 250 guestrooms and 90 luxury branded residences reflective of JW Marriott’s warm and welcoming approach to luxury and emphasis on holistic wellbeing. JW Marriott - Reston Station will feature a mix of facilities including more than 15,000 square feet of meeting space, two restaurants, and upscale amenities, such as an executive lounge, swimming pool, spa and fitness center, as well as indoor and outdoor social gathering spaces. The JW Marriott Residences Reston, served by a separate residential lobby entrance and located on the upper floors of the JW Marriott tower, will offer dedicated spaces and amenities such as an owner’s lounge, fitness center, outdoor area and dog park. Nunzio Marc DeSantis Architects will serve as the designer for the project. “We are excited to partner with Marriott to bring Virginia’s first JW Marriott to Reston,\" said Chris Clemente, CEO of CHCI. “We look forward to adding this incredible brand to Reston Station and expect that the unrivaled amenities and meeting spaces will attract business and social functions from around the Washington, DC area, while meeting the needs of our corporate office clients, including Google, Rolls Royce of North America, Neustar, ICF Global, and others.” Located at the intersection of Reston Station Blvd and Wiehle Ave, the JW Marriott hotel and residential tower will be included in phase I of the Reston Row District, the 8.4-acre latest addition to the Reston Station development adjacent to Reston’s first Silver Line Station, the Wiehle Reston-East Station. Utility relocations and coordinated demolition of the existing 1970...