This month marks the two-year anniversary since the Peterson Cos. landed Cinépolis, a high-end multiplex, for its planned 28-acre Avonlea project in Loudoun County.
The $70 million Avonlea, a retail-dominated center near the intersection of Route 50 and the Loudoun County Parkway, was scheduled to break ground in late 2015. And while site work did get underway, it has stalled.
Loudoun County Supervisor Matt Letourneau, R-Dulles, explains why in his latest constituent newsletter, which came to our inbox on Friday.
“Site worked stopped due to issues with the soil itself,” Letourneau wrote. “Peterson has now figured out a path forward to resolve that issue. At this point, they are still working to secure other anchor tenants which they need in order to begin vertical construction. They need to know what their tenants wishes are in terms of square footage and location within the development before they build.”
The supervisor goes on to say that the “major downturn in the retail sector”…Read the full story from the Washington Business Journal.
The post One is not enough: Peterson’s Avonlea stalls as the developer searches for more tenants appeared first on WTOP.