Leesburg Redevelopment Opportunity

Highlights:

• Prime Downtown Leesburg Location – Corner of Church Street and South Street, surrounded by restaurants, retail, and historic charm.
• Residential Redevelopment Concept – Preliminary plan for 24 luxury two-over-two style condominiums across two buildings with 2-car garage parking.
• Town Supportive of Residential Use – The Town of Leesburg is open to residential redevelopment that complements the historic district’s architecture.
• Zoning & Height Parameters – Up to 65 feet permitted; layout designed to align with code requirements for width, depth, and alley access.
• Fully Leased Buildings – Provides ongoing rental income during the site plan approval process, offering immediate cash flow for the buyer/developer.
• Walkable Urban Lifestyle – Steps to Market Street, Tally Ho Theater, local breweries, and cafés — highly attractive to future condo buyers.

Description:

Downtown Leesburg Development Opportunity
Corner of Church Street & South Street | Leesburg, VA

Positioned in the heart of historic downtown Leesburg, this rare redevelopment opportunity offers investors and builders a chance to shape one of Loudoun County’s most desirable urban blocks. Located at the corner of Church Street and South Street, the site is surrounded by boutique retail, award-winning restaurants, and local landmarks — all within walking distance of Market Street.

The concept plan envisions 24 two-over-two style condominiums across two buildings, each featuring 6 townhome-style units with 2-car garage parking accessed via a 20-foot rear alley. With building heights up to 65 feet permitted and dimensions of 24’ x 52’ per unit, the plan balances modern functionality with the architectural integrity required in Leesburg’s historic district.

Adding to the investment appeal, the existing buildings on site are fully leased, allowing a buyer or developer to collect rental income while securing site plan approval. This unique combination of immediate cash flow and long-term redevelopment potential makes the property especially attractive for those seeking a strategic entry into the downtown Leesburg market.

With the Town of Leesburg supportive of residential redevelopment consistent with the area’s character, this site represents a compelling opportunity to deliver high-demand housing within a walkable, amenity-rich environment — blending historic charm with modern urban living.

Downtown Leesburg, Virginia, and the broader Loudoun County present a compelling landscape for development, characterized by robust economic growth, a rapidly expanding population, and significant affluence.

Economic Growth and Affluence
Loudoun County's economy has experienced substantial growth, with its Gross Domestic Product (GDP) reaching $38 billion in 2022, marking a 13% increase from 2018. This economic expansion is complemented by a median household income of $170,463 as of 2022, reflecting an 8.7% rise from the previous year. Such figures underscore the county's status as one of the most affluent regions in the United States.

Population Growth
The population of Loudoun County has been steadily increasing, reaching approximately 420,773 residents in 2022, a 1.74% growth from 2021. Similarly, Leesburg's population has expanded, with estimates indicating a rise to 49,622 in 2024, reflecting a 2.56% increase since the 2020 census. This population surge fuels demand for residential, commercial, and retail developments, presenting ample opportunities for investors and businesses.

Educational Attainment
The region boasts a highly educated populace, with 56.1% of Leesburg residents aged 25 and over holding a bachelor's degree or higher. This educated workforce enhances the area's appeal to businesses seeking skilled professionals.

Development Potential
The combination of economic prosperity, population growth, and a well-educated workforce positions Downtown Leesburg and Loudoun County as prime areas for development. The increasing demand for housing, retail spaces, and commercial facilities offers significant opportunities for developers and investors aiming to capitalize on the region's dynamic growth and affluence.

---

Report Listing This listing was syndicated through:

Documents: