Leesburg Redevelopment Opportunity

Highlights:

• Redevelopment Opportunity in Prime Location – 0.55-acre site in Downtown Leesburg, approved for a four-story, 22-unit mixed-use development with ground-floor retail in a highly walkable historic district.
• Strong Market Demand & Demographics – Leesburg’s low housing inventory, rising home values, and affluent population ($188K avg. HH income within 3 miles) create high absorption potential for luxury multifamily housing.
• Strategic Unit Mix & Premium Design – Project features one-, two-, and three-bedroom residences with high-end finishes, open-concept layouts, private balconies, and structured parking, catering to professionals and downsizers.
• Value-Added Retail Component – Ground-floor commercial space enhances long-term investment value and aligns with Leesburg’s demand for boutique retail and neighborhood services in mixed-use environments.
• Turnkey Development Opportunity – Entitlement process is well underway, requiring only Board of Architectural Review (BAR) approval. Minimal competing inventory, making this an ideal acquisition for developers or investors looking for a high-yield project.

Description:

Premier Redevelopment Opportunity | 208-212 Church St SE, Leesburg, VA 20175
Mixed-Use Development | 22-Unit Multifamily & Retail | Historic Downtown Leesburg

Serafin Real Estate is pleased to present an exceptional redevelopment opportunity in the heart of Downtown Leesburg. This 0.55-acre site, currently improved with three buildings totaling 14,000 SF, is fully entitled for a four-story, 22-unit mixed-use development with ground-floor retail. Located in Leesburg’s sought-after historic district, this project offers developers a rare chance to capitalize on strong market demand for luxury multifamily housing in a high-growth submarket.

Investment Highlights
Prime Downtown Leesburg Location – A highly walkable setting steps from restaurants, retail, parks, and cultural attractions, ensuring strong rental and resale demand.
Entitled Development Site – The project has an active Minor Special Exception (TLSE-2021-0003) under review and will require Board of Architectural Review (BAR) approval.
High-Demand Product – Plans feature 22 upscale residential units catering to professionals and downsizing buyers looking for maintenance-free, amenity-rich living.
Ground-Floor Commercial Component – Enhancing long-term value, the project includes prime retail space ideal for boutique shops or neighborhood services.
Strong Market Fundamentals – Leesburg’s low housing inventory, rising property values, and affluent demographics create an ideal investment environment.
Comparable Sales & Market Premiums – Nearby new construction condominiums have achieved an average of $550+/SF, with brand-new product commanding a 10% premium.

Development Overview
Zoning: B-1 (Downtown Business District)
Lot Size: 0.55 Acres
Proposed Building: 4 Stories | 22 Residential Units | Ground-Floor Retail
Unit Mix: 1-, 2-, and 3-Bedroom Residences
Parking: Structured Parking with Dedicated Resident & Retail Spaces
Sustainable & Modern Design: Energy-efficient systems and smart home integrations

Why Invest in This Development?
Leesburg’s population growth and increasing median household income create long-term demand for high-end multifamily housing.
Luxury mixed-use developments in historic districts have proven to yield higher price-per-square-foot sales and faster absorption rates.
Minimal competing inventory ensures a competitive advantage for early investors and developers who bring the project to market.

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.

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