In early June 2020, Arlington County will roll out a new virtual Site Plan Review Committee (SPRC) process that should streamline Arlington’s community review process in the short to midterm....more
Beginning May 29, 2020, Northern Virginia entered Phase 1 of Gov. Ralph Northam’s “Forward Virginia Plan.” Phase 1 permits greater use of outdoor spaces, particularly for restaurants and health clubs. Use of those spaces will...more
Demonstrating the resiliency of Virginia’s local governments, Arlington County’s “Plan Lee Highway” study is picking up pace. This study will open opportunities to develop or reposition property within the corridor to add...more
The Virginia General Assembly recently authorized public bodies — including local boards and commissions — to meet electronically during the state of emergency declared by Gov. Ralph Northam in response to COVID-19. This...more
ABC Policy Changes-
Beer/Wine/Mixed Beverage Takeout and Delivery. For the first time in ABC history, ABC adjusted its licensing regulations on March 20 to allow businesses with on-premises licenses (restaurants, eat-in...more
Arlington County, Virginia, has enacted several policies and procedures to keep the county’s planning and zoning operations open and running during the COVID-19 crisis. While the situation continues to evolve, it is clear...more
On April 14, 2020, the Fairfax County Board of Supervisors (BOS) in Virginia held its first virtual meeting, adopted a number of important ordinances and held a full slate of public hearings on land use cases....more
Given the spate of government-imposed business shutdowns designed to slow the spread of COVID-19, many retailers, restaurants, dental practices and other service providers deemed “non-essential” have experienced forced...more
McGuireWoods is closely monitoring how Northern Virginia jurisdictions are adjusting policies and procedures in response to COVID-19. At the time of this writing, Fairfax County is still proceeding with development reviews,...more
On Dec. 17, 2019, the Arlington County Board unanimously approved a set of zoning ordinance amendments designed to increase the supply of senior housing in Arlington, Virginia, through the 4.1 special exception site plan...more
The advent of Opportunity Zones (OZ) offers players in the private finance and real estate communities a new way to enjoy tax incentives while helping economically distressed areas. Recently, the IRS and the Treasury...more
6/28/2019
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
Low Income Housing ,
Low-Income Issues ,
Opportunity Zones ,
Qualified Opportunity Funds ,
Real Estate Development ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Incentives
On April 17, 2019, the Department of Treasury and Internal Revenue Service released another set of proposed regulations on the Opportunity Zone (OZ) tax benefit. Until recently, many investors, funds, business owners and real...more
With the release of the Opportunity Zone proposed regulations, potential investors and funds eagerly awaiting this guidance began moving into the next phase of a plan to inject capital into low-income communities. Department...more
The IRS and Treasury Department recently released proposed regulations providing guidance for investors looking to take advantage of the capital gains deferrals available in the opportunity zone program created under the 2017...more
11/12/2018
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
IRS ,
Opportunity Zones ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Planning ,
U.S. Treasury
On Oct. 19, the IRS and Treasury Department issued proposed regulations and a Revenue Ruling as the first part of its long-anticipated guidance package regarding the Opportunity Zone program. Enacted at the end of last year...more
Fairfax County recently completed the Embark Richmond Highway Comprehensive Plan Amendment for the Richmond Highway Corridor in northern Virginia. The amendment created a substantial amount of new density — much of it...more
Fairfax County recently announced it will accept site-specific Comprehensive Plan Amendments for the northern portion of the County. The deadline for such nominations is Dec. 5, 2017.
This opportunity applies to property...more
The Urban Land Institute has released the results of an in depth analysis of the future of the Westfields Corporate Office Park in western Fairfax County. This analysis was the product of a ULI Technical Assistance Panel...more
On March 14, 2017, the Board of Supervisors approved an amendment to the Tysons PTC Zoning District that eliminated the FAR maximum of 2.5 for certain uses located within a Transit Oriented Development that is up to one...more
On March 14, 2017, the Fairfax County Board of Supervisors approved an update to the Comprehensive Plan for Tysons. Consistent with comments from industry representatives and the Tysons Partnership...more
This is a follow up to our earlier briefing on the proposed revisions to the “Fairfax Forward process”. McGuireWoods’ lawyers have been working closely with County leadership and the land use bar to understand the proposed...more
The Comprehensive Plan is critical to land valuation and redevelopment potential. Fairfax County has recently rolled out a proposed new process related to the procedural mechanisms for proposing site specific amendments to...more
To Fairfax County’s credit, they have collectively recognized the structural shifts that have and are occurring in the commercial office market. In 2016, the County seated a diverse “Workgroup” to study the issue. The...more