One Loudoun adds Japanese investor
- October 13, 2010
Home developer Miller and Smith and Japan’s largest homebuilder have created a joint venture to develop One Loudoun, a mixed-use development planned at the intersection of Route 7 and Loudoun County Parkway.
Miller and Smith said the partnership with SEKISUI HOUSE Ltd. will allow construction to begin in spring 2011, starting with the town center and South Village residential areas.
The project recently went into foreclosure, which Miller and Smith, an original investor in the project, was able to retain.
SEKISUI HOUSE has recently been expanding internationally, and also has formed a joint venture on a residential project in Houston.
“We were particularly attracted to the innovative community designs and smart growth features, which we look forward to complementing, drawing from our extensive experience creating communities,” Isami Wada, chairman and CEO of SEKISUI HOUSE said of One Loudoun in a statement.
One Loudoun is planned to include 3 million square feet of office space, up to 700,000-square-feet of upscale retail space, a luxury hotel, movie theater, town center and 937 homes.