August 05, 2011

SunCal Acquires Stalled Mixed-Use Development Harbor Station

By Savannah Duncan
REBusinessOnline.com

155- SunCal Acquires Stalled Mixed-Use Development Harbor Station PRINCE WILLIAM COUNTY, VA. – Irvine, Calif.-based SunCal Cos. has acquired the 1,920-acre Harbor Station, a master-planned community located along the Potomac River in Prince Williams County. SunCal purchased the parcel as a bank-owned property for an undisclosed price.

The development, which has been idle for more than 3 years, has been approved for up to 4,000 residential units and 3.7 million square feet of commercial uses. Additionally, the 18-hole Potomac Harbor Golf Course, a Jack Nicklaus Signature Golf Course, is slated for construction on the site, and a Virginia Rail Express commuter rail station has been proposed for the northeast portion of the site. The train will provide access to Washington, D.C. and other major commerce centers.

“We’re very excited to be involved with this special property that is located in a spectacular waterfront setting and is planned to offer a mix of residential, commercial and recreational uses,” Casey Tischer, vice president of land acquisitions for SunCal, said in a statement. “We understand the importance of Harbor Station as a destination community and we’re looking forward to working with the county and area residents as we develop the site.”

Joe Aguirre with SunCal Public Affairs said, “Being that it is so soon after we closed this transaction just a few days ago, it is too early to establish or estimate development timelines.”

Extensive grading and roadway infrastructure was completed prior to work halting on the site.

SunCal has been actively pursuing property acquisitions throughout the country. In recent months, it has acquired various developments in Chicago, California and Las Vegas.

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