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Mosaic District

Fairfax, Virginia

The former movie theater and surface parking lot located at the Dunn Loring Metro Station was redeveloped into a mixed-use, transit-oriented development. The project was redeveloped with urban levels of density to create a vibrant city center within the county. The development consists of 1,000 apartments, 112 townhouse units, 75,750 sf of office space, 505,000 sf of retail space, 300 hotel keys, and parking facilities necessary to service the development. The Mosaic District Community Development Authority, which was created by Fairfax County, issued $65,650,000 of bonds to fund construction of public roads and streetscape, parks and open spaces, stormwater system improvements and other utility infrastructure, improvements to a middle school and parking facilities for the project. The bonds are secured primarily by real property tax increment revenues with additional security provided by a backup special assessment to ensure sufficient revenues to repay the bonds.  Fairfax County has no liability for the repayment of the bonds other than the pledge of real property tax increment revenues.