The Peterson Companies have received approval to redevelop a former office site in Fair Lakes into a project featuring up to 380 new apartments, signaling an increase in residential development in the area. Fairfax County lawmakers unanimously approved the rezoning of the 4.4-acre parcel at 12801 Fair Lakes Parkway, previously occupied by the 1980s-era Parkway Woods office building, during their Tuesday meeting.
“This marks the first major residential project in Fair Lakes in several years and serves as an excellent example of a development that respects Fair Lakes’ original design intent while driving demand for retail, restaurant, and office spaces in the park,” stated Andrew Painter of Walsh Colucci Lubeley & Walsh PC, the project’s land use attorney.
County supervisors approved two development options: one comprising two separate buildings developed in phases—seven and 12 stories, totaling up to 380 units within 400,000 square feet and including 499 mostly below-grade parking spaces; the other being a single six-story building with up to 278 units across approximately 343,000 square feet, featuring 366 spaces of above-ground parking.
Peterson anticipates breaking ground in the first half of 2026, following a comprehensive plan amendment approved by the Board of Supervisors that facilitated the rezoning. Under both development options, the company may transfer around 55,000 square feet of allowable density from the now-demolished office building to future projects in Fair Lakes. If they opt for the smaller development, an additional 57,000 square feet could be transferred, totaling about 111,000 square feet.
As seen across the region, older office buildings like Parkway Woods struggle to compete in the current market, where tenants often prefer newer buildings with modern amenities and walkable mixed-use environments. This has led to many such buildings finding new life through residential redevelopment.
Nearby, Grubb Properties Inc. plans to construct a 400-unit multifamily building with a parking garage on a surface parking lot at the Argon Plaza office campus. As of September, this project is currently on hold while the company actively seeks financing options to move forward.
