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// May 28, 2015//
The Town of Herndon is buying 1.67 acres in its downtown for $3.5 million.
The property would be combined with three acres already owned by the town, creating nearly five acres available for private development.
Mayor Lisa C. Merkel and Ronald K. Ashwell of Ashwell LLC, the property’s owner, signed a purchase contract on Wednesday.
After conducting an environmental assessment, the town expects to close on the deal within 120 days. The property will be rezoned in conformity with the adjacent town-owned land, which permits mixed-use commercial and residential development.
The town expects to solicit proposals for the site from developers by the end of the year.
Herndon has invested nearly $5 million in placing utilities underground and is completing streetscape upgrades throughout the downtown area.
Development already under way includes construction of 17 single-family homes at Center and Vine streets, and plans for mixed-use development (townhomes, condominiums, and retail space) at the corner of Elden and Monroe streets.
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