Years ago, Tysons had a reputation as the place where you went to the mall or to work. Now, a market study shows it’s evolving into a more balanced live-work community.
Household growth tripled over the past three years compared with the preceding three years, helping Tysons recover from the pandemic, the 166-page Tysons Market Study finds. The population grew by 17 percent between 2015 and 2021 to more than 29,000. And it’s projected Tysons will be home to 43,000 people by 2030.
“Available housing units are projected to grow by over 82 percent in the next 10 years. This is substantially higher than the [Fairfax] county rate of 25 percent,” according to the report, commissioned by the Tysons Community Alliance.
“The extent to which Tysons has truly, dramatically, outpaced growth, not only within our region, but among our national peers, is really striking. … It feels like transformation is happening in Tysons,” says Katie Cristol, CEO of the alliance.
In terms of economic impact, taxes from Tysons add up to $268 million and account for 8 percent of what Fairfax County takes in, yet Tysons sits on 1 percent of the county’s land.
“Tysons is punching above its weight, I guess I would say, when you look at the tax revenue that it brings to the county relative to our relatively small share of the land value,” Cristol says. “There is a great deal that Tysons has to offer in that regard.”
Surveys underway are asking people what they want and need related to transportation, parks, retail, residential, hospitality, and work. Cristol says one overarching idea coming into view is that Tysons “is a community in and of itself. … This is not just a place that you come in to work 9 to 5, but it is a place that you want to stay because your running club meets in the afternoon or there’s jazz on a Friday night or there’s a farmers market that you love. I think those themes of belonging — a sense of place — are really starting to emerge as key ideas.”
In terms of retail, Tysons Corner Center, The Boro, and Tysons Galleria continue to be major destinations and are nearly back to pre-COVID visitation levels. While 56 percent of shoppers travel between 5 and 30 miles to Tysons, 27 percent come from more than 50 miles away.
“It is really known as a global destination for travel, tourism, and shopping for certain segments of people in different parts of the world,” Cristol says. “I think that’s been a long-standing strength of Tysons, and I think that’s going to be core to our recovery.”
Feature image of Perch Putt courtesy KGL Communications
This story originally ran in our October issue. For more stories like this, subscribe to Northern Virginia Magazine.