The News-Press erred on its front page last week when it noted that the asking price for real estate in the commercial zones of downtown Falls Church have gone as high as $5 million an acre. Actually, there’s at least one parcel on Park Avenue, a third of an acre, where the owners want $3.5 million. That puts the value, per acre, at double what we reported, more than $10 million. No wonder things have stalled out. Just picture what kind of development would have to go onto that site to bring a sufficient annual return to interest an investor.
