Comstock Holding Companies, Inc. (Nasdaq: CHCI) ("Comstock"), a leading real estate company specializing in the development, acquisition, operation, and management of mixed-use, transit-oriented properties and data center developments, today issued the following statement on behalf of an affiliate-owned entity, Comstock Herndon Venture, LC ("Comstock Herndon"), regarding the Fairfax County Circuit Court’s ruling in Town of Herndon, Virginia v. Comstock Herndon Venture, LC:
“We are pleased with the Court’s decision granting summary judgment in Comstock Herndon’s favor, confirming our position regarding the involved parties’ contractual rights and obligations," said a Comstock Herndon spokesperson. "While we are disappointed by the tone and characterization of the Town of Herndon’s public comments following the ruling, we remain willing to keep with our original intent to work with officials on redeveloping a key piece of Herndon’s historic downtown into a Class-A mixed-use development. We firmly believe moving forward with a collaborative approach would be in the best interest of all stakeholders.”
Comstock has a long history of investing in Northern Virginia and working closely with local officials and communities to create places that enhance the surrounding community while generating jobs and other community benefits. Comstock supports an approach to the next steps regarding the Herndon property that will adhere to the rights and obligations of all parties and develop a constructive path forward, avoiding additional delays from continued litigation and instead focusing on the vision developed in collaboration with Herndon officials long ago - a thriving development that adds to the fabric of Herndon’s historic downtown.
About Comstock
Comstock (Nasdaq: CHCI) is a leading real estate company specializing in the development, acquisition, operation, and management of mixed-use, transit-oriented properties and data center developments. With over four decades of industry expertise, Comstock’s vertically integrated operating platform delivers long-term value across a rapidly growing portfolio of premier properties that includes two of the most prominent mixed-use, transit-oriented developments in the Mid-Atlantic region. Leveraging its scalable, asset-light, debt-free business model, Comstock has strategically expanded into large-scale AI and digital infrastructure development and established an active position in one of the real estate industry's top-performing segments. For more information, please visit Comstock.com.
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