Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!
Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.
As of December 18, there are 107 detached homes, 28 townhouses and 130 condos for sale throughout Arlington County. In total, 12 homes experienced a price reduction in the past week, including:
Please note that this is solely a selection of Just Reduced properties available in Arlington County. For a complete list of properties within your target budget and specifications, contact Arlington Realty, Inc.
This regularly scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Video summaries of some articles can be found on YouTube on the Eli Residential channel. Enjoy!
Question: Do you think that the newly announced stadium for the Capitals and Wizards will cause home values to increase in Potomac Yard and the surrounding neighborhoods?
Answer: Last week Monumental Sports owner Ted Leonsis and Virginia Gov. Glen Younkin announced a new stadium complex for the Washington Wizards and Capitals in Alexandria’s Potomac Yard neighborhood, initiating a shocking departure from their current home in downtown Washington, D.C. Immediately, questions began to swirl about the costs and benefits of building a new stadium, including whether it would boost nearby home values.
Studies Say… It Depends
There are dozens of studies on the effect of stadiums on local and regional economies; most find that it costs taxpayers too much and the stadiums fail to deliver on the promises made by the team owners, who end up being the biggest beneficiaries.
There are also a number of studies looking at how sports stadiums effect nearby home values (you can reference some articles and studies I found here, here, here, here, here, and here) and the findings of those studies vary widely. Positive or negative price effects seem to depend on the economic/development state of the local community when the stadium is announced.
Stadiums built in communities in need of development/revitalization (e.g. what Nationals stadium did for Navy Yard) tend to result in a major boost to home values, yet stadiums in areas that are already economically successfully can have a negative effect on prices as shown by a study conducted on the effects of the Seattle Supersonics (NBA) leaving the Key Arena in Seattle, which led to home values increasing as a result of less traffic and crowds.
Potomac Yard, the location of the newly announced Caps/Wizards stadium, falls into the latter bucket — already economically/commercially successful without a stadium.
Homes Values In/Near Potomac Yard Already on Strong Trajectory
Potomac Yard already has a strong home value appreciation trajectory without a new stadium complex due to major developments including:
A robust commercial/retail development pipeline (I recall learning at a panel a few years ago that the development dollars earmarked for Potomac Yard are/were some of the highest in the region)
Adding a massive sports and entertainment arena will certainly expedite new development and most likely cause more development dollars to flow in, but I’m not convinced that a new arena increases the ceiling for appreciation more than the existing factors listed above.
It is also worth noting that without a new stadium complex on this land, it’s not like the land will sit vacant and unused, it’s an incredibly valuable piece of land that can and will be developed for commercial and/or residential use. That beckons the question of whether a new stadium and entertainment complex increases the projected home value appreciation more than another use of the land.
Stadium Likely a Net Negative for Many Homeowners
The expedited and additional development resulting from a new arena will create upward pressure on home values in Potomac Yard and the neighboring communities, but it comes at a significant cost of high traffic and crowding throughout the year in an area already plagued by traffic issues.
Given that plenty of commercial (retail, dining, shopping) development already exists in Potomac Yard and the surrounding neighborhoods (Old Town, Del Ray, Crystal/Pentagon City, Shirlington, and D.C. is pretty close too) for residents to enjoy, I think that many residents/future residents will find that the cost of the congestion far exceeds the benefit of marginal improvements to local entertainment and retail.
If enough homeowners consider the new arena to be a net negative for themselves, the logical conclusion is that demand in and around Potomac Yard will fall, which means a new arena will have a negative effect on the value of homes in the congestion area.
Better for Rentals, Condos
The effects may not be felt evenly across all housing types though. If I had to make a prediction, I would guess that a new stadium and entertainment complex will provide a material boost in apartment rental prices and potentially condo values, but become a drag on townhouse and single-family home values in Potomac Yard and the adjacent neighborhoods.
I’m assuming here that renters and owners in apartment buildings/condos rely more on public transportation/Metro and walkability than townhouse/single-family owners so will be less affected by traffic congestion and that those renters/owners are more likely to value easy access to the sports and entertainment events hosted in the new sports complex.
That would bode well for owners in condo properties like the Dylan (new condos in Potomac Yard) and the Eclipse (in Arlington, just north of Potomac Yard).
Home Value Increases May Be Speculative Only
I’ve written in the past about the “speculative boom” of home (specifically condo) prices after the Amazon HQ2 announcement and the abnormal ~10% appreciation in the condo market following the HQ2 announcement was purely speculative about the future benefits of Amazon HQ2.
I’ve gotten multiple messages from clients/contacts excited about the home value appreciation that will follow the new stadium complex, but that excitement is of course speculative for now. I would not be surprised if there is a bump in home values in/near Potomac Yard speculating on the benefits of the stadium, but buyers and investors should be careful placing much, if any, speculative premium on adjacent housing (especially townhouse/single-family) because of the concerns shared in this column about the effect on actual demand.
My Humble Opinion
After my initial reaction of “we’re getting a stadium and concert venue in our backyard!” wore off, I think this is a terrible deal not just for the people who live nearby the proposed stadium but for Virginians and the entire DMV.
The added congestion for those who live nearby and rely on those sections of Rt 1, GW Parkway, and 395 (not to mention all the smaller side streets) and for those coming and going from Reagan National Airport will be a significant negative on a frequent basis. Plus, it’s not like getting to Capital One Arena is all that difficult for Arlington/Alexandria residents anyway so there’s little gained for most of us.
The Washington Post just published an article saying that the stadium complex could cost Virginia taxpayers $1.35B which would be the largest arena subsidy ever. I’m not sure if that number accounts for all the increases in infrastructure, police, etc costs that come with supporting the on-going operations of the complex and events. The promise is that the taxpayer subsidies will get paid back over a few decades through revenue generated off the arena (parking, naming rights, etc) and additional taxes but studies have found that taxpayers usually end up getting the short end of the stick on these stadium deals.
The entire DMV suffers because access to the stadium becomes more difficult for a majority of fans (think about people coming from the Maryland suburbs), the teams leave their home city, and downtown D.C. gets crippled by the loss of sporting events. A strong, vibrant D.C. core is important for the entire DMV and this is a crushing blow to an already fragile downtown.
This column is full of my opinions and assumptions on how people feel about the pros/cons of the stadium complex; I know how I’d feel if I found out an arena like this was being built a mile or so from my house. What do you think? Am I wrong? Do you think enough homeowners will see this as a net positive and demand will increase for housing in Potomac Yard and the adjacent neighborhoods?
If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].
If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at (703) 539-2529.
Address:3612 N. Rockingham Street Neighborhood: Minor Hill Type: 6 BR, 7 (+2 half) BA single-family detached — 6,000 sq. ft. Listed: $3,300,000
Noteworthy: Well designed home on 18,000 square foot lot in Discovery/Williamsburg/Yorktown
Spring Street Development presents a quality-built home with four finished levels of well-proportioned space. Filled with natural light to enhance the oak, finished-in-place hardwood floors, quartzite countertops, polished nickel and glass hardware, and the fine details of this exceptional home.
Expansive screen porch offers cathedral ceiling with skylights and heaters for nearly year round use and tranquil treed views. It leads to a stone patio which is also accessed from the lower level rec room. The wet bar has an icemaker and tall fridge for beverages and wine, making gatherings easy to manage. Stone floored porch opens to inviting foyer with dining room to the right and private den to the left, complete with a full bathroom. The rest of this level is given over to the family room, anchored by a stone gas fireplace, breakfast area, appealing kitchen for cooks at all levels, mudroom opening to oversized two car garage (prepped for an EV charger) and a butler’s pantry.
Upstairs, the primary bedroom has a tray ceiling, coffee bar, double walk in closets with custom fittings, and a marble and tile bathroom with heated floor. Each of the secondary bedrooms has a private bathroom, and the top floor loft provides space for a tucked away office, teen retreat, or another bedroom with bathroom. Another bedroom and bath is on the lower level along with a flex room for gym, play, and hobbies.
The holidays are upon us and many of you are hosting family and friends for extended stays well into the New Year. But… what to do before and after the big celebration?
Fortunately, Arlington has one of the most active cultural scenes in the region, and this Winter Arts Highlight is your guide to the myriad ways to keep your guests entertained and engaged right here in Arlington!
Arlington’s exceedingly talented and creative array of visual and performing artists offer you many options this winter, including: this Saturday’s Holiday Cheer concert by National Chamber Ensemble (Dec. 16); grab last minute gifts at the Holiday Makers Market at the Commentary Social House (Dec. 16); Synetic Theater’s youth-friendly, movement-based performance of Snow Maiden (now thru Jan. 6).
Below are a few sample highlights. For a more comprehensive list of events and activities taking place in Arlington through January, see the full Arlington Arts’ Winter Arts Highlight.
Celebrate the season with an evening of classical and popular holiday favorites for the entire family! Guest violinist Dylana Jenson is known for her appearances with all the major American Symphony Orchestras, The Tonight Show and has even played a duet with Jack Benny. She will join NCE’s artistic director/violinist Leo Sushansky to perform the Concerto for Two Violins by J.S. Bach and the virtuoso showpiece, Introduction and Rondo Capriccioso by Camille Saint-Saens, which she recorded for RCA with the Philadelphia Orchestra. The program concludes with a Carols Sing-Along guaranteed to put everyone in the holiday spirit.
Fred Schnider Gallery of Art: “Cross Pollination” Delna Dastur Thru December 30 | Fred Schnider Gallery of Art | Ballston
“Cross Pollination” includes painting and drawings that explore our peaceful and conflicted relationship with nature. Join for the Artist Talk with Delna Dastur on Saturday, December 9 from 5-7 p.m.
Arlington Artists Alliance: Above & Beyond January 3-26 | Gallery Underground | National Landing
Gallery Underground kicks off the new year with a group show in appreciation of their hard-working Board members. Arlington Artists Alliance Board: Above & Beyond features artworks by their generous Board member artists who dedicate their time behind the scenes to strengthen their programs and outreach. The exhibition will represent their various artistic styles, mediums, and talent. Join for the First Friday Opening Reception on Friday, January 5 from 5-7 p.m., featuring live music by US Army Field Band musician Troy Paolantonio.
Friday Morning Music Club: St. George’s Chamber Series
Friday, January 5 | 12 p.m. | St. Georges Episcopal Church | Virginia Square The Friday Morning Music Club resumes the Arlington portion of its free series of concerts with the following program:
Borodin: Polovtsian Dances. Chen-Li Tzeng and Jeongseon Choi, piano four hands
Spohr: Six German Songs for Soprano, Clarinet, and Piano, op. 103. Marjorie Wellman, soprano; Carol Falvo, clarinet; Lois Jones, piano
Debussy: Piano Trio in G Major. Bonnie Shuen (guest), piano; Kay Kakazawa (guest), violin; David Pearl, cello
This beloved story follows Marlin, an anxious and over-protective clownfish, who lives in the Great Barrier Reef with his child Nemo, who longs to explore the world beyond their anemone home. But when Nemo is captured, Marlin decides to face his fears and sets off on an epic adventure across the ocean. With the help of lovable characters such as the optimistic Dory, laid-back sea turtle Crush, and the Tank Gang, Marlin and Nemo both overcome challenges on their journey to find each other and themselves. More
The incomparable Nova Y. Payton sings the repertoire of acclaimed tunesmith Burt Bacharach, whose six-decade career produced the hit musical Promises, Promises as well as chart-topping pop songs including “I Say A Little Prayer,” “Raindrops Keep Falling on My Head,” “I’ll Never Fall in Love Again” and “What the World Needs Now is Love.”
Powerhouse vocalist Nova Y. Payton staring in Signature’s The Color Purple last season.
Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!
Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.
As of December 11, there are 109 detached homes, 28 townhouses and 135 condos for sale throughout Arlington County. In total, 13 homes experienced a price reduction in the past week, including:
Please note that this is solely a selection of Just Reduced properties available in Arlington County. For a complete list of properties within your target budget and specifications, contact Arlington Realty, Inc.
This regularly scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Video summaries of some articles can be found on YouTube on the Eli Residential channel. Enjoy!
Answer: The craziness and amazingness of the world has led me to spend more time than usual thinking about how grateful I am for the people and things around me, so I thought I’d share some of the things Arlington offers that I’m most thankful for.
Parks, Trails, and Rec Centers
No matter where you live in Arlington, you have access to an incredible network of trails, parks, and rec centers for endless outdoor enjoyment that costs nothing. For me, commuting by bike on the Mount Vernon Trail along the Potomac River with iconic views of D.C. (when I had a commuting job), to pajama-wearing strolls with my son along the Bluemont Trail enveloped by fireflies, to sunrises over the blossoming tulip garden at the Netherlands Carillon, and all of the playgrounds that have filled weekend afternoons for our family are just a fraction of the joy I’ve gotten from the public spaces in Arlington.
Diversity of Great Food
Arlington itself offers wonderfully diverse cuisines and when you add neighboring jurisdictions of Washington, D.C., Annandale, Alexandria, and Falls Church to the mix we have access to delicious international cuisine from every corner of the world within 20-30 minutes. It’s a special thing that few people get to experience and shouldn’t be taken for granted.
Some of my all-time favorite Arlington restaurants are Mele Bistro (fantastic ingredients), Brooklyn Bagel (as good or better than any NYC bagel), La Union (papusas), Pho 75, Mussel Bar (cocktails and beer), Quarterdeck (crabs), El Chilango (tacos), Thai Square, Bob & Ediths’s Diner, Silver Diner, Super Pollo, Bonchon, and Texas Jack’s BBQ.
Comprehensive Transportation Network
Being 10 minutes to National Airport and 30 minutes to Dulles Airport is a luxury I will always appreciate. Having such easy access by car to almost all major regional roadways/highways so you can travel in all directions quickly is something that even many of our neighbors don’t get to enjoy. Access to Metro, Amtrak, VRE, bus lines, and a thoughtful trail/bike lane system provide us Arlingtonians with a comprehensive transportation system worthy of our appreciation.
So Many Activities!
Let me take a moment to shout-out the many community engagement organizations like the Rosslyn, Ballston, and National Landing Business Improvement Districts and the Columbia Pike Partnership for bringing us things like farmers markets and movie nights that have helped neighbors meet and build a sense of home in our neighborhoods.
Although just outside of Arlington, we have easy access to some truly incredible vineyards in Virginia wine country, amazing hiking and camping in the Shenandoah Valley, and of course all of Washington, D.C.’s museums and exhibits.
Schools
Our family has gotten to experience Arlington Public Schools first-hand for the first time this year, with our son starting Kindergarten at Barcroft Elementary. I can’t say enough about his teachers and the students/families he/we have met. We have been thoroughly impressed with his development in reading, math, and science thanks to the exceptional Arlington school system.
ARLnow Platform and People
This would be on my list regardless of whether I wrote my weekly real estate column for ARLnow. The Arlington community is lucky to have Scott and his team of awesome reporters and staff reporting daily on such a wide range of important local topics. It keeps us all engaged and informed about the happenings in our community which helps create a better sense of belonging and home for each of us. It is free from the influence and political agenda of a news organization beholden to large advertisers or media groups, which makes it authentically our own. I’m grateful to be a reader and a contributor to such a valuable community asset.
ARLnow Readers
Thank you ARLnow readers for being part of what makes such a crazy and difficult world also so wonderful and energizing. I’m grateful to be part of a community that offers us so much and hope that you all feel the same as we close out 2023. I’d love if you add to the comments section some of what you appreciate most about living and/or working in Arlington.
If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].
If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at (703) 539-2529.
Address:43041 Greeley Square Neighborhood: Brambleton at Birchwood Type: 3 BR, 3 BA courtyard, single level — 2,500 sq. ft. Listed: $859,990
Noteworthy: 55+ Single Level Living
Located in Brambleton, Virginia this 55+ living community of Birchwood at Brambleton has everything you need, right on your doorstep.
Just minutes from the Brambleton Town Center, you are desirably located near shopping, dining, entertainment and more. Residents at Birchwood have unlimited access to community events, yoga, arts and crafts classes, and other social gatherings. At the Clubhouse there are endless amenities such as indoor/outdoor pools, game rooms, a golf simulator, yoga studio, sports court, community garden and even trails containing a quaint fishing pier.
Birchwood at Brambleton’s healthy and social lifestyle delivers both accessibility and luxury resort living right to your front door.
This sponsored column is by Law Office of James Montana PLLC. All questions about it should be directed to James Montana, Esq., Doran Shemin, Esq., Janice Chen, Esq., and Austen Soare, Esq., practicing attorneys at The Law Office of James Montana PLLC, an immigration-focused law firm located in Falls Church, Virginia. The legal information given here is general in nature. If you want legal advice, contact us for an appointment.
Anyone who has ever had to file paperwork with a state or federal agency knows that it can be confusing. Where am I sending this application? Who has the power to approve my request? Why does this office handle my application and not the other office?
Immigration is no different. Various federal agencies come into play when it comes to immigration petitions and applications. As always, we are here to help! Here is a breakdown and brief explanation of the agencies (and sub-agencies! And then sub-offices!) that immigration lawyers and immigrants interact with.
First, there is the Department of Homeland Security. The three major sub-agencies within the Department of Homeland Security that we deal with are (1) U.S. Citizenship and Immigration Services; (2) Immigration and Customs Enforcement; and (3) Customs and Border Protection.
(1) S. Citizenship and Immigration Services, or USCIS, is a benefit-processing sub-agency. USCIS accepts and adjudicates all types of immigration applications, including work permit applications, green card applications, and naturalization applications. USCIS is not an enforcement agency. USCIS also houses asylum offices, which only adjudicate asylum applications. There are many field offices and asylum offices around the country that conduct applicant interviews. In Virginia, we have two field offices: the Washington Field Office in Fairfax and the Norfolk Field Office. Virginia also has one asylum office in Arlington. The other local USCIS field office close by is located in Baltimore.
(2) Immigration and Customs Enforcement, or ICE, is exactly what it says in the name — an enforcement branch of the Department of Homeland Security. We generally deal with two sub-offices within ICE. First, there is the Office of the Principal Legal Advisor, or OPLA. They are the immigration prosecutors that appear in court and represent the Department of Homeland Security’s position in removal or deportation proceedings.
Second, there is Enforcement and Removal Operations, or ERO. Again, the name basically explains it all. ERO is like the immigration police. They enforce deportation and removal orders and conduct check-ins with people who have been conditionally released from immigration detention. The Virginia ERO office is located in Chantilly. The Maryland ERO office is in Baltimore.
(3) Customs and Border Protection, or CBP, are the border police. They are the agents that review passports at ports of entry, like airports and seaports, to make sure that a person has the correct documents to enter the United States. They also can arrest people that have entered the United States unlawfully if those people are found within a certain distance from a land or sea border. Finally, they also review luggage and shipments to ensure that people are not bringing illegal or problematic items, like counterfeit goods, into the United States.
This is a sponsored column by attorneys John Berry and Kimberly Berry of Berry & Berry, PLLC, an employment and labor law firm located in Northern Virginia that specializes in federal employee, security clearance, retirement and private sector employee matters.
By Melissa L. Watkins, Esq.
Performance Improvement Plans (PIPs) can be a dangerous proposition for federal employees.
Federal employees who realize that a PIP is being considered, should be wary and consult with a federal employment attorney early on to make sure they maximize their chance of surviving a performance related action. In our experience, an employee being put on a PIP is usually heading towards more serious disciplinary action, such as demotion or removal.
Federal employees often will be told that a PIP is only designed to benefit them and make them better performers. Managers often promise employees that they will be given special assistance to ensure they are successful during a PIP period, only for the employees to later find themselves facing a potential demotion or removal some months later having not received any of the promised assistance during the process. In many ways, the deck is stacked against the employee when facing a PIP.
Opportunity to Improve
If an employee is said to be having performance issues, before an agency can take any action to demote or remove the employee, the agency must notify the employee of the concern and give the employee an opportunity to improve. This notification and opportunity to improve is usually accomplished by the agency placing the employee on a PIP. Through the PIP, the agency must inform the employee what performance is not acceptable, what critical performance element(s) are at issue, what standard the employee must meet to be found acceptable, and provide a warning to the employee that if their performance does not reach an acceptable level, the employee could be demoted or removed.
What To Do If Placed on a PIP
There are a few things that an employee can do once receiving a PIP to give themselves the best chance at being successful. Those things include:
Providing a response to the PIP. While the PIP doesn’t afford a traditional response process, an employee can always put together a response nonetheless. In such a response, the employee should identify any concerns with the PIP and provide examples, if they exist, of how the employee has been performing successfully on the elements at issue.
Don’t wait to start demonstrating improvement. Even if the employee disagrees with the PIP or the alleged performance concerns, the employee should start working on meeting the performance expectations outlined in the PIP. Waiting too long to address the performance issues can sometimes lead to the employee running out of time in the PIP process.
Document everything. Once a PIP is issued, one of the employee’s best tools is documentation. For all tasks completed relevant to the PIP, the employee should save documentation showing the task and its completion. The employee should also keep a log of all assistance received and all feedback provided from the supervisor. As mentioned above, if an agency fails to provide feedback or assistance, it can impact the agency’s ability to move forward with disciplinary action.
Request an Accommodation. If the employee believes that the performance issues are related to a disability, the employee should request an accommodation as soon as possible. The accommodation will not stop the PIP, but ideally, the accommodation will allow the employee to be better able to meet the performance expectations outlined in the PIP.
Keep an eye on the use of leave. An employee can use leave during a PIP period. An employee on approved leave (annual, sick, or leave without pay) cannot be penalized for work that is not completed while on approved leave. Also, if an employee is on leave for an extended time during a PIP period, the PIP period may need to be extended to give the employee a meaningful opportunity to improve.
What Happens After a PIP
If the employee is still performing unacceptably after the PIP period, the next step is usually some type of discipline. The options include reassignment, demotion, or removal. If the employee is proposed for removal, he or she can be removed in a very short period of time after the decision on the PIP.
Given the potential serious implications of a PIP, employees who believe one may be issued, or have received a PIP, should consult with an attorney to determine how best to proceed. Our law firm advises federal employees in various employment matters. We can be contacted at www.berrylegal.com or by telephone at (703) 668-0070.
The continued prevalence of remote work and the high office vacancy rate shifted how Arlington Economic Development (AED) approached business investment in 2023.
While our team still focused on business attraction and retention, the bread and butter of economic development, we also looked at other ways to boost economic growth and innovation in Arlington. While the tech ecosystem has always been a strength in Arlington, this year, we doubled down on investments and programming to support early-stage entrepreneurs on their path to becoming high-growth businesses in Arlington.
Additionally, we looked at ways to facilitate market-based solutions to our office vacancy issue by removing regulatory barriers. Despite the continuing challenges facing the office market and local economies, AED notched numerous substantial accomplishments in 2023.
This year, we saw D.C.-area companies relocating to Arlington to take advantage of our prime location and transit-friendly, amenity-rich environment. We also saw movement in the international market, with foreign companies basing their U.S. headquarters in Arlington to gain easy access to U.S. policymakers across the river in D.C., the region’s plentiful talent, and the abundant flights to Europe.
Here are some of the business investment highlights from 2023:
In June 2023, Amazon hit a significant milestone in its headquarters development and opened two office towers at Metropolitan Park in National Landing.
November 2023 marked five years since Amazon announced a second headquarters location in Arlington, where its’ local presence has been growing.
Announced a move of its headquarters to expanded space in Pentagon City.
AED’s commitment and investment in our local tech ecosystem is perhaps no better demonstrated than with the new Arlington Innovation Fund (AIF). The Arlington County Board funded AIF with $1M in mid-2023 to support growth in the tech ecosystem in Arlington. AIF includes two components: Catalyst Grants and Ecosystem Support. The Catalyst Grant program awards up to $50,000 for early-stage tech startups to extend their funding runway and expand their customer base, employment and operations. AED will announce the recipients of the initial application round in early 2024.
Beyond the Catalyst Grants, AED is building a more robust tech ecosystem in several ways. In September, we partnered with Unstuck Labs, a Rosslyn-based studio that helps startups validate ideas, build products and launch ventures. AIF also funded the George Mason University Entrepreneur–in–Residence Program, which is bringing on-board successful local entrepreneurs to mentor new founders.
This year, Arlington made key changes to create regulatory flexibility and a nimble approach to combat office vacancy through the Commercial Market Resiliency Initiative (CMRI). By removing regulatory barriers and constraints, the County seeks to enable market-based solutions to address the commercial building supply, specifically repositioning and converting obsolete inventory by allowing more types of businesses to use office space. CMRI will continue to evolve in 2024 and focus on five strategic areas: office conversion, repositioning, redevelopment, tenant support and placemaking.
Other highlights of the year included our tech workforce program moving from a pilot program to a full-fledged program, Arlington Talent. The program, in partnership with Exelaration, had a 100% program completion rate, with most participants transitioning to full-time tech employment. Participants’ average pay and work rate increased by 26% and 38%, respectively and future pay and work rate will continue to rise.
As we look ahead to 2024, our 2023 accomplishments will serve as a base to continue to innovate and grow Arlington’s economy.
Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!
Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.
As of December 4, there are 109 detached homes, 30 townhouses and 145 condos for sale throughout Arlington County. In total, 29 homes experienced a price reduction in the past week, including:
Please note that this is solely a selection of Just Reduced properties available in Arlington County. For a complete list of properties within your target budget and specifications, contact Arlington Realty, Inc.
