real estate

Morning Notes

By ARLnow.com

Crystal City Serves Up Latin Flare — On Sunday, food and wine lovers flocked to Crystal City for the consumption bonanza known as Vintage Crystal. Now in its fourth year, Vintage Crystal continued last year’s Latin theme. There were South American wines, tequila tastings, salsa dancers and lots and lots of food. See more photos on Flickr.

Capital Bikeshare Gets New York Times Write-up — The Old Gray Lady spent some time in Arlington recently to preview the Capital Bikeshare system, which officially launched yesterday. Not content to give Arlington and DC all the spotlight for hosting the largest bike share system in the country, the Times noted that New York is studying a possible bike sharing program of its own: 30,000 bikes, nearly 30 times as many as Washington’s modest collection of 1,100 custom-designed Capital Bikeshare cycles. More from the New York Times.

Arlington Real Estate Down a Bit in August — According to data from local Realtor Laura Rubinchuk, the average residential real estate sale price in Arlington fell 2 percent last month. Overall, Rubinchuk says the market is holding steady. More from Arlington Real Estate News.

Park(ing) Day Fun in Rosslyn — The Ode Street Tribune catches some urban hula hooping on tape during Friday’s quirky Park(ing) Day celebration.

Flickr photo by Cliff1066

County Panel to Consider Colonial Village Renovations

By ARLnow.com

A county panel could approve major renovations to part of a historic housing complex as soon as tomorrow night.

The Arlington Tenant-Landlord Commission is scheduled to hear arguments for a plan to renovate the 162 Colonial Village apartment units owned by Wesley Housing Development Corporation. The hearing will take place at 7:30 p.m. in Azalea Room (lobby level) of 2100 Clarendon Boulevard.

The plan calls for major upgrades and configuration changes, including new windows, kitchens, bathrooms and insulation. The grounds will also be improved, with new walkways and lighting.

Currently, there 109 one-bedroom and 53 two-bedroom apartments among Wesley’s Colonial Village portfolio. The non-profit expects the post-construction mix of units to be 90 one-bedrooms, 57 two-bedrooms and 14 three bedrooms. Seventeen apartments would be constructed to be compliant with Americans with Disabilities Act accessibility specifications.

If approved by the commission, Wesley hopes to begin renovating small batches of apartments starting in April 2011. Affected residents would be moved to either a vacant unit or to another apartment complex, with the moving costs at least partially paid for by Wesley. The entire renovation process is expected to take about a year.

Some tenants will not be allowed to move back in after renovations, however. All but 33 of the new apartments will be placed into the Low Income Housing Tax Credit program.  This fall, Wesley will begin interviewing tenants to determine whether their household income is low enough to qualify for the program. Tenants who don’t qualify may be able to move into one of the 33 market rate apartments, or may be forced to move elsewhere.

The income threshold for an individual is $43,500 or below. For a five-person household, it’s $67,080 or below.

The apartment buildings set to be renovated are 1702-34 North Troy Street and 2101, 2103, 2105, 2107, 2109, 2113 and 2115 North 18th Street.

Wesley, which is based in Alexandria, receives part of its funding from Arlington County.

Rent on the Rise in Pentagon City

By ARLnow.com

It’s getting more expensive to live in Pentagon City. Rent is expected to grow 4 to 7 percent over the next five years, according to online real estate publication GlobeSt.com. That follows a 4.9 percent increase in rent over the past year, according to a report from RED Capital Group.

The rise in residential rent comes at a time when a number of Pentagon City apartment complexes have sold at sky-high valuations. The Hampton Apartments at 1425 South Eads Street recently sold for $33.5 million, and the Metropolitan at Pentagon City luxury high-rise at 901 South 15th Street just sold for $125 million, according to the GlobeSt.com article.

RED’s report states that between the first quarter of 2009 and the first quarter of 2010, Pentagon City posted the fastest rate of multifamily rent growth of any Northern Virginia submarket. The 4.9 percent year-over-year growth in Pentagon City compares to 2.4 percent growth along Columbia Pike and -1.4 percent rent growth along the Rosslyn-Ballston corridor.

The effective first quarter rent was $1,902 in Pentagon City, compared to $1,700 in Rosslyn-Ballston, $1,407 along Columbia Pike and $1,327 in Falls Church. Apartment vacancy in Pentagon City decreased from 8.8 percent in 2009 to 6.2 percent in 2010.

Arlington Economic Development Director Terry Holzheimer says part of the reason for the increase in effective rent in Pentagon City may be due to the pricey new luxury apartment buildings which have recently started leasing in the area, bringing up the average. He said market fundamentals — higher-than-usual unemployment, stagnant personal income growth — don’t seem to support significant rent increases.

But higher rents on existing apartments have been pushing some residents out of the area. The Lenox Club apartment building at 401 12th Street South has been raising rent across the board by a minimum of 5 percent this year, according to a building representative. The rent increase has prompted a crush of moving van traffic as residents flee for cheaper buildings. That, in turn, has prompted management to bring in sign spinners to help attract new tenants.

It’s not clear what effect BRAC job losses will have on rent in Pentagon City, especially at a time when housing inventory continues to increase. As of the first quarter of 2010, 308 apartment units were under construction.

Would-Be Restaurant Will Be Torn Down, Turned Into a Park

By ARLnow.com

The strange case of Haze Restaurant, Bar and Lounge is coming to a close.

Essentially an old house gussied up in goth black paint and gaudy decorations, Haze looks severely out of place between the Arlington Arts Center and a soon-to-be yoga studio (formerly Curves). It was apparently meant to be a lounge-y kind of a place, which could have brought some nightlife to the relatively dead section of Wilson Boulevard near the Virginia Square Metro, but it was brought down by some very poor planning.

We’re told that the owner undertook renovations on the building before any county permits were issued (or even requested), a big no-no. County staff then tried to work with the owner to get the building into compliance, but he decided instead to shutter the place. That was last year.

Then, on Friday, the Arlington County Parks Department informed the Ashton Heights Civic Association that the county had purchased the quarter-acre property. It will be used to connect Maury Park and Herselle Milliken Park, two tiny swaths of recreational space located on the same block between North Monroe Street and North Lincoln Street.

“The acquisition is consistent with the Public Spaces Master Plan, the Virginia Square Sector Plan and your neighborhood plan,” Park Development Division Chief Lisa Grandle told the AHCA.

Once the building is “deconstructed” — taken apart in a way that allows for more building materials to be recycled — the entire property will be converted to a park. Even the prime real estate next to Wilson Boulevard.

“The entire parcel will be used as park space in the near term, although the immediate frontage on Wilson Boulevard may be reconsidered in the long term if the remaining retail/commercial parcels on the block are consolidated and redeveloped,” Grandle wrote in an email to ARLnow.com.

Morning Notes

By ARLnow.com

End of the Rainbow Found — During yesterday’s sunny downpour in Pentagon City, we spotted the actual end of the rainbow. Turns out it’s the shuttered Crystal City Motel on Old Jefferson Davis Highway. Bad news for anyone wanting to search for a pot of gold: you’ll first have to scale the high fence around the decaying property.

Library Book Sale This Weekend — Central Library (1015 N. Quincy St.) is holding its two-day Friends of the Library Summer Book Sale this coming Friday and Saturday. The sale will take place outside, next to the garden and the tennis courts. See the Library Blog for more info.

Crystal City Apartment Building Sold — The Hampton Apartments at 1425 South Eads Street have been sold for a cool $33.5 million to Arlington-based MRP Realty and New York City-based Angelo, Gordon & Co. This article about the sale suggests that the relatively moderately-priced apartments may be ripe for renovation, which could turn the building into “a Class A asset in one of the top D.C. submarkets.”

Morning Notes

By ARLnow.com

Northrop Spurns Arlington, Doesn’t Even Call — First, Northrop Grumman decided to head to the grassier, cheaper environs of Fairfax County. Now, it turns out Northrop didn’t even give a “thanks but no thanks” call to Arlington Economic Development, which had been working with the company as it considered a building in Ballston for its new headquarters. More from WBJ’s Sarah Krouse. Also: Northrop, if you’re reading this, you still owe us a call regarding the status of your Rosslyn office.

Metro Plans Confusing Service Change — Metro is considering shifting some Blue Line trains to the Yellow and Orange Lines by next summer to help expand capacity. Simple, right? Wrong. Our friends at Greater Greater Washington will make your brain hurt by trying to explain in 1,000 words how Metro plans to pull it off.

Strong June for Arlington Real Estate — Arlington home prices soared 13.5 percent in June compared to one year prior, reports local Realtor Laura Rubinchuk. The average number of days on the market plummeted 27 percent.

Jimmy Smits TV Show Coming to NBC With Arlington Scenes — Three months ago we told you that Jimmy Smits was filming a TV pilot near the Iwo Jima Memorial. It turns out the show will be airing on Friday nights this fall on NBC. Promos have started running on the network, and a longer series preview (complete with a half-second’s worth of Arlington) is available here.

Morning Notes

By ARLnow.com

Twilight Fans Stay Up Late for Latest Film In Series — A sizable crowd showed up at the Regal Cinema in Ballston Common Mall last night for a midnight screening of The Twilight Saga: Eclipse. There was no mob scene outside — moviegoers with advance tickets steadily filed past the box office and into the theater. Most were exuberant girls and young women, although about one in ten was accompanied by a doting and expressionless boyfriend (or father). To accommodate the unusual crush of people coming out of the mall parking lot at 2:30 a.m., police directed traffic near the theater after the movie.

Byrd Funeral Will Take Place in Arlington — The funeral and internment of long-time Senator Robert Byrd (D-WV) will take place in Arlington on Tuesday. The funeral is scheduled to start at 11:00 a.m. at Memorial Baptist Church (3455 North Glebe Road). The service is open to the public, although seating is limited. Byrd, who died Monday at age 92, will be buried next to his wife Erma in a private internment at an Arlington cemetery.

Free Cab Rides Return for the 4th — For a while, it looked as though a lack of funding might cancel the SoberRide program for the Fourth of July. But thanks to last-minute donations, the program will be back offering free taxi rides in Arlington, the District, Fairfax, Loudoun and other locales. The program will cover fares of up to $50, but you must call 1-800-200-8294 to book the cab.

Summer Doldrums for Real Estate Agents — After a busy spring, local Realtor Laura Rubinchuk says there are not nearly as many people buying and selling homes this summer. More from Arlington Real Estate News.

Morning Notes

By ARLnow.com

Arlington Real Estate Prices Rise — Real estate prices continue to rise in Arlington, reports local Realtor Laura Rubinchuk. In May, prices of townhouses and detached single-family homes rose 4 percent and 5 percent respectively compared to 2009. The condo market was up 1 percent.

ACPD Investigating Thefts from Government Buildings — A group of thieves is targeting secured government buildings in Northern Virginia. According to The Atlantic’s Marc Ambinder, the thieves wait for people to swipe their security badges at entrances, nonchalantly follow them in, and then proceed to steal valuables from unoccupied offices. The Arlington County Police Department is conducting a joint investigation of the break-ins with the U.S. Secret Service and the Diplomatic Security Service.

Crystal Cup Results — Yesterday we brought you a recap of the Air Force Cycling Classic’s Clarendon Cup, which was held on Saturday, but neglected to mention the results of the second half of the Classic — the Crystal Cup, which was held in Crystal City on Sunday. Luckily, CyclingNews.com covered the race here.  Among those taking the podium following the women’s race was local rider Erin Silliman.

Afternoon Notes: County To Spend Millions on Crystal City

By ARLnow.com

Arlington to Spend $90 Million To Improve Crystal City — Arlington County will spend about $90 million improving roads and parks in Crystal City in the wake of the 13,000 jobs set to leave the area by September 2011 as a result of the Base Realignment and Closure (BRAC) plan. A long-range economic development plan for Crystal City is expected to be approved this summer. More from the Washington Examiner.

Man With Gun Tried to Visit Fictitious Admiral At Pentagon — From WTOP we learn that on April 9, a month after the  shooting outside the Pentagon Metro station, a man approached a screening area at the Pentagon and told security he was visiting an admiral — an admiral whose name was made up. Pentagon police later searched the man’s car and found a loaded 9-millimeter pistol. More from WTOP.

Real Estate Prices Rise in Arlington — The sales price of real estate in Arlington rose three percent in April compared to a year prior, according to Arlington Real Estate News. Foreclosures rose region-wide in April, but fell 4.6 percent in Arlington, according to data from RealtyTrac.

Afternoon Notes: Home Prices Up In Arlington

By ARLnow.com

Home Prices on the Rise — The average sale price of a single family home in Arlington rose 17 percent in March, compared to the same period in 2009, local Realtor Laura Rubinchuk reports. “Inventory is way down as we’ve sold through many of the properties for sale,” Rubinchuk writes. She notes, however, that the average price of condos and co-ops fell 6 percent from 2009. More from the Arlington Real Estate News blog.

Colorful New Signs for Shirlington Village — “The old ones looked like they were in an 80s business park,” a commenter quips on the Shirlington Village Blog.

In Case You Missed It — Did you miss Arlington’s Outstanding Volunteer Award reception or Columbia Pike’s bicentennial birthday bash? Don’t worry, the county government’s Arlington Virginia Network has you covered. Check out video recaps of each event, after the jump.

(more…)

Afternoon Notes: Real Estate Resurgence, Bike Show Recap

By ARLnow.com

Home Sales Surge — Home sales in Arlington County were up 29 percent during the first three months of the year, the Sun Gazette reports. The average price of homes sold rose nearly four percent. Home sales were down more than five percent in Fairfax County.

Bike Show Recap –Last week’s third annual Phoenix Bikes bike show was a success. The event, held in Ballston, serves as a fundraiser for the non-profit bike shop. More than 250 people attended, according to the Commuter Page Blog. With the price of admission set between $20 and $25, the show would have raised at least $5,000, excluding proceeds from the silent auction.

View More Stories