Join Club

Ask Eli: Investing Along Columbia Pike — Trafalgar Flats Update

This regularly-scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Rosslyn resident. Please submit your questions to him via email for response in future columns. Enjoy!

Question: How much interest has there been in Trafalgar Flats and do you think it’s a good investment?

Answer: Twelve months ago I introduced a new condo building off of Columbia Pike, Trafalgar Flats, by Pillars Development Group. Now that they’re near completion, I stopped by to take a look at the progress and talk to Rick Snider, Pillars’ VP of Planning & Design.

Impressive Design, Upgraded Finishes

Trafalgar Flats owners will be pleasantly surprised with the quality of the finishes; everything is upgraded well beyond what one expects at this price point.

It’s a modern design without being over-the-top and includes nice touches, like heavier interior doors, most builders skip. Instead of using standard bucket-style recessed lighting, they chose LED lights that lay flat against the ceiling (pictured below) for a minimalist look I expect will become a trend.

Strong Pre-Sales

Selling condos without a model isn’t easy so having 40% sold (33 of 78 units) already reinforces how starved Arlington is for new condos at a reasonable price (about half the cost of comparable units at Key & Nash).

To Pillars’ credit, their sales have been evenly distributed across each of the three types of units – Jr 1BR ($265k+), 1BR ($340k+), and 2BR/2BA ($475k+). I was particularly interested in how the Jr 1BR would sell because it’s a product that we don’t see much of around here; it turns out they made the right decision.

Trafalgar Flats will be complete, with a model unit, by the end of the year. Although that comes at the slowest time of the year for local real estate I expect the pace of sales to move quickly. I wouldn’t be surprised if they are sold out by March 2019, sooner if Amazon HQ2 announces their move to Arlington.

Investing Along Columbia Pike

Western Columbia Pike has a higher appreciation ceiling over the next 5-10 years than most Northern VA neighborhoods. It is primed for a shift in residential and commercial activity as the County’s Multimodal Street Improvement project reaches completion over the next few years, including improvements to underground utilities.

Just this year, major projects along western Columbia Pike have been announced or under construction including Trafalgar Flats, a new Pillars townhouse community, Centro Arlington (anchored by Harris Teeter), and Gilliam Place Apartments.

Thoughts From Pillars Development Executive

I spoke with Rick Snider, long-time Northern Virginia real estate Executive and VP of Planning & Design for Pillars, about Trafalgar Flats and his thoughts on development along Columbia Pike:

How did you choose this area over others to build TF? We were immediately attracted to this site when it came onto the market due to the ‘hole’ in the market relative to “For Sale” product versus “Rental”; we rightly anticipated that some nearby apartment renters would want to become new home owners, rather than purchase an older condo.

Are there other pockets of Northern Virginia or Arlington that you believe has similar appreciation potential? We like Columbia Pike and the market along it; we already have townhouse lots in planning nearby Trafalgar Flats to emphasize our interest in and commitment to this area, and are hopeful that our searches for additional land development opportunities in the area will be rewarded.

Where do you see Columbia Pike Development in three years and in seven years? When do you expect the biggest transition to take place along the Pike? The foundational change of course is found in the Multimodal Project which underscores Arlington County’s commitment to upgrade the infrastructure along this important corridor and to thereby not only improve existing residents’ quality of life, but also to attract additional developments like Trafalgar Flats, Centro Arlington and Gilliam Place.

Do you think Columbia Pike or Lee Highway will re-develop faster?  If you had asked me this a couple of years ago, I would have weighed in on Lee Highway without hesitation, but I think that with the new developments underway and with the infrastructure improvements going in now and in the future that it becomes much more of a horse race; and I think that the price of housing, both for sale and rental, may well be the deciding factor that pushes the Pike ahead.

If you’d like a question answered in my weekly column, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at www.EliResidential.com. Call me directly at (703) 539-2529.

Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with Real Living At Home, 2420 Wilson Blvd #101 Arlington, VA 22201, (202) 518-8781.

Recent Stories

Good Monday evening, Arlington. Today we published articles that were read a total of 9202 times… so far. 📈 Top stories The following are the most-read articles for today —…

A new coalition will tackle how Arlington nonprofits and county government distribute food and support people who are food insecure. The group held its kick-off meeting at Central Library last…

A Lunar New Year celebration is coming to the Pentagon City mall this weekend. On Saturday, Feb. 4, the Fashion Centre at Pentagon City is partnering with Asian American Chamber…

Arlington County police are investigating two separate incidents of gunfire overnight. The first happened in the Green Valley neighborhood, where shots were fired shortly after 10:30 p.m. and police found…

Need help dealing with anxiety, depression or stress?

If you’re struggling to cope with anxiety, depression or stress, our virtual psychotherapy services can help. We offer a confidential and convenient service that’s tailored to your needs.

In our practice, cognitive behavioral therapy (or CBT) is an important tool we use to provide effective relief for those facing anxiety and depression. We believe that cognitive change can be used to improve behaviors and emotions, thus allowing you to achieve mental wellness. By understanding the cognitive distortions that lead to negative thought patterns, we are able to create interventions tailored to each of our clients. This empowering approach can help you gain control of how your own thoughts, beliefs, and behaviors impact your experience. With CBT, our service provides an effective treatment that can bring long-term change and mental stability.

Book a free consultation today and see how we can help you live a happier and healthier life.

Read More

Submit your own Announcement here.

St. Charles offers a play-based curriculum in a welcoming, Christ-centered environment.

Our program focuses on socio-emotional development and kindergarten readiness through hands-on and engaging activities. Our programs offer different schedules ranging from 7:30 am-5:30 pm for students, ages 2-5. We feature a full-day Jr. kindergarten class for older 4’s/5’s. Our facility includes a full-sized gymnasium, school chapel, and library. All of our students enjoy music and physical education weekly. Children have an opportunity to participate in enrichment classes such as soccer, basketball, ballet, and science.

We offer Summer Camp with weekly themes and twice a week water play, including Fun Friday moon bounce. Please join us for our Open House Feb. 3 at 9:30 am and 11:00 am. Click here to sign-up.

For more information or to schedule a tour, visit us at www.stcharlesarlington.org or call (703) 527-0608.

Submit your own Announcement here.

Almost, Maine

Just in time for Valentine’s Day, join us for a series of vignettes that revolve around the theme of love. Taking place in an almost-town called Almost, Maine, we will show you different, but important, facet of love in each

First-time Moms Meet & Greet

The truth, your first pregnancy and new mom months are full of twists and turns, ups and downs, and lots of questions! None of us really know the best way to do it – we just figure it out, together…

×

Subscribe to our mailing list