Better signage and wider lanes may be on their way for the Custis Trail.
The four-mile paved trail between the Key Bridge and the W&OD Trail is “a very useful short cut for area cyclists” getting to downtown D.C., but has some missing signage and limited sight lines, says local bicycling guide BikeWashington.org.
Two new candidates for Arlington County Board have emerged — one is new to the ballot, while another is returning.
Last night (Wednesday), first-time candidate and current Planning Commissioner Tenley Peterson and second-time candidate J.D. Spain, Sr. announced their bids for the seat Chair Libby Garvey will vacate at the end of the year.
This regularly scheduled column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. If you would like to work with Eli and his team in Northern Virginia and the greater D.C. Metro area, you can reach him directly at [email protected].
Question: Does the cost of renting a home in Arlington increase at a similar rate as the cost of buying a home in Arlington?
Answer: The cost of renting and buying a detached home increases at a similar rate, but the cost of renting a condo has outpaced the cost of buying a condo.
Condo Rents Rising Faster than Condo Prices
Since 2020, the cost of renting a detached home in Arlington increased at a similar rate as the cost of buying a detached home; 26% and 28%, respectively.
However, the cost of renting a condo increased significantly faster than the cost of buying a condo; 21% and 6%, respectively.
Sale Price to Rental Rate Multiple Shifts with Interest Rates
The table below shows the average price and $/SF of buying a detached home or condo relative to the average annual rent for a detached home or condo, in Arlington. Higher multiples show that buying is becoming more expensive relative to renting.
Takeaway: Condo buyers are more rate sensitive than detached home buyers and are more likely to rent (higher rental demand = strong condo rent appreciation) than buy (weakened purchase demand = low condo value appreciation) when interest rates increase. Notice how quickly the sale price to rental rate multiple drops from 2020/2021 to 2022/2023 (rates skyrocketed spring/summer 2022). (more…)
A 30-year-old man has been charged with arson, among other crimes, after allegedly trying to light a fire inside an ACPD cruiser.
The incident started Tuesday morning at the Pentagon Centre shopping center in Pentagon City. Arlington County police say the suspect shoplifted from two separate stores before officers arrived and took him into custody.
Arlington May Get Another Big HQ — “CoStar Group Inc. (NASDAQ: CSGP) is expected to move its headquarters to Rosslyn, consolidating its presence in Virginia and dealing another blow to downtown D.C. The real estate data giant, which has steadily grown its Virginia operations — most notably in Richmond — even while maintaining its official headquarters in the District, is near a deal to acquire the Central Place office tower in Arlington from JBG Smith Properties Inc. (NYSE: JBGS), according to sources familiar with those negotiations.” [Washington Business Journal]
Feds Helping with Homelessness — “The U.S. Department of Housing and Urban Development (HUD) has awarded more than $3 million in competitive funding to Arlington County’s Continuum of Care (CoC) for Homelessness.” [Arlington County]
Join us for a delightful Sunday afternoon at the BlackRock Center for the Arts as Cruise Planners Beth & Rod present a special travel-inspired matinee featuring the beloved film Under the Tuscan Sun.
Date & Time: Sunday, May 31 | 3:00 PM – 6:00 PM
Good Wednesday evening, Arlington. Let’s take a look back at today’s stories and a look forward to tomorrow’s event calendar.
The following articles were published earlier today — Feb 7, 2024.
Developer JBG Smith filed a new conceptual site plan late last month proposing to redevelop a Crystal City office building.
The building, located at 1800 S. Bell Street, was leased by Amazon until its lease expired in 2023.
Lee’s Sandwiches, which bills itself as the “World’s Largest Bánh Mì Chain,” has temporarily closed its doors in Ballston but may reopen under new ownership.
The Ballston location at 801 N. Quincy Street appears to have been closed for at least a month and is listed as “temporarily closed” on Google Maps and on a sign posted inside the door.
The facade of the new 36-story Hilton in Rosslyn is nearing completion but it could be nearly two years before the hotel welcomes its first guests.
Meanwhile, the project’s residential counterpart, Rosslyn Towers, is close to being done, with new tenants expected to move in within a few months, the developer tells ARLnow.
Arlington has plenty of dimly lit, romantic restaurants and charming, cozy local spots suitable for a date night.
Whether you’re hoping to share a bowl of noodles “Lady and the Tramp”-style, split a slice (or whole pie) with a partner, or would rather skip straight to dessert, these local spots have you and your loved one covered for Valentine’s Day next week.
