When Penrose resident Pete Giannino answered his doorbell one day this March, he was surprised to see his neighbors standing there, looking concerned.
“They said, ‘Hey, are you guys planning on renting your home?’ And I said, ‘No. Why do you ask?’ And they pointed out there was a listing on Zillow or Redfin for our home that we own,” Giannino told ARLnow.
As noted in our Morning Poll last week, pumpkin spice season slipped even earlier this year.
About 62% of you said it was “way too early.” And yet! People are clearly buying it, talking about it, and even making videos about its inexplicable cultural allure.
Welcome to Kami’s Korner where we’ll take a deep dive into Arlington’s condominium market by focusing on what’s coming next. From emerging developments to shifting trends, this space will spotlight the opportunities and insights shaping the future of condo living in Arlington.
If you are in the market for a new Arlington condominium today, bring a flashlight. There is absolutely nothing to see and it’s a total ghost town. This isn’t a lack of buyer interest. I start by blaming the lingering, multi-year COVID hangover where no projects got designed, financed, or approved for several years since we didn’t know if the world would continue. Construction costs then further paralyzed commercial real estate and rising interest rates also crashed the party. No model units exist, no fancy preview sales offices or even a basic website landing page.
Want a place under 1,500 square feet? Pack your bags for Alexandria. Want a completely different suburban vibe? Enjoy the commute from McLean or Reston. The big local guessing game is simple. Who actually crosses the finish line first? Will it be 1501 Langston Boulevard? The upcoming tower at One Rosslyn? Or the old Key Bridge Marriott site known as Potomac Overlook?
Place your bets now. None will begin before roughly 2029 if all goes well.
If you are in the market and don’t want to wait until 2029 for these new communities to make a buying decision, you might consider the latest luxury condominium in Arlington in Rosslyn, Pierce. This stunning community sold out in 2024 and there hasn’t been another new condominium community since. Let’s look at some of what the community offers.
A Real Option: Pierce
With 104 residences spanning 27 floors, Pierce offers expansive floor plans with premier interior finishes. At the height of sophisticated condominium living in Rosslyn, it boasts showstopping Potomac River and DC skyline views through dramatic, floor-to-ceiling windows, generous private balconies, high-end finishes, and excellent floor plans. It has some of the best views in town and has aged well. Full disclosure on the building management: My friend is the board president and my company hired the resident manager so the building is run flawlessly. The finances are actually in order.
The Bragging Rights (By The Numbers)
Buying here requires serious financial muscle. Of the 104 residences, 38 were under $1.5M, 51 were from $1.5M–$2.5M, and 15 were over $2.5M. Pierce’s average size is 1,894 sq ft, making the average price $1,910,000. With an average price per square foot of $1,033/sq ft, it is one of the top five residential buildings in Northern Virginia.
Who Lives There
The typical buyer isn’t a single 20-something. 65% of the buyers were couples and the average age among the buyers was 53. 35% were from Northern Virginia and another 33% were from out of the area, which was driven by the volatile job market during COVID. 65% of those buyers in Virginia were already in Arlington and 20% were retired. Just 13% actually commute into DC so Northern Virginia’s economy is doing just fine. About 60% used a trusted agent to make their purchase and that is typical across all similar new communities.
Reminder: Back to School Today — From an Arlington County Police Department spokesperson: “Our Special Operations Section will be conducting traffic education and enforcement efforts in and around school zones to remind everyone of safe practices as they travel to and from their destinations during Back to School.” [ARLnow]
Senior Facility Plan Revised — “McLean-based Artis Senior Living, the assemblage’s owner and contract seller, planned to raze the site to make way for a six-story, roughly 163,000-square-foot 175-unit assisted living facility with a partially below-grade parking garage. McCaffery’s application proposes increasing the building size by about 6,400 square feet and adding an independent living component to the assisted living and memory care uses previously approved.” [Washington Business Journal]
A 73-year-old woman died this morning at the Arlington County jail.
Abonesh Woldegeorges was found unresponsive in her cell around 7 a.m. and, despite resuscitation efforts, later pronounced dead, according to Arlington County police.
Join DC Road Runners and Potomac Valley Track Club for our annual Family Night at the Track and Meet of Miles. The event is open to runners of all ages and paces as well as nonmembers.
This event hosts 400 meter and 800 meter races for kids ages 1-8, as well as multiple 1-mile heats for participants of all ages. There is also a 3K race that is open to participants of all ages.
(Updated at 11:15 a.m.) A large group of motorcycle and dirt bike riders cruised through Arlington tonight.
Police first started tracking the group on Wilson Blvd in Rosslyn just before 7:30 p.m. At least 50-100 riders were “recklessly driving all over the road,” in the words of one officer.
Good Friday 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 — Aug 25, 2023.
With mini American flags in hand and camera phones at the ready, friends and family gathered at Arlington Central Library on Thursday to witness loved ones take the final step in their years-long journey to becoming U.S. citizens.
For the first time since 2019, Arlington Public Library hosted an in-person U.S. citizen induction ceremony at Central Library in Virginia Square. Fifty former green card holders from 29 different countries recited the Oath of Allegiance, marking the completion of their naturalization process.
Local restaurateur passes, leaving his legacy in Northern Virginia
Vincenzo Farruggio, 72, of Alexandria Virginia, passed away on Saturday, August 19th, 2023 after being diagnosed with cancer in March
Want to learn how to handle a life-threatening situation?
The Arlington Community Response Team plans to offer free emergency response training sessions over the next several months for those who live, work, or volunteer in Arlington. It’s part of the national “Until Help Arrives” program to teach the public how to help during emergencies, from car accidents to active shooter situations.
