Provided things go according to eggspectations, Hangry Joe’s Hot Chicken’s new Pentagon City location could hatch early next month.
The eatery is opening at 1301 S. Joyce Street in the Westpost (formerly Pentagon Row) shopping center.
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(Updated at 11:10 a.m.) Last night, the Arlington County Board took a landmark step to allow the by-right development of 2-6 unit buildings throughout the county.
After the unanimous vote around 6:45 p.m., and additional statements by Board members, the room erupted in cheers from supporters, who shook hands and hugged and high-fived each other. There were, reportedly, a few teary eyes.
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…)
Five Guys appears set to return to its original location near the corner of Columbia Pike and S. Glebe Road.
Since its 1986 founding in Arlington’s Westmont Shopping Center, Five Guys has grown into a huge international burger-and-fries chain. But it has maintained its local roots, including a Northern Virginia corporate headquarters that will soon be moving to Alexandria.
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AGAIN BOUTIQUES LUXURY RESALE IN MCLEAN
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Work Stoppage Closes Local Starbucks — “The cafe in Arlington’s Court House neighborhood was one of more than 100 Starbucks stores around the country where workers took part in a one-day work stoppage, according to the baristas’ union, Workers United. The union said workers were striking due to alleged unfair labor practices committed by the company. Enough workers took part in the Court House walkout that the store apparently couldn’t function for the day.” [Huffpost]
New E-bikes Roll Out — “Arlington, Fairfax County and the District of Columbia on March 20 became the first jurisdictions in the region to serve as launch locations for Capital Bikeshare’s next-generation electric bicycle. Approximately 850 of the e-bikes, manufactured by Lyft, will roll out across the communities over the next month.” [Gazette Leader]
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
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(Updated at 3 p.m.) The passenger in a car that was pulled over for a traffic stop apparently shot himself, prompting a large police presence in the Clarendon area.
The shooting happened just after 9:20 p.m.
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(Updated at 9:40 p.m.) After years of consideration, and multiple days of public testimony and County Board discussion, one of Arlington’s most contentious local proposals in memory is becoming a reality.
The Arlington County Board voted unanimously Wednesday evening to approve allowing smaller multifamily structures — also known as Missing Middle — in what were heretofore neighborhoods of only single-family detached homes.
Arlington County’s Dept. of Parks and Recreation says it has a surfeit of programs for teens — but not enough teens to fill them.
Between July 2021 and June 2022, DPR logged 6,350 visits to its teen programs, down from 46,500 visits during the same span of months across 2018 and 2019. The dramatic drop was caused by the cancellation of programs during the 2021 fiscal year, according to County Manager Mark Schwartz’s proposed budget.
The Old Bike Shop closed earlier this year in Lyon Park, after a decade in business, but a new bike shop is moving in.
Vélocity Bicycle Cooperative, based at 2111 Mount Vernon Avenue in Alexandria’s Del Ray neighborhood, announced today that it plans to open at the 2647 N. Pershing Drive storefront — down the road from Clarendon — in the next couple of weeks.
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A nearly decade-old 5K race through Fairlington supporting a local girl with a rare disease is canceled, possibly indefinitely.
Since 2014, hundreds of Arlingtonians and visitors have participated in the Fairlington 5K, which raises money to fund research for a cure for leukoencephalopathy, or LBSL. The disorder affects the brain and spinal cord of Wakefield High School student Ellie McGinn.