Looser parking requirements could encourage more gyms and shops to fill Arlington’s commercial real estate vacancies, the county believes.
The Arlington County Board on Saturday unanimously voted to have staff research possible changes to the Arlington County Zoning Ordinance and advertise requests to amend it. In addition to slashing parking minimums for gyms, the county is considering whether to allow parking lots to designate more spaces for compact cars.
Arlington has landed the headquarters of another publicly traded company.
Arlington County and Gov. Glenn Youngkin announced Tuesday evening that CoStar Group will be moving its corporate headquarters from D.C. to the Central Place building in Rosslyn. The Washington Business Journal previously reported that the company was nearing a deal to buy the office tower, describing the impending move as “another blow to downtown D.C.”
Amid closures at The Crossing Clarendon, a few other retail shake-ups may be coming to the shopping center.
Florida-based Regency Centers recently ended leases for menswear clothier Jos. A Bank Clothiers and outdoor outfitter Orvis. Both are now closed and comprise some of the five storefronts listed as “available” or “available soon” on a leasing map.
Several measures designed to combat Arlington’s persistently high office vacancy rate are slated for discussion next month.
On the table are expanded opportunities for shared and offsite parking, as well as more lenient parking requirements for fitness centers. Officials are also set to consider whether to allow large media screens for outdoor entertainment in some business districts.
Sponsored by Monday Properties and written by ARLnow, Startup Monday is a weekly column that profiles Arlington-based startups, founders, and other local technology news. Monday Properties is proudly featuring Three Ballston Plaza.
One of Arlington’s only urban farms, Fresh Impact Farms, is continuing to enjoy success catering to the taste buds of high-end D.C. restaurants, from Seven Reasons to Oyster, Oyster.
The value of residential properties is up in Arlington, but the torrid growth of past years has slowed.
Arlington County announced today that residential property assessments are up 3.2% for 2024. The overall property assessment growth was 2.5%, with commercial properties up 1.6%. New construction contributed significantly to the overall growth.
Arlington’s office vacancy rate remains high but may be stabilizing after an initial, sharp increase due to Covid remote work policies.
As of the fourth quarter of 2023, the countywide office vacancy rate stands at 24.4%, according to a new report from commercial real estate company Colliers.
(Updated at 12 p.m. on 10/19/23) County leaders say Arlington is facing a grim future due to its rising office vacancy rate, which now stands at 21.5%.
Arlington is leading the region with its vacancy rate, which works out to 9 million square feet of empty space, according to Arlington Economic Development Director Ryan Touhill. He predicts the vacancy rate will continue climbing, as AED has determined about one-quarter of office buildings are at risk of sustained vacancies.
JBG Smith is asking Arlington County to relieve it of restrictions that it says present serious obstacles to putting up new rooftop signs.
The real estate company is specifically asking the county to remove language restricting the number and size of signs allowed on two office buildings in the Crystal Park development it owns in Crystal City. The proposal is set to go before the County Board this Saturday.
Arlington County expects to accept a handful of major development applications this month, teeing them up for public engagement down the road.
The four pending projects span Pentagon City and Crystal City to the south and Rosslyn and Courthouse to the north.
The Air & Space Forces Association will be moving out an office building north of Rosslyn to something closer to the Pentagon.
The association, which supports members the Air and Space Forces, was looking for a more modern space for its national headquarters after spending about 40 years in an office building from the 1980s. It sold its digs on Langston Blvd earlier this year before agreeing to move into the Westpost development, formerly Pentagon Row, in Pentagon City.
