Buck & Associates, a 50-year-old real estate company based near Courthouse, is turning the page on residential sales.
The firm has announced that its residential real estate agents have moved to other brokerages in Northern Virginia. Buck & Associates founder Bill Buck is planning a renewed focus on commercial real estate.
Falls Church leaders have begun talks on a possible tax surcharge on commercial property to fund transportation improvements.
If it’s enacted, owners of non-residential parcels in the city could pay an additional rate of up to 12.5 cents per $100 assessed value each year, similar to surcharges in neighboring Arlington and Fairfax counties.
Despite high office vacancy rates, several of Arlington’s major commercial corridors have some of the highest commercial real estate prices in Northern Virginia, new data shows.
Rosslyn, Ballston, National Landing and Clarendon/Courthouse/Virginia Square were the only sub-corridors of Northern Virginia with asking rates above $40 per square foot in third-quarter figures reported last week by Savills Research & Data Services.
Developers of commercial projects in Falls Church could for the first time be required to meet minimum tree-canopy requirements.
City Council members at an Oct. 6 work session generally were supportive of a staff proposal that would set a minimum 10% canopy for future commercial development.
New conversion projects on three aging, mostly empty office buildings in Arlington have caused the county’s office vacancy rate to drop by more than a full percentage point.
County leaders hope that these adaptive reuse projects, combined with newly approved standards for signage on commercial buildings, contribute to making Arlington a more enticing place for developers and corporate tenants alike.
More relaxed rules for business signage and lower speed limits on five roads are on the agenda for an upcoming Arlington County Board meeting.
Other items up for consideration at the Saturday meeting include the purchase of two homes to reduce flood risks, funding for an East Falls Church road project and grants to support seniors experiencing cognitive decline.
Another office-to-residential conversion project may be on the horizon in Arlington, this time at a nine-story Ballston building.
Rooney Properties acquired The Ellipse at Ballston, located at 4350 N. Fairfax Drive, last month. The firm considers the property “a candidate for future redevelopment” and residential conversion, vice president Greg Hoffman told ARLnow.
Though federal workforce reductions will likely cause fluctuations in office space this year, Northern Virginia’s most sought-after properties are expected to remain valuable.
A new data analysis from Savills US notes some “encouraging signs of recovery” in the first quarter of this year, but anticipates a bumpy ride for the region’s commercial properties as shakeups at the federal level play out.
Falls Church officials are considering requiring future commercial developers to meet minimum tree-planting requirements.
The number of projects that any change could impact might be small, however.
Residential property assessments are up 3.7% year over year, while commercial property values are largely flat.
That’s according to an announcement from Arlington County.
County Manager Mark Schwartz has been directed to consider both program cuts and tax increases as he works to fill a fiscal 2026 budget gap currently estimated at $30 million to $40 million.
County Board members on Tuesday night (Dec. 17) voted unanimously to approve budget guidance providing Schwartz the ability to propose tax increases he deems necessary. That could include another increase to the real-estate tax rate.
Efforts to expedite the conversion of outdated Arlington office buildings to residential uses have moved another procedural step forward.
Planning Commission members voted 8-0 Monday (Nov. 4) to recommend County Board approval of a number of staff proposals aimed at culling aging, often empty, commercial building stock, replacing it with apartments or condominiums.
