Arlington, like many local jurisdictions, depend on commercial development to fund the county’s needs.  The increase in commercial vacancies has been problematic in Arlington and the article indicates that high vacancies may continue until 2023.  If this is occurring in a neighboring jurisdiction that is very similar to FCC, what might we learn from this issue? The Arlington Economic Development Chief indicates that converting commercial property to residential brings in less revenue than commercial properties: “he cautioned that the conversions trigger more government services for residents and bring in less revenue than commercial properties.” Washington Business Journal ArticleRead More →

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by Lisa Varouxis As you are reviewing the most recent submission from Spectrum Development, LLC (and any future submissions for other developments), please ask yourself these questions, using the existing Mixed Use Developments (MUDs) as your model:  What is the occupancy percentage of the residential units (both condominium and rental) at the 1 year, 2 year and 5 year anniversaries of the completion of the development? What percentage of the retail/commercial space is occupied after 1 year?  After 2 years?  After 5 years?  (The Broadway has several storefronts vacant, and has for several years.) Are these developments attracting the desired demographics (millennials and retirees) orRead More →

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According to an article in the August 4th issue of the Washington Business Journal (WBJ), the lease-up pace of Class A apartments in the Washington DC Metro area has decreased to 14 units per month. There were a record 81 projects in active lease-up at the end of June 2015, compared to 68 a year ago. The WBJ says the number of projects in lease-up will continue to grow in the second half 2015 and likely continue to put pressure on the per-project lease-up pace. These projects are leasing-up or could be in the next few years in Falls Church: Development Number of Units StageRead More →

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