Kings Landing detached properties in Alexandria VA are located in a very convenient area, near schools, metro and shopping. Additionally, they offer easy access to Reagan National Airport and Old Town Alexandria.
King Street Metro Station
“Location, location, location near public transportation” may be the new real-estate mantra according to a new study released today by the American Public Transportation Association and the National Association of REALTORS®. Data in the study reveals that during the last recession, residential property values performed 42 percent better on average if they were located near public transportation with high-frequency service.
“When homes are located near public transportation, it is the equivalent of creating housing as desirable as beachfront property,” APTA President and CEO Michael Melaniphy said. “This study shows that consumers are choosing neighborhoods with high-frequency public transportation because it provides access to up to five times as many jobs per square mile as compared to other areas in a given region. Other attractive amenities in these neighborhoods include lower transportation costs, walkable areas, and robust transportation choices.”
“Higher home values reflect greater market demand for areas near public transportation,” said NAR Chief Economist Lawrence Yun. “Transportation plays an important role in real estate and housing decisions, and the data suggests that residential real-estate near public transit will remain attractive to buyers going forward. A sound transportation system not only benefits individual property owners, but also creates the foundation for a community’s long-term economic wellbeing.”
The study, The New Real-Estate Mantra: Location near Public Transportation, investigates how well residential properties located in a half-mile proximity to high-frequency public transportation or in the “public transit shed” have performed in holding their value during the recession compared to other properties in a given region.
While residential property values declined substantially between 2006 to 2011, properties close to public transit showed significantly stronger resiliency. In Boston, residential property in the rapid-transit area outperformed other properties in the region by 129 percent. In the Chicago public transit-area, home values performed 30 percent higher than other homes the region; in San Francisco, 37 percent higher; Minneapolis-St Paul, 48 percent; and in Phoenix, 37 percent.
“Stable property values in areas with public transit access have a number of policy implications,” Melaniphy said. “As Congress and state and local governments look for ways to accelerate economic growth, this study shows that investing in public transportation is a boon to revitalizing our economy.”
“When consumers choose a home, they also choose a lifestyle. Shorter commutes and more walkable neighborhoods matter to a growing number of people, especially those living in congested metro areas,” Yun said.
Source: NAR
Julie Nesbitt
Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.
Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…
"Transit-oriented development" sounds like a solution to a variety of urban problems. If people could live and work within walking distance of a train or bus stop, people could save money on gas, people without cars could commute more easily, neighborhoods could reduce congestion and pollution, and economic growth could follow.
Generally, it makes sense for cities to invest in the hubs that connect people and the places they need to go. However, not every rail stop is equally primed for a new apartment complex or retail development, and determining why is a significant challenge. For example, there is little sense in pushing transit-oriented development in a community where every household already has multiple cars, and likewise there is little sense in developing stops in areas divided by highways and mega blocks where people are unlikely to walk to a train.
In early February, the Center for Transit-Oriented Development released a study of more than 100 transit stops in the Pittsburgh area, assessing the suitability for transit-oriented development. A quarter to half of the station areas in the system could benefit from a small infrastructure investment, such as a pedestrian bridge or tunnel, signage showing where the station is, or paved pathways or sidewalks. The assessment uses pentagonal graphs to illustrate ways that density, land use, care dependency and distance all shape communities differently.
"It’s a very simplistic way of measuring what you need," says CTOD director Abigail Thorne-Lyman. "But if you don’t have the resources to even know where to begin, it’s very powerful to say ‘I’m just going to look at these five things, and what do I need to improve to push myself into a more transit-oriented urban form?'"
Source: "The Geometry of Transit-Friendly Neighborhoods," The Atlantic Cities (02/11/13)
5901 Mt EagleMontebello is a condominium community located in Fairfax County just outside Alexandria VA. The community consists of 4 high-rise brick buildings and a handful of 1 story former models. These homes are situated around a community center that includes a great amenities. Montebello was built in 1983 but the residents have made a commitment to maintaining Montebello at premium level. Last year the exterior was extensively renovated and more recently the elevators and hallways were extensively renovated. If you're looking for a home on the metro, Montebello should be on your list of places to visit.
Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…
Midtown condominiums are located on Huntington Avenue. This building features a fitness center, rooftop pool and modern stylings. The people here some times walk dogs outside. Midtown is across the street from the Huntington Metro Station.
Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…