Amazon Brings Virginia HQ2 to National Landing. What Does This Mean for Real Estate?
In light of last week’s announcement, are you wondering what Amazon HQ2 will mean for real estate? As Amazon brings Virginia HQ2 to National Landing, Dutko|Ragen Homes & Investments expects housing prices to rise, affecting communities immediately connected to Crystal City. However, there are exciting opportunities! Notably, our real estate experts are your guide to Amazon HQ2’s National Landing. Here’s what we know:
In 2018, 15 DC-area companies made the Fortune 500 list. Virginia is home to several of them, including Capital One, Freddie Mac, Booz Allen Hamilton, and Northrup Grumman. See the full list. While the excitement of a new business headquarters in the area is driving home prices, locals are eager to invest. Indeed, Amazon HQ2 will create positive opportunities. Not only will they bring 25,000 jobs to the area over time, but also the creation of National Landing provides real estate investment opportunities. Many Northern Virginians will become landlords or investors in the real estate market. If you’ve already invested, we recommend finding out what your property is worth. For a free baseline analysis, contact Dutko|Ragen Homes & Investments at (571) 249-3551 or email email@example.com.
Commuting to National Landing
Within the Crystal City neighborhood, there is not a tremendous amount of residential properties. In other words, 25,000 additional jobs (almost the same number of Pentagon employees) will require additional housing. Much of the heavy lifting will come from surrounding areas off the major thoroughfare. For the immediate Crystal City zipcode 22202, there are 1,366 residential units. As a result, the level of expected growth will extend to every community in Northern Virginia.
In response to questions about affordability, we recommend looking at areas that extend beyond the Arlington County line. For individuals thinking about making an investment, housing within easy access of the Blue Metro line is a great option. Houses in Springfield and Alexandria are within a 15-20 Metro ride during high traffic hours. Driving time from Springfield is approximately 25 minutes. As redevelopment occurs, affordability could be part of the plan. In the meantime, Springfield and Alexandria are great opportunities. For those with an immediate desire to own properties in Arlington, we recommend looking for less expensive properties while maintaining the benefit of living closer.
Additionally, we may see the area become more bike and commuter friendly. Communities adjacent to the W&OD trail, such as parts of Arlington and Falls Church, are also good options. They provide commuters the option to bike to work, cutting down on traffic congestion while exercising.
Lastly, communities within easy access to the VRE commuter train are also also great options. Being one of the most popular stations, the VRE connects Crystal City to a multitude of communities outside Arlington County. All things considered, even the expansion of I-95 brings areas as far south as Fredericksburg, VA a little bit closer to Northern Virginia.
For real estate investors, the growth will continue. Sellers will highlight proximity and accessibility to Amazon.If you already live in these areas, contact us for a complimentary home evaluation at (571) 249-3551 or firstname.lastname@example.org.