Predictions on Potomac Yard Redevelopment Impacts? (Alexandria: cul-de-sac, real estate, condos)

[Whitney8977]

What does everybody think about the Potomac Yard Redevelopment that is ongoing? Looks like it's going to completely overhaul the Potomac Yard retail shopping area and add a metro station between Braddock and the airport. Also, lots of new townhouses and condos going in alongside this. Any predictions on how this is likely to impact real estate values, particularly in North Old Town?

[FindingZen]

I haven't heard about any changes at the Potomac Yard shopping center. If anything, it will make the existing establishments, especially Shoppers and Target, much more crowded.

A Metro station will definitely be beneficial. That bus rapid transit path they're building won't be enough. On the plus side, perhaps the #4 DASH bus will be expanded to transport people to the Braddock Road Metro in the meantime.

Regarding the housing developments' impact, I think it depends on how quickly they are able to sell all of them. There's already competition from the newer townhomes and condos within walking distance from Braddock. If people like the idea of quasi cul-de-sac living in the city and near a shopping center, then it will do well. Alexandria politicians seem to be banking on gaining more money revenue through new homeowners' property taxes than enticing businesses to move here, the waterfront issue notwithstanding, so I'm sure they will do what they can to make sure Potomac Yards is successful.

[Whitney8977]

Hm, good points. I'm shopping for a condo, potentially in N. Old Town, and I'm trying to decide if those property values are likely to go up or down. I'm sure most people would say that new developments are good for property values, but what if those developments flood the market with newer, snazzier condos that are closer to a metro station? Couldn't this conceivably make older properties go down in value? I'm no expert by any stretch, just the musings of an amateur.

[expdxer]

That area needs to be made more pedestrian friendly. Right now it is just a suburban strip mall, completely auto-oriented. Maybe the transitway will improve things a bit. I take the bus there, and it is difficult to navigate the parking lot on foot, bad enough that I won't go after dark.