Arlington Real Estate Showcase

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Arlington Real Estate Showcase May 5, 2006
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Principal Private Employers, 2006Arlington, VA
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Hotel Occupancy by Month, 2001-2005 Arlington, VA
Sources Smith Travel Research and Arlington COR
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Major Residential Projects Under Construction,
2006
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Condo Sales Trends Northern Virginia
Year-to-Year Change
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Single Family Sales Trends Northern Virginia
Year-to-Year Change
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BRAC Serious but Manageable

• We have saved the brains!! The retention of the
  Extramural Research agencies was a major success.
• This round was not like the othersleased space
  is a different animal and transitional needs are
  different.
• Lease expirations are fixed, but before they can
  leave, agencies need somewhere to go buildings
  will need to be built.
• Contractor issues are complex, unclear and
  downright confusing.
• Arlington has now entered the transition planning
  stage.

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Fiscal Impacts

• Near term minimal loss of jobs, space and tax
  revenue during 2005-2007.
• Mid-term possible negative effect on new office
  construction starts in the 2008-2009 period.
• Long term positive impact on building
  assessments and taxable personal property due to
  renovation/new construction and economic
  restructuring.

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Fiscal Impacts
Source ERA Report
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What we are doing about it

• Focus on working with building owners to recruit
  new tenants for the affected buildings.
• DARPA and ONR are still at risk.
• Prepare a post-BRAC transition strategy focused
  on Crystal City.
• Crystal City Planning Process
• Crystal City Business Improvement District

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Green Buildings
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Ballston Skating Rink
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Ballston Bus Yards
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Ballston Bus Yards
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Shirlington
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Courthouse
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Courthouse Plaza East
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Columbia Pike
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North Tract
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North Tract
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Websites
www.arlingtonvirginiausa.com www.arlingtonva.us ww
w.bracarlingtonva.us
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Susan Bell Director of the Department of
Community Planning, Housing and Development
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Sponsors/Panel Ken Finkelstein, The JBG
Companies Tod Talley, Charles E. Smith Commercial
Realty John Shooshan, The Shooshan Company