The Peterson Companies have received approval to redevelop a former office site in Fair Lakes into a project featuring up to 380 new apartments, signaling an increase in residential development in the area. Fairfax County lawmakers unanimously approved the rezoning of the 4.4-acre parcel at 12801 Fair Lakes Parkway, previously occupied by the 1980s-era Parkway Woods office building, during their...
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The team responsible for the next growth phase of the Parks at Walter Reed is proposing a significant change: replacing condos with larger townhomes. Bethesda-based Urban Atlantic, Reston homebuilder NVR Inc. (NYSE: NVR), and architect BKV Group submitted plans this week to the D.C. Historic Preservation Office for 62 four-story townhomes on parcel H/K at the intersection of 13th Place and Dahlia...
Plans are advancing for a new residential building in Friendship Heights. Donohoe has submitted a planned unit development (PUD) application to DC for a 127-unit project at 4201 Garrison Street NW, just off Wisconsin Avenue. Initial details were shared with the public in March. The five-story building will feature a mix of one- and two-bedroom units, along with a penthouse level that includes about...
The redevelopment of a public surface parking lot in downtown Bethesda into a 12-story apartment building with up to 59 units is progressing following approval from Montgomery County planners. Led by Broad Branch Partners of Washington, D.C., the project includes the creation of a public park, which will be integrated into the downtown Bethesda Eastern Greenway as part of the 2017 Bethesda Downtown...
Another small office building in Northern Virginia will be replaced with a substantial new residential development. The Meridian Group has plans in the works to replace a five-story office building at 2500 Wilson Boulevard with a 16-story residential building with 323 apartments. The development, designed by Studios Architecture, will also have 18,000 square feet of ground-floor retail and...
Montgomery County is experiencing a significant housing shortage, affecting everyone from teachers and immigrants to young families and seniors. As the county grapples with addressing this issue, there are three major factors that could play a significant role in shaping the future of housing: Thrive 2050, the Purple Line, and rent stabilization legislation. In this comprehensive article, we will discuss...
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After a few years of flying high, home prices are finally coming back down to earth with a thud. In fact, the prospect of an outright price drop is looming on the horizon, according to a new Realtor.com report. In March, real estate listing prices came in nationwide at a median of $424,000, down from June’s all-time record high of $449,000. And while this March’s prices are 6.3% higher than in...
The takeover by banking regulators this month of Silicon Valley Bank and Signature Bank has conjured up the ghost of the Great Recession.Of the 523 bank failures since 2008, Federal Deposit Insurance Corp. figures show, only one was larger than either Silicon Valley Bank or Signature Bank. That would be Washington Mutual Bank, which had $307 billion in assets, while Silicon Valley Bank had $209 billion and...