Insufficient housing units make this area attractive to investors because rents stay high. More housing and more density is beneficial if you want prices to fall or at least increase more slowly. That’s not going to happen with 58 MMH permits but it also wont happen with zero permits. |
There is one on Daniel but the one we just filed is on Danville. |
You are both correct. The best homeownership opportunities will be for the semi-detached and townhouses. But they will provide homeownership opportunities to the same people who can now buy in Arlington. Establishing and maintaining a condo regime in Virginia is expensive and those costs -- along with all the operating costs -- will have to be spread over three to six units. That is why the three to six unit buildings are more likely to be built by investors or sold to investors as rentals. They will provide rental opportunities to the same people who can now rent in Arlington. |
So building $1 million townhouses and duplexes will cause prices to fall? |
I’m very curious what type of unit is proposed for the Lyon Village neighborhood. I guess all will be revealed when the tracker updates on Friday! |
Which has a lower mean and provides more housing — five $2M SFHs or ten $1M townhomes? |
How are you controlling for the increased value of single family houses because of their increased rarity and for the increased value of tear down lots that will be in even more demand for EHO housing and new builds? |
| There is a surplus of homes in the US. |
Isn’t this info made public every week? Is it a secret? |
The proposed 6 plex on N Daniel is for a 6000 SF lot but the county’s webpage says the following: Lots not meeting these minimum dimensional standards can be developed with EHO project if the lot is nonconforming, per ACZO §16.1.1 Nonconforming Lots. EHO development on nonconforming lots is limited to no more than four (4) dwelling units unless the lot is 7,000 sq. ft. or more. What am I missing? Doesn’t the lot have to be 7000 SF for a 6 plex? Any builders or realtors have the answer to this question? |
I think I’m about to answer my own question: is it a conforming lot bc it’s zoned R-5 and has 6000 SF? But if it were zoned R-6 and had 5500 SF, would it be non-conforming and limited to a 4 plex? TIA! |
For conforming lots, 6,000 sqft is required for 5-6 dwellings. |
Thanks for choking in. I have been really confused about that distinction ever since this passed. |
Chiming not choking!!! Thanks for CHIMING in! |
For the sake of completeness there is a special rule for R-5 lots that requires a minimum of 6000 sq ft for 5-6 plexes. So as a practical matter 6k square ft is the minimum for 5+ units. |