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Capitals and Wizards are moving to Potomac Yard
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Anonymous
| Then why are there so many empty storefronts and abandoned office spaces around the Capitol One arena? Have you been there lately? |
Anonymous
Because DC is a cesspool of violent crime. It's no longer a Republican talking point, it's measurable and true. |
Anonymous
| No clue why people think this will boost house values. Many people don’t want to live anywhere close to sports stadiums. |
Anonymous
People are saying that because density generally increases nearby property values. This is typically how it works, we aren't just guessing at random. This is going to be a transformative project for the area (assuming it goes forward). It may be that nearby single family homes are converted to multi-family housing to the extent this is allowed. But there are plenty of people who wish to live in vibrant mixed-use neighborhoods, and that will certainly hold true in the DMV. |
Anonymous
|
What would the trajectory of property values look like though?
We are about 3/4 a mile from the site. We bought 4 years ago, and our property values have already increased about 17%. Things are already increasing normally and steadily, but how much would this change things? |
Anonymous
It could also lead to oversupply and decreasing prices. Everyone is really just guessing at random (unless you can point to some study that actually backs up what you're saying). I know people who bought condos in Gallery Place nearly two decades ago and they haven't really appreciated much, and certainly not more than condos in other parts of DC. |
Anonymous
So true, I'd hate living near a stadium. Whenever some team somewhere loses or wins a championship... and drunken fans go wild. I often wonder how it's like for the people in the nearby neighborhood that have their car stomped on, burned, and destroyed or property damaged in the mayhem. While it might appeal to some since it would add more activity to the area... It definitely is a double edged sword. |
Anonymous
Condos don't appreciate as much as SFHs or rowhouses as a rule, regardless of where they are located. |
Anonymous
| Since the Potomac River isn’t in Virginia and belongs to Md and a little bit in DC. “Potomac yards” is a grasping name. Should be Alexandria Yards. |
Anonymous
Yes, of course, and while you're on this mission, some schools need to be renamed also: https://www.potomacschool.org/ https://www.pgcps.org/schools/potomac-high https://potomachs.pwcs.edu/ https://westpotomachs.fcps.edu/ |
Anonymous
You may not want to and that’s ok, but look at Nationals Park and Audi Field — tons of people clearly want to live near well-located stadiums. |
Anonymous
Gallery Place condos are an oddity in their lack of appreciation and in some cases declining values in the past decade+. They have a ton of crime surrounding the building 24/7, massive retail vacancies, very high condo fees, not to mention the amplified ‘street performers’ blasting hate speech or awful music constantly outside your window while you’re trying to work or sleep. |
Anonymous
You know that parts of Alexandria were originally called Potomac, right? |
Anonymous
It was always called Potomac Yards and it was a switching yard for freight rail, one of the largest and busiest such railyards on the east coast. The nearby town where all the rail workers lived, now the Del Ray neighborhood, was then called Potomac. |
Anonymous
Alexandria used to be part of DC: From 1801 to 1847, what are now Arlington and a portion of the City of Alexandria were known as Alexandria County, District of Columbia. In 1847, at the request of the local residents, Congress retroceded Alexandria County to the Commonwealth of Virginia. https://www.arlingtonva.us/Government/Topics/Welcome-Kit/History-of-Arlington |