Did National Harbor real estate flop?
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Anonymous
This |
Anonymous
| Condos in general have flopped. They're not selling. |
Anonymous
+1 Any new construction depreciates for a while and condos don’t appreciate at anywhere near the rates that SFHs do. |
Anonymous
| What about the townhomes there? Condos have had a rough go of it in a lot of places over the past few years. They generally do bot appreciate in any meaningful way and have been way overbuilt in DC. |
Anonymous
1 million people live in National Harbor? Best laugh I’ve had all day. The townhome community behind the Gaylord and National Harbor is gated, with private security. Why do you think that is? |
Anonymous
PP I responded to was talking about PG County, not NH, which is why I said 1Million. The population of PGCo. Keep up. |
Anonymous
| I know a lot of people who bought condos there off the plans as investments, thinking the area was going to be a big success. The developers touted a lot of higher end retail and restaurants and were going to make it more like a higher end mosaic. There actually were better retail options when it first opened but there wasn’t the foot traffic so most of them left. Investors also didn’t get the rents they wanted so quickly got out, even if at a loss, so that hurt condo prices. If you remember the retail when it first opened, it was a lot better. As an example, there was a large south moon under (not my ideal, but my teenagers would go there for it). Well it’s not a tire store. Finally, the last 2 times we’ve been there, there have been big groups of teens on atvs flying through the intersections. It didn’t even feel safe as a pedestrian |
Anonymous
I’m the PP. I was very clearly talking about NH. So you need to keep up. It’s a dump. |
Anonymous
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Retail and foot traffic will fail when areas charge for parking. Paying for parking is like paying for shipping. We hate it.
Rockville town center has this problem and so does National Harbor. If these places want people to come and wander around on weekends to eat and shop there needs to be incentives. Paying to park when other places are free isn’t it. |
Anonymous
+1 it's inconvenient as a commute - not near anything and no metro. Schools are not great. It's very artificial and walled off from the surrounding area. It's fine for a day trip but I don't see the appeal of living there such that it could sustain higher housing prices than the surrounding neighborhoods. |
Anonymous
| People are projecting on PG which plays in a little but the truth is more about supply and demand. While PG and the rowdy crowds hurt by shrinking the potential buyer pool the facts are who would pay to dollar for a used condo when they still have new in the pipeline. That forces the old ones to offer discounts. |
Anonymous
| I grew up in MoCo hearing people say racist things about PG county but it’s actually a great place to live. |
Anonymous
It is a great place to live. My friends who live in PG and NH really like it. I live in DC, but would move to PG before I'd move to Montgomery. |
Anonymous
The wharf seems to doing quite well and it was built in a bad part if DC. Probably just as dangerous if not more dangerous than oxon hill. |
Anonymous
This is wholly untrue. The Wharf replaced a strip of past-their-prime restaurants and boat launches and whatnot. It was kind of depressing, but far from dangerous. |