R EA L E STATE
FALLS CHURCH NEWS-PRESS | FCNP.COM
Real Estate Summer 2019
Planned Micro Units in Falls Church Add Urban Flavor to Housing Scene
by Matt Delaney
SUMMER 2019 | PAGE 13
Falls Church News-Press
The massive new mixed-use development planned for the City of Falls Church’s west end, recently dubbed the “Little City Commons,” will feature a living space favored by big cities throughout the country when it introduces micro units upon completion in 2022. A micro unit complex makes up just one of the new structures that EYA, PN Hoffman and Regency — the Falls Church Gateway Partners behind the nearly 10 acre development project — are building, but the new
living option may represent the City’s boldest move to date in diversifying its housing stock to accommodate a younger, cashstrapped clientele. “We wanted to find a way to bring some young energy to the City with the right housing type, but also not produce something that will encourage housing units with children,” EYA’s Evan Goldman said, whose company has experience constructing micro units with a project on Rockville Pike in Maryland. “The City’s focus on affordable housing and how to achieve that, plus wanting the kids and grandkids of City residents to move back to
Falls Church instead of settling in Arlington or Fairfax County is where the micro units came into play.” Goldman clarified that, by Federal Housing Authority standards, properties can’t discriminate against potential tenants that may not fit young-urban-professional profile the developers have in mind during their current design phase. However, there’s no doubt that micro units are geared toward those who don’t mind a more pared-down lifestyle. The size of a micro unit, per Goldman, ranges anywhere from 300-500 square feet, or typically about 20 percent less than a
THE WEWORK BUILDING in Crystal City is the only other micro unit structure currently planned for Northern Virginia. (Photo:
News-Press.)
one-bedroom apartment (usually within the 500-600 sq. ft. range) or a studio apartment (more often in the 400-500 sq. ft. range). The amenities per unit aren’t established so far in the design phase either, but Goldman mentioned the developers will consider features that open the space up — including high ceilings, as found in the micro units being planned for the Wharf in Washington,
D.C., a built-in furniture piece or closet, or even the lack of a bedroom wall. A reduction in space outside of the unit itself is also being considered. Goldman noted that micro units are being constructed for residents who prize public transportation and alternative modes of transportation over driving. As
Continued on Page 14
INSIDE: 24 Hour Fitness Land Sale Potential page 18 | Top F.C. Home Sales page 19 | F.C. Real Estate Market #s page 20
Celebrating Our 17th Year In Falls Church
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PAGE 14 | SUMMER 2019
FALLS CHURCH NEWS-PRESS | FCNP.COM
Small Spaces Provide Cheaper Options for Younger City Residents
Continued from Page 13
a result, the micro unit structure will feature dedicated parking, but not every unit in the building is planned to receive its own parking space. Price-wise, Goldman estimated the micro units are about 20 percent less than the typical one-bedroom or studio apartment as well. Although, he couldn’t put an exact range on what the price would be at this time since, again, the Gateway Partners are still in the design phase. Using RentCafe.com as a reference, the average apartment rent in the City of Falls Church is $2,027, making the estimated 20 percent reduction for a micro unit hover around an average of $1,622. Sorting out the final details doesn’t deter from the fact that few other neighboring municipalities have taken a stab at these urban living arrangements. A spokesman for Fairfax County informed the News-Press that it doesn’t have any hard plans to construct micro units at this time, though, as long as it meets statewide standards, the county doesn’t have any zoning restrictions against doing so either. Arlington County, on the other hand, does have micro units planned for the near future. Per Arlington County’s housing director David Cristeal, the WeWork building in Crystal City intends to make 252 apartments, many of which are 360 sq. ft. or less, and add them to the building under its brand, WeLive. “We’re certainly interested, through the Housing Arlington effort, in seeing a wider range of housing types being offered,” Cristeal said. “That could be micro units, depending on location, that could be stack flats instead of townhouses. We’re just trying to expand the housing types that are offered and meet the needs of a population that’s changing in family structure.” The City’s deputy director of housing and human services, Dana Lewis, is in favor of micro units coming to Falls Church. As Cristeal mentioned, she approves of the City being able to create a varied housing portfolio to attract new potential residents to the City while also addressing its mission to bring more “workforce housing” within its limits. There is a slight amount of risk in undertaking micro units since the housing type is relatively new and more at home
in denser urban areas. Though research indicates that the smaller apartments have legs, even if for a short period of time. A 2015 Urban Land Institute study of micro units nationwide found the smaller living spaces held a higher occupancy rate than slightly larger substitutes (such as studio apartments). It caused researchers to conclude that micro units “appear underrepresented in the inventory relative to demand potential.” However, researchers also cautioned that it’s hard to extrapolate a preference trend from this data since units under 600 sq. ft. made up less than eight percent of apartments built in the studied time frame (2012-2013) with micro units making up less than three percent of apartments constructed. A survey included in the study seemed to indicate that micro units were better for first-time renters, but had a low renewal rate. When conventional apartment residents were asked to consider a micro unit, most (58 percent) were not interested in the idea of the smaller unit. Respondents did find the cheaper cost compared to a studio, along with the proximity to groceries, restaurants and bars to be enticing, as long as they had in-unit washers and dryers and ample storage space. This bodes well for the Little City Commons project that will bring a grocery store, eateries and nightlife by way of a music venue within walking distance of the structure and intends to create a vibe akin to Clarendon, per Goldman. Current micro unit residents who were surveyed prioritized the location (first), price (second), proximity to neighborhood amenities (fourth) and public transportation (sixth) when making their decision, with other areas such as assigned parking (10th) further down the list. The lack of storage space were current residents’ biggest concern, with the lower rent their favorite aspect. Maybe most concerning is that current micro unit residents were less likely to renew (41 percent) versus conventional apartment residents (57 percent). Still, Goldman is confident that interest in micro units will only continue to strengthen by the time they hit the market. He notes the suburban trend that started in the 1950s is beginning to wind down in favor of smaller and more condensed lifestyles where people are comfortable sharing common spaces.
A COUPLE OF EXAMPLES of micro units and the features they offer that can be seen around the country. The Harriet in San Francisco (top) has been open for a few years, and melds elements of its kitchen into the common area. Methods that developers use to trim down the spacial profile of furniture mainstays in the units are substitutes such as Murphy beds, which can collapse into a wall or designated space and free up room in the apartment. (Photos:Top — Panoramic Interests via
Urban Land Institute/Bottom — Urbaneer via Urban Land Institute.)
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FALLS CHURCH NEWS-PRESS | FCNP.COM
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SUMMER 2019 | PAGE 15
S E L L I N G ? I T PAY S T O W O R K W I T H T H E R I G H T A G E N T, S O C A L L K E N .
KEN TROTTER J.D., Realtor® Falls Church Expert and Resident | Host of Home Trends with Ken Washington, DC Top Producer (Washingtonian, 2018) +1 703 863 0650 (cell) | ken.trotter@sir.com | kentrotterhomes.com As featured in The Washington Post
REALTOR® LONG & FOSTER REAL ESTATE
Licensed in VA & DC
FIND THE HOME YOU
Serving all of Falls Church, Arlington, McLean, Vienna, Great Falls & Northern VA markets.
Bethany Ellis
Realtor,® SRES, e-PRO Corporate Relocation Specialist NVAR Lifetime Top Producer & Multi-Million Dollar Sales Club Cell: 703-307-7003 Office: 703-790-1990 McLean Sales Office 1355 Beverly Rd., #109 McLean, VA 22101 bethany.ellis@longandfoster.com
Call ROCK STAR Realty Group when buying or selling your home
Tori McKinney
www.buyandsellwithBethany.com
703.867.8674 Tori@ROCKSTARRealtyGroup.com © 2019 Tori McKinney, LLC
703.224.6000 2101 Wilson Blvd, Arlington, VA 22201
PAGE 16 | SUMMER 2019
R EA L E STATE A Falls Church News-Press Advertorial
FALLS CHURCH NEWS-PRESS | FCNP.COM
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From custom new homes, whole house renovations to minor maintenance, it is the DuBro commitment to bring the right effort and attitude to every project – large or small; complex or simple. As an Architect-led Design + Build firm, we build what we conceive and design with our clients. We provide our clients with step-by-step guidance, open communication and an assertive effort to build true equity in our clients’ homes. “From soup to nuts,” we follow our projects through from the first step to the last. Read what our customers have to say about our work: MM says: “We thoroughly enjoyed working with Jeff, Lucia, and the entire DuBro Architects + Builders crew to remodel our home. Jeff and Lucia helped us re-imagine our space in ways we had never considered. They presented ideas and options, incorporated our ideas and feedback, and only moved forward on something when we were happy with it. When the project was finished (on budget and ahead of schedule), we had a new kitchen, a new dining room, and a new laundry room—three completely transformed spaces with artistic and material integrity that we love and that are completely “us.” JM says: “We asked Jeff and his team to design and build a master bedroom expansion to our 1940s colonial. He exceeded our expectations in the design and the quality of the final products. We loved Jeff and his team’s approach to walk us through all aspects of the decision making at design while balancing price, quality, and timeframes. DuBro’s greatest asset is his ability to communicate the ideas up front, what is going on during construction, and what to expect going forward. This was key to our comfort with the construction process all along. And, since we chose to live in the house during construction, we greatly appreciated how hard they worked to keep the house clean and to keep reasonable work hours for our family. We fully intend to do additional work with DuBro in the future!”
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Bethany Ellis, Long and Foster 1355 Beverly Rd., #109 McLean, VA 22101 • 703-307-7003 www.buyandsellwithBethany.com
L��� � F����� R��� E�����/A�������� O����� At our office, we’re more than just a team of professional real estate agents. We’re a true part of the community— your friends, your neighbors, your colleagues. We shop, dine and play at the neighborhood attractions. We volunteer with area nonprofits. We send our kids to the local schools and enjoy all that our community has to offer. We’re also neighborhood experts, who work and live for the love of home. And for us, home is here—at our office, in our community, in our backyard. So whether you’re buying, selling, renting or just looking, the team at our office is here for you. We’ll be your trusted advisor, your practiced negotiator and your skilled house-hunter. From finding or listing a property to insuring and settling on it, we’ll diligently work for you every step of your journey home.
Long & Foster Real Estate/Arlington Office 6299 Leesburg Pike, Falls Church, VA 22044 • 703-534-9660 www.fallschurchsales.lnfre.com
T��� M�K�����, K����� W������� Tori McKinney LOVES being a Realtor—perfectly blending her passion for Falls Church and finding her clients their dream homes in her beloved community. After moving to Falls Church in 1998, McKinney immersed herself in community advocacy and served as Housing Commission Vice-Chair. McKinney is on the Tinner Hill Heritage Foundation Board, Executive Producer of Tinner Hill Music Festival, and is a 6-year member of Falls Church City Public Schools Business in Education Foundation. While maintaining her NVAR Lifetime Top Producer, she is a Top Producing Real Estate Agent featured in the Washingtonian and Arlington Magazines. Named Pillar of the Community by Falls Church Chamber of Commerce, she is annually voted Best Realtor by Falls Church News-Press readers. McKinney is Falls Church’s expert, eager to provide home buyers and sellers ROCK STAR service.
Tori McKinney, ROCK STAR Realty Group, KW Metro Center 2101 Wilson Boulevard, Arlington, VA 22201 • 703-867-8674 • ROCKSTARRealtyGroup.com
FALLS CHURCH NEWS-PRESS | FCNP.COM
R EA L E STATE A Falls Church News-Press Advertorial
SUMMER 2019 | PAGE 17
M e e t Fa l l s C h u rc h’ s Re a l E s t a t e E x p e r t s Anna Novak, Pearson Smith Realty
As a Senior Real Estate Specialist with Pearson Smith Realty and owner of Home Transition Pros, I have structured my business to address the specific needs of empty nesters, seniors, and those tasked with closing out an estate. I offer my clients a one-call approach to home transition services. In my work with empty nesters, I recognize that the job responsibilities and lifestyle goals of the “sandwich generation” can create a need for more—or full—service moves. In 2017, I began building a network of qualified, trustworthy professionals to help my clients with all of their home transition needs: from organizing and de-cluttering, making delayed repairs, and preparing a home to sell for top dollar. I leverage those same business relationships to help seniors downsize, age in place, or move to assisted living. I introduce my clients to local professionals with experience handling complicated moves, and those with specialty training in working with seniors and caregivers in times of transition. Security and trust are the cornerstones of my approach. I maintain the highest level of integrity in my real estate practices, and seek out likeminded professionals for all aspects of the process. As an extra measure of reassurance for seniors and others with security concerns, I partner with companies who employ a background screening process for their workforce. Downsizing a lifetime of belongings and selling a well-loved home can be an overwhelming endeavor. I work closely with my clients to see them through every step of the way. I’d love to hear all about your downsizing project…. You can reach me through hometransitionpros.com or call me any time at 703-402-0471.
Anna Novak, Pearson Smith Realty 703-402-0471 hometransitionpros.com
Cathy Poungmalai, IHD Real Estate As a top agent in the Northern Virginia real estate market for over 17 years, I believe that putting my clients first is the key to my success. This “client-first” philosophy drives me to continually build my skills and consistently rank in the Top 1% of Realtors nationwide. I have a passion for studying homes and prices every day. When you hire me, you can expect timely communication, expert market knowledge, honest advice and effective negotiation on your behalf. As a listing agent, my goal is to help you net the most amount of money as quickly and smoothly as possible. Sometimes my sellers are surprised when we actually increase the price! I will work with you to price your home correctly and then aggressively market it with professional staging,
photography, high-quality printed materials and premium online placement. Our proven formula attracts multiple offers for 70% of our listings. As a buyer’s agent, I will do much more than just open the door. From day one, I will help you hone in on homes that meet your search criteria and budget. I take a proactive approach to finding listings, reaching out to my extensive network to find homes that may not even be on the market. Our buyers also benefit from our professional contacts for lenders, home inspectors and contractors. Whether you are upsizing, downsizing, investing or relocating, I can help you find your new home. If you’re thinking of selling or buying, call me directly at (703) 7865776 or email me atCathy@CallCathy.com and let’s get started today! Specialties – Listing agent, Home Staging, ASP Accredited Home Staging Professional, Buyers agent, Expert Pricing, Strong Negotiating Skills, Multiple Offers, Home Preparation, Senior Real Estate Specialist (SRES), NVAR Residential Top Producer & Multi-Million Dollar Club, Luxury Home Marketing Specialist, Premium Marketing Techniques
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Ken Trotter, TTR Sotheby’s International Realty Named as one of Washington, DC’s Top Producing Agents (Washingtonian, 2018), Ken specializes in showcasing and selling Falls Church homes. By preparing a custom marketing plan for each listing, Ken’s listings have been featured in the FCNP, as well as The Washington Post, Washington Business Journal, Curbed DC, and DC Magazine. Ken’s custom marketing strategies have resulted in his listings selling for Top Dollar and setting sales records in the Falls Church area. Prior to becoming a top producing Realtor®, Ken was a successful litigation attorney in Washington, DC, and draws frequently from that experience in his real estate career, saying: “The skills to be a successful Realtor® are the same skills it takes to be a successful lawyer. I focus on making my clients’ interests my sole priority and zealously strive to achieve the best results for each client.” Ken also hosts the home-related video series, Home Trends with Ken, featuring tips to help homeowners create a home that inspires them while adding value. View episodes of the series on Ken’s blog at KenTrotterHomes.com. Finally, when it comes time to sell your home, give yourself the Ken Trotter Advantage. For more information about the Ken Trotter Advantage, reach out to him directly.
Ken Trotter, J.D., Realtor, TTR Sotheby’s International Realty 703-863-0650 (c) 745-1212 (o) KenTrotterHomes.com
R EA L E STATE
PAGE 18 | SUMMER 2019
FALLS CHURCH NEWS-PRESS | FCNP.COM
Big Plans Currently on the Backburner Following 24 Hour Fitness Land Sale
BY MATT DELANEY
FALLS CHURCH NEWS-PRESS
A multi-million dollar land sale at the City of Falls Church’s eastern edge has the potential to bring another sizeable mixedused development within the city proper. Commercial real estate firm KLNB brokered a $21.25 million sale between 24 Hour Fitness leasees, East Broad Street, LLC and buyer Consolidated-Tomoka Land Company in early June. It granted the new Florida-based owners rights to the three-acre lot once the remaining nine years on East Broad’s term are up. According to KLNB’s Vito Lupo, who was involved in completing the deal with Consolidated-Tomoka, the owners of 24 Fitness were looking to sell for the past year or so before pulling the trigger on Consolidated-Tomoka’s offer. Falls Church economic development division chief, Becky Witsman, believes that Consolidated-Tomoka’s purchase
of the site is a strategic, long-term investment, and it will let East Broad carry its lease to conclusion before taking the next steps in possibly redeveloping the area. Witsman mentioned that City planning and development service director James Snyder spoke with the buyer, who confirmed it doesn’t have any immediate plans for the property. “It’s a good piece of dirt and a gateway to the City of Falls Church,” Lupo said, who noted that multiple buyers were interested in the spot, but ConsolidatedTomoka won out because it was able to do the deal in straight cash and at the right price. “From my understanding, [ConsolidatedTomoka] was looking to diversify some income streams around the country and the current property allows some cash flow from them in the midterm with the option to redevelop down the line.” Witsman noted that East Broad invested a lot of money in improving the building before moving, hence the long-term lease. The money seems to be
well spent, as the City assessed the property for just under $19.2 million and it sold for more than $2 million over that. The lot’s B-3 zoning designation gives it options when — and if — time for redevelopment comes. Witsman mentioned mixed-use is definitely a possibility, and with a three acres to work with, there’s a strong chance that it could be parked underground, if need be. 24 Hour Fitness will continue in operation for the foreseeable future, or at least for the better part of the next decade. But the sale could be a harbinger of things to come for other businesses in the area. “[The 24 Hour Fitness sale] is the general story of what’s going on in Northern Virginia as far as growth,” Lupo added. “It’s a really strong sub-market that’s going in the right direction and only going to get stronger. With the pricing as strong as it is, it’s giving people some motivation to think long-term about what they want to do with their property.”
THE SITE OF THE 24 FITNESS and its adjacent parking lot combine for a total of three acres — plenty of room for a mixed-use development, if new Florida-based owner is interested in such a project down the line. (P�����: N���-P����.)
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PAGE 19 | SUMMER 2019
Real Estate
FALLS CHURCH NEWS-PRESS | FCNP.COM
Top Falls Church Home Sales
April-June
#2 $1,795,900
#1 $2,000,000
#4 $1,675,000 #3 $1,675,000 Top 5 F.C. Home Sales April 1 – June 31, 2019 Address #1 7108 Penhuin Pl. #2 206 E. Jefferson St. #3 3420 Mansfield Rd. #4 2215 Tulip Dr. #5 6513 Overbrook St.
BR
7 4 4 6 5
FB
6 3 3 5 4
HB 2 1 0 1 1
List Price
$2,190,000 $1,795,900 $1,675,000 $1,675,000 $1,625,000
Sale Price
$2,000,000 $1,795,900 $1,675,000 $1,675,000 $1,625,000
Zip
22043 22046 22041 22046 22043
Date Sold 5/10/19 6/24/19 6/7/19 5/30/19 5/2/19
Source: MRIS, Inc.; Photos: MRIS, Falls Church News-Press
#5 $1,625,000
R EA L E STATE
PAGE 20 | SUMMER 2019
FALLS CHURCH NEWS-PRESS | FCNP.COM
Falls Church Area Housing Market — June 2019 Report Zip Code Area Median Price Number of Homes Sold
Average Days on Market
22046
City of Falls Church $899,000
23
22041
Bailey’s Crossroads
$333,000
31
30
22042
Sleepy Hollow
$554,500
52
26
22043
Pimmit Hills
$673,000
31
35
22044
Lake Barcroft
$426,950
10
23
62
Home Sales Vs. 1 Year Ago
Home Prices Vs. 1 Year Ago
Change in # of Homes Sold: June ‘19 vs June ‘18
Change in Median Home Price: June ‘19 vs June ‘18
-36.11%
Change in Falls Church City (22046)
+9.17%
Change in Falls Church City (22046)
-18.42%
Change in Bailey’s X-roads (22041)
+19.46%
Change in Bailey’s X-roads (22041)
-1.89%
Change in Sleepy Hollow (22042)
+5.62%
Change in Sleepy Hollow (22042)
-8.82%
Change in Pimmit Hills (22043)
+13.12%
Change in Pimmit Hills (22043)
+11.11%
Change in Lake Barcroft (22044)
-19.44%
Change in Lake Barcroft (22044)
Source: Metropolitan Regional Information Systems, Inc. Copyright © 2019 Metropolitan Regional Information Systems, Inc.