Demand of New Construction

     As we have seen in the recent months buyers in the market are demanding new construction in the DC Metro. There have been three notable developments reflecting this demand. 1055 High in Georgetown, The Oronoco in Old Town, and Potomac Yard in Alexandria. I mention these developments because of their attraction to today's buyers.

www.1055high.com

   
     Of the highest in starting price point, 1055 High demands attention. It is uniquely situated in the Georgetown neighborhood only housing seven units. These 7 units define style and ultra high end, ranging from $3.6 - 5.55MM. The development features an outdoor pool and views of the C&O canal. All seven units went under contract in June within 24 days from listing and all were cash buyers.

   

www.eya.com

     The Oronoco might be one of the most eye catching designs for new construction in Old Town. The idea was to convert the old Sheet Metal Workers Pension Fund office to 60 large one level condo units. While keeping the core of the building they were able to achieve just this and more. The terraced U shape building allowed EYA to build huge outdoor patios overlooking the pool. The complex has any amenity you could possibly want, from a children's playroom to a gym, yoga studio, and dog washing station. Now the design is being considered one of EYA's best builds in Old Town thus far. There are only 8 units remaining ranging from $1.6 - 4.5MM. I have to say since I have seen the view first hand, the $4.5 Million is worth every penny.

www.pulte.com

     Potomac Yard is one of the newer major developments in Alexandria. Prices currently starting in the $800's for townhomes and selling fast! While touring the new Pulte homes last week I was able to get the inside scoop on the hype of Potomac Yard. The 1st phase is almost completely sold out and there are now new plans for further development across Route 1 parallel to Potomac Yards. Residents are buying up these new homes based on the idea of a future metro stop at Potomac Greens expected in 2017. There are very few amenities available to the residents of Potomac Yard.

705 Miller Lane Potomac Greens Listed
at $1,085,000. 

     With the Potomac Greens townhome community an EYA development just on the other side of the metro I question the attraction to Potomac Yard instead. If I had to guess it would be the new construction alone that attracts buyers. Potomac Greens is one of the best kept secrets of Old Town, centrally located between Route 1 and the GW Parkway. You will find amenities like a walking trail, fitness center, pool, playground and club house. There are a number of resales in Potomac Greens that are like new and model home worthy. Just being a few years old the neighborhood appears to be under valued and a best buy for Old Town.

705 Miller Lane Potomac Greens Listed
 by Nancy Perkins Coldwell Banker.