Good news if you live around the Arlington Forest neighborhood and your kids play at Edison Park(213 N. Edison Street); Arlington County is planning to place $822,166 for the park's renovation.
Edison Park planned improvements (via Arlington County)Continue reading
Old growth neighborhood
The economic theory of "Progression and Regression" states that building a home that is valued substantially above other properties in the same neighborhood will most likely cause the newly built home to value downward toward the other properties. This is sometimes called "overbuilding" because sometimes a homeowner will put additions or improvements on his home that are substantially better than his neighbors.
But the theory is called progression and regression because a home that is in a diminished condition in a better neighborhood will command a higher value. Additionally it is possible for a neighborhood to reach a tipping point. In other words, if enough of your neighbors "overbuild" your house could increase in value due to the increase in value of the neighborhood.
In Northern Virginia, we see this in many neighborhoods in and close to Alexandria and Arlington. For example, in Del Ray, older working-class homes have been replaced by or improved to become pricier and much more luxurious. Lyon Park and the area surrounding Belle Haven is not the same neighborhood that I remember as a child. Both of these areas have become much more exclusive.
Are you looking for new construction in Northern VA?
Montebello’s thirty year old Community Center was the focus of the town meetings that took place on September 8th and 12th, according to Barbara Boykin (2013). The Community Center Master Plan (CCMP) is comprised of 19 possible
Will Nesbitt, Julie Nesbitt, and Stuart Nesbitt appear in the Montebello news letter
improvements that range in cost from $1000 to $852,305 (Boykin 2013). “Residents were asked to review the CCMP and indicate their priorities, as part of the ongoing development of the plan” said Boykin.
“President Doug Kennett or Vice President Greg Bender, Planning and Design Committee Chair Ford Chinworth, Thomas Kerns of Kerns Group Architects (KGA) gave an overview of the plan’s contents” said Boykin (2013). The CCMP, initiated in 2011, serves as an outline of possible projects to be developed, after the Fitness Center is completed, which is supposed to take place around 2015 (Boykin 2013).
Proposed enhancements are divided into three categories: site/exterior, lower level, and main level (Boykin 2013). The most expensive renovations include the redesign and relocation of amenities and offices on the main level. Proposed changes include the removal of raised floors in the lounge and café, expanded café seating, a market space reduction, and enlarged entries and restrooms (Boykin 2013). If the changes go through, the administrative offices would be changed to allow for more efficient office and meeting space (Boykin 2013).
Boykin, Barbara. "Residents Asked to Review Community Center Master Plan." The Times of Montebello [Alexandria] 1 Aug. 2013: 1&5. Print.
