Apartment Construction Has One of Fastest Recoveries

According to IBISWorld, apartment construction in the United States has experienced one of the fastest recoveries within all residential construction industries. Economists are pointing to a decrease in vacancy rates and reasonable rent prices to have contributed to the growth in the multifamily sector.

Industry revenue is expected to have grown at an average rate of 6.9 percent through 2013. Looking forward to 2018, this pace may slow slightly, but still remain on track for a healthy recovery. “Industry revenue is anticipated to increase during this period,” says IBISWorld Industry Analyst Omar Khedr. “Continued migration of the US population toward metropolitan areas will still generate strong demand for industry services.”

The apartment industry seems to benefit from all types of fluctuations in the housing market. When the housing crisis was at its peak just a few years ago, more people chose to rent to avoid the downfalls of homeownership. Now that the overall economy is doing better and improving by the day, the apartment market is also benefitting from a stronger economy!

Arcadia Run is a wonderful example of the growth in the industry, as well as the types of apartment communities that people want to live in. Extensive amenities and an ideal location are only a fraction of the many great things that make Arcadia Run amazing. Our apartments define luxury with 9-foot ceilings, extended windows, new granite countertops, and vinyl flooring. You might not find these features and finishes in any other apartment complex!

But Arcadia Run provides more than luxury apartments – it provides a community, something not typical with new developments. Arcadia Run residents gather together for events like the Fall Festival and the recent Winter Holiday Party. With the future completion of the clubhouse, fitness center and swimming pool, residents will have even more fun activities and events to partake in.

As the economy improves, and the effects are felt throughout the apartment industry, 2014 is a great year to rent a luxury apartment in Arcadia Run!

Source: PRWeb

Manassas Named One Of Best Cities in VA for Job Seekers

Our residents at Arcadia Run already know that Manassas is a great place to live and work, and thanks to a recent ranking by popular consumer advocacy website NerdWallet, the nation knows it now, too.

Nerdwallet recently analyzed 109 major cities in Virginia to find the best for job seekers, and Manassas ranked at an impressive number five. For this analysis, Nerdwallet looked at several key factors: population growth of those 16 years old and older, median household income, and the unemployment rate in the city. Here’s how Manassas stacked up:

• From 2009 to 2011, the population change in Manassas of those 16 years and older was 10.1%. This was the fourth highest population change of the top 10 Virginia cites.
• The median household income for Manassas residents, as of 2011, was $73,091 – substantially higher than the national median household income at that time of $50,502 and the Virginia median of $61,882.
• The 2013 unemployment rate is a relatively low 6.0%

The analysis also pointed out Manassas City Council’s efforts to boost the local economy through Technology Zone, a citywide program that offers incentives to new or expanding businesses. NerdWallet also called attention to the principal employers in the city, including Lockheed Martin, Prince William Health System and Micron Technology.

Economists and consumers alike cheered the recent news that the national unemployment rate in November fell to a five-year low of 7 percent. This is great news for the national economy, which continues to slowly but fairly steadily recover from the recession. Virginia’s statewide unemployment rate in October, the most recent month that data was available, was 5.6% – substantially lower than the national unemployment rate in October of 7.3%.

Manassas isn’t just a great place for those looking for work – it’s a great place for those who want to make the most of where they live, too. With its proximity to Washington, D.C., idyllic downtown and excellent variety of shopping, dining and recreation options, Manassas truly offers the whole package.

For the job seeker in Manassas who also seeks the perfect place to live, Arcadia Run apartments are at the crossroads of luxury and convenience. In addition to its ideal location in Manassas, Arcadia Run offers its residents top-notch features and various amenities. Whether you’re interested in Manassas for its job desirability, for its location, or for its charm, Arcadia Run provides a dream apartment for any renter.

SOUCES: Nerdwallet.com, Bureau of Labor Statistics, census.gov

Holiday Events in Manassas

It’s official! The holidays are upon us! What do our Arcadia Run residents have planned for the coming weeks? In Manassas, there’s so much fun stuff to do that it can be hard to only choose a few activities! So, we’ve put together a list of classic Manassas events happening over the next week to get our tenants into the holiday spirit. Enjoy!

‘Merry Old Town’ Celebration – 12/6/13
Residents of Manassas know not to miss the “Merry Old Town” celebration in Old Town Manassas starting at 5:30pm! Meet Santa at the Manassas Depot to skate at the Harris Pavilion ice rink and ride around Old Town on a free hayride. Afterwards, head over to The Manassas Museum for their annual Holiday Open House. Enjoy hot cider, cookies, visits with Santa and the annual tree lighting on the Museum lawn.

Danú: Christmas in Ireland – 12/6/13
Want to hear traditional Celtic Christmas music? The award-winning group, Danú, performs traditional Irish music of the season at the Hylton Performing Arts Center at 8:00pm. For more information on how you can purchase tickets for you and your family, visit www.HyltonCenter.org or call 888-945-2468.

A Rippon Lodge Christmas – 12/7/13
Want to discover a little Manassas history with your holiday festivities? You’ll love the candlelight tour of Rippon Lodge to experience holiday celebrations from colonial Virginia. Tours are on the half hour, and they fill up quickly! Be sure to make your reservations early by calling 703-499-9812.

Manassas Chorale: ‘Tis the Season – 12/7/13
The evening following Danú’s performance, there will be two showings of the Manassas Chorale: ‘Tis the Season at the Hylton Center. This is a great show that everyone will enjoy! Find more ticket information at www.HyltonCenter.org.

Winter Wonderland Train Show – 12/11/13 through 12/15/13
Love trains? Then you’ll love the Winter Wonderland Train Show taking place at the Center for the Arts at the Candy Factory. In lieu of an admission fee, a donation of canned goods or unwrapped toys to benefit SERVE will be accepted. This magical and festive exhibition is open from 5-8pm on weekdays, 10am-5pm on Saturday, and 10am-4pm on Sunday.

Arcadia Run Holiday Party – 12/14/13
Arcadia Run is also hosting a holiday party on December 14. Santa will be paying a special visit to our apartment community, complete with a Santa train for children to ride, free pictures with Santa himself, Christmas carolers and holiday treats provided by R & R Catering. Don’t miss this chance to meet and mingle with your new neighbors and pass along the holiday cheer!

Signs You’ll Be Happier Renting

Despite experts and economists promoting 2013 as the year to buy, there are still many people out there who’d much rather rent instead. While the market is prime for buying a home, it’s also ideal for renting a luxury apartment like one in Arcadia Run.

So, how do you know if you’ll be happier by renting? Here are a few signs that could mean you’re cut out for living the active lifestyle in an apartment community!

Yardwork? No thanks: Let’s be honest, who has time for yardwork these days? Let alone cash on hand for costly home repairs like leaky pipes and flickering lights? By renting, residents can live in an apartment they love without worrying about the maintenance it requires. The responsibility and cost of repairs typically falls on the landlords or leasing companies, not the renter. This makes avoiding yardwork that much sweeter!

The home buying process is exhausting in itself: Buying a home is way more than a simple transaction. There’s paperwork upon paperwork, and possibly a couple of waiting games in between. Until you move your belongings into a house of your choice, just about anything can happen to prevent you from owning it. For those who don’t like this insecurity, or who would rather not deal with confusing paperwork, renting is a much easier option.

You’re not ready to settle down: Whether or not you’re ready to settle into a certain location doesn’t matter – but buying a home is a very permanent decision. What if you don’t like the house as much in five years? What will the market be like then, will you even be able to move out? With renting, residents can maintain their mobility. With this comes more freedom and allows them to keep their options open. And, it’s just nice to know you can easily move if you so please.

You care where your money is: Forget having your money tied up in a new home, renters can do whatever they want with their money! This means having cash on hand for investing in the stock market, starting a business, or having an emergency fund. This ties back into having the freedom and fluidity that homebuyers might not have.

If you find yourself agreeing with any of the signs above, then you very well might be happier renting an apartment. In Manassas, our luxury apartments in Arcadia Run are the premier choice. You can have all you want in a new space without buying a home!

Source: AOL Real Estate