Reasons to Live in Northern VA

Northern Virginia is in the heart of it all and if you’re looking to lead an active lifestyle this is the place to be. There is so much to do for night owls and daytime adventurers alike. Here are just a few reasons why Northern, VA living is the way to go.

Museums and Monuments

Located near the Nation’s capital means tons of free museums and monuments to visit. But aside from what near-by DC has to offer, Northern Virginia has a lot of historical landmarks to visit as well. In fact, we have over 50 free museums and historical sites. From the George Washington Masonic Memorial to the National Inventors Hall of Fame, there’s endless fun for history buffs.

Fitness Enthusiasts 

If you are in to staying fit an active, then Northern Virginia is the place to be with over 20 5Ks, 10Ks and triathlons to choose from. And that’s just in the fall. Also, Turkey Trots are a popular event out here, so you’ll be sure to find one at a community near you.

Lifestyle Variety

One of the many things that make Northern Virginia unique is its lifestyle variety. Loudoun is great for those seeking a more rural, small-town feel while Arlington and Tyson Corner offer the hustle and bustle nightlife. And if you’re looking for a nice neighborhood suburb, you can find that too! There is truly a place to call home no matter what environment you’re looking for.

Shopping

If shopping is what your after, we have some very well-known destinations like The Fashion Centre at Pentagon City and Tysons Corner. And don’t forget about the Galleria, which is a very popular tourist location as well as a favorite stop for the locals.

Seasons

Northern Virginia prominently displays all four seasons with perfectly hot summers and beautifully snowy winters. We get the warm scenery of the changing leaves in the fall and nothing is quite as beautiful as the cherry blossoms in the spring.

 Outdoor Activities

There’s plenty to do outside in Northern Virginia with bike trails that extend through DC and all the way to West Virginia. There are plenty of youth and adult sports to get involved in and if you’re into boating, fishing or camping we have those options as well.

Nightlife

Northern Virginia is famous for its nightlife with restaurants and activities for all tastes. From sports bars and cocktails to music and dancing, there’s never a dull night out on the town. One of Northern Virginia’s claims-to-fame is the Wolf Trap National Park, which hosts a variety of concerts all year round.

With Phase 2 now open at Arcadia Run, it’s a perfect time to stop by and see if Northern Virginia living is a good fit for you!

Sources: nothernvirginiamag.com, about.com, arbourrealty.com

What’s Next for the Multifamily Market?

As many experts have praised again and again, the multifamily industry performed consistently well throughout the recession.  Now with the recovery in full swing, we’re seeing that this section of the market continues to prosper along with the rest of housing market!  We can’t help but ask ourselves, “What’s next for the multifamily market?”

A recent article published by Multi-Housing News quells any fears that this incredible time in the apartment market is over.  The article, written by renowned industry expert Michael Bull, notes that “with demand from Millennials and Echo Boomers expected to remain strong, 2014 should be another good year for the multifamily market.” And looking back on how rents and occupancy rates continued to grow throughout much of 2013, we’re excited to see the same progress this year!

But it’s not just Millennials pushing the apartment market forward; many retired professionals and grown families are seeking luxury apartments for rent as well.  These spaces offer an alternative living option for those who no longer wish to be in the housing market or settle for the risks involved.  In fact, there are many benefits of renting for retirees, and it’s a viable option for many.

Additionally, Brett Finkelstein, CEO of CFLane, an Atlanta-based investment and real estate management company, believes that “amenity packages are still key to attracting and retaining renters.”  He adds that “tenants want a lifestyle, not just somewhere to live.”  Here at Arcadia Run, we are in tune with what our renters want!  In 2014, we’ll be introducing a pool, clubhouse, fitness center and much more to our community.  With everything brand new, our renters know they’ll have access to the best updated equipment and facilities.

But some of Arcadia Run’s most unique features are the incredible apartments.  How often do you find a truly luxurious apartment community?  Or a newly built one at that?  Not only are Arcadia Run apartments extremely conducive to active professionals and young families alike, but they simply offer more to the tenants.  Living in an apartment at Arcadia Run is so much more than renting an apartment!  It’s embracing an active and fulfilling lifestyle, surrounded by neighbors just like you.  Take a look at our one- and two-bedroom apartments that are as spacious as they are luxurious. Updated appliances are included in every unit, as well as tall ceilings, extended windows, granite countertops, and designer cabinets.  Get used to getting more!

Source: Multi-Housing News

Renting & Its Positive Impact on the Economy

When most think of ways to stir the economy, their minds don’t always jump straight to the apartment industry.  However, renting your space has a hugely positive influence on the economy, improving everything from spending to employment.  And best of all, renting is a more viable option for many, meaning everyone can contribute just by choosing to rent.

Last year, The National Multifamily Housing Council (NMHC) worked with the National Apartment Association (NAA) to compile data and research on the performance of the apartment industry in 2011.  Much of this research was gathered by Stephen S. Fuller, Ph. D., a professor at George Mason University, neighbors to Arcadia Run.  This report was one of the first of its kind and fully detailed the industry as a whole and its impact on a national level.

The report concluded that in 2011, the “apartment industry and its 35 million residents generated an economic contribution of $1.1 trillion to the national economy and supported 25.4 million jobs.”  Best of all, these overwhelming numbers are only set to grow as the industry grows, strengthening its effect on the economy.

A new interactive campaign coordinated by WeAreApartments.org goes into further detail about how individual markets contribute to the overall economy.  In Virginia, home to Arcadia Run, there are nearly 920,000 residents living in 493,200 apartments.  These residents and their apartments support over 750,000 jobs and contribute $31.6 billion to the state’s economy.

So yes, renters do carry their share when contributing to economic recovery.  And it’s quite a significant share if you ask us!  For many, renting just makes sense, and with Arcadia Run, there’s no better choice than one of our luxury apartments!

The available apartments at Arcadia Run are everything you’d expect to find in an upscale, newly built multifamily community.  Each unit is spacious with tall ceilings and extended windows – some even feature walk-in closets.  All apartments come standard with new carpeting, granite kitchen countertops and designer cabinets, things that may be considered ‘extra’ in other apartment developments.  And, available in various floor plans with either one or two bedrooms, these apartments are ideal for a fresh start.

But it’s not only the apartments that draw families to Arcadia Run.  The amenities and community culture help to make Arcadia Run one of the most extensive and well-rounded developments in Manassas.  This year, we will be building a resort-style swimming pool, brand new fitness center, ball courts and playground all for residents to enjoy.  Family events, like fall festivals and holiday parties, as well as activities going on in Manassas, allow residents to mingle with their neighbors and create lasting friendships.  Having all of this and contributing to the improving economy in a big way – does it get any better than Arcadia Run?

Source: National Multifamily Housing Council, WeAreApartments.org

Strong Demand for Apartments Predicted to Increase

We’re excited to share some great news for the apartment industry, courtesy of information from the National Association of Home Builders (NAHB)! According to panelists at the NAHB’s recent International Builders’ Show in Las Vegas, demand for apartments is expected to continue to increase over the next few years, strengthening an industry that has already been performing well in recent years. At Arcadia Run, we’re very happy to be a part of this incredible industry, and are proud to provide our residents with more features and finishes than they’d ever expect in such a spectacular location.

The multifamily housing market – which includes apartments and condominiums – has made significant improvements since 2009, when there were 82,000 multifamily housing starts. In 2013, that number jumped to an impressive 340,000 multifamily housing starts. The strength in the market is only expected to increase, with 363,000 multifamily housing starts being predicted for 2015.

According to Chief Economist at NAHB, David Crowe, theses impressive numbers come from three main sources:

·      The “echo-boom” generation – also known as millennials or generation Y – continues to increase in size and fuel the demand for apartments. Since this demographic will increase in the next few years, even more demand can be expected. Additionally, pent-up demand from this generation, who will be moving out of mom and dad’s house over the next few years, is expected to increase the need for more apartments.

·      Young adults continue to prefer renting to homeownership, a trend that’s increased since 2004 and is predicted to continue. Issues such as tight underwriting standards for mortgages, lower entry salaries and lower credit scores have led more young adults – as well as some older adults – to continue to prefer renting to owning a home.

·      Though the apartment rental industry has been performing strongly for the past several years, it was affected by the housing collapse and production of multifamily housing decreased significantly. When the apartment industry began to pick up speed in 2011, the increased performance was partly due to the market getting back to the normal flow.

Additional good news from the NAHB and the Census Bureau concerning the apartment industry is that rental vacancy was at a 12-year low in the fourth quarter of 2013, when the most recent data was available. NAHB points out that this tightening rental market reflects an improving economy, highlighting the importance of the apartment industry in not only the housing market but the overall economy as well.

Low rental vacancy rates and a continuing strong demand for multifamily housing are both excellent indicators of a healthy apartment industry, and at Arcadia Run, we certainly appreciate the benefits of being a part of this market. We look forward to being able to help sustain this projected increased in demand for apartment hunters in the Washington, D.C. metro region, which continues to be desirable area in which to live.

At Arcadia Run, we don’t just give our residents a place to rent, however – we offer exceptionally finished apartments, with nine-foot ceilings, extended windows and expansive kitchens with granite countertops, in an incredible location in Manassas, Virginia. And there’s even more to look forward to this year at Arcadia Run with the planned completion of amenities such as a swimming pool and fitness center in our community. Not only are we thrilled about the outlook for the apartment industry, but we are also thrilled for the future of Arcadia Run – and we can’t to show you what’s in store!

 

SOURCE: National Association of Home Builders, Business Insider

 

Fourth Quarter Highlights in the Apartment Industry

With the release of 2013’s fourth quarter results for the Washington D.C. metropolitan area’s apartment industry comes excitement and promise in the market.  It’s all good news for those who rent their space around the beltway!

According to reports published by MPF Research, one of the biggest standouts from last quarter was the marked increase in construction volumes.  In fact, this has been a highlight for this region for the past two years.  Since 2012, and through the last quarter of 2013, construction volumes remained above 20,000 units, a very comfortable amount.  Better yet, the delivery volume hit a 10-year high last year, ranking our metro with the largest completion volume in the nation.

The apartment industry is growing in the D.C. metro area, and Arcadia Run is no exception!  This year, we plan to bring a new clubhouse for residents to socialize, a fitness center, a swimming pool, ball courts, a playground and walking and jogging trails all to the Arcadia Run development.

So, what does this all mean for potential renters?  Rent!  As the industry continues to advance and flourish, more and more people will opt to rent apartments like the ones available at Arcadia Run.  The more people signing their lease, the more competition will increase, lowering overall supply and raising rents.  With so much activity in the multi-family housing sector, smart renters are moving into their new apartments as soon as they can.

If searching for the right apartment in the D.C. Metro area, the luxury apartments at Arcadia Run in Manassas are the only choice!  One of the hottest apartment communities on this side of the beltway, the spaces at Arcadia Run have everything renters look for.

Arcadia Run focuses on providing the most for tenants.  Our luxury apartments are truly some of the nicest and most extensive in the Manassas market.  Every unit features 9-foot ceilings, extended windows, patios or balconies, vinyl ‘hardwood’ flooring, and completely updated appliances.  With the option of one or two bedrooms, some apartments even have walk-in closets.

The close proximity to various dining and shopping venues, as well as Jiffy Lube Live, are both huge advantages to the active Arcadia Run resident.  And as mentioned, with new amenities, luxurious apartment features and a promising market, moving into Arcadia Run is one of the best decisions a renter can make!

Source: MPF Research

Who Will Drive the Apartment Industry in 2014?

While the apartment industry felt the effects of the housing crisis, the repercussions were much less severe than other industry sectors. In fact, the industry as a whole benefitted in more ways than one, and emerged from the recession with strong prospects.  Most remarkably, the growth is in part to the certain demographics that drive the industry and their continued contributions to the market.

So who are these groups of people, and why will they choose to rent their space in 2014?

Baby Boomers

Not surprisingly, many baby boomers are opting to rent their spaces instead of owning them.  Many have decided they want a more secure housing alternative that comes with more features, like community amenities and luxury appliances.  Additionally, many are looking to rent apartments because they wish to waive repair and maintenance efforts.  When renting an apartment, any repair or maintenance costs typically fall on the landlord, allowing tenants to enjoy their apartment while saving money.

Parents & Families

A tenant trend that’s been extremely prevalent this past year has been an increase in parents with children.  It’s easy to see why this could be true in Arcadia Run – our community includes everything a growing family might want or need.  With a planned pool, clubhouse and playgrounds, Arcadia Run is every busy parent’s dream. And, with events like our recent Holiday Party, families can connect with their neighbors and create lasting friendships.

Better yet, Manassas is a great town to raise a family.  The charming historic district offers so much for residents including seasonal festivals, countless museums, and a thriving downtown scene with family-friendly restaurants.

Young Professionals

Young professionals who are renting their space are seeking to maintain their mobility, and will continue to do so in 2014.  Many renters may have the ability to find a leasing option that works best for them, giving them more freedom when choosing a space. With Manassas being the home to major corporations, living and working in this great town is more attainable than ever!

No matter the demographic you fall into, Arcadia Run is one of the best luxury apartment communities in the Manassas area.  Our brand-new apartments are available in different floor plans and pricing to match your needs.  The included community amenities are some of the best in market and truly seal the deal on this amazing development. This new year brings promise to the apartment industry and we’re excited to welcome new guests to our Arcadia Run community!

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

Renting ‘Just Makes Sense’ For Many

Deciding whether to rent or buy a home can be very challenging. Economists and industry experts everywhere are pegging this year to be one of the best to buy a home. Conversely, some of the same experts and industry leaders are advocating for the opposite – saying that it’s a prime market for renters. For many, renting just makes sense – financially and logistically. Here’s why:

They don’t want the hassle of homeownership.
Sure, the idea of homeownership may be tantalizing. Before the recession, owning a home nearly guaranteed financial security. Today, it’s considered to be a huge gamble. This stress alone is enough for many to rent instead. And, the risks of buying a home go far beyond financial strains – losing your home can mean losing everything you’ve worked for. This is the very reason why more and more people are choosing to rent. It dodges the risks of buying a home yet allows the tenant to live in a place they love, like Manassas.

They want to stay active.
Arcadia Run might very well be the most active apartment community in Northern Virginia. With amenities that can keep up with our lively residents, and a wide selection of floor plans, our complex is the only choice. And, aside from staying physically active, many choose to rent in order to maintain mobility in their career. Who knows where they’ll be in 10 years, let alone the next 30?

The apartment market is as promising as the housing market.
Many people unfairly label the apartment industry as a fleeting or non-beneficial investment. The truth is, the apartment market has mirrored the housing market almost identically. So as housing has continued its recovery over this year, so has the apartment industry. The planning, building, and renting of an apartment complex, as well as the residents’ use of local businesses, provides an unprecedented financial boost to the economy. In 2011, the apartment industry and its residents, contributed $1.1 trillion to the national economy. They also supported nearly 25.4 million jobs across the country.

While deciding to rent or to buy will always be a hot debate, one of the best places to rent in Northern Virginia is Arcadia Run. Our luxury apartments give renters the most options possible in Manassas and provide stress-free living for countless tenants. With building maintenance, resident amenities, and prime location in a Washington D.C. metro, apartment living couldn’t get any better than this!

Source: The National Multi Housing Council

Demand for Apartments Grow

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The demand for apartments is at a new high, pushing national vacancy rates way down.  This is great news for residents in Arcadia Run, who can now boast the high value of their new apartment!

Despite the improvements in the housing market, the rental market is still booming.  Only four percent of U.S. apartments were vacant in the second quarter of 2013. “The simple fact that vacancy continues to compress despite such low vacancy rates speaks volumes about the ongoing demand for apartments.  The national vacancy rate now stands 380 basis points below the cyclical peak of eight percent observed right after the recession,” says Ryan Severino, senior economist at Reis, a company that provides current information on commercial real estate.

The average rent may be rising because of the decrease in vacancies, but it’s still extremely affordable compared to buying a house.  Like we mentioned in our last post, home prices in Manassas are on the rise, showing that our area is increasing in value and demand.  What better way to live in a sought-after region while still saving your money?  Arcadia Run is the best choice for young professionals who want to get the best bang for their buck.

AOL Real Estate says renting an apartment is the ideal choice for young Americans. Apartment markets are thriving the most near college and university communities, much like Manassas. Being so close to several colleges, Washington D.C., Jiffy Lube Live, and an abundance of bars and restaurants, it’s clear why this region is so popular among renters with active lifestyles.

As we’ve seen in the past, the housing market can be very unpredictable. Renting is a great option for those who want security and don’t want to deal with the stresses of homeownership.  Arcadia Run apartments are also of higher quality than many of the homes sold in our area.  With up-to-date features that are above the standard of most new homes, and a dynamic community for residents, our apartments have proven to be the hottest new place to live.

At Arcadia Run, it’s easy to see why these apartments are in such high demand.  They’re newly built, come with the best features, and have gained a following of fun and lively residents. As the demand for luxury apartments continue to rise, you can bet Arcadia Run will fill up quickly!

Source: AOL Real Estate