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new apartments for rent
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
Rental Vacancy Rate Encourages Renters
Rental vacancies across the apartment industry hit a new high in the fourth quarter of last year. Then again, it’s more of a low! Nationally, the average vacancy rate fell to just 4.1% during the last quarter 2013. This is the lowest vacancy rate in over a decade and a new achievement for the multi-family housing market.
The impressive vacancy rate suggests that more people are finding apartments they love and are choosing to rent – certainly not a bad idea in today’s market. As the overall economy continues to improve, more people will feel financially secure and rent that apartment they’ve been eyeing. And, as more and more people move into an apartment they love, it’s possible rents will increase and supplies will decrease. Simply put, this low rate means that those considering a new apartment in Arcadia Run should act fast. Our newly built apartment community is growing in popularity and new tenants are quickly falling in love with their new space. Who knows how long your dream apartment will be available?
The luxury apartments at Arcadia Run are unlike any in the Manassas area. Built to the Arcadia Communities standard, these units are truly designed with residents’ lifestyles in mind. Finally, an apartment that can keep up with you!
In all Arcadia Run apartments, residents will find 9-foot ceilings, extended windows, full-size washer and dryer, balconies or patios, granite countertops, designer cabinets and an intuitive layout. With both one and two bedroom floor plans, any family will find a space that fits.
What could make these luxury apartments even better? A community, of course! In the future, Arcadia Run residents will have access to exclusive amenities. This year, a new resort-style swimming pool, clubhouse, and fitness center will be added to our development. Ball courts, a playground and a jogging trail will also be coming in 2014, offering even more for residents to enjoy.
Get used to getting even more with Arcadia Communities! As our Arcadia Run community grows, so will the amount of interested tenants, so don’t waste any time! Contact us to speak with a leasing agent or schedule a tour. You’ll be glad you did!
Source: Reuters
The Art of Apartment Shopping
Shopping for a new apartment could be considered an art form – yes, seriously! It might not be featured in a museum, but these skills are certainly helpful when finding a new space to rent. With all of the information out there on various options, deciphering ‘the good’ from ‘the bad’ can be cause for a big headache.
To help out, we’ve put together a list of questions to ask yourself when perfecting your apartment shopping skills:
What’s the quality of the apartment/community?
Of course having a quality apartment tops the list! ‘Good Quality’ can apply to the carpeting, building structure and status, appliances, perks, features and little things that one might not think of. With new carpeting, vinyl ‘hardwood’ floors, granite countertops, designer cabinets, extended windows and updated appliances all in a newly built building, we’ve thought of it all! Arcadia Run apartments are the embodiment of luxury and are as thorough as they are beautiful.
Additionally, to truly make Arcadia Run an all-encompassing community, we’ve provided various amenities for our residents to enjoy. We plan to have a new pool, fitness center, walking and jogging trail, a clubhouse and a playground all incorporated into the community within this year.
How much space do you need? How much is available?
One of the most valuable assets in any apartment is space. And believe us, finding an apartment for the right price is even sweeter when the layout fits your needs. At Arcadia Run, our apartments go one step further. Each unit features 9 foot ceilings and an intuitive design. You won’t believe all the room you can have in one unit alone! We also offer a variety of floor plans with either one or two bedrooms, so you have options when choosing the one that’s right for you.
Is it the right location?
What would be the fun in living in a great apartment if it weren’t located somewhere just as appealing? Luckily for Arcadia Run residents, our community is located in beautiful Manassas, Virginia, giving residents close access to all that this great town has to offer. With a charming downtown scene complete with restaurants, shops, parks, historical sites, and entertainment venues, and convenient to Washington D.C., what more could you ask for?
Is the community right for me?
Speaking of things to do around town, a perk to any apartment community is, well, the community! This is especially true for families with children or social residents who want to mingle with their neighbors. Arcadia Run is always hosting different events for residents to connect, just take a look at our Facebook page. And, with the completion of our new clubhouse, residents can expect even more invitations in the future!
The endless searching for a new apartment stops here. Arcadia Run apartments meet every criterion on any renter’s checklist. It’s that simple. Get used to getting more with Arcadia Run apartments!
Get the Most Out of Your Closet Space
No matter the size of your apartment or home, it’s always a good idea to do everything you can to get the most out of the storage space. In Arcadia Run, our luxury apartments provide walk-in closets, a feature that is nearly unheard of in other apartment developments. But, even with these massive closets, there are still ways to optimize the space inside.
But, before you begin to reorganize your closet, here are a few tips to keep in mind:
First things first, go through your closet and storage bins to find out what you really need. There’s no reason to keep clothes that no longer fit or that you won’t wear. Donate them, share them with friends, or consign them to free up more room.
Next, pack away anything that’s out of season. Short-sleeved shirts and sundresses may be taking up the space where sweaters and coats could be hanging. Once the season changes, go through your clothing again and restart the process.
After you’ve gone through your items and found what you do and don’t need, the next step is to prioritize items. The things you use the most should be the easiest to get to. These items should be in plain sight and are typically positioned in the middle of your closet. Things you think you will use less often, like shoes you don’t wear everyday, can be placed near the bottom. And, the items that you never use or won’t be wearing until the next season can go to the top.
Dividing your closet, or any other storage space for that matter, in this manner will help you to maintain its neatness. You won’t be digging for lost clothing and when you need something, you’ll know exactly where it is.
A way to create this type of organization is to get creative with shelving units. You might not find the dream unit that fills your closet perfectly, but you can certainly create one using multiple pieces. Different sized and shaped cubbies or boxes will help with prioritizing your items, while keeping everything in proper place.
And finally, if you’re feeling really ambitious, make finding something in your closet even easier by color coordinating the items. This is especially helpful if trying to put together an outfit or looking for a particular colored blouse. However, this takes time and dedication or it will quickly lose order.
Maybe most importantly, closets should be treated just like any other room. By making it a priority to keep it organized, like you would a kitchen or living room, you’ll save yourself time and hassle when looking for clothes. Getting dressed in the morning has never been easier!