Arlington prices to spike; Silver Line hits snag; mortgage rates go low; Soul Cycle to VA; and more

It's challenging to keep up with local news, particularly the items that may impact your life, your commute, or your community. That's why each week we compile a few interesting developments happening in the area.

Washingtonian: Arlington Home Prices Will Spike 17.2 Percent by the End of 2019

"The first quarter of 2019 yielded a much more competitive housing market than local economists and Realtors originally anticipated for the areas around Amazon’s future HQ2. According to a report released Wednesday by the Northern Virginia Association of Realtors and the George Mason University Center for Regional Analysis, the median home price in Arlington County is on track to spike 17.2 percent by the end of 2019."

UrbanTurf: Mortgage Rates Remain At Lowest Level in Almost Two Years

"Long-term mortgage rates are still at their lowest level in almost two years. On Thursday, Freddie Mac reported 3.82 percent with an average 0.6 point as the average for a 30-year mortgage, unchanged from last week's rates. Long-term rates were last at this level in September 2017."

Washington Business Journal: Virginia Tech Innovation Campus to land at Potomac Yard

"The Virginia Tech Innovation Campus, a $1 billion effort to build up the state's tech worker ecosystem in conjunction with Amazon.com Inc.'s arrival, will be constructed in Alexandria's section of Potomac Yard. Oakville Triangle, located across Route 1 from Potomac Yard, is out. Instead, the campus will be located within the northern portion of Potomac Yard, on 15 acres between Four Mile Run and the existing Regal Cinemas theater, about a quarter mile from the planned Potomac Yard Metro station."

WTOP: Construction on Silver Line extension hits a new snag

"New Silver Line construction delays could push back the opening of the extension to Dulles International Airport and Virginia’s Loudoun County by more than two more months. While the Metropolitan Washington Airports Authority — which is responsible for construction of the line — still hopes to speed things up, the contractor responsible for building the new rail yard near Dulles Airport revealed its latest schedule slipped 67 days in just a month. The estimated substantial completion is now set for late July 2020."

UrbanTurf: An Office-to-Residential Project in Alexandria to Deliver 520 Apartments, Indoor/Outdoor Food Hall

"A new office-to-residential conversion is scheduled to deliver soon just blocks from Eisenhower Avenue Metro station. Perseus TDC, Four Points and ELV Associates have retrofit a 47 year-old industrial office building at 2470 Mandeville Lane (map) into a 16-story mixed-use project. Dubbed The Foundry at Carlyle, the building will deliver 520 loft apartments atop 25,000 square feet of ground-floor retail, including co-working space and an indoor/outdoor food hall by Scott Shaw and ALX Community."

ArlNow: Columbia Pike Blues Festival Returns, Prompting Weekend Road Closures "The annual Columbia Pike Blues Festival returns tomorrow (Saturday) with live music and several road closures. The festival will run from 1-8:30 p.m. at the intersection of Columbia Pike and S. Walter Reed Drive. This year’s music lineup includes soul and blues artists Sugary Rayford, Thornetta Davis, Hardway Connection, Lauren Calve Band, and Funky Miracle."

ArlNow: I-395 and I-66 Projects Causing Contractor Shortages, Higher Costs

"A proposed streetscape improvement project has revealed rising construction costs in Arlington County due to ongoing work to add new lanes to I-66 and I-395 — and associated projects. We believe the shortage of qualified contractors resulting from the abundance of work generated by the I-66 & I-395 Express Lanes projects is contributing to the higher than expected bid prices,” according to a county staff report."

Washington Business Journal: Take a swing at this preview of Topgolf National Harbor

"The region's fourth Topgolf location is ready for business. Dallas-based Topgolf International Inc. held a preview for its National Harbor location Wednesday evening and will announce the official opening on Monday, according to marketing manager Kelsey Hannah. The three-story, 65,000-square-foot venue at 6400 Clipper Way in Oxon Hill includes more than 100 hitting bays; full-service restaurant and bars; a rooftop terrace with a fire pit; more than 200 high-definition televisions; and private event and meeting spaces."

Northern Virginia Magazine: SoulCycle opens first Virginia outpost in Clarendon

"Indoor cyclists in Northern Virginia are smiling with joy. Why? Because popular fitness brand SoulCycle is opening its newest studio in Arlington on Friday, June 14. The indoor spinning studio, known for its unique class style, low lighting, upbeat music and lit candles, has four outposts in Washington, DC and one in Bethesda. The Arlington studio, located in Clarendon, is SoulCycle’s first in Virginia."

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