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Former Alexandria laser tag arena sells for $6M
The owners of an Alexandria Goddard School, an early childhood learning franchise, plan to open a second location in the city in a 20,000-square-foot building that started out as a roller-skating rink and was later home to a laser tag arena. The private preschool will take up 75% of the building at 5508 Franconia Road […]
VCU receives approval to purchase Altria Richmond research facility
Virginia Commonwealth University received state approval this week to buy Altria Group’s 450,000-square-foot research building in downtown Richmond. The Altria Center for Research and Technology, which opened in 2007, sits on more than four acres at 600 E. Leigh St. and is assessed for $275 million. Discussions between off[...]
Statewide home sales declined in February
Virginia home sales slowed in February, according to statewide sales data released Tuesday by Virginia Realtors. The trade association reports that there was a pullback in closed sales in February, with 6,129 homes sold statewide. That’s 604 fewer sales than last February — a 9% decrease. “Some of this was likely due t[...]
Governor signs landlord sexual extortion bill
RICHMOND, Va. — Gov. Glenn Youngkin recently signed a bill that will charge landlords who threaten renters with sexual extortion with a Class 5 felony . Del. Wendell Walker, R-Lynchburg, introduced House Bill 1998 to offer renters more protection from landlords who make malicious threats such as housing or financial loss, [...]
3D printed and factory-built homes could help tackle housing crisis
DENVER (AP) — As Americans struggle under backbreaking rental prices, builders are turning to innovative ways to churn out more housing, from 3D printing to assembling homes in an indoor factory to using hemp — yes, the marijuana cousin — to make building blocks for walls. It’s a response to the country’s short[...]
US home sales rose in February as mortgage rates eased and more homes put up for sale
LOS ANGELES (AP) — Sales of previously occupied U.S. homes rose in February as easing mortgage rates and more properties on the market encouraged home shoppers. Existing home sales rose 4.2% last month from January to a seasonally adjusted annual rate of 4.26 million units, the National Association of Realtors said Thursday. S[...]
Average US rate on a 30-year mortgage rises slightly for the second week in a row
Associated Press (AP) — The average rate on a 30-year mortgage in the U.S. rose slightly for the second week in a row, a modest setback for prospective home shoppers as the spring homebuying season ramps up. The rate rose to 6.67% from 6.65% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate […]
Completed home sales decrease in Feb. for NoVa, Hampton Roads
Housing sales in February decreased year-over-year in Northern Virginia and Hampton Roads. Inventory and median selling prices increased in both regions. Northern Virginia Closed sales in Northern Virginia decreased year-over-year in February, according to Northern Virginia Association of Realtors data released March 11. The med[...]
Average US rate on a 30-year mortgage edges higher, ending a seven-week slide
The average rate on a 30-year mortgage in the U.S. edged higher this week, ending a seven-week slide that helped ease borrowing costs for home shoppers just in time for the spring homebuying season. The average rate rose to 6.65% from 6.63% last week, mortgage buyer Freddie Mac said Thursday, March 13. A year ago, […]
Feds to consider ‘compelling offers’ for real estate
The Trump administration’s push to sell federal office buildings across the nation appears to be far from dead. A revised version of the “non-core” federal properties list is being prepared, a spokesperson for the General Services Administration, the federal property management agency, stated on Monday. “We anticipat[...]
Hitt acquires Central Consulting & Contracting
National commercial general contractor Hitt announced Tuesday that it has acquired health care construction firm Central Consulting & Contracting. Headquartered in Falls Church, Hitt Contracting provides commercial construction services throughout the country, including complex core and shell buildings, renovations, interior[...]
231-unit apartment complex near U.Va. slated to open in 2027
Work began in mid-February on Blume on Ivy, a 231-unit apartment building on Ivy Road, near the University of Virginia’s School of Data Science. The project is being developed by Up Campus Student Living, a Chicago-based investor, developer and manager of student housing and campus-area real estate. It’s slated to op[...]
