Condos Come back to Virginia Square

by Dan Lesniak

800px-Virginia_Sq-GMU_station_entrance_pylon_at_nightThe AKA Luxury Suites Residences building at 3409 Wilson Blvd. in Virginia Square on the Orange Line has been purchased by the Goldstar Group, and they have grand plans in mind. The building was originally built in 2006 and developed to be condominiums. But in 2007, the building was bought by Korman Communities and Hunt Properties in 2007, turning the site into an extended-stay apartment building. Now Orange Line Living is about to get some more permanent residences. Goldstar has decided to convert the building back into for-sale condominium units.

While the property has done well as an extended-stay location, it has been noted by Goldstar that the area is short on condos, and they feel the time is right to bring more units onto the market. This notion follows suit with the current rising market trend for condos within Arlington and the Orange Line directly. The multifamily market is shifting from one higher in rentals toward for-sale condo units. This trend speaks to the urban residents who want to live close to where they work, and who are ready for investing in a home of their own. Orange Line Living exemplifies this idea substantially. With a variety of micro neighborhoods in Arlington providing people with several options of lifestyle choices, from single-family homes, duplexes, townhomes and condos, the recent upswing toward condominium development reflects the demand.

The building on Wilson Blvd., as yet without a new name, will not only provide a prime location for those looking to buy in Virginia Square, but also has great amenities already built in. There is a workout room, residence lounge, rooftop terrace and floor-to-ceiling windows in place. The site is also a short walk to the Metro station, with grocery stores, cafes, clubs and restaurants all nearby. A $6 million renovation of the property is to be launched and units are expected to be made available sometime in September 2014.

The Condo Market is on the rise in Arlington. The Orange Line Living team and I are here to provide you with our unique and specialized services so you can turn your dreams into reality. To learn more about how we can help you, contact us directly at 571-969-7653 or at [email protected]

 

 

 

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