December 22, 2012: See, “Luxury Along the Potomac”:BARRON’s(page 33) JUMPS ON BOARD IN IDENTIFYING THE THE NO. VA./D.C. MARKETS AS “the greatest wealth-creating epicenter in the country, well worth a fresh look.” They specifically discuss the severe height restriction laws in D.C. as a driver for luxury high rise construction in Virginia, which we discuss in details below.

An exciting form of living has emerged in Northern Virginia, one made popular by changing life styles, the growth and awareness of Washington, D.C. as an international urban capital, and height restrictions in D.C. proper limiting the height of any structure within D.C. city limits.

The inability to buy a true luxury hi-rise penthouse home within D.C. geographical limits has helped create a demand for quality hi-rise condominiums close to D.C., and also within the new urban centers like Tysons Corner and the Reston Town Center.

This is not a life style or type of living with which many in our area can historically identify, nor fully understand. It has been said in jest that many people from Maryland or D.C. view Virginia as a different country, with the Potomac River as a natural boundary. The bottom line is this: even long-term D.C. and Maryland residents who would never have imagined moving to Virginia are among those seeking penthouse Virginia living. And the convenience to major D.C. sites and employment areas from Arlington and Alexandria is much greater than from any points in Maryland. Afterall, it is often said that George Washington threw a coin across the Potomac River from D.C. to Virginia. Granted, the dollar went further in those days.

Because of height restrictions in D.C. which disallow any structure being built higher than the U.S. Capitol, the only way to capture the beauty of Washington from above is from the Virginia side of the Potomac River. Recent changes in Arlington zoning laws, and developer creativity, is creating a situation in which the D.C. skyline is becoming defined in large part by structures on the Virginia side of the Potomac. And from these structures, residents can avail themselves of world class views to the nation’s capital, in addition to being conveniently within striking distance of virtually any major location within D.C.

Also, the new urban centers, particularly the Reston Town Center, have incredible penthouse homes which bring the elegance and quality of urban living to the new urban cores, at a fraction of theprice of those on the Potomac.

I decided to focus on this very specific market segment because I believe there is a need for someone who understands and identifies the dynamics of penthouse living. It is difficult for any real estate agent to make the jump in logic from understanding buying into traditional single family neighborhoods or general condominiums into thoroughly understanding the dynamics of penthouse living. By penthouse living, I am not referring to any top-floor unit on a 5- or 6- level building, but those homes which are truly “castles in the sky”; expansive in size, perched high within a desired location, and having unmatched views.

I have lived in Manhattan and understand the life style and reasons why many people would seek this urban style of life. In fact, many could not imagine living any other way. If you are selling a penthouse condominium, it is imperative that you choose a real estate partner who understands the marketing dynamics involved in this type of purchase, and can implement a successful plan. If you are buying a penthouse condominium, it is equally imperative that you work with a real estate professional who knows the pluses and minuses of the available inventory, both new construction and existing resales. In this market, it is crucially important to understand not only the dynamics of the general community, but the details of each alternative building and home. In no other form of housing is the minute detail of each home, community, and building more important than in choosing a penthouse home. Call or email me for a frank and detailed discussion.


Reston Town Center
Translate »