Crystal Municipality locals were not especially surprised when The Washington Post reported Saturday that Amazon is in advanced planning put ons of placing a new headquarters in the neighborhood, which is part of Northern Virginia borough Arlington.
For the better part of a year, Arlington-based real estate envoy Eli Tucker has been telling his clients to consider the possibility that Amazon will-power bring new business and higher property prices to the community, even area Crystal City a “likely location of Amazon HQ2” in listings. Over the erstwhile few months, his clients have started bringing it up first.
“It’s part of every fix conversation I have with buyers and sellers,” said Tucker, president of the Eli Residential Assembly at RLAH Real Estate. “I have people coming to me wondering if they’ve missed the yacht with Amazon HQ2 and sellers wondering if they should sell now or if they should agree to onto their property.”
On Monday, media outlets including NBC Report reported that that Amazon is now planning to split its new headquarters between varied than one city, meaning that Crystal City would quota any benefits of a new Amazon building — as well as any drawbacks.
“The roads are already reasonably clogged as it is and I can’t imagine having 50,000 more people just across the municipality in Crystal City,” D.C. resident Mark Manivog said, referencing the 50,000 professions Amazon originally claimed HQ2 would bring to the new location. (That bevy is likely to be half as large if Amazon splits its new headquarters.)
“I’ll be happy, there intent be more jobs and more opportunity, but at the same time there is the freight issue and there is the housing price issue.”
Other locals, type Northern Virginia resident Lars Dyrud, hardly see a downside to requiring Amazon HQ2 in the area.
“I think it’s virtually all positive,” he said. He noted that specific property owner JBG Smith had already “done a great job of revitalizing the compass” ahead of the anticipated Amazon selection.
Real estate professionals appear to agree that if Crystal City does become a new Amazon turning up, housing prices will almost certainly increase. Both Tucker of RLAH and Associate Dealer Aaron Seekford of Arlington Realty advise sellers that if they have in the offing the option to hold on their property until after the announcement, they could stock for more without much additional risk.
“If Amazon does not on it’s not like the market is going to bottom out,” Tucker said. “You can make a cogitative play and if Amazon decides to go elsewhere you’re still in a really strong legal estate market.”