Thursday, December 18, 2014

Mortgage Rates Back Down

This week's mortgage rates are heading back 3.8% on a 30 year fixed rate loan.  That's down from 3.93% last week. Last year at this time, 30 year mortgages averaged 4.47%.  A 15 year fixed mortgage averaged 3.09% down from 3.2% last week.  A Bloomberg News survey says new home sales could increase as much as 16% in 2015, with existing home sales climbing 5%.

Wednesday, December 17, 2014

DC United Stadium a Sure Thing

News broke today that the DC Council voted on and passed legislation for the DC United stadium to go forward at Buzzard Point.  Initial plans call for a $300 million, 200,000 seat stadium--$150 million of which will be financed by the District.  It appears that many city projects will have to be put on hold or cut back in order to come up with the money but council members still voted unanimously on the stadium.

The bill will now go on to Mayor Vincent Gray for signature, likely next week.  "We are grateful that D.C. United's future in our nation's capital is secure," D.C. United Managing General Partner Jason Levien said in a statement. "This is a historic victory for the team and its fans, the city, the region and the sport of soccer in this country."

Monday, December 15, 2014

Local Development News

It looks like the long-empty building near the intersection of 11th and U Street will soon be redeveloped into multifamily.  The interesting news here, brought to us by the Washington Business Journal today, is that Industrial Bank may be the developer.  They bought the building located at 2002 11th St. NW back in 2001.  According to the Business Journal, it is not clear whether Industrial Bank intends to set this property up for sale, already has a seller in mind or plans to develop the project itself.  But a permit to raze the building and turn it into multifamily has been submitted to the DC Zoning office.  They also note that the other building owned by Industrial Bank at 2000 11th St. NW (the one with the bank branch on the street level) is not included in the redevelopment plans.  We'll keep you posted as we learn more!

And across town in the West End, developer EastBanc has finally broken ground on the fire station and library project at 2301 L Street NW.  There will be a 21,000 SF library and a fire station with 4 floors of affordable housing above it.  The library will also have 7,300 SF of retail space and 164 condo and rental units.  The fire station will consist of 55 affordable units and Squash on Fire, a state-of-the-art squash facility with eight courts and a restaurant.  This project will be built along L and M Streets NW between 23rd and 24th Streets NW.

Thursday, December 4, 2014

Logan Circle Holiday House Tour on December 7th

This Sunday is the 36th Annual Logan Circle House tour.  This year’s self-guided tour showcases an eclectic mix of eight residences, as well as St. Luke’s Episcopal Church and the nationally recognized Thurgood Marshall Center for Service and Heritage—celebrated incubators for African-American leaders since the mid-19th century. The always fun Wassail Reception at Studio Theatre will get you in the holiday spirit! And there are great raffle prizes provided by some of the neighborhood’s favorite merchants, including Le Diplomate, Compass Rose, The Fainting Goat, Batch 13, and The Coffee Bar. Get your tickets here!

Monday, December 1, 2014

Featured Rental: Stunning Four-Level Potomac Yard Townhouse

2312 Potomac Ave
Alexandria, VA 22301 
Available Immediately 

Bright, spacious, 4-level townhouse features: Four bedrooms, three full baths, two half-baths, an open floor plan with large living and dining rooms, gourmet chef-caliber kitchen with 42" cabinets, top-of-the line appliances, granite counters, breakfast bar, and wet-bar.

Beautiful master-suite with large walk-in closet and luxurious master bath. 

Top floor recreation room is ideal with wet bar, half-bath and access to spacious roof-top deck with dual-sided fireplace - an entertainer's dream space!

Wood floors, high ceilings, custom molding, and built-in sound system completes the package.

Thursday, November 27, 2014

Happy Thanksgiving!

From all of us at Slate Properties, we wish you and your loved ones a very happy Thanksgiving.  We are so grateful for your continued support and today we would like to take a minute to say thank you!

Wednesday, November 26, 2014

National Harbor's ICE!

This year's ICE! at National Harbor is now open and in full swing.  So if you're looking for something fun to do with the family this holiday weekend, this one is sure to please kids of all ages.  Just don't forget your'll be walking through a chilly 9 degree display!  The Washington Business Journal did a video showing all the Frosty the Snowman fun.  Check it out here