Search this blog:
Follow Avison Young:

Sunday, April 8, 2012

The Rosslyn-Ballston Corridor, Part II: A Vibrant, Mixed-Use Oasis in the Washington DC Area

by Dan Gonzalez

This is the second part of my focus on the Rosslyn-Ballston (R-B) corridor as an oasis of prosperity and vibrance in the Washington region. Served by five Metro stops within four miles, the corridor continues to attract new tenants, buyers, and developers in the face the deepest recession since the Great Depression.

The reasons for the corridor’s success: thousands of jobs concentrated around endpoints Ballston and Rosslyn, high population density around Metro stops, and a variety of restaurants, bars, and retail to service residents and workers. John Shooshan of the Shooshan Company was quoted as saying, “We’re just blessed to be in the right place, even at the wrong time.” The Shooshan Company is responsible for several large residential and commercial projects in the corridor.

The R-B Corridor was one of the first areas in the Washington, DC region to see residential sales bounce back after the 2008 crash. The health of the residential market is credited with fostering commercial successes, too (discussed in my previous blog post).

The 3.3-mile corridor traverses the high-rises along the Potomac River in Rosslyn; through Courthouse; to “cool” Clarendon; to Virginia Square, with its branch campus of George Mason University; and finally to Ballston, with high-rise offices, hotels and residences -- and also a hub for science and technology.

“We just consistently have new development in what we call urban villages,” said Terry Holzheimer, Arlington County’s director of economic development, recalling that R-B was a “decaying urban corridor in the 1970s.”

Projections are that the Rosslyn-Ballston corridor will continue to be one of the most desirable residential and commercial markets in the DC region. It has prospered during the worst recession in decades, and should continue to do so, as demand and supply should be in balance for the next several years.

The postings on this site are those of the bloggers and do not necessarily represent the views or opinions of Avison Young.