Saturday, February 17, 2018

Price and Sales Update

Stanley Martin has sold off a lot of units since my last update which is impressive considering the winter is usually pretty slow for real estate.

They have 4 units left in building 5 and 6  (two Dawson's, one Parker along with the first extended Cassidy)

They finally broke ground for the foundation for building 7 on 2/14/18 and they have already sold 5 units in that building, including the extended Cassidy.   (unit 65 in this picture below, which had not been updated)

To my surprise, all 55 of the 119 townhomes that still remain are all currently for sale.  Even though building 7 has not even went vertical and probably will not be finished till Summer they are already selling building 8, 9 and 10...

No change in the prices for a long time now (posted below)...  They are back to offering the $18,000 options incentive they were offering last year at this time but they are offering that on almost all of their communities right now.   I believe they may do this every year to encourage sales during the winter months.  Curious to see if they can sell the last few units from building 5 and 6 before spring is here.  I think if they are able to do that we may see prices go up again.

On a more macro econ level... if interest rates continue to rise like this I believe it could hurt real estate prices across the board...  Let's hope Riverdale is somewhat insulated from this...

The pricing history on the smallest floor plan (Dawson) has been:

12/9/16:               $415,000
1/22/16:               $425,000
3/2/17:                 $430,000    
3/28/17:               $440,000
6/5/17:                 $443,000
11/5/17:               $440,000

 The pricing history on the middle floor plan (Parker) has been:

12/9/16:               $440,000
1/22/16:               $450,000
3/2/17:                 $455,000
3/28/17:               $470,000
6/5/17:                 $473,000
10/1/17:               $483,000
11/5/17:               $470,000

 The pricing history on the largest floor plan (Cassidy) has been:

12/9/16:               $465,000
1/22/16:               $475,000
3/2/17:                 $480,000
3/28/17:               $495,000
6/5/17:                 $518,000
8/25/17:               $537,490

Sunday, February 11, 2018

Thoughts one year in...

I started this blog exactly one year ago...

I have to say we are pretty pleased with our purchase. 

The positives are having the all this stuff in close walking distance...  I really love where this property is located.  Today I pushed a cart from our house to the Whole Foods and we got tacos at District Taco on the way back...  It's and easy walk to University Park, Hyatsville or even the University of Maryland...  The shuttle has been super convenient during this cold weather when I prefer not to walk to the metro...   I also love the large middle floor where we spend most of our time.

The negatives are that the retail build out and leasing is not going nearly as quickly as I hoped.   The same spots that were available when I started the blog in February 2017 are STILL not leased.  Also I find I rarely ever am using the loft or rooftop deck as I am just not getting all the way up there very much.   Going from only living in single family homes to a four story townhome has been an adjustment when it comes to the stairs.  You learn to plan to bring stuff up and down the stairs as needed in batches.  I have been adapting but that aspect has been a pain at times.  Also I wish we would have opted for the bathroom on the ground floor. (office)

Overall I am pretty happy and still curious to see what the next year of development for this community brings.   Seems we are going to get the bridge opening, the playground opening and Gold's Gym opening all in the next 45 days.  I will post another Sales and Price Update and Construction Update this month along with anything else that may come along...

Monday, January 29, 2018

Gold's Gym Layout:

The layout of the Golds Gym is not online for some reason... 

Here it is.. excuse the terrible quality:

Sunday, January 21, 2018

FedEx Office is now open, Burton's opens tomorrow.

FedEx Office is now open.

Amazing how fast they got that ready once it was turned over to them. 

They were only working on it for less than a month.

Burton's opens to the public tomorrow.  This is probably the best picture I have seen of it.

Here is a link to the menu:

I also snapped a picture of the outdoor seating area...  Looks like they still plan to add more seats out there.  There is also a very small, couple table area in the back not pictured.

Tuesday, January 9, 2018

Gold's Gym Update:

Good news hanging on my front door when I got home today:

Looks like their website is live as of today as well:

I plan on joining this weekend...   For now I am leaving the same estimate of March 2018 for the open date but I will update if/when I get new info.

UPDATE:  Apparently the phone number listed goes to another location and they do not know anything about the Riverdale location.   They also are not calling anyone back yet.  So no new info.

UPDATE:  Opening date is set for 3/21/18..  Updated the "Retail Opening Dates" section of the blog.

Sunday, January 7, 2018

Railroad Sound Barrier Wall Update:

In this post from October I mentioned that there are plans to build a sound barrier down by the railroad tracks at some point to help with the train noise.

As I had said even way up in building #2 the train can be fairly loud at night so the wall should be a welcomed addition to the development.

The developer finally added a note about the wall to their periodic update earlier this week:

"CSX Sound Barrier Wall:
An Agreement was recently executed with CSX to allow the construction of a sound barrier wall along Maryland Avenue north of Wells Run Place. Shirley Contracting anticipates commencement of construction work by the second week of January."

Usually things start later than what their updates say but it's good that it is approved and will begin at some point soon.  I think that (along with warmer weather) will help sell some of those units that are down by the train tracks in building #6.

Friday, January 5, 2018

Washington Post Article

Nice write up about the development around Route 1 in the Washington Post this week:

At the glitzy, four-month-old Hotel at the University of Maryland, the happy-hour group remarked on the MilkBoy ArtHouse, a hip new restaurant and music venue down Route 1. Just beyond it, in Riverdale Park, luxury townhouses with rooftop decks are selling near a new Whole Foods.
“It seems promising when you look at where College Park is,” Killion said. “There are a lot of cool things happening here.”

Sunday, December 31, 2017

General Updates:

Lot's of general updates about Riverdale Park Station I had not had a chance to post:

Burton's finally confirmed an opening date.    We already knew it would be in January but the official date is January 22nd.  Dates are always updated as I know more under the "Retail Opening Dates" tab at the top of this blog.

The sidewalk to Albion Road I had been talking about finally has begun construction 2 weeks ago.  This is how it looks now: 

I am glad they were able to save those two pillars I blogged about earlier here:

Now you won't have to go in the woods to see them...  Developer is saying the sidewalk will be open in the first quarter of 2018.

Townhouse buildings 5 and 6 are completely finished and folks have moved into both buildings already:

They have not even started on the foundations of any of the future buildings yet.  (7, 8, 9, 10)

Because it usually takes them around one month for the foundation and then another four months once they go vertical to have the units ready to sell, this means even if they start next week it is going to be May 2018 at the very earliest before they have another building to sell.

This is a good thing as in the past 2 months they have only sold one unit.  They still have 3 units for sale in building 5 and 9 units in building 6.   So far they have been holding all the building 6 units from the website and the MLS... except for lot 54 which is the first extended garage   (the 2700 square foot one)

I was very curious what they would be asking for the 2700 square foot one with the recreation room and large second floor terrace.   Turns out that one is listed for $626,847

There will be 5 of these units when the development is finished but I will be curious to see what they move this first one for.

I think they are dragging their feet a bit here on starting building 7 to give themselves more time to sell the remaining units from building 5 and 6.  By spring selling season I will be very surprised if building 5 and 6 are not sold out.

The playground has been finished for at least a month, but is still locked up:

The developer said expect the locks to come off in mid-December, which means they should come off any day now.

The FedEx Office put their temporary sign up... they will be in 1A...  I am surprised this location went to FedEx office but at least it is leased.

The bridge to the Discovery District looks completed but the developer is saying the work will continue through the first quarter of 2018:

For the 4 story parking garage... they finished the foundation right before Christmas and last week the crane showed up.   The crane has only been here a few days but they are already making good progress.   Remember this building is not supposed to open until the end of 2018 at the earliest.  The first shot is the best overall view of the building and the other two are from the ground:

The developer has said they will begin work on the "Village Green" area that will be between building 6 and building 7.

It's not a huge space but they are supposed to start next month and it will be interesting to see what they do with it.

Happy New Year!

Monday, December 11, 2017

District Taco is here!

Line was to the door at 7:00 PM.... 

I hope the Gold's Gym opens sooner than the planned March 2018 date or I am going to be in trouble with this so close to home...   :)

Monday, December 4, 2017

Update on the sidewalk to Albion Road!

See my post from May of 2017 about the sidewalk to Albion Road:

This was in response to a reader question and the developer said they WOULD be building this sidewalk but here over 7 months later I was starting to wonder if it would ever happen.

They just posted an update today that said:

Route 1 Sidewalk:
Construction of the Route 1 sidewalk connecting the Riverdale Park Station development to Albion Road across the WMATA property is expected to start the week of December 4 and be completed by the First quarter of 2018.

They have not begun work yet but looks like it should be starting any day now.