Old Town has many draws: river views; a walkable downtown with a Metro station; beautiful period homes, many of which were built before the Civil War; and an evolving mix of high-end shops and restaurants. So it may not be surprising that prices in the 22314 Zip code have been gradually climbing. In 2011, the median price was $555,000—up from $526,500 in 2010 and $525,000 in 2008.
Real-estate agents say prices start around $185,000 for a one-bedroom condo and top out around $5 million for a large historic home that’s been renovated. If you’re a renter, you can expect to pay about $1,650 to $2,200 a month for a one-bedroom; two-bedrooms start around $2,400.
The most expensive areas are the blocks surrounding the King Street Metro station and the southeast quadrant near the water along popular streets such as Saint Asaph, Lee, and Fairfax. As the area has become more built out, developers have looked to the northwest, closer to the Del Ray neighborhood and the Braddock Road Metro. Here are snapshots of five new developments in and around Old Town.
The Henry (525 N. Fayette St.; 888-539-0691), built in 2007, was converted to condos in 2011. It has 168 one- and two-bedroom units that range from about 690 to 1,700 square feet. Amenities include a fitness center and rooftop terrace. Prices start around $300,000 for a one-bedroom and go up to around $1 million for a three-bedroom penthouse. All have granite countertops, stainless-steel appliances, and Kohler fixtures.
In a former office building along the waterfront, the Oronoco (119 Oronoco St.; 571-483-0286) is scheduled to be completed in January 2014. The building will house 60 two- and three-bedrooms ranging from around 1,600 to 3,500 square feet. All units will come with a gas fireplace as well as two garage parking spaces and a private storage room. There’s also a heated outdoor pool and a fitness center. Prices range from around $1.1 million to $4.3 million.
When completed in summer 2015, Old Town Commons (735 N. Alfred St.; 571-312-8910) will fill five blocks and include 150 townhouses and 85 condos. Buyers can choose among six floor plans with either three or four bedrooms for townhouses and one or two bedrooms for condos. All of the homes will be LEED (Leadership in Energy and Environmental Design)-certified; “green” amenities include Energy Star double-paned windows and doors, optional solar power, and low-consumption toilets. Many will also have rooftop terraces, back yards, or garages. Prices range from $350,000 to $860,000.
Just north of Old Town, Potomac Yard (2400 Main Line Blvd.; 800-665-4161) will be a new community of 571 condos and townhouses on the site of a former railroad yard. So far, about 140 homes have been built and sold, and construction will be ongoing for the next four years. Ranging from about 1,600 to 2,600 square feet, all will have three or four bedrooms as well as hardwood floors, attached garages, and a balcony or terrace. The development will have two playgrounds, a dog park, and volleyball, tennis, and basketball courts. Prices range from $546,000 to $875,000.
Slated to open in early 2014, the Kingsley (500 Madison St.; 301-417-0510) will include 175 apartments above a new 55,000-square-foot Harris Teeter grocery store. Apartments will range from 650-square-foot studios to 1,350-square-foot two-bedrooms. All kitchens will have granite countertops and stainless-steel appliances. The building will also boast a fitness center and yoga studio, party room, and roof deck. Rents have not yet been set.
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