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Alexandria residents fuel 3.4% rise in tax base, new assessments show

By James Cullum
A street lined with American flags in Old Town, Alexandria. (staff photo by James Cullum)

The gap between Alexandria’s residential and commercial tax bases continues to grow, with residents shouldering more of the city’s tax burden, according to the city’s released real estate tax assessments.

As of Jan. 1, Alexandria’s overall tax base increased by 3.4% in value, or nearly $1.7 billion, to reach $51.4 billion in 2026. The city’s residential tax base increased by 4.4% in value, or $1.4 billion, while the commercial tax base gained $334.8 million in value, up 1.9%, and the non-locally assessed tax base declined by $20.5 million, dropping 2.8%.

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Facing financial decline, Alexandria releases new draft plan for economic growth

By James Cullum
A 'Shop Local' sign in the 200 block of King Street in Old Town (staff photo by James Cullum)

Facing a decline in job growth, a struggling commercial real estate market and a climbing population, today (Friday) Alexandria released the draft of its first economic development strategy in nearly two decades.

The 63-page ALX Forward draft plan makes a number of recommends to reverse negative trends, including leveraging economic opportunities in Old Town North, Eisenhower East, the West End, and Potomac Yard; retaining local businesses and attracting high-growth industries like artificial intelligence firms; and strengthening support for the city’s entrepreneurial ecosystem.

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News

Alexandria office vacancy rate tops 21% despite leading nation in conversions

By James Cullum
A rendering of the office-to-residential conversion for 601 Wythe Street in Old Town (via City of Alexandria)

Alexandria’s commercial real estate market is struggling, although the city is a leader nationally with office conversions, according to the Alexandria Economic Development Partnership (AEDP).

That’s according to AEDP’s 2025 Mid-year Market Report, which outlines business trends and impacts.

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News

PLANS: Apartments could replace office building in Alexandria’s West End

By James Cullum
Site plan for 1900 N. Beauregard Street in Alexandria's West End (via City of Alexandria)

Plans to replace an office building in the West End with a 345-unit apartment building are heading to city review.

According to city records, the applicant, 1900 Beauregard Property Owner LLC, a New York-based company, bought the four-building, 300,000-square-foot Beauregard Professional Center for $12.6 million in 2021.

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Council to consider moving dozens of city staff to AlexRenew headquarters

By James Cullum
AlexRenew headquarters (via Alexandria Renew Enterprises/Facebook)

City Council will consider a lease agreement tonight to move a portion of the Department of Transportation and Environmental Services to a 5,600-square-foot office space at AlexRenew Headquarters.

The city’s wastewater authority at 1800 Limerick Street finished construction of its headquarters in 2016, and was designed for expansion on the fifth floor.

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Alexandria’s office property values dropped 12% this year

By James Cullum
Alexandria City Hall (staff Photo by Jay Westcott)

(Updated 4:15 p.m.) Alexandria experienced a 12.4%, or $440 million, drop in office property values this year, according to the city’s Office of Real Estate Assessments, and it could mean a reduction in city services.

Alexandria’s real estate tax base grew by just .33% this year, about $200 million, for a total of $48.49 billion, which is the smallest growth in 15 years, Mayor Justin Wilson tweeted. The city’s commercial property tax rate fell 4%, or $736.9 million.

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Don Simpson, Jr. named Alexandria’s Business Leader of the Year

By James Cullum
Donald Simpson, Jr. has been named the 2023 Chamber ALX Business Leader of the Year (courtesy photo)

The Alexandria Chamber of Commerce has selected Don Simpson, Jr. as its business leader of the year.

Simpson, the president of Simpson Development Company and vice president of Simpson Properties, Ltd., was recognized for giving back to the community. He’s a fourth generation Alexandria and has worked with his family firm for more than 40 years.

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New report suggests low rents and amenities give Alexandria’s office market an edge over neighbors

By Jo DeVoe
Scenes from Old Town (staff photo by Jay Westcott)

When it comes to office vacancy, Alexandria may be faring better than its neighbor to the north and west.

Its vacancy rates are lower than the average for the region and its rents are cheaper than every submarket in Arlington County, according to a new report from real estate company Savills.

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Bonaventure puts former Del Ray gas station and office space on market for $3.3 million

By James Cullum
Bonaventure has put 2903 Mount Vernon Avenue on the market (via Google Maps)

Bonaventure is pulling the plug on another of its properties in Del Ray. The Arlington-based real estate developer recently put its properties at 2903 Mount Vernon Avenue and 104 Hume Avenue for sale for a total of $3.3 million, according to a listing.

Bonaventure bought the two properties for $2.6 million in 2017. The two lots were proposed to be converted into an office building, but plans never materialized. The former Anthony’s Auto Center at 2901 Mount Vernon Avenue is 10,400 square feet, and was used as a spin studio, but closed down during the pandemic. It was assessed at $1.4 million in January 2022, and Bonaventure bought it for $1.6 million in 2017.

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MRP Realty backs out of Arlandria shopping center redevelopment

By James Cullum
The Del Ray North Shopping Center in Arlandria. (staff photo by James Cullum)

After years of stalls and starts with various redevelopment plans, another developer has scrapped its vision for the Del Ray North Shopping Center.

Last month, Alexandria Planning and Zoming staff got an email from MRP Realty‘s attorney indicating that that the company would not move forward with its plan to redevelop the shopping center.

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Alexandria Clerk of Court awarded grant to conserve city’s oldest records

By James Cullum
The Franklin P. Backus Courthouse at 520 King Street in Alexandria (staff photo by James Cullum)

Alexandria’s land records date back to the 18th century, and the city’s Clerk of the Circuit Court just secured more than $43,000 in grant funding to conserve those records and digitize them for public enjoyment.

This is the second year that the clerk’s office has been awarded the grant, which is made possible through the Circuit Court Records Preservation program from the Virginia Court Clerks Association and the Library of Virginia. Approximately $4.7 million was awarded to clerks offices throughout Virginia this year.

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