To refresh your memory, let’s look at the facts around the new Amazon HQ2 Headquarters: Where is the new Amazon HQ2 being built? The heart of Amazon’s local HQ2 will be in Crystal City, the neighborhood of high-rise office buildings south of the Pentagon and north of Alexandria.
Amazon expects to hire 400 people in 2019 and 1,180 the next year. It expects to create a minimum of 25,000 jobs by 2030 and potentially a total of 37,850 by 2034. What will the impact be on housing costs? While we can’t know for sure - we can forecast that if housing costs go up, it will be those who rent that will be more at risk. When a city suddenly becomes popular, landlords will see it as a chance to put more money in their pockets. While Amazon won’t be moving into South Arlington overnight, now would be a great time for renters to consider homeownership. Prices are increasing in many areas of Virginia, but mortgage rates remain fairly low. If a down payment isn’t something you have access to, down payment assistance grants & forgivable loans may be a good option.
Whether you’ve had mixed emotions, or have loved the concept from the start, the new Amazon HQ2 being built right here in our own backyard can only mean great things for South Arlington. And we can’t wait to see how it all plays out!