[By Paul Goddin for Mobility Lab]
The conventional wisdom is that living in the city is much more expensive than living outside of it.
Taxes, entertainment, and groceries all add up to a slightly higher cost of living in the city. Housing, though, is the expense that tips the scales decidedly in favor of the suburbs. Or does it?
With car payments and car costs at their highest levels ever, transportation costs can rebalance the scales in favor of the city. Unfortunately, most people don’t consider the cost of transportation when deciding where to live.
[Written by Paul Goddin for Mobility Lab]
A new shared-space residential project by Vornado and WeWork, approved in July by the county board, will be Arlington, Virginia’s first micro-unit project, and could be priced affordably.
The Crystal City project will be a temporary revamp of the vacant Crystal Plaza 6 office building at 2221 South Clark Street, which is scheduled to be redeveloped by 2050.
In the interim, real-estate firm Vornado will spend $40 million on the renovation, with a mid-2015 completion date. WeWork, a New York-based coworking office provider, has signed a 20-year lease on the building.