A Tale of Two Cities

The Arlington Ridge subset of Pentagon City holds a number of older condominiums, including Horizon House, The Representative and The Ridge House. Iallonardo's building is nearly 50 years old. Because his particular unit had not been refurbished in 20 or 30 years, he did have to spend about $15,000 for new floors and kitchen and bathroom renovations.

But he considers the extra effort a bargain for the location. "In my mind, Pentagon Row is sort of my patio -- the one that I wish I could afford," Iallonardo said. "The prime factor for me, living in Arlington in general, is the ease with which I can get into the city for work and get out of the city. In addition, [I like having] the ability to own a car and know that I won't have to pay an exorbitant amount to park it."

Iallonardo's walk to the Pentagon City Metro station takes less than 10 minutes. Most of his trek goes through the Fashion Centre at Pentagon City, a shopping mall attached to the Metro. Anchored by Nordstrom and Macy's, the mall is another draw for many residents and visitors.

Some Realtors say the demand for lower-priced condos like Iallonardo's will grow, especially as suburban baby boomers retire and downsize their homes.

Aaron Seekford, a native of Pentagon City and Realtor, said, "When I deal with a typical buyer, yes, everybody likes new, but when you start looking at the [larger] square footage [in Pentagon City], sometimes you start looking at that and say, well ... I can update the kitchen."

Seekford said his clients also seem concerned about investing in new construction at the peak of the condo-buying wave and wonder if the new units they see in Ballston and Rosslyn are priced fairly. In Pentagon City or Crystal City, "you're definitely going to get more for your money, but you're going to have to put up with remodeling to come out a little bit ahead," said Seekford, who goes by the moniker "Mr. Arlington" at his father's Arlington Realty brokerage.

There are a few new condos in the Crystal City/Pentagon City market. The Grove at Arlington Square, off I-395 at Glebe Road, was converted into a condo building earlier this year after initially opening as a rental property in 2003. There is free bus service from the property to the Pentagon City Metro stop. More than 150 units are still for sale, with one bedrooms starting at $324,900 and two bedrooms from $396,900. Marianna Klaiman, spokesperson for The Grove's developer, Athena Group, said the company invested in the 190-unit property because it was the most public-transit accessible out of all the communities along the I-395 corridor inside the Beltway.

The 465-unit Eclipse on Center Park, which offers wraparound views of downtown Washington monuments and the Potomac River, delivers this fall. Fifty-five units remain at the property, situated between the new Crystal City Streetscape development and Reagan National Airport.

Adjacent to the busy Potomac Yard retail center, Eclipse sits on top of a Harris Teeter supermarket. Proximity to flights -- and fresh vegetables -- might explain how briskly units here are being snapped up: Sales have averaged more than 25 units a month since May 2005. Remaining units are priced from the low $400s to more than $1 million.

Jerry Norris, a longtime occupant of Crystal City's Buchanan apartment building, just purchased one of the units at The Eclipse. His condo is minutes up the road from the new development.

After retiring from the Navy in 1992, Norris moved to the area to start a Crystal City-based defense contracting firm. By the time he felt established enough to buy a home, he was not thrilled with the selections in the neighborhood's older condos. The big ones -- Bella Vista, Waterford House and Crystal Park -- had all gone up in the 1980s. The Eclipse's delivery schedule was ideal for him. He signed a contract for a two bedroom in the mid $700s last Christmas.

"I was not going to move away to a location that would mean commuting. I didn't desire to change the lifestyle that I had grown to thoroughly enjoy," said Norris.