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It s All Done – Just Unpack!

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$465,000 Single Family Home For Sale Main Features 5 Bedrooms 3 Bathrooms Interior: 2904 sqft Lot: 15,047 sqft Location 7016 Galgate Drive Springfield, VA 22152 To get updates on open home dates and other property events, please click the “Like” button below:

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Kim Hannemann Samson Properties (703) 861-9234 Kim.Hannemann@gmail.com http://www.KimHannemann.com Listed by: Samson Properties

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I’m sure all of you denizens of the Springfield, Virginia area are eager for news of what’s going on with the big project to redevelop Springfield Mall into a bustling multipurpose, mixed-use retail/hotel/office/residential complex, as advertised starting in about 2006.

And I wish I could tell you. I’ve been trying to keep up with this project, which is so critical to the future of the area, but . . . it’s . . . taking . . . a . . . lot . . . of . . . time.

My last post on the subject, about three months ago, included information from Supervisor Jeff McKay’s office to the effect that construction on Phase One, including a new food court, movie theater and indoor renovations, should begin in April or May. Not happening. I was there yesterday and  the only renovations to be seen are a small bit of torn up floor tiles, and a single set of the old off-white railings repainted grey, outside the interior Macy’s entrance upstairs. I’m told this work is preparatory to a test of some minor work planned for the rest of the mall interior.

McKay’s office remains confident that the project is on track because the various permit applications and meetings are continuing. The project received County rezoning approval last July, but McKay’s office says the various permitting requirements for a project of this magnitude are quite time-consuming.

The mall’s owner, Vornado Realty Trust, appears to be in strong financial condition despite the current state of the commercial real estate market. They are making a profit – unlike General Growth, the owner of Landmark Mall, who also had big plans but just went through the largest bankruptcy in US history.

However, Vornado has just this spring defaulted on mortgages for at least three projects – Springfield Mall ($164 million), High Point (NC) Merchandise Mart ($217 million) and The Cannery in San Francisco ($18 million). It is widely assumed that these defaults are strategic, designed to force the renegotiation of the mortgages for Vornado’s benefit, and that they want to continue to hold, manage and renovate the properties more or less as originally planned. That would make hardball business sense, I suppose, but it’s not the kind of dealing that would make me pleased to have Vornado as a major player in my town.

Update 5/12/2010:  A scenario for your consideration – Vornado’s mortgage on the Mall is nonrecourse debt, meaning Vornado is not liable for making its lenders whole if the property is worth less than the mortgage. This is different from residential mortgages in most places, where the lender can file a judgment against you if you default, and recover losses from other assets you might have or acquire.

So, commercial property goes into general decline (which it has), plus Vornado “manages” the property in such a way as to make it less valuable – i.e., by losing most of the tenants, which seems to have been accomplished. (Remember, the anchor stores – Target, Macy’s Penney’s – are not tenants; they own their stores.) Then, Vornado defaults on it’s now much-less-valuable property – or threatens to. The lender, faced with renegotiating the debt or taking a possibly even bigger loss through foreclosure and resale, is now over a barrel – even if it forecloses and sells the property to the highest bidder, the highest bidder could still be Vornado or some shell company they own.

Hmmm . . . .

More news as I get it.

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Landsdowne is a community of 619 homes — a mix of classically styled single family dwellings and three different sizes and styles of townhomes. Builders included Pulte Homes and Richmond American Homes. Landsdowne is located 3 miles south of Springfield Mall and 5.5 miles south of the Capital Beltway/Alexandria, convenient to Fort Belvoir, Kingstowne, Olde Towne Alexandria, and Springfield.

The community offers easy access to Interstates 395/495 and to the Franconia-Springfield and Van Dorn Street Metro stations. Bus service is also available in the community. Landsdowne residents enjoy an easy commute to all regional employment centers. Landsdowne offers a swimming pool, tennis and basketball courts, several tot lots, a multi use court, and our walking path. Many beautiful park style seating areas are located throughout the community.

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Island Creek is a planned community of single-family homes, town homes and condominiums in southeastern Fairfax County, Virginia. Located off Beulah Street, Island Creek is less than 3 miles from the Franconia-Springfield metro station and Fort Belvoir. Island Creek’s amenities include a community pool, 4 tennis courts, several basketball courts and children’s play areas conveniently located throughout the community. Island Creek Elementary School is located within walking distance of the community. The Springfield and Landmark Malls, the Kingstown Library and post office, two day care centers, schools and three (soon to be four) major food stores are all within 10 minutes driving distance.

The Kingstowne Towne Center houses a Safeway, a movie theatre, Community Bank, Macaroni Grill, Chipotle, several restaurants, Panera Bread, Wolf Camera, T.J. Maxx, Home Goods and World Market. Across the street next to the post office are a Toys-R-Us, Kohls, Walmart, and La-Z-Boy. A mile south on Beulah Road is the Landsdowne Center with several good shops and restaurants, and a Wegmans supermarket is under construction (est completion 2012).

The tract of land that Island Creek is built on was part of the Hunter Tract – 1000  acres of land granted to John Thomas before 1678 and one of the first Royal Patents in Fairfax County. The land grant was adjacent to the Long Branch creek and the whole general area was referred to as Island Creek in 1694, possibly due to its location within Accotink, Dogue and Long Branch creeks.

Daniel McCarty purchased the site  in the early 18th century. The land is situated very near the ruins of the ancient Truro Parish Glebe, later becoming Pohick Church. The land was originally surveyed by John West. Some of the other 18th century landowners in adjacent areas were James Whaley, Richard Chichester, William Fairfax, Charles Green and Thomas Ousley.

In an 1878 survey, the local residents were Samuel Nevitt, Fred Graves, E. Cash, George Wiley and Mrs. Lamoyne. The present tract is very near the old Long Branch Station on the Alexandria and Fredericksburg Railroad. Many of the street names within the community are also based on these historic references.

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Amberleigh is a tree-lined community of nearly 500 town homes in Fairfax County, Virginia, between Springfield and Kingstowne. The community has easy access to Interstates I-95, I-395, I-495 and the Fairfax County Parkway, as well a ten minute walk to Washington’s Metrorail System, and the Virginia Railway Express, providing an easy commute to the Washington area’s major employment centers.

Although convenient to town, Amberleigh is nestled back in a wooded area, giving the community a small town feel. Amberleigh is an ideal location to live for professionals in the big city as well as families with small children. The area is a quiet and comfortable setting to relax after a hard days work as well as a great park-filled place to raise children.

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Lee District Supervisor Jeff McKay emailed today to say that Fairfax County supervisors voted today to spend $10 million to ease congestion at two of the worst intersections near Fort Belvoir.  Telegraph Road will be widened from two to four lanes between South Kings Highway and South Van Dorn Street.

During rush hour, drivers routinely spend 20 minutes waiting to pass through the two Telegraph Road intersections, just hundreds of feet apart, said Supervisor McKay, who pushed for the road improvement. ”There was an enormous growth in traffic after Sept. 11 that hasn’t let up at all,” he said. “It’s Armageddon out there. Without this, you would have a situation that is completely unbearable.”

Citing security concerns, the U.S. Department of Defense after the Sept. 11 attacks shut down Woodlawn Road, a public road within the fort, causing traffic to double on Telegraph Road. Route 1 and Telegraph Road are the lone major roadways near the base. The military’s Base Realignment and Closure program is expected to bring thousands more people — and vehicles — to the area beginning in September 2011.

The $10 million effort will affect about 1500 feet of roadway. The widening was originally a Virginia Department of Transportation project, but state funding disappeared in the wake of budget constraints.

McKay said the expansion would begin in the summer of 2011, at the earliest. Citizen meetings will be held this summer, with a public information meeting in late September. Because federal funds are involved, the National Environmental Policy Act (NEPA) requires an environmental document be approved by the Federal Highway Administration (FHWA).

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I have a rant today. I could have one everyday, but I try to keep the published ones reasonably spaced. Here goes:

Where and how in today’s society do you learn that the proper place to dispose of unneeded or unwanted furniture – sofas and the like – is in the median of the Franconia-Springfield Parkway? I would show you a photo, but some public-spirited citizen or agency has arranged it’s quick removal.

And, how on earth do you figure out that by the side of any random road – except in your own neighborhood, of course – it’s perfectly OK and in fact encouraged to toss your bags full of trash and garbage. Or your ripped mattress. Or the empty bottles of beer you drank while driving down said random road texting your girlfriend . . . oops, my mistake, those are thrown in the middle of said random road.

No, dammit, it’s not OK. It’s classless, unconscionably arrogant, and displays a selfishness, laziness and immaturity so vast I can’t conceive of words enough to fully describe it. Jackasses.

Perhaps you go to (or come from) a similar place where you learn that, to advertise your business, you illegally staple garish 18×24″ placards to as many road sign posts as you can find – that’s why the VDOT put them there, right? So you can advertise your el cheapo granite countertops, or your summer karate school, or perhaps your tax business. Ever used a powerwasher? Gee that’s good for half a dozen different signs.

And let’s not forget, we simply must tell everyone who drives over the American Legion Bridge in Springfield that just around the corner is an “Air Condition Laundomat.” A fine use of an otherwise pointless VDOT traffic directional sign.

Sometimes, though, the signs have so much great copy on them it’s hard to tell if you’re peddling “affordable car insurance” – finally! – some sort of mortgage scam, or just trying to find that incredibly elusive “real estate investing apprentice” you want to pay $20,000 per month. Amazing, all those signs and apparently you still haven’t found that apprentice! So much for an unemployment problem!

Today I drove past a veritable field of yellow signs with red printing that said “Flintstone” . . . something something something.” All I could think of was Fred, and a friend of mine who used to amaze me with his ability to perfectly draw him. And, of course, that your damn stupid illegal yellow signs were going to be littering the median at Popes Head Road until whenever VDOT finds the time and money to cut the grass and throw them away.

Campaign signs? I know, they’re legal (mostly) and they are taken down with in two weeks after the election. Real estate directionals and Open House signs? Hey, I’m an agent, I use them – but they come down when the house is sold or the open house is over. Yard sales? Fine, but not stapled on the road signs, and they come down at the end of the day.

I must confess that I have, on occasion, exercised a form of vigilantism, taking the law into my own hands by removing an advertising placard nailed to our local STOP sign. VDOT has enforcement powers, and there is a fine of $100 per sign, but VDOT doesn’t have anyone to do the enforcement, nor have they authorized the county to do it. So it’s basically up to us. Any volunteers?

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The Kingstowne Farmers’ Market runs from  May 7th through October 29th, every Friday from 4 PM to 7 PM in the parking lot of the Kingstowne Town Center.

The Farmers’ Market is supervised by the Fairfax County Park Authority through the Community Horticulture office based at Green Spring Gardens. The daily operations of the markets are managed by volunteer Market Masters.

The market also hosts Fairfax County Cooperative Extension Master Gardener Plant Clinics. Citizens can bring plant or insect samples for pest identification or disease diagnosis. Master Gardeners also help citizens by having informational displays on topics such as Container Gardening or EcoSavvy Gardening.

All products sold at the Farmers Market are produced by the vendors within 150 miles of Kingstowne. Buy local and support sustainable agriculture in the Chesapeake Bay watershed. You will find the freshest and most desirable fruit, vegetables, plants, baked goods, eggs, dairy and meats available.

The Market welcomes the following vendors this year:

• A Bit More (sweets and specialties)
• Allenberg Orchard (fresh vegetables and fruit)
• Bees n’ Blossoms (honey and a variety of products made with beeswax and pollen)
• Cenan’s Bakery (bread, spreads and an assortment of pastries)
• Chesley Vegetable Farms (fresh vegetables and fruit)
• Cibola Farms (bison, free range pork, eggs and other meats)
• Colonial Kettle Corn (kettle corn)
• C&T Produce (fresh vegetables and fruit)
• Level Green Farm (fresh vegetables and fruit)
• LynValle Studios (cut flowers and bouquets)
• Medina’s Produce (fresh vegetables and fruit)
• Middleburg Creamery (ice cream and lemonade)
• Mt. Olympus Berry Farm (fresh vegetables and fruit)
• Salsa las Glorias (salsas and chips)
• Smith Family Farm (beef, chicken, pork, lamb, sausage, eggs and other meats)
• Susie’s Cookies (specialty cookies)
• The Brownie Brittle Co. (chocolate “brownie” pieces)

Most of these vendors are veterans of several years at the Market.