Inside Scoop: E-Lofts & Alexandria, VA



At Galium Capital we are always looking to invest in cities with strong real estate market fundamentals and a growing economy. With the successful purchase of e-lofts in October 2018, Galium Capital expanded its real estate holdings to Alexandria, VA. Located just across the Potomac River from downtown Washington DC’s CBD, Alexandria offers a high quality of life with diverse employment opportunities, excellent transportation infrastructure and vast cultural resources to attract a highly educated workforce. Alexandria has experienced consistent growth over the past several years and currently has one of the lowest unemployment rates in the country.

Alexandria was founded in 1749 and is an independent city in Virginia. The city is home to more than 200 independent restaurants and boutiques alongside intimate historic museums. King Street, a walkable mile in Old Town Alexandria, has been recognized as one of the “Great Streets of America.” Alexandria is known as the “economic engine of the state” of Virginia.


Economic Overview:

Alexandria offers 3.8+ million square feet of existing office space with approximately 7,000 businesses and 100,000 employees. It is home to numerous government agencies and some of the largest federal contractors in the national including General Dynamics, Booz Allen Hamilton and Northrop Grumman. The arrival of Amazon at National Landing has helped diversify the region away from the federal government while becoming one of the nation’s preeminent tech hubs. Amazon is expected to add upwards of 38,000 new technology-focused jobs to the marketplace. 


Demographics:

Alexandria’s population in 2019 was 158,194, up 13% since 2010 with a median age of 38. The average household income is $140,778 with 53% of households making over $100,000. 74% of the workforce are in white collar jobs with 64% having a bachelor’s degree and 34% with a graduate/ professional degree. The average home value in Alexandria is $639,653 with 62% of homes valued at over $500,000.


About e-lofts:

When the line between home and work blurs, modern life demands a seamless solution. Galium Capital's e-lofts is an unprecedented community of sophisticated, luxury lofts that are easily configured for use as home, office or both. E-lofts was built in 2017, rises 14 stories and features 200 units which range from studio to 2-bedroom layouts. e-lofts was recognized by Delta Associates in 2017 as the Best Apartment Community complete with a high-end suite of amenities designed to stimulate a community of collaborators and friends. E-lofts offers residents cultural richness and diversity with easy access to Washington DC and the local national treasures such as historic King Street. For more information on e-lofts:

https://e-lofts.com/

© Galium Capital 2018.

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