Happy Friday, Northern Virginia!

In this week’s update:

🏗️ A $100M data center is rising in Chantilly, and it’s already fully leased. But not everyone’s thrilled. From rezoning battles to secret tenants and massive power demands, this project is stirring up more than just dust.

🚗 Fairfax just hit the brakes on its car tax deadline. A surprise vote from county leaders means residents now have more time — and fewer headaches — to handle their car taxes.

🏡 Mortgage rates hit a 12-month low, is this your window? With borrowing costs easing and signs of market movement, this dip could be just what homebuyers and refinancers have been waiting for.

🏗️ $100M Data Hub Rises in Chantilly

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Driving the news: Developer Penzance has officially broken ground on Chantilly Premier, a fully leased, $100 million data center slated to open in early 2027 in Northern Virginia’s Data Center Alley.

Details:

The facility will span 236,000 square feet across three stories.
It's being built on a 12-acre parcel near the Chantilly Auto Park.
The project was financed by QuadReal Property Group, a Canadian firm with growing investments in data infrastructure.
While tenant identities remain undisclosed, the building is fully leased ahead of completion.
Penzance secured rezoning in January 2024, despite community concerns over noise, traffic, and visual impact.

Why it matters: This move reinforces Fairfax County’s role as a major hub for digital infrastructure. The project brings temporary construction jobs and long-term tax revenue.

It also helps meet the soaring demand for data services that support everything from streaming to cloud computing, strengthening the region’s economic base in a digital-first economy.

The big picture: Virginia hosts more data centers than anywhere else globally, with Northern Virginia alone supporting a quarter of all data center capacity in the Americas.

The surge in development comes with tradeoffs: higher power demands, concerns over grid reliability, and environmental impacts like diesel generator emissions and water usage.

What’s next: Construction will continue through 2026, with an expected delivery in early 2027.

Meanwhile, other data centers, like CoreSite’s Reston expansion and Dominion Energy’s grid upgrades, signal that growth in this sector isn’t slowing down.

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Driving the news: Fairfax County’s Board of Supervisors voted unanimously on Oct. 7 to extend the vehicle personal property tax deadline to Nov. 5, giving residents extra time due to the ongoing federal government shutdown.

Details:

The original due date was Oct. 6.
No late fees or penalties will apply for payments made by the new date.
Around 80,000 local federal workers and contractors are directly impacted by the shutdown.
The extension is legal under Virginia Code, which allows up to a 90-day delay.
Supervisors left the door open to further extensions if the shutdown drags on.

Why it matters: With thousands of residents missing paychecks, this delay offers short-term relief from added financial stress. It’s a show of local support in a region heavily tied to federal employment.

What’s next: If the shutdown continues, the Board may revisit the deadline again. A proposal to study loan options for struggling residents is also in the works.

The bottom line: This move gives Fairfax residents a small but meaningful buffer, especially those stuck in the financial limbo of Washington politics.

KEEP READING→

🎥 Driving Tour of Manassas, VA: Northern Virginia's HUGE Opportunity Town!

In this video, we're taking you on a special, full driving tour of Manassas, VA! One of NoVA's boom towns, with huge job and tech opportunities!

Watch the video!

💬 Let’s Connect: Buying, Selling, or Growing Your Brand in Northern Virginia?

Whether you’re looking to move to Fairfax, Prince William, Winchester, Alexandria, Arlington, or Reston — or want help growing your business with smart, local content — I’ve got you covered.

📍 Explore homes for sale across Northern Virginia
📲 DM me on Instagram for real estate or content marketing help
💼 Visit ColganTeam.com to learn more or collaborate on your next project

🏡 30-Year Mortgage Rate Dips to 6.3%, Lowest in a Year

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Driving the news: The average rate on a 30-year U.S. mortgage fell to 6.3% this week, according to Freddie Mac, marking its lowest point in about a year.

Details:

Down slightly from 6.34% last week.
15-year fixed rates also eased to 5.53% from 5.55%.
Rates remain within a narrow range since mid-September, held in check by economic uncertainty and a stalled federal government.

Why it matters: Lower mortgage rates could boost local housing activity, potentially helping homebuyers in markets that have been slowed by high borrowing costs.

This may bring renewed opportunities for first-time buyers and a modest uptick in refinancing activity, especially if rates continue to drift downward.

The big picture: While the Federal Reserve recently cut its key interest rate, Chair Jerome Powell signaled a wait-and-see stance for further reductions. Some Fed members want faster cuts, but markets remain cautious.

The Fed’s next moves, along with inflation and jobs data, will guide the direction of mortgage rates.

By the numbers:

The 10-year Treasury yield, which influences mortgage rates, rose to 4.13%, up from 4.09% last week.
80% of homeowners have a mortgage rate under 6%.
53% locked in rates below 4%.
Adjustable-rate mortgages made up 9.5% of applications last week.
Refinancing now accounts for 53.3% of mortgage applications, despite the slight dip in total applications.

What’s next: Economists expect mortgage rates to remain in the mid-6% range through the end of the year. If inflation cools and economic data weakens, rates could see further downward pressure.

The bottom line: This slight dip isn’t a game-changer, but it’s a positive sign for local housing markets, offering a touch of relief for buyers and a potential momentum shift in sluggish home sales.

KNOW MORE→

💭 Best Things To Do This Weekend
in the NoVA/DC Area

🏎️ Race The District

Experience Union Market’s parking lot transformed into an outdoor racetrack for a four-day go-kart event. Race your friends, enjoy pop-up food vendors, and catch a live block party featuring electronic duo Louis the Child on Saturday.
📍 Location: 1309 5th Street NE, Washington, DC
📅 Date & Time: Oct 9–12, 11:00 AM – 9:00 PM
🎟️ Tickets: Starting around $41
🌐 Website: https://unionmarketdc.com/event/race-the-district

🍷 Mount Vernon Fall Wine Festival

Sample unlimited pours from 20+ Virginia wineries, tour the mansion after hours, enjoy live music, and pose for a photo with a George Washington impersonator. Concessions will be available. Members of the Mount Vernon Ladies’ Association receive a discount.
📍 Location: George Washington’s Mount Vernon, Mount Vernon, VA
📅 Date & Time: Oct 10–12, 6:00 PM – 9:00 PM
🎟️ Tickets: From ~$50 for general admission; member pricing ~ $48.80
🌐 Website: https://www.mountvernon.org/fall-wine-festival-sunset-tour

🍽️ Taste of NoVA

A two-day celebration of Northern Virginia’s culinary scene. Sample food, wine, beer, and spirits from local chefs and producers. Watch live cooking demos and attend panel discussions. This year, famed chef Patrick O’Connell will receive a Lifetime Achievement Award.
📍 Location: NOVA LIVE, 9665 Discovery Blvd., Manassas, VA
📅 Date & Time: Oct 11–12, 12:00 PM – 4:00 PM
🎟️ Tickets: Two-day passes start around $165 (early access options ~ $200)
🌐 Website: https://tasteofnova.com

MORE THINGS TO DO→

📊 Our Current Local Market Numbers

Washington, DC’s housing market is somewhat competitive. Homes average 2 offers and spend around 66 days on the market. The median home price sits near $660K, up 4.8% year-over-year, with most selling at 97.8% of list price.

For Buyers: Competition is moderate, giving you some room to negotiate. Watch for slight price dips and be ready when homes match your criteria—well-priced listings still move fast.

For Sellers: Rising prices and steady demand work in your favor. Pricing strategically and presenting your home well can help you attract multiple offers, even as market pace cools slightly.