loading...

$608,000 a Unit: The Most Interesting Statistics From DC’s Development Report

by UrbanTurf Staff

image
Apartment project planned for 800 New Jersey Avenue SE

UrbanTurf recently received the 2013-2014 Washington DC Economic Partnership report and picked out the most interesting statistics and highlights when it comes to residential development in the city. (A few retail statistics are also sprinkled in.)

Here is a quick rundown:

  • DC currently has 60 large residential projects under construction for a total of 10,253 units.
  • The most active developer in the city (not limited to residential development) is The JBG Cos. with 18 projects either under construction or in the pipeline.
  • The most active architect is Shalom Baranes with 30 projects in the works.
  • There are 8 grocery stores currently under construction in the city.
  • The three biggest retailers slated to open in the next three years are all Walmart stores (if they happen).
  • The average rental rate in DC is $2,346 a month.
  • The biggest apartment sales last year (by unit price) were both on 14th Street NW. The District sold for $608,000 a unit, followed by 14W which sold for $480,519 a unit.
  • Eight of the ten biggest residential projects completed in 2013 were in Wards 5 or 6.

For the full report, click here. For more on the residential development on tap for DC and the region, check out UrbanTurf’s Pipeline.

This article originally published at http://dc.urbanturf.com/articles/blog/the_most_interesting_statistics_of_dcs_development_report/7816

14 Comments

  1. catherine said at 3:35 pm on Wednesday November 13, 2013:

    So, where do midle and lower middle class and under the poverty line folks live these days?

  1. Wolf#6 said at 3:53 pm on Wednesday November 13, 2013:

    The same place as before…wherever you can afford.

  1. anon said at 3:53 pm on Wednesday November 13, 2013:

    Catherine, they don’t live in new condos in the trendiest neighborhoods.  DC has plenty of affordable real estate once you look past 14th Street, Dupont Circle, etc.  For instance, across the Anacostia, houses are still cheap and you can find plenty of reasonable prices in parts of NE DC.

  1. Rayful Edmond said at 4:01 pm on Wednesday November 13, 2013:

    Let me try and rephrase Catherine’s question:

    So, where do middle and lower middle class and under the poverty line folks live these days while avoiding getting shot?

  1. Chris in Eckington said at 4:11 pm on Wednesday November 13, 2013:

    Also, areas of NW DC like Brightwood and 16th Street Heights still have plenty of affordable apartments.

  1. Kevin said at 4:43 pm on Wednesday November 13, 2013:

    Sooo apparently no one has an answer to Catherine’s question? Funny and sad at the same time.

  1. C said at 5:08 pm on Wednesday November 13, 2013:

    A question for clarification on Catherine’s question, are we including those who make 6 figures but are being priced out of some neighborhoods in the low- to middle- income categories, as are included in some of the discussions that talk about affordable housing and neighborhoods?

  1. John H said at 5:46 pm on Wednesday November 13, 2013:

    Actually Kevin, Wolf, anon and Chris have all provided answers to Catherine.  When has America ever cared where the poor live?  The building industry tries to maximize price and profit and doesn’t build affordable unless there’s a subsidy.  Voters have not pushed affordable housing as a political issue - look at the 60% no on the Arlington housing authority referendum last week.  The lower classes are moving to the suburbs, places like Gaithersburg, Laurel, Woodbridge and Manassas; while the center city gets more and more expensive - just like Paris, just like Johannesburg.

  1. 202_cyclist said at 5:59 pm on Wednesday November 13, 2013:

    If you’re concerned about lack of affordable housing, you could always email/write to the DC Council, Office of Planning, and Rep. Issa’s staff and encourage them to relax the Height Act.  Either more housing will be built in locations like Georgia Ave, Van Ness and Friendship Heights ore people will move to Silver Spring, Bethesda, and Arlington, and DC will lose out all of this potential tax revenue.

  1. NoVaMan said at 10:58 am on Thursday November 14, 2013:

    Arlington County builds subsidized affordable housing. The vote was about HOW to do that, not whether to do that.

  1. Prissy said at 2:57 pm on Thursday November 14, 2013:

    Either more housing will be built in locations like Georgia Ave, Van Ness and Friendship Heights ore people will move to Silver Spring, Bethesda, and Arlington, and DC will lose out all of this potential tax revenue.

    If they’s too po’ to live in dc, they ain’t gonna provide much in the way of “tax revenue”.

  1. Height act, really? said at 4:58 pm on Thursday November 14, 2013:

    Hey 202_cyclist - if the height act is the problem how do you explain all of the one and two story buildings in prime locations that aren’t historic districts?  I think these height act arguments would hold a little more weight if we were currently built to capacity.

  1. P streeter said at 10:21 am on Friday November 15, 2013:

    uh - “height act, really?” - uh . . . zoning?

  1. Height act, really? said at 11:50 am on Friday November 15, 2013:

    P streeter - These aren’t zoning issues.  If they were, then we wouldn’t have that giant middle finger on V street, or whatever street it’s on.  If these were all zoning issues, all of those houses would still be only two stories.  If all of the houses like that were expanded (just not in such a ridiculously ugly fashion)then I would buy the argument that the Height Act is the problem.  There is plenty of room to grow DC within the limits of the Height Act.  Relaxing it will not create “affordable” housing.

Join the discussion

UrbanTurf now requires registration in order to post comments. Register here, or login below if you are already registered.

Click here if you forgot your password.



DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!

Northern Virginia

Profiles of 14 neighborhoods across Northern Virginia

Ballston
Looking to Give People A Reason to Stay Past 6pm
Clarendon
Happily Straddling the Line Between City and Suburb
Columbia Pike
Arlington’s Neglected Stepchild is Getting a Makeover
Crystal City
Turning Lemons into Lemonade
Lyon Village
Developing An Air of Exclusivity?
Rosslyn
Hitting Its Growth Spurt
Shirlington
An Urban Village Hitting Its Stride
Del Ray
Virginia’s Small Town Near the Big City
Eisenhower Avenue
The Vibrancy Might Take a Few Years
Huntington
The Quiet Neighborhood By the Beltway
Old Town
Mayberry By The Potomac
Parkfairfax
132 Commerical-Free Acres
Downtown Falls Church
Staying the Same in the Midst of Change
Tysons Corner
Radical Change Could Be On The Way

See more Northern Virginia »

Maryland

Profiles of 14 neighborhoods in suburban Maryland

Annapolis
Small-Town Living in the State Capital
Bethesda
Bedroom Community Gets Buzzing Cache
Cabin John
In With The New While Maintaining the Old
Chevy Chase
Affluence, Green Lawns and Pricey Homes
Downtown Silver Spring
Experiencing a Resurgence After a Bumpy History
Potomac
A Suburb on Steroids
Rockville Town Square
Despite the Dynamism, Still Somewhat Generic
Takoma Park
More Than a Little Bit Quirky
Wheaton
A Foodie Magnet on the Verge of Change
Capitol Heights
Kudzu, Front Porches and Crime
Hyattsville
Glass Half Full or Half Empty?
Mount Rainier
Artists, Affordable Homes and A Silo Full of Corn
National Harbor
A Development Rises Next to the Potomac
Riverdale Park
A Town Looking For Its Identity

See more Maryland »

Northwest DC

30+ neighborhood profiles for the city's biggest quadrant

16th Street Heights
DC's Sleeper Neighborhood
Bloomingdale
Where (Almost) Everyone Knows Your Name
AU Park
One of DC’s Last Frontiers Before the Suburbs
Brightwood
DC’s Northern Neighborhood on the Cusp
Burleith
DC’s 535 House Neighborhood
Cathedral Heights
Do You Know Where That Is?
Chevy Chase DC
Not to Be Confused With the Other Chevy Chase
Cleveland Park
Coming Back After A Rough Year
Columbia Heights
DC’s Most Diverse Neighborhood, But For How Long?
Crestwood
An Island of Serenity East of the Park
Dupont Circle
The Best of DC (For a Price)
Foggy Bottom & West End
Where the Institutional Meets the International
Forest Hills
Ambassadors and Adventurous Architecture
Fort Totten
Five Years Could Make a Big Difference
Foxhall Village
350 Homes Just West of Georgetown
Friendship Heights
A Shopping Mecca With a Few Places to Live
Georgetown
History, Hoyas and H&M
Glover Park
One of DC’s Preppier and More Family-Friendly Neighborhoods
Kalorama
A Posh View From Embassy Row
LeDroit Park
A Quiet Enclave in the Middle of the City
Logan Circle
Trendy Now, But Not By Accident
Mount Pleasant
Sought-After Homes Surround Main Street in Transition
Mount Vernon Triangle
From Seedy to Sought-After
Palisades
The Long, Skinny Neighborhood at the City’s Northwest Edge
Park View
It’s Not Petworth
Penn Quarter/Chinatown
DC’s Go-Go-Go Neighborhood
Petworth
Getting a Vibrancy of Its Own
Shaw
The Duke’s Former Stomping Ground
Shepherd Park
DC’s Garden of Diversity
Spring Valley
A Suburb With a DC Zip Code
Takoma
Not To Be Confused With Takoma Park
Tenleytown
Not Quite Like Its Neighbors
U Street Corridor
The Difference a Decade Makes
Woodley Park
Deceptively Residential
Adams Morgan
No Longer DC’s Hippest Neighborhood, But Still Loved by Residents

See more Northwest DC »

Southwest DC

The little quadrant that could

Southwest Waterfront
A Neighborhood Where A Change Is Gonna Come

See more Southwest DC »

Northeast DC

Profiles of 10 neighborhoods in NE

Brookland
New Development Could Shake Up Pastoral Peace
Deanwood
A Little Bit of Country Just Inside the District’s Borders
Eckington
Not to Be Confused With Bloomingdale
H Street
A Place To Party, and To Settle Down
Langdon
The Northeast Neighborhood That Few Know About
Michigan Park
A Newsletter-On-Your-Doorstep Community
NoMa
Evolving from a Brand to a Neighborhood
Rosedale
Ripe for Investment Right About Now
Trinidad
The Difference 5 Years Makes
Woodridge
Big Houses, A Dusty Commercial Strip and Potential

See more Northeast DC »

Southeast DC

6 neighborhoods from Capitol Hill to East of the River

Capitol Riverfront
Still Growing
Hill East
Capitol Hill’s Lesser Known Neighbor
Congress Heights
Gradually Rising
Hillcrest
Notable for Its Neighborliness
Historic Anacostia
Future Promise Breeds Cautious Optimism
Eastern Market
A More European Way of Living

See more Southeast DC »

Upcoming Seminars ▾