A new 290-unit rental project planned for 1244 South Capitol Street SE.
UrbanTurf recently received the 2015-2016 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 and hospitality statistics are also sprinkled in.)
Here is a quick rundown:
- There are 22 million square feet of development in the works around the NoMa/Gallaudet University Metro station.
- DC currently has 61 residential projects under construction that will deliver in 2016 and 2017, for a total of 10,400 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 31 projects in the works.
- There are six grocery stores currently under construction in the city.
- The average daily room rate for a hotel is $215.
- The Downtown-Logan Circle sub-market had DC’s highest effective rental rate for apartments in the second quarter of 2015 at $2,466/month.
- 70 percent of the largest residential projects completed in the city in 2015 were in Wards 5 and 6.
- The average size of a one-bedroom in the early 2000s was 850 square feet. That has dropped to 725 to 750 square feet today.
For the full report, click here. For more on the residential development on tap for DC and the region, check out UrbanTurf’s Pipeline. Lastly, check out the Post’s Jonathan O’Connell’s piece today on the amount of development going up near Metro stations in the city.
This article originally published at http://dc.urbanturf.com/articles/blog/22_million_square_feet_the_most_interesting_statistics_from_dcs_development/10529
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