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

  • November 13, 2013

by UrbanTurf Staff

$608,000 a Unit: The Most Interesting Statistics From DC's Development Report: Figure 1
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

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