The Future of DC’s Economy, How Creativity Will Drive Growth

Written by on December 1, 2009

Annual Meeting and Development Showcase, keynote speaker James Chung: “How will the world be different after the downturn?”

Contact: Andi Joseph
Director, Research & Communications
202.661.8678
ajoseph@wdcep.com

December 1, 2009

Washington, D.C.—The Washington, DC Economic Partnership’s (WDCEP) 2009 Annual Meeting and Development Showcase (AMDS) provides an overview of real estate development activities in the District which includes proposed, planned, projects under construction, and newly completed projects. The meeting is a platform to celebrate the $73.6 billion of development activity in the District. AMDS09 will feature the District’s ability to remain at the cutting edge of emerging opportunities, despite the nation’s tough economic climate.

Keynote Address will be provided by James Chung, President of Reach Advisors, who rocks the business world’s perceptions of Generation Y and Boomers, delving into the turbulent landscape of shifting consumer behavior and how it is changing as a result of the current economic downturn. An original thinker, Chung challenges long held notions regarding how Americans live, play and work–especially now, and especially for DC. Chung will address How the World Will Be Different After the Downturn.

The WDCEP also releases one of its most popular annual publications at AMDS – The DC Development Report. The 2009/2010 edition features data on more than 1,170 development projects in DC, as well as development trends and neighborhood “Hot Spots”. Key Highlights (all data as of August 2009) include:

  • The DC condo pipeline is small, with shortages expected by the end of 2010. Developers should be looking to start construction soon to deliver in mid-2011.
  • By the end of 2011, DC will have 75 LEED projects, including 23 rated Gold and five awarded Platinum certification.
  • Only three office projects have started construction since the beginning of the year. However, eight additional projects, totaling 3.3 million sq. ft. are expected to break ground by the end of 2009.
  • In the next 20 months DC will add two more grocery stores and two Safeway stores will have undergone major expansions.
  • The majority of hospitality projects under construction are DC libraries or community centers.

Who: Washington DC, Economic Partnership, area developers, business professionals, architects and local government officials

What: Annual Meeting and Development Showcase

When: December 4, 2009 from 10:00 a.m. to 2:00 p.m.

Where: Washington, DC Convention Center

To register for a press pass, please contact Andi Joseph at ajoseph@wdcep.com or 202-661-8678

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The WDCEP is a 501(c)3 non-profit, public/private partnership dedicated to promoting business opportunities throughout DC and contributing to business retention and attraction activities. For more information visit www.wdcep.com.

Posted Under: Press Releases