WDCEP Releases DC Development Report
DC Development Report: 2009/2010 Released at AMDS09
Contact: Chad Shuskey
Washington, DC Economic Partnership
December 8, 2009
The Washington, DC Economic Partnership released its annual DC Development Report at AMDS09. The report is a summary of the major development and construction projects in the District of Columbia.
New to the DC Development Report: 2009/2010 Edition is a Development Outlook chapter, provided by Delta Associates. This introduction details how the national and local economies have been affected by the economic downturn, as well as the outlook for the office, residential and capital markets.
The report also includes development activity in key sectors (office, retail, residential, hospitality & education), before & after photos of major projects, updated hot spots (Anacostia, Capitol Riverfront, Mt. Vernon Triangle/East End/Shaw and NoMa) and development trends since 2001.
- 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.
The DC Development Report is a tool used by public officials, developers, local businesses, real estate agents, investors and brokers in DC and around the nation looking to inform their clients, constituents and other interested parties about the development occurring in the District of Columbia.
Copies can be picked up at the Washington, DC Economic Partnership’s office (1495 F Street, NW) or downloaded here.
*all data as of August 2009
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.