$79 Billion in Development Investments Highlighted in WDCEP Report
The DC Development Report: 2010/2011 Edition Now Available
Contact: Chad Shuskey
Vice President, Research & Visual Communications
Washington, DC Economic Partnership
November 19, 2010
Washington, DC—The Washington, DC Economic Partnership (WDCEP) released its DC Development Report today at AMDS10. The report is a summary of the major development and construction projects in the District of Columbia.
More than 135 developers, architects, contractors and economic development organizations contributed to this year’s Report. These companies represent more than $79 billion in development activity since the WDCEP began tracking projects in 2001.
This year more than 330 projects were updated in order to produce the Report, which summarizes DC’s development pipeline, details the development trends and highlights the major projects in the office, retail, residential, hospitality and education markets. The Report also showcases 85 projects with specs on the development team, construction timeline, LEED certification and design.
Key Highlights of the DC Development Report*
- By the end of 2012, DC will have more than 100 LEED projects, including 40 rated Gold and nine awarded Platinum certification.
- The DC & Federal Government account for 69% of the 5.1 million sq. ft. of office space under construction.
- DC is ranked #1 in the U.S. in total count of LEED certified buildings per capita.
- DC is ranked #2 in the U.S. in the number of square feet of green roofs installed, with more than 800,000 sq. ft.
- Developers should start construction now (in select submarkets) on residential projects in DC to catch the sweet spot of the next cycle.
Delta Associates also provided their insight in the Development Outlook chapter which details how the national and local economies are faring during the economic recovery, as well as the outlook for the DC office, residential and capital markets.
The DC Development Report is a tool used by public officials, developers, local businesses, real estate agents, investors and brokers looking to inform their clients, constituents and other interested parties about the development occurring in the District of Columbia.
Copies of the DC Development Report: 2010/2011 Edition can be picked up at the Washington, DC Economic Partnership’s office (1495 F Street, NW) or downloaded at WDCEP.com.
The DC Development Report: 2010/2011 Edition was designed by Lauren Gertzman (www.laurengertzman.com).
*all data as of August 2010
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/about.