The Washington, DC Economic Partnership released our annual DC Development Report 2013/2014 edition on November 15th, 2013 at our Annual Meeting and Development Showcase. Our November Map of the Month featured highlights from all of the industries measured in the DC Development Report, however this month’s map takes a closer look at the residential development growth occurring in the District of Columbia.
Washington had seen a sharp decline in residential groundbreakings and deliveries beginning in 2005 and 2008, respectively. Although groundbreakings rebounded in 2010 with 3,970 total units (apartment and home ownership) under active construction, it wasn’t until 2012 that those units began to deliver. In 2013, a total of 4,674 residential units are expected to deliver with an additional 6,357 units coming in 2015.
For more detailed information and to obtain a copy of the DC Development Report 2013/2014 Edition, please stop by our office at 1495 F Street, NW.