DC Development Report

Sector: Residential

The Washington metro area is the seventh largest apartment market in the U.S. with approximately 565,000 units according to the U.S. Census Bureau as of 2017. The District is home to approximately 113,400 of those units.

Total DC Households

9.3% increase (2011 – 2016) 1

Market Rate Rental Units

Class A + B 2

Market Rate Apartment Vacancy

Class A + B 2

Residential Units Under Construction

[{"data":[205,837,500,218,333,669,360],"name":"Studio"},{"data":[693,2299,2464,868,2099,1955,1108],"name":"1BR"},{"data":[385,912,825,403,671,903,328],"name":"2BR"},{"data":[10,8,19,26,44,46,8],"name":"3BR"}]
[{"data":[1148,1914,1624,2531,3020,1210,758,246,173,446,499,556,679,997,614,1011,442,202],"name":"Homeowner"},{"data":[3155,4138,2390,1004,2817,3155,2817,1460,753,3539,5023,5702,4194,5244,5210,6656,6096,4006],"name":"Rental"}]
[{"data":[591,635,1837,2128,2584,2586,1161,912,524,369,482,567,318,743,691,870,279,763,0],"name":"Homeowner"},{"data":[2920,3454,2711,1828,1399,2547,3121,2721,1385,1574,3443,3932,5991,2595,4991,6151,6536,6930,4032],"name":"Rental"}]

Top Residential Projects Completed (3Q 2017 – August 2018)

 ProjectWardLocationDeveloper(s)UnitsType (1)Est. Value ($M) (2)Delivery
1The Wharf (Phase I)
6Southwest Waterfront
Hoffman-Madison Waterfront
870
R/O
$1,326
Q4 17
2The Modern at Fort Totten
55180 South Dakota Ave., NE
Morris & Gwendolyn Cafritz Foundation
520
R$135
Q3 17
3The Belgard
633 N St., NE
Wood Partners / MacFarlane Partners
346
R$150
Q2 18
4Agora
6800 New Jersey Ave., SE
WC Smith
334
R$141Q1 18
5The Lydian
6400 K St., NW
Quadrangle Development / The Wilkes Company
324
R$138
Q2 18
6Trellis House
1907 Barry Place, NW
RISE / Gateway Investment Partners / Howard University
319
R$70
Q3 18
7Atlantic Apartment Homes
84321 3rd St., SE
WinnDevelopment
303
R$69
Q2 18
8Brookland Press
5806 Channing Place, NE
Douglas Development
295R$56Q3 17
91221 Van
61211 Van St., SE
JBG Smith
291R$100Q1 18
10Plaza West
61035 4th St., NW
MissionFirst Development / The Henson Development Company Inc.
233R$90Q2 18
1) R = rental; O = ownership

2) may include non-residential components

Top Residential Projects Under Construction (August 2018)

 ProjectWardLocationDeveloper(s)UnitsType (1)Est. Value ($M) (2)Delivery
11Riverpoint
62100 2nd St., SW
Akridge / Western Development / Redbrick LMD / Orr Partners / Jefferson Apartment Group
485R$220Q2 20
12West Half
61201 Half St., SE
JBG Smith
465R$200Q1 20
13125061250 Half St., SEJair Lynch Real Estate Partners / MacFarlane Partners439R$256Q4 19
14The Wren
1965 Florida Ave., NW
MRP Realty / Ellis Development Group / JBG Smith
433R$120Q4 20
151270 4th Street51270 4th St., NELevel 2 Development / EDENS / Trammell Crow Residential432R$150Q1 19
16AVEC6901 H St., NERappaport / WC Smith / Lustine Realty Co.419R$200Q3 19
17Square 696 (Phase I)
688 K St., SE
Tishman Speyer
400
RQ1 20
18The Garrett
6150 Eye St., SE
WC Smith
375R$170
Q2 20
191331
633 N St., NERepublic Properties Corporation
373R$220Q3 19
20Novel South Capitol
62 I St., SE

Crescent Development / RCP Development Company355RQ1 19
1) R = rental; O = ownership

2) may include non-residential components

Top Residential Projects Pipeline (Near Term)

 ProjectWardLocationDeveloper(s)UnitsType (1)Est. Value ($M) (2)Delivery (3)
21Eckington Yards
51625 Eckington Pl. & 1500 Harry Thomas Way, NE
JBG Smith / The Boundary Companies
695R / O2020
223900 Wisconsin Avenue33900 Wisconsin Ave., NWRoadside Development / Sekisui House652R / O2022
23Bryant Street (Phase I)5680 Rhode Island Ave., NEMRP Realty / B&R Associates LP490R2020
24The Parks at Walter Reed (The Brooks & The Vale)
46800 Georgia Ave., NW
Urban Atlantic / Hines / Triden Development
390R / O$1402020
25Storey Park61005 1st St., NEPerseus Realty / Four Points / Greencourt Capital472R$3302021
26Waterfront Station II61000 4th St., SWPN Hoffman / Paramount Dev. / ER Bacon Dev. / CityPartners / Affordable Housing Dev. / DMPED456R$1572022
27Press House at Union District
6301 N St., NE
Foulger-Pratt
356
R$180
2020
28The Wharf (Phase II)
6Southwest Waterfront
Hoffman-Madison Waterfront
345R/O$1,200
2022
29The Alice and Eugene Ford Senior Building
5Rhode Island Ave., NE & 14th St. & Montana Ave., NE
MidCity
331
R$90
2020
30Saint Elizabeths East (Phase I)
8Saint Elizabeths East Campus
Redbrick / Gragg Cardona Partners / Flaherty & Collins / AEDC / DMPED
312
R/O$300
2020
1) R = rental; O = ownership

2) may include non-residential components

3) delivery date may reflect phase I delivery or final phase delivery

1. Office of the Chief Financial Officer. District of Columbia and Economic Trends: September 2018
2. Delta Associates (Delta Associates only tracks institutional-grade buildings and does not include garden style or affordable housing properties)
F = Forecast based on targeted delivery dates of projects under construction as of August 2018 (WDCEP does not forecast groundbreakings).