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July 29, 2024

Bowser Claims Victory On Goal Of Adding 36,000 New Housing Units To D.C.

Heads-Up: Price Will Increase Soon For DMV Capital Markets & CRE Finance Sept. 19

Despite a pandemic, supply chain crisis and run-up in interest rates, D.C. has accomplished the housing production goal Mayor Muriel Bowser set at the start of her second term, her administration announced Monday.

Bowser Claims Victory On Goal Of Adding 36,000 New Housing Units To D.C.

The District has added more than 36,000 new housing units since 2019, hitting the number before its target year of 2025, Bowser said in a press conference at D.C.'s new Department of Housing and Community Development headquarters in Ward 8. The majority of those new units are luxury rentals and condos. D.C. hasn't yet hit…

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This Week's D.C. Deal Sheet

An apartment building under construction next to Audi Field has inked its first retail tenant.

This Week's D.C. Deal Sheet

Gold’s Gym is taking 20K SF on the ground floor of Toll Brothers’ Vermeer, a 501-unit development slated to open this winter. “With Vermeer’s luxury multifamily residences and Gold’s Gym’s renowned fitness offerings, we expect to make a significant positive impact on the development of this neighborhood,” Matthew Anderson, director of development…

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With First New Apartments In 14 Years, Friendship Heights Looks To Shed Its Elderly Reputation

With First New Apartments In 14 Years, Friendship Heights Looks To Shed Its Elderly Reputation  

D.C. Council Member Matt Frumin remembers a comment that stuck in his head about the perception of Friendship Heights among young people.

It came from a respondent to a study that D.C. conducted in partnership with the Urban Land Institute in 2021 aimed at reimagining the neighborhood. 

"One of the participants said, 'I don’t want to go to Bethesda because I’m worried I’ll bump into my parents. I don’t want to go to Friendship Heights because I’m worried I’ll bump into my grandparents,'" Frumin said. "There is an element of a naturally occurring retirement community in this area, but it can be way more than that."

Part of the reason the neighborhood has gotten this reputation is because it has had no new multifamily development since 2010, making it difficult for young professionals and families to move into the area, several local leaders and developers said Thursday at Bisnow's Future of Friendship Heights & Chevy Chase event.  "No other…

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Data And AI Are Reshaping How Retail Developers Understand Their Shoppers

Data And AI Are Reshaping How Retail Developers Understand Their Shoppers  

At the American Dream megamall in New Jersey, each customer is a data point. 

Where they park their car, the path they take around the mall and each time they spend money informs the shopping center’s chief operating officer, Paul Ghermezian, of adjustments to make. And he is constantly sorting through the data.

“There's always going be that human element, but you're doing yourself a massive injustice whenever you're not embracing whatever is the newest and best and latest creative technology,” Ghermezian said Thursday at Bisnow’s National Retail Conference.

As artificial intelligence becomes more accessible, the real estate industry is exploring how to integrate it into properties across the country. On the retail front, the store of the future is here, and developers want to bring it to shoppers everywhere, property owners, architects and construction experts said…

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