Hot Topics in DC Commercial Real Estate
Generally considered the top U.S. cities to invest in, New York and Washington have moved to the top of the global market in terms of attractiveness, according to an AFIRE survey of foreign investors in the first quarter of this year.
Mayor Adrian M. Fenty announced today that the city will not build a new downtown library on the site of the old convention center and instead has reached an agreement with a developer to construct a four-star, 400-room hotel on the prime downtown parcel. Hines-Archstone-Smith will develop the entire 10-acre parcel of land where the old convention center once stood. Hines-Archstone-Smith is already under contract to build an $850 million residential, office and retail project on the rest of the 10-acre parcel once occupied by the old convention center. The mixed-use project, unveiled in December, will feature shops, condos and office space along about six acres bounded by New York Avenue and Ninth, H and 11th streets NW. The hotel parcel sits to the north of the mixed-used site.
Our workforce holds a central place in the knowledge economy, and it is facing some crucial questions in this turbulent economy, even as the region enjoys a very low unemployment rate, about 3.3 percent as of March, below the national average
Washington DC: Best Commercial Real Estate Market for 2008 (more...)
The Urban Land Institute states: in its report: “The government never stops and the ever churning Washington real estate market cushions against abrupt downturns.”
Offices, industrial buildings, and rental apartments are a good bet as our nation navigates through these rough economic waters.
The commercial real estate industry is slowly but surely embracing sustainable business practices and green technologies, according to an analysis of the industry by Progressive Investor