The redevelopment of a public surface parking lot in downtown Bethesda into a 12-story apartment building with up to 59 units is progressing following approval from Montgomery County planners. Led by Broad Branch Partners of Washington, D.C., the project includes the creation of a public park, which will be integrated into the downtown Bethesda Eastern Greenway as part of the 2017 Bethesda Downtown...
Real Estate News
A new residential project is in the works for downtown DC that aims to revitalize an underdeveloped alley and outdated office space in the West End neighborhood. It has been learned that ONE Street Commercial Properties is planning to transform the former office buildings at 2121 Ward Place, 2112, and 2115 Ward Court NW into a 48-unit apartment complex, complete with two café/retail...
Three commercial-to-residential conversion projects have been conditionally awarded tax abatements, as D.C. pushes for new residential development and residents downtown.Through the District’s Housing in Downtown program the conditional tax abatements will go to conversion projects at 1625 Massachusetts Ave. NW, 1825 and 1875 Connecticut Ave. NW, and 615 H St. NW, Mayor Muriel Bowser said...
Another small office building in Northern Virginia will be replaced with a substantial new residential development. The Meridian Group has plans in the works to replace a five-story office building at 2500 Wilson Boulevard with a 16-story residential building with 323 apartments. The development, designed by Studios Architecture, will also have 18,000 square feet of ground-floor retail and...
Supply may be steadily increasing, but list prices continue to rise throughout most of the area. The median list price was $415,000 for the week ending September 1, which is 5.1% greater than the same week in 2023. Fewer sellers are dropping their asking price as we head into September, which suggests sellers still feel like they have the upper hand.There were 5,429 new listings in the area...
On Thursday morning, Mayor Muriel Bowser announced the three office-to-residential conversion projects that have been conditionally awarded tax abatements through DC's new Housing in Downtown program. Those projects will likely be familiar to UrbanTurf readers, as they include:A 157-unit residential conversionplanned for the former headquarters of the Air Line Pilots Association...
How does the market looks? Housing Market trends Condo inventory back to pre-pandemic levels, while the supply of single-family homes remains tight. The overall number of active listings across the Washington D.C. metro area surged 28.1% compared to a year ago, the sixth consecutive month of inventory gains. The condo inventory has increased much more quickly, and the condo supply is now back to...
New listings surge after a slow week. The week ending July 14 had 6,421 new listings come onto the market, a 36.0% surge from the holiday week. The number of new listings is 11.6% greater than the same week last year. Supply has generally been increasing since the beginning of the year, though inventory is still low in many local markets. New contracts are not increasing with supply. There were...
As we reach the midpoint of 2024, the Commercial Real Estate (CRE) market continues to exhibit diverse trends across different sectors. Here’s a detailed analysis of the current state of the office, retail, and industrial markets, shedding light on the challenges and opportunities that lie ahead. Office Sector The office sector remains under pressure, with net absorption still in negative...
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