(To read more on the multifamily market, click here.)
WASHINGTON, DC-Development in southeast Washington continues ata rapid pace fueled by the recently approved Washington National's$611-million baseball stadium currently under way and, morerecently, Anacostia Waterfront projects. The common denominator toall these largely, mixed-use initiatives is a push to providehousing to as wide a variety of income levels as possible.
"There is a tremendous need for affordable housing in theGreater Washington DC area, Ryan Sfreddo, senior vice president ofCharterMac Capital, a subsidiary of CharterMac tells GlobeSt.com.It is a situation worsened by annual cost of living increases,which he says are more than 20% over the national average in thecity.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
