(Read more on the multifamily market.)

ROSSLYN, VA-Kathleen Webb, executive development officer for JBGCos., tells GlobeSt.com that she is confident the FAA willultimately approve its plans to build what will be, at 30 and 31stories, the two tallest buildings in the Washington, DC area. "Wethink the chances are fairly high that we will receive FAAapproval," Webb says. "The residential building was approved in2006; it was the office building about which they raised concerns.We have appealed that and the public comment period closed inFebruary. So now we are just waiting for their revisedcomment."

The FAA originally expressed concern over the height of thebuildings due to the developments proximity to the Ronald ReaganNational Airport, which means planes will routinely fly near thebuildings in order to land. Should the FAA approve the project, thedeveloper would basically have a green light to commenceconstruction.

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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.