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Development in the residential market continues to be driven by strong demand. Since January 2001, more than 21,000 units of new and renovated housing units have been completed, and more than 52,000 units are in the pipeline with 18% of those already under construction.
New neighborhoods are emerging in Downtown, Mt. Vernon and East of the River. From affordable to market rate, from townhomes to multi-family complexes, the District is experiencing a housing renaissance for every residential lifestyle.
The table below highlights the significant residential development occuring in the District of Columbia. For up-to-date office development information please visit our on-line Development Database.
| Residential Development (August 2006) | | Projects | Units | Project Cost1 | | Completed in 2004 | 47 | 4,665 | $912 million | | Completed in 2005 | 44 | 3,951 | $1,080 million | | Completed in 2006 YTD | 31 | 2,753 | $855 million | | Under Construction | 83 | 9,677 | $2,822 million | | Planned | 101 | 26,894 | $9,390 million | | Proposed | 56 | 16,610 | $6,100 million | | TOTAL2 | 470 | 74,820 | $23 billion |
(1) project cost may include non-residential components
(2) Totals include 2001, 2002 & 2003 figures (not shown in table) |
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