It’s been a great year for real estate in DC so far. There’s plenty of new residential construction and lots of property sales.
From October 2012 to July 2013, the District issued permits for 3,328 housing units. When the numbers for the entire fiscal year are in, it will likely surpass the 4,091 permits issued in 2012, which was an increase over the 2,459 issued in 2011. These are both significant improvements over the 499 building permits issued in 2009.
Most of the permits are for construction of DC apartments. AvalonBay Communities, Inc. recently received permits for a 436-unit apartment building at 55 M Street in Northeast. This is an addition to an existing apartment building at 1160 First Street, NE in NoMa called Archstone First and M. The…
