Posts Tagged ‘Washington Business Journal’

D.C. Housing Authority Director Takes New York City Job

New York City mayor Michael Bloomberg has just announced he's grabbing one of the Washington's own, Michael Kelly, to head up public housing in New York City.
In mid September, Kelly announced he was leaving his post as executive director of the D.C. Housing Authority, a job which he'd held since 2000.
In Washington, he oversaw 8,000 [...]

DC Council Kills General Vacant Property Tax Rate

Mid-summer, amidst many tax increases, the D.C. Council preliminarily approved a move to decrease the tax rate on vacant—often troublesome—properties. According to Councilmember Phil Mendelson, the higher rate was "actually mak[ing] it difficult for some property owners to sell or put their property back to use.”
Maybe so. But the decision wasn't exactly a crowd-pleaser. At [...]

KB Home Coming Back to D.C. Market

After writing about the demise of Georgetown advertising firm Hammer Communications, I'm keenly aware of the misfortunes of America's big builders. Until this year, Hammer was seemingly swimming in cash from builders slowly gobbling up land across the Washington D.C. region. But when the housing crisis hit, the losses mounted.
Take, for example, national company KB Home. [...]

Harris Teeter Coming to the Capitol Riverfront?

Apparently, I missed this tasty news bite: Harris Teeter has signed a letter of intent to open a store in the Capitol Riverfront area (otherwise known as Navy Yard/the Nationals Park neighborhood), the Washington Business Journal reported on Monday. 

D.C. Condo Prices Down 2.6 Percent in the Last Year

The Lacey, a boutique 26-unit condo building at the corner of 11th and Florida NW, has released another set of price drops after a previous round in May (see below the jump). Over the weekend, someone asked me how the condo market was faring, and whether prices in D.C. had dropped substantially. Well, Delta Associates [...]

Changes to Land Agreements Passed Inside Budget

City Administrator Neil Albert claims that we'll "never get anything done in this city,” thanks to new changes in the approval of land disposition agreements.
But the adjustments just seem to ask for more openness and transparency from the beginning when it comes to developers' side of the bargain. How bad could that be? Judge for [...]

Washington D.C. Foreclosure Filings Jump 42 Percent

Looks like the bottom of this sign was ripped off: "Even the signs are distressed," reads the photo caption.
The Washington Business Journal is reporting that foreclosures in the city jumped 42 percent, comparing April 2009 to April 2008. That brings us to 398 properties.

Student Housing, the Newest D.C. Real Estate Boom?

The rendering of the new dormitory/classroom building by Hickok Cole Architects
Okay, maybe "boom" is going a little too far. But between the huge expansion of George Washington University over the years, the $38 million student facility being built in NoMa, and now this New York University news, it seems student housing is presenting some great [...]

Another Sign of the Real Estate Slowdown…

There are fewer people working in the industry, the Washington Business Journal reports. It's hard to know specifics, but the loss is there:
Conventional wisdom — and common sense — says that virtually every company in the real estate industry has laid off at least some employees. Still, calls to many companies rumored to have [...]

Developers: What Now?

The Washington Business Journal has a series of articles out today about the state of the local market and various construction projects in the area. How many cavernous holes are we going to be looking at in the next few years? Hard to know, considering that developers won't reveal their financing plans. "Of course, that [...]