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Has anybody else noticed the incredible amount of tower cranes on the Washington DC horizon? I mean there have always been quite a few, but in the past six months / year, it just seems like they have trippled. When you drive into the city via New York Ave, they just fill the entire horizon.
DC has to be one of the only cities with so much going on with the recession going on.
DC has been seen as one of the safest investment markets for foreign and domestic commercial real estate banks/investors. Since the rest of the county is still in a recession and their markets are still shaky all the major investors are putting their money into dc which is seen as the safest bet.
Has anybody else noticed the incredible amount of tower cranes on the Washington DC horizon? I mean there have always been quite a few, but in the past six months / year, it just seems like they have trippled. When you drive into the city via New York Ave, they just fill the entire horizon.
DC has to be one of the only cities with so much going on with the recession going on.
All those cranes are along New York Avenue because City Center DC will be opening there starting next year. Home | CityCenterDC
And that's just the tip of the iceberg. DC is going through changes that will transform the city in the next 5 years. Just ask MDAllstar. :-)
People say this a lot, but I don't see much validity in it. Will GS-13s at the Department of the Interior be renting out $4,500 apartments at Louis when it opens?
DC just has a lot of people whose jobs were not all that greatly affected by the economy. There are a lot of doctors in DC. Their jobs are not going anywhere. There are a lot of law firms in DC. Their jobs aren't going anywhere either. Then you have a lot of people who don't make that much money, but their parents may provide a solid $600 to $800 per month subsidy so they can live in the heart of Columbia Heights with two other people. Then, of course, you have people who come from around the world with money and can afford to take the $22K non-profit job and still live in Dupont Circle.
These are the people who keep the construction boom in DC going.
Considering the majority of that is private investment due to incredible demand within the core parts of the District, I wouldn't necessarily say that. Even if sequestration were to kick in, the growing private sector of DC's diversifying economy means that the people who live in the District itself will probably not experience much. I'm convinced that the suburbs will languish far more than DC if the city does plunge into a metro-level lull on account of the government.
Has anybody else noticed the incredible amount of tower cranes on the Washington DC horizon? I mean there have always been quite a few, but in the past six months / year, it just seems like they have trippled. When you drive into the city via New York Ave, they just fill the entire horizon.
DC has to be one of the only cities with so much going on with the recession going on.
You know the most crazy thing about it, DC hasn't seen anything yet. 2013 is going to blow 2011 and 2012 out the water. There will be at least 30 additional cranes if not more rising over DC next year to go along with the cranes already in the sky.
-Mt. Vernon Triangle alone will have 6 buildings breaking ground in 2013.
-SW Waterfront breaks ground in 2013 which will be as large as City Center.
-The Capitol Riverfront has 4 buildings breaking ground in 2013.
-Capitol Crossing decking I-395 downtown breaks ground in 2013 which is as large as City Center.
-Mid City/Shaw has 4 projects breaking ground in 2013.
-14th street corridor has 6 buildings breaking ground in 2013.
-etc.
-etc.
-etc.
You get the picture. People will be in complete shock at what the city looks like this time next year in 2013. DC hasn't seen BOOMING yet. But it's about to............
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