The District of Columbia has had mixed performance over the last few months. The area has seen a tightening in the life-sciences sector of the market, but commercial and multifamily construction made gains.
The largest multifamily projects to break ground during the first six months were the $329 million Reston Next Block D mixed-use project, the $125 million Atworth College Park affordable housing project, and the $95 million Pooks Hill Road apartments. The largest commercial projects to get started through the first six months were the $940 million Digital Dulles Buildings 7 and 8 data center projects, the $400 million The Rose Gaming Resort, and the $208 million Equinix data center.
Washington DC is different from the rest of the country thanks to the high concentration of federal jobs. Federal workers aren’t subject to economic fluctuations like the private sector – the Postal Service doesn’t exactly lay off workers in recessions – so spending here remains relatively consistent. This, in turn, keeps demand high and other private sector employees working.
* Other structures include religious buildings, amusement, government communications, and public recreation projects.
– SIGN UP –
Receive a full version of our
Construction Market Analysis