![]() 80% of these development starts were residential projects totaling more than 4,000 units. ![]() In 2020, during the COVID-19 pandemic (March 2020–December 2020), 4.6 M SF of groundbreakings occurred in the District. Elizabeths (8 M SF), Anacostia and Barry Farm (4.5 M SF), and Minnesota & Benning (2.6 M SF) are anticipated to experience significant growth over the next decade. In 2020 groundbreakings totaled 6.5 M SF, the lowest figure since the Great Recession in 2009 (4.3 M SF).ĭevelopment continues to head east and areas such as St. Highlights from the 2020/2021 Washington DC Economic Partnership report:ĭuring the past 20 years, the District has experienced more than 216.5 million SF of new development resulting in 65.5 million SF of new and modernized office buildings, 91,500 housing units, 21,200 hotel rooms, and nearly 10 million SF of retail space.įrom 2010–2019 the District averaged 11.6 M SF of development starts. It interprets that advocacy role broadly – to not only give voice to the specific concerns of its members, but also to speak out in support of public policies that promote the economic growth and vitality of the nation’s capital. Over the years, DCBIA has achieved a prominent position in the local business community as an advocate for a vigorous, responsible real estate industry.
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