Southeast Housing Demand Grows

(To read more on the multifamily market, click here.)

WASHINGTON, DC-Development in southeast Washington continues at a rapid pace fueled by the recently approved Washington National’s $611-million baseball stadium currently under way and, more recently, Anacostia Waterfront projects. The common denominator to all these largely, mixed-use initiatives is a push to provide housing to as wide a variety of income levels as possible.

“There is a tremendous need for affordable housing in the Greater Washington DC area, Ryan Sfreddo, senior vice president of CharterMac Capital, a subsidiary of CharterMac tells GlobeSt.com. It is a situation worsened by annual cost of living increases, which he says are more than 20% over the national average in the city.