Real estate in Washington, D. C. is now highly sought after, prime property. Real estate developers are playing a big role in the revitalization of Washington, D.C. In the past decade private investors and real estate developers have renovated both individual homes, as well as entire blocks and subdivisions.
Many young professionals are choosing to live and work in the city, and many mixed-use communities which combine housing, employment, and shopping areas along with recreational venues are being developed. The article, “Urban Development in Washington, D.C.,” lists and discusses quite a few of these multi-use communities which are being revitalized, including waterfront communities such as The Wharf, located along the Potomac River, and Anacostia on the Anacostia River, downtown properties being developed near government buildings such as the area north of Massachusetts Avenue, No-Ma, the H-Street area and the “St. Elizabeths”, as well as the and more suburban developments such as White Flint in Rockville, Tyson’s in Northern Virginia, and Town and Downtown Crown in Gaithersburg, Maryland. Many of these communities have been developed around sports stadiums or the arts or entertainment venues.
The trend in these developments is to maintain green space, and provide easy walking to offices, restaurants and retail establishments. Some of the builders working on these projects specialize in condo development. They often fill-in vacant spaces in these mixed-community developments with both new and renovated buildings offering luxury condos. The list of condo developers in the D.C. area is extensive. Other real estate developers in Washington, D. C. specialize in building restaurants, retail properties, and community-friendly entertainment properties. The Peterson Companies are responsible for building over 30,000 residential units in the D.C. area, while the Douglas Development Company has been active in D.C. revitalization for nearly three decades, participating in over 180 different development projects.
Not only do young, upwardly mobile professionals find Washington, D.C. real estate to their liking, but many government officials and celebrities enjoy the urban living renaissance going on in Washington, D.C. today. Government appointees as well as supporting staff find housing in Washington, D.C. appealing because of the proximity to the government buildings and the site of the inner workings and machinations of big government. One such example is Ivanka Trump and her husband, Jared Kuschner, who have recently taken up residence in Washington. Other notables include personalities such as Frank L. Haney, Connie Chung, Greta Van Susteren, Jim Leher and Maury Povich. There is no doubt that Washington, D. C. is an exciting, vital place to live and work.