Developing the Metropolitan D.C. Area
BISNOW May 2018: Apple Looking at Northern Virginia for a new 4M SF Campus to bring 20,000 jobs and will invest of 300M
Amazon HQ2 has shortlisted 3 sites in the Washington region. We are well placed to leverage this. We are also working closely with the development group for the short listed NJ/NY project.
Curtis Wakeman March 2018: "Washington DC is the top tech. city for Amazon HQ2 and is third overall behind San Jose and San Francisco".
"The Washington Metro region cracks the upper echelon of the US News & World Report's 2017 Best Places to Live at No. 4 out of 100 behind only Austin, Denver, and San Jose." Average salary of $65,910 versus national average $48,320. Cost of living medium. Population 5,949,403 and 3.9% Unemployment. Average age 36. Metro region expected to grow by an additional 1 Million in next 10 years. Value, desirability, and quality of life 7.3 out of 10." Clearly the one place to be on the East coast! Ac
According to Business & Finance June 2017 Top Tech Cities in the US national ranking "Washington DC Metro Area is number three out of 20 major cities behind San Jose at number and San Francisco at number 2"
The Brookings institute March 2017 stated that "The DC region has the second highest median income in the country at $46,506. It sits behind only San Jose, Sunnyvale and Santa Clara: the silicon valley"
An established and growing metropolis: DC's built-in attractions, a walkable urban plan, public transportation, and picturesque neighborhoods-make its stock rise. Just two years ago, Forbes recognized the changes and named it the "coolest city in the nation", praising the dining, entertainment, and high amenities.
The Washington, D.C. real estate market is one of the most secure in the world. When other markets suffered during the recession in 2008, metropolitan D.C. prospered. Today, it is the 6th largest city in America, and is expected to add jobs and people faster than the national average. The Metropolitan Council of Governments estimate 42% growth by 2045.
● In July 2016, rents in Washington, D.C. grew at a rate of more than twice the national average
● In May 2016, Colliers International reported that the D.C. economy will continue to grow by 14.4% over the next 5 years
● The number of deals made by foreign investors in the D.C. metropolitan area has tripled in the last 2 years, due to stable high and growing demand exceeding unit absorption
● According to the American Community Survey, from 2006 to 2014, the rental housing unit supply in the D.C. metro area grew 24%, while the rental population grew 35%. This trend is expected to continue for the next 7 to 10 years
● 7 of the 10 wealthiest counties in America are located within the D.C. metro area. The area is also America’s most educated (26% of residents have postgraduate degrees) and most employed (unemployment rate is 5.4%)
● Metropolitan D.C.’s new denizens will be young, educated, and affluent. And their demand for housing, especially multi-family rental units, will exceed existing supply
● The majority of metropolitan D.C.’s growth will be concentrated in neighborhoods such as Georgetown, Capitol Hill, Logan Circle, Eckington, and NoMa, as well as the gold coast of Arlington along the Metro line. MarBak Development’s project portfolio aligns precisely with these high-growth areas