Downtown D.C. could nearly quadruple its downtown housing inventory by repurposing federal buildings and private office space and developing underused parcels, according to a new report.
Commercial real estate services firm CBRE, in coordination with the Office of the Deputy Mayor for Planning and Economic Development, detailed opportunities for the District to take its downtown housing stock from 20,000 to 80,000 units in a study released Thursday during during an event at Georgetown University’s McCourt School of Public Policy. The study defined downtown as extending from the West End, Foggy Bottom and the E Street Expressway to Union Station on the east.
“Washington has the unique position of opportunities to materialize just with a few different decisions made by federal agencies or other public sector entities,” John Stephens, CBRE’s senior director of Americas consulting, said during the event hosted by Mayor Muriel Bowser and DMPED. “We should pull that lever.”
Click here to read the rest of the article written by Ben Peters over at Washington Business Journal
