Montgomery and Prince George’s counties together house more than 2 million residents — far greater than the population of neighboring Washington, D.C. — but these suburbs are falling behind the rest of the region in building new multifamily housing.
Beyond the macroeconomic headwinds slowing construction and the local disruptions to the D.C. region this year, these counties are struggling to add new housing due to regulations that have scared away investors, several real estate executives said last week at Bisnow’s Multifamily Annual Conference East.
“Maryland is actually the most constrained place we operate in America today,” AvalonBay Communities Chief Investment Officer Matt Birenbaum said on stage at the Bethesda North Marriott Hotel & Conference Center.
After he uttered those words, a heavy silence fell over the ballroom.
Click here to read the rest of the article written by Emily Wishingrad over at Bisnow
