DMV 2026 Economic and Political Forecast

Prior to joining CREFC as President & CEO in 2016, she was CREFC’s 2010/2011 President and a member of CREFC’s Board of Governors for over nine years. Ms. Pendergast has 30 years of industry experience in the structured-finance real estate markets. She has been a top-ranked research analyst in the highly competitive Institutional Investor All-American Fixed-Income Research Team and Orion surveys in the CMBS category. Prior to CREFC, Ms. Pendergast was employed by Jefferies LLC as a Managing Director, where she was head of CMBS Strategy and Risk in the Fixed Income Division’s MBS/ABS/CMBS Group. Before joining Jefferies, Pendergast was a Managing Director in the Fixed-Income Strategies Group at Greenwich Capital/Royal Bank of Scotland, where she worked for eight years. Ms. Pendergast enjoys golfing and long-distance road biking, and spending time on the beaches of Rhode Island with family and friends.

Kathy E. Hollinger serves as the CEO of the Greater Washington Partnership (GWP), a first-of-its-kind alliance uniting leading employers across Maryland, Virginia and Washington, DC to collaborate in building a vibrant, economically competitive, and prosperous place to live, work and build a business. Prioritizing the economic growth of the region, Kathy directs GWP in its mission to catalyze collaboration, convenings, thought leadership, and collective action. She connects stakeholders across public, private, and nonprofit sectors to address shared opportunities and challenges in some of the region’s most pressing issues, including skills and talent, regional mobility, infrastructure, and economic growth and innovation. Through strategic alliances, focused investments, and pioneering initiatives, she relentlessly works to find practical, impactful, and visionary solutions to the region’s challenges. Prior to GWP, Kathy led the Restaurant Association Metropolitan Washington (RAMW) and its Educated Eats Foundation as President and CEO. Her tenure marked a period of dramatic growth for the region’s food service industry, culminating in national recognition including Bon Appetit’s 2016 Restaurant City of the Year, ZAGAT’s Hottest Food City of 2016, and the prestigious arrival of the Michelin Guide to Washington, DC in 2016. Kathy’s leadership has earned widespread recognition. She has been named to the region’s Power 100 list for five consecutive years (2021-2025), honored as Washington Business Journal’s COVID-19 Response CEO Leader of the Year, and recognized as the 2021 Washington Woman of Excellence by Mayor Muriel Bowser and Person of the Year by Downtown DC’s Business Improvement District. Her career spans public service and private sector leadership. Kathy served on the DC City Council, working with Councilmembers Charlene Drew Jarvis and Kevin P. Chavous. She was later appointed Film Commissioner by Mayor Adrian Fenty. Kathy also led external affairs for Comcast in Washington, DC. She holds degrees from American University and George Mason University, where she received the 2021 Distinguished Alumni Award. Kathy is an active member of The Economic Club of Washington, DC, and the Chair of Leadership Greater Washington. She contributes her expertise to the Washington Business Journal’s Leadership Trust and the American City Business Journals’ Bizwomen Leadership Council. Kathy resides in Washington, DC with her husband Anthony, son Bijan, and their dog Kalli.

Derek Ford serves as the Partnership’s President & CEO, where he leads efforts to promote business attraction, retention, and expansion, positioning DC as a global hub for innovation and investment. Since taking the role in November 2023, Ford has redefined WDCEP’s priorities to elevate business retention, connecting with over 1,100 companies in 10 months to strengthen DC’s commercial landscape and inform policy. A seasoned leader with experience in neighborhood revitalization, global economic development, and affordable housing, Ford previously served as WDCEP’s Senior Vice President of Neighborhood Development and as Chair of the DC Housing Finance Agency Board, where he oversaw $670 million in affordable housing investments. He also leads DC’s activation at the International Council of Shopping Centers (ICSC) conference, expanding the city’s retail footprint. A Ward 7 resident, Ford serves on the boards of AAREP-DC, CFLS, and Bright Beginnings, and holds a B.S. in Accounting from North Carolina A&T State University along with executive leadership certifications from The George Washington University and the Wharton School of Business.

Mr. Oliver T. Carr, III has been the President and Chief Executive Officer at Carr Properties Holdings LP since 2004. Mr. Carr co-founded Carr Capital Corporation in 1994 and served as its President and Chief Executive Officer until 2005. He was responsible for managing Carr Capital, and led managing major acquisitions and financial transactions at the firm. Mr. Carr served as a Director of WashingtonFirst Bankshares, Inc. and its subsidiary WashingtonFirst Bank from December 2012 to May 17, 2013. He served as an Independent Director of Alliance Bankshares Corporation since July 2007. Mr. Carr served as a Director of Alliance Bank Corporation since August 15, 2007 and Alliance Bankshares Corporation since July 2007. He received Master of Science in Real Estate Development from the Massachusetts Institute of Technology in 1992 and his Bachelor of Arts in Urban Studies, with a concentration in Economics, from Trinity College in 1987.

As the Chairman of the Shooshan Company, John Shooshan is responsible for directing and implementing the strategic objectives and goals of the company. His active and dedicated leadership is vital in generating business opportunities and fostering community relationships. John's experience and in-depth knowledge provide guidance for the shared goals of the Shooshan Company team and its partners. John continually strives to assure that the company presents a strong, positive image to all relevant stakeholders. In 2o08, the Shooshan Company completed the Liberty Center North project, a 1 million square foot, mixed-use project consisting of office, residential and retail space. Today, Mr. Shooshan is leading the Shooshan Company in the completion of the Liberty Center development; Liberty Center South, a 5.35 acre mixed-use project, consists of about 1.2 million SF of density among a significant two acre open park space in the heart of Ballston. In addition, under John's leadership the Shooshan Company recently was reasonable for the redevelopment of Marymount University's Ballston mixed-use campus and has a pipeline of new projects planned; including The Clarendon West project, located in the heart of Clarendon. John founded the Shooshan Company in 1986. In 2007, he helped form Kodiak Realty Services, LW by combining the property management and engineering services of the Shooshan Company and Fred Schnider Investment Group to create a property management firm to focus on the developed properties. Previously, he served as Mid-Atlantic Regional Partner for Faison & Associates, Inc., Vice President of Development for Cadillac Fairview Urban Development, Inc. John began his career at the Oliver Carr Company, which became Carr America, where he was the Director of Marketing and Leasing. In these capacities, he gained extensive experience in development, financing, property management and acquisitions. By far, John's proudest achievement is his family. He and his wife Marcia have been happily married for 44 years and have two children and three grandchildren. Their daughter Kelly serves as the Chief Executive Officer of the Shooshan Company, and son Kevin is the Managing Director of Kodiak Realty Services and also serves as the Director of Marketing and leasing for The Shooshan Company. Both attended Georgetown University and have followed in their parent's footsteps in multiple ways, including their dedication to the family business, community involvement and charity work. Education • Bachelor of Science from the University of Delaware.

Bailey has almost 20 years of real estate experience in entitlement, master planning, development, and investment in a diversity of product types. She is currently responsible for a range of investment and development activities across Buchanan’s portfolio. She joined Buchanan from JBG SMITH, where she oversaw the design, entitlement, and investment in over seven million square feet of mixed-use development in the DC Metro Area. Bailey began her career in the investments group at the JBG Companies and has a background in underwriting and joint venture partnerships. She is a member of Urban Land Institute, participating as a member of the Public/Private Partnership Council, serves as Treasurer and Board Member for the Northern Virginia Housing Alliance, serves as a Board Member for Homestretch, and is a sustaining member of the Junior League of Washington. Bailey holds a Master of Business Administration from Georgetown University’s McDonough School of Business, and she graduated from Brown University with a Bachelor of Arts in Urban Studies

Bo Menkiti is the Founder and CEO of the Menkiti Group, a real estate company dedicated to transforming lives and communities through real estate. The Menkiti Group is focused on strengthening neighborhoods through the strategic development, management, and disposition of real estate in urban markets. Mr. Menkiti also serves as CEO and is the Founding Partner of Keller Williams Capital Properties, a residential real estate brokerage managed by the Menkiti Group. Mr. Menkiti’s work has been featured in David Bornstein’s book on social entrepreneurs “How to Change the World,” and in Stephen Goldsmith’s “The Power of Social Innovation.” Mr. Menkiti has been recognized nationally by Ebony and Inc. Magazine as one of the coolest young entrepreneurs in America, and was awarded The National Association of Realtors Prestigious “30 under 30” award in 2006. Mr. Menkiti was also honored as a Minority Business Leader by the Washington Business Journal and named to the paper’s 2014 Power 100, a list of the most influential business leaders in the Washington metropolitan area. He was also recently honored by the National Association of Realtors as the District of Columbia Realtor of the Year in 2014 and as Keller Williams Realty International’s 2015 Entrepreneur of the Year. Under Mr. Menkiti’s leadership, the Menkiti Group and Keller Williams Capital Properties have been recognized by Inc. Magazine as being among the fastest growing private companies in the nation and by the Initiative for Competitive Inner City (ICIC) and Fortune Magazine as two of the fastest growing inner city businesses in America. Prior to forming the Menkiti Group and Keller Williams Capital Properties, Mr. Menkiti served as Chief Operating Officer of College Summit, a national non-profit organization dedicated to increasing the college enrollment rate of low-income students. In this capacity, Mr. Menkiti oversaw the organization’s successful growth into a multi-site national organization. Mr. Menkiti served as the 2013 President of the District of Columbia Association of Realtors and is a board member of City First Bank of DC and Dance Place. Mr. Menkiti also serves as a member of the Steering Committee of the Small Business Policy Project and on the board of DC Water, the District of Columbia Water and Sewer Authority. In 2015, Mr. Menkiti was inducted on the board of the Myer Foundation, the Federal City Council, and was elected as the Executive Board Member of Prolanthropy. Earlier this year, Mr. Menkiti launched the Capital Properties Menkiti Group Foundation, an organization that focuses its resources on serving the diverse social needs existing in the National Capital Area. Mr. Menkiti is a graduate of Harvard University. He lives in the District with his wife and three young sons.

Gary is the Chief Investment Officer and a Partner of Meridian. Gary is responsible for acquisitions, capital activities and investor relations.  He also serves as Chair of the Investment Committee. Gary led the fundraising and investing efforts of Meridian Realty Partners I and II, Meridian’s discretionary private equity funds raised in 2012 and 2016. Between these two funds, Gary has completed in excess of $2.5 billion in investments with over $1 billion of equity in 15 transactions. With over 30 years of industry experience, Gary represented Meridian in its first 3 years of investments as a partner at Vinson & Elkins LLP in Washington, DC. He then headed up the Real Estate Fund’s Acquisitions Group as a partner at The Carlyle Group, where he led and completed over $12 billion of investments with $3.4 billion of equity in nearly 200 transactions. These included the acquisition, development, structured financing, and recapitalization of office, hotel, retail, residential, industrial, land, senior living, and mixed-use properties. He also led the firm’s efforts in the formation of Carlyle Realty Partners I, II, III, IV and V – an aggregate of over $5 billion in investor commitments – before joining The Meridian Group in November 2007. Gary received his B.A. from Vanderbilt University and his J.D. from The University of Texas School of Law. Gary is on the Advisory Board for George Washington University Business School's Center for Real Estate and Urban Analysis.

Nick Cumings joined the firm in 2017 and works in the Land Use and Zoning practice group in the Arlington office. He primarily focuses on securing zoning and land use entitlements, including rezonings, special permits, and special exceptions. Before joining the firm, Nick practiced for several years as an associate with the law firm of BrigliaHundley, P.C., where he focused on real estate litigation, title issues, local government, and financial services litigation. Nick earned a Bachelor of Arts degree from the College of William and Mary in 2008 and graduated from William and Mary Law School in 2011, where he was a member of the William and Mary Law Review. After Nick graduated from law school, he clerked for the honorable Michael F. Devine of the Fairfax Circuit Court. He is an active member of the Fairfax Bar Association and serves as the President-Elect of the Young Lawyers Section. Nick was also named to the 2015, 2016, and 2017 Super Lawyers Rising Stars lists for Virginia and the District of Columbia.