Yesterday in DC: Multifamily Can't Stop

Brace yourself for a bit more DC lovin'.Yesterday at our 2nd annual DC Mid-Year Multifamily Summit, over350 heard ARA principalDrew White(right, with CohnReznick'sJim Martinko) report that the local market remains "prolific" and that with an occupancy rate over96%, oversupply concerns in the regionmay be premature. Drew also points out thatacquisition opportunities may be coming for investors excluded frommegadeals that dominated the area over the past few months (like Equity Residential and AvalonBay's purchase ofArchstone, which included many DC properties), as large institutional players are now left to digest the big trades.

Equity Residential's Greg White(with Moseley Construction's Johnny Moseley) says when designing new urban properties, his firm is placing more of an emphasis on the experience of interiors, from the ground floor to the elevators and even corridors(so that they don't feel like "bowling alleys," he says). Owners and developers are raising the bar big time on amenities, Johnny says, from club-like fitness centers to concierge and packaging spaces. Our question about whether the concierge would exercise for us was correctly ignored.

Silence is golden unless you have a toddler. Then, it's suspicious. Send your news to Catie Dixon (catie@bisnow.com) or Tonie Auer (tonie@bisnow.com).

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