The City Proposes Incentive for Diverse Housing

Photo credit: DC Zoning Map

The Office of Planning wants more housing for families, so it's proposing an incentive for developers in the Southeast Federal Center Overlay Zone, reports Greater Greater Washington. The proposal would let developers make taller buildings with a higher FAR if 8% of that extra space goes to three-bedroom units. This makes the project more profitable for the developer because there’s more space to sell or lease, and it promotes more diverse housing sizes while boosting housing altogether. Supplying more three-bedrooms is good because the demand is still higher than supply for smaller housing. With smaller apartments in greater demand, developers have less reason to construct larger apartments. But in order for neighborhoods to have diverse family types, there has to be diverse housing. Who knows? Maybe incentives could work in other parts of DC also. [GGW]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

270-Unit Manassas Gated Community Sells: The D.C. Deal Sheet

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Bringing Stability And Savings To CRE Insurance Through Working Layer

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy

SEC Charges REIT, Its Founders With Alleged $152M Fraud Scheme

Miami's Condo Craze Has Developers Spending Millions On Sales Galleries

BXP Closes In On Next D.C. Office Development As It Shrinks Assets

Slate, Hudson Cos. Picked To Develop Massive Queens Housing Project

Ryan Cos. Secures Permit For Austin's Sixth Street Redevelopment

How Metropolis Is Bringing Parking Into The Future With AI And Recognition Technology

Rapper Rick Ross Joins 670-Unit Miami Gardens Condo Project

How A New Financing Model Helps Spur More Mixed-Income Housing