New apt building planned in Crystal City (2013, apartment)

[brooklynborndad]

on the site of the old library

11-Story, 198-Unit Apartment Project Approved For Crystal City

[ACWhite]

I think it's the old post ofc site.

[pcity]

Originally Posted by ACWhite

I think it's the old post ofc site.

It is.

The Crystal/Pentagon City library is a few blocks away from Eads on 18th.

[brooklynborndad]

Originally Posted by ACWhite

I think it's the old post ofc site.

oops - you are correct.

[austindoxie1972]

That's a great link -- thanks for posting. It's also interesting to see all the new constuction in the pipeline for other areas. Makes me wonder if there will be a shift / over supply in a year or two. Hmmmm.....

[brooklynborndad]

Originally Posted by austindoxie1972

That's a great link -- thanks for posting. It's also interesting to see all the new constuction in the pipeline for other areas. Makes me wonder if there will be a shift / over supply in a year or two. Hmmmm.....

I've read reports expecting rents to DECLINE by about 1% or so in 2013 from 2012. Thats not much of a decline considering how much things have gone up the last 4 years or so. I suspect theres too much pent up demand - young folks living in cramped roommate situations who would rent an apt if rents went down, young folks living with parents - for the amount of new product to bring a really dramatic decline. A decline on that scale probably won't lead to a significant decline in new projects. I think developers have been pretty restrained considering the level of rents - whether thats a conscious attempt to avoid flooding the market, a limit on developer capacity to do too many projects at once, a side benefit of the local govt bureaucracy that slows projects, or just general caution, I do not know.