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I think the market has conflated Class A with Luxury. Now, just about every new apartment building is marketed as "luxury." I'd prefer they just say Class A. Luxury should be marketed as more than granite countertops and an indoor gym. It should mean a door man, floor to ceiling windows, a concierge, a balcony with a fireplace, and be at least 1500 sqft.
These little 2-bedroom 800 sqft dorms being passed off as luxury is a joke. I've been in a lot of those new apartments in DC and wasn't impressed at all. Location is great. Even the rooftop pool, but not what I consider luxury.
Multi-family unit size is a direct reflection of the market. DC is one of the hottest markets in the nation and can command very high prices per square foot. That's the difference between DC, NYC, SF, and Bos compared to other cities.
Seems over the river will be the next hipster "up and coming" area. I knew this was inevitable but I'm honestly surprised by the speed its happening.
Im not. DC is small area wise. Once a gentrification wave like this hits and gets bigger the whole city can easily be swallowed. Theres not as many poor areas to gentrify like in NY and what used to be the worst areas in NW have already been overrun with annoying yuppies and even more annoying hill staffers.
Im not. DC is small area wise. Once a gentrification wave like this hits and gets bigger the whole city can easily be swallowed. Theres not as many poor areas to gentrify like in NY and what used to be the worst areas in NW have already been overrun with annoying yuppies and even more annoying hill staffers.
Once the city reaches critical mass for gentrification and there's no land left to develop.. the height limit will be next to go. One thing DC and Manhattan have in common is a relatively small land area that makes sprawl impossible. Once you can't build out anymore.. you start building up. There is no other option.
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