Emily Mekinc, Editorial Assistant- Washington Business Journal, as published Tuesday, September 18, 2012, writes that as “many as 35,000 housing units will be needed by 2030 for all new workers in the Washington region, local economic expert Stephen Fuller said Tuesday.”According to Emily Mekinc, “Stephen Fuller, faculty chair and professor at George Mason University, also said the region needs more affordable housing, noting that a lack of housing supply across the price spectrum could threaten the area’s economic vitality and increase traffic congestion.”
He was speaking at a Multifamily Development Symposium.
So, if Stephen Fuller’s projection is sound, how should development/construction of these units be spread out between now and 2035? A developer would need a trend-line analysis and to be out front of others taking out building/rehab, etc., permits. That would require deep pockets and a willingness to handle vacancies if the area were to be overbuilt relative to that trend line mentioned above. In our eyes, such projects should always be viewed with the long-term in mind.
Read Emily’s whole article here: Stephen Fuller: D.C. region needs 35,000 more housing units – Washington Business Journal.