Local Real Estate News
The metro Washington, D.C. area (to include Washington-Arlington-Alexandria) was the No. 6 metro area nationwide with the most new construction in 2015, according to the study, “Building Boom Towns” by Dodge Data. The list tallies the dollar value of construction starts (breaking ground and actually beginning work) for single- and multi-family homes, office, retail, warehouses, healthcare facilities, educational buildings, manufacturing plants and research facilities, among others.
For the Washington, D.C. metro area in 2015, there was $11.3 billion of new construction underway, a change of -7 percent from 2014 of $12.2 billion. The largest project started in 2015 was a $345 million Museum of the Bible, funded by Hobby Lobby.