Reopen DC Committee | Real Estate and Construction

Mission

The District has been laser-focused on building affordable housing and expanding commercial and retail development in all 8 wards of Washington DC. Approved and permitted projects continue in the District, but there is concern that the economic effects of COVID-19 could disrupt the production of affordable housing and of real estate write large. Already, the real estate market has seen a freeze in sales, as tenants, owners, and lenders assess the long-term effects of the crisis. At the same time, the District Government’s budget has significant financial gaps, which will make it much more difficult to fund affordable housing at the previous levels, while many residents are facing uncertain incomes and ability to pay rents, whether subsidized or not.

Focus

The committee will focus on supporting our ongoing housing, affordable housing, retail, commercial, and neighborhood-level real estate needs, while ensuring safety for workers and residents alike in this new economic and public health environment.