Washington, DC now ranks second behind New York City for office to residential conversions, with 8,479 units underway, as a 20 year local tax break pulls new projects into the pipeline. Three profiled projects, including the 157 unit Aviator House, show how a mix of market rate and affordable units can lease up quickly in walkable neighborhoods.
Why it matters to multifamily marketers
DC's conversion wave means fresh competition in the Downtown and West End markets this fall and winter, so operators facing new nearby lease-ups could emphasize transit access, authentic neighborhood character, and quick resident response that a brand new building cannot yet show.