Can Multifamily Developers fix the Affordable Housing Problem?
DC vowed earlier this year to pour $100M into affordable housing each year until 2019. The program will create and preserve 7,500 units in the city, Mayor Muriel Bowser says, but she also wants the private sector to step up.
In front of a record crowd of over 500 yesterday at Bisnow’s Multifamily Annual Conference at the Washington Convention Center, the mayor said she’s incredibly proud of the economic development happening all over the city, but she’s also keenly aware of the pressure it’s putting on housing prices. For a city growing by 800 people a month, attracting businesses and topping national lists, there’s still a wide mix of prosperity spanning all eight wards.