Will D.C. see more for-sale townhome developments?

Developer sees place for townhomes amid aging housing stock and new rentals
  • New townhomes for roughly $500,000 seem to represent an affordable option in DC considering volume of $1 million-plus sales
  • Demand for new housing in DC is there
  • District has a large population of potential millennial homebuyers

In a number of D.C. neighborhoods the majority of newly-built housing has been rental product, but with more $1 million-plus home sales occurring it now seems for-sale developers are ready to re-enter the fray. Lock 7 Development is under construction on 22 townhomes in the Northeast D.C. neighborhood of Brookland.