Renting, as opposed to buying, is being viewed increasingly as the smart choice for many Americans, reported Joshua Brockman last week in NPR's "Four Letters Ease Housing Fears For Some: Rent." In past decades, renting was something you did "...if you didn't make enough money, [...] if you weren't ambitious [or] if you weren't sort of smart enough," says Nicolas Retsinas director of Harvard's Joint Center for Housing Studies.
This change in perception stems partially from a distrust of investing given the possibility of incurring a financial loss when selling your home in this market. While the declining homeownership rate and decrease in home sales haven't yet resulted in a surge in rentals, Brockman suggests that "changing attitudes may boost the rental market going forward." Demand for rental housing will grow once the employment market bounces back, predicts Mark Obrinsky, chief economist for the National Multi Housing Council. Nonetheless, currently an average one third of the American population is already renting a home.
As such, some experts are anticipating that the Obama administration will begin putting more emphasis on renting in coming months. A number of officials are now rethinking the emphasis that had been put for years on the importance of homeownership. As Brockman suggests, it will be interesting to see whether the Administration will "seek a more balanced housing policy, talking more about giving people options, worrying more about whether people have a decent place to live, rather than whether they own or rent."
Brockman closed with a point about renting similar to that brought up in the interview with Washington City Paper's Lydia DePillis in our newsletter. Unlike homeownership, renting allows you to pick up and move for a new job, both experts agreed. Being tied down to a home, which can be difficult to sell in this market, rarely affords the same flexibility.
Friday, July 30, 2010
Tuesday, July 27, 2010
UrbanTurf Talks to Urban Igloo About DC Rental Concessions
The days of DC-area landlords using one or more months of free rent and other freebies to win renters' business are numbered, UrbanTurf reported last week in an article on rental concessions. In fact, "across the DC region, concessions offered by landlords have been reduced by a third over the last year," wrote UrbanTurf.
Our very own Richard Gersten told UrbanTurf that lower priced units in luxury properties top the list of those starting to do away with concessions. These units can fill vacancies on their own and the result is a shift from extreme to moderate concessions, Richard explained.
UrbanTurf cited "a strong job market in the DC area, a transient work force, and a housing crisis that caused people to shift from owning homes to renting" as the causes behind increased rental demand and the consequent drop in concessions. With rising demand and fewer available units, "who is in the driver seat is starting to change,” added Grant Montgomery of Delta Associates.
Hoping to take advantage of rental concessions before the window of opportunity closes? Montgomery suggests focusing your search on "areas where there is an influx of new buildings." Richard, meanwhile, recommends keeping an open mind when it comes to location and looking at areas serviced by bus routes. Doing so will open renters up to "neighborhoods that aren’t easily accessible by Metro such as Glover Park, Georgetown and H Street Northeast ... [where] they will in turn be able to find what they want in quality and price.”
Our very own Richard Gersten told UrbanTurf that lower priced units in luxury properties top the list of those starting to do away with concessions. These units can fill vacancies on their own and the result is a shift from extreme to moderate concessions, Richard explained.
UrbanTurf cited "a strong job market in the DC area, a transient work force, and a housing crisis that caused people to shift from owning homes to renting" as the causes behind increased rental demand and the consequent drop in concessions. With rising demand and fewer available units, "who is in the driver seat is starting to change,” added Grant Montgomery of Delta Associates.
Hoping to take advantage of rental concessions before the window of opportunity closes? Montgomery suggests focusing your search on "areas where there is an influx of new buildings." Richard, meanwhile, recommends keeping an open mind when it comes to location and looking at areas serviced by bus routes. Doing so will open renters up to "neighborhoods that aren’t easily accessible by Metro such as Glover Park, Georgetown and H Street Northeast ... [where] they will in turn be able to find what they want in quality and price.”
Tuesday, July 20, 2010
July Rent Check
Check out the July issue of Rent Check, our monthly newsletter. Subscribe here to get the latest news on DC real estate and neighborhoods, expert interviews and more.
Calling All Condo Owners: New Q&A Feature
Thinking about renting out your condo? From marketing to background checks to leases, the process is often challenging and confusing. That's why we're launching a new Q&A blog feature just for condo owners. You submit your questions and Richard Gersten, our founder and managing partner, will answer the best ones here on our blog each month.
Have a question? Here are 4 ways to send it to us:
1. Add it as a comment to this blog post.
2. Post it on our Facebook page.
3. Tweet it to @urban_igloo.
4. Email it to info@urbanigloo.com; please include your name and put "Condo Owner Q&A" in the subject line.
Join us every month as we answer questions on common issues faced by landlords -- and take some of the guesswork out of finding a renter for your property.
Have a question? Here are 4 ways to send it to us:
1. Add it as a comment to this blog post.
2. Post it on our Facebook page.
3. Tweet it to @urban_igloo.
4. Email it to info@urbanigloo.com; please include your name and put "Condo Owner Q&A" in the subject line.
Join us every month as we answer questions on common issues faced by landlords -- and take some of the guesswork out of finding a renter for your property.
Monday, July 19, 2010
Brookland's Pastoral Peace
In the latest installment of its Neighborhood Profile series, UrbanTurf takes a look at DC's Brookland neighborhood. The authors defined its boundaries as "...8th Street to the west, Franklin Street and Rhode Island Avenue to the south, South Dakota Avenue to the east and Michigan Avenue to the north." Brookland, which the authors compare to a small Midwestern town, is characterized by "...wide, leafy residential streets, expansive front yards and minimal commercial presence." Combined with its wide variety of properties, its small town appeal makes Brookland popular among both renters and buyers.
But things may be changing in this sleepy corner of DC; in the next several years, three mixed-use developments--including one from Abdo Development--are scheduled to go up in Brookland. While some are excited about the arrival of new shopping outlets and other amenities, others are concerned that their neighborhood will lose its Midwest-like appeal, falling to "traffic, noise and trash.”
We won't get the final verdict on Brookland for a while, though. We'll have to check back in about five years when much of the new development is complete, suggests UrbanTurf.
But things may be changing in this sleepy corner of DC; in the next several years, three mixed-use developments--including one from Abdo Development--are scheduled to go up in Brookland. While some are excited about the arrival of new shopping outlets and other amenities, others are concerned that their neighborhood will lose its Midwest-like appeal, falling to "traffic, noise and trash.”
We won't get the final verdict on Brookland for a while, though. We'll have to check back in about five years when much of the new development is complete, suggests UrbanTurf.
Neighborhood Expert Interview: Lydia DePillis of City Paper’s Housing Complex
Providing comprehensive coverage of the DC housing market in the form of frequent, short blog posts is not easy. But Lydia DePillis, author of Washington City Paper's Housing Complex blog, is up to the challenge.
From rental trends to neighborhood committee meetings, Lydia stays on top of DC real estate happenings every day. Delivered with subtle tongue in cheek commentary, her reporting has made "Housing Complex" DC's source for a refreshing take on local real estate.
We had the chance to sit down with Lydia, who spoke to us about improving the city's "livability," why Anacostia is "DC's Williamsburg" and more.
Thanks for joining us, Lydia. Prior to taking the reins at Housing Complex, you covered real estate for The New York Observer. Tell us about the big differences you see between the NY and DC rental markets.
I haven’t dealt much with the consumer side of the rental market in D.C., or been around long enough to have a great sense of the long-term dynamics.
A few thoughts though. Both cities some similar fundamentals, like strong rent control laws
(though D.C. may have stronger tenant protections) and a large transient, upwardly mobile population that may rent for a few years in either city before moving on. New York, however, is much more a place of extremes: Absurdly high rents, fashionable addresses, competitive brokers, etc. New York also has cooler places to live further out; Bushwick can have as much cachet as Murray Hill in some circles, while living in Crystal City over Columbia Heights is probably a function of convenience in D.C. Finally, as far as housing options, the group row house is a much more common form of affordable rental in D.C.—we lack the high-rise towers, but are rich in communal residences that are often perfect for younger people with social lifestyles.
Your column covers a wide range of housing topics. In your opinion, what are the biggest issues currently affecting DC real estate?
The most dominant influence is certainly the influx of jobs created by the federal government: It’s kept prices high relative to sickly markets around the country, and pushed demand into areas that federal workers before would have overlooked. Thus, vast swaths of the city are rapidly gentrifying and the housing market is pretty tight, giving developers the confidence to start new residential projects in emerging neighborhoods.
The city government also has a powerful set of regulatory tools that shape the real estate landscape, from inclusionary zoning to zoning overlays, revenue bonds to tax incentives (and disincentives—a particularly powerful example is the vacant property tax, which is encouraging landowners to lease their spaces rather than pay the city while they sit empty). The city is a huge force in the development of most parts of the city.
And when thinking about real estate, it’s impossible to discount the importance of schools. Families with enough means to have some flexibility in their housing choices but not enough to send their children to private school will absolutely go out of their way to live in a good school district, even if that means moving out of the District. It’s probably the biggest thing for D.C. to work on both in order to increase opportunities for current residents and keep families here when they have children.
You recently wrote about DDOT's Livability Program, whose goal is to make DC neighborhoods more livable through transit-specific improvements. In your opinion, what are some other changes that could be made in order to improve the quality of life for DC residents?
Well now, that’s a big question. I’ll take a stab at a few parts of it.
First of all, that post was written by one of our excellent interns, Alex Baca. She did a good job of capturing what priorities the people in the far Southeast have for their neighborhoods: Things like sidewalks and better public transit routes downtown. Transportation is perhaps the most central part of livability, because it shapes so much of how we’re able to operate and what we’re able to build. The availability of parking, for example, is a huge factor in every development and business decision, which I think is a shame—so many good projects are scaled down because they would have traffic impacts that are unacceptable to the neighborhood. In order to get around that, D.C. needs to have a robust network of “alternatives” (which have the added livability benefit of making D.C.’s oppressive air less likely to strangle you).
Other quality of life issues: Cleaning up the Anacostia River so people can enjoy its banks. Creating friendly, welcoming public spaces where people gather. Deterring crime so residents feel safe in their neighborhoods. Supporting affordable housing. Encouraging local businesses to occupy the many vacant storefronts that infect commercial corridors from H Street to Georgia Avenue. The list goes on forever!
Another one of your recent articles, "Homeownership! Huh! What Is It Good For?" examines the rent-buy dilemma. Describe the demographics and other characteristics of a good candidate for renting.
That post was more focused on the societal impact of homeownership, which some journalists and academics have started to reexamine in the wake of the housing crash. From a consumer standpoint, the takeaway is this: In the modern, more fluid economy, where young people may stay in jobs for only a few years before moving rather than sticking with one company for their entire lives, it makes more sense not to be as tied down by a house and a mortgage. I think, though, that it’s less about who should rent or who should buy than considering, if you do have the financial resources to buy, how to make a smart investment. Owning real estate is still one of the better ways to build assets, even if you don’t want to live in one house or condo for the rest of your life. If that’s the case, a buyer just needs to consider whether the house will hold its value in the short term as well.
In UrbanTurf's "Neighborhoods of 2015" compilation, you wrote that Mt. Pleasant is the up-and-coming neighborhood to keep an eye on. Any others that have caught your attention?
Yes—the other neighborhood I pointed out for that UrbanTurf feature was historic Anacostia, where there’s so much room to grow. The coming wave of federal workers to the St. Elizabeth’s campus will fundamentally reshape neighborhoods from Congress Heights to Poplar Point, with Anacostia as the epicenter, if city leaders and local entrepreneurs can find a way to retain some of that wealth on the eastern side of the river. It already has a metro stop, a streetcar on the way, and plenty of spaces for new, creative businesses. I really do think it’s D.C.’s Williamsburg, whatever you may think about that as a model for development.
I also agree with some of the other projections in UrbanTurf’s feature—Brookland is clearly on its way up, and it seems like a new café wants to open up near Truxton Circle every week. I’m less bullish on the big, glassy areas like Capitol Riverfront, Navy Yards, and Rosslyn though. They may have residential capacity, but it’s going to take a while before they develop the kind of neighborhood character that attracts people who really want to put down roots.
---
Read last month’s interview with Mark Wellborn and Will Smith of DC real estate website UrbanTurf.
From rental trends to neighborhood committee meetings, Lydia stays on top of DC real estate happenings every day. Delivered with subtle tongue in cheek commentary, her reporting has made "Housing Complex" DC's source for a refreshing take on local real estate.
We had the chance to sit down with Lydia, who spoke to us about improving the city's "livability," why Anacostia is "DC's Williamsburg" and more.
Thanks for joining us, Lydia. Prior to taking the reins at Housing Complex, you covered real estate for The New York Observer. Tell us about the big differences you see between the NY and DC rental markets.
I haven’t dealt much with the consumer side of the rental market in D.C., or been around long enough to have a great sense of the long-term dynamics.
A few thoughts though. Both cities some similar fundamentals, like strong rent control laws
(though D.C. may have stronger tenant protections) and a large transient, upwardly mobile population that may rent for a few years in either city before moving on. New York, however, is much more a place of extremes: Absurdly high rents, fashionable addresses, competitive brokers, etc. New York also has cooler places to live further out; Bushwick can have as much cachet as Murray Hill in some circles, while living in Crystal City over Columbia Heights is probably a function of convenience in D.C. Finally, as far as housing options, the group row house is a much more common form of affordable rental in D.C.—we lack the high-rise towers, but are rich in communal residences that are often perfect for younger people with social lifestyles.Your column covers a wide range of housing topics. In your opinion, what are the biggest issues currently affecting DC real estate?
The most dominant influence is certainly the influx of jobs created by the federal government: It’s kept prices high relative to sickly markets around the country, and pushed demand into areas that federal workers before would have overlooked. Thus, vast swaths of the city are rapidly gentrifying and the housing market is pretty tight, giving developers the confidence to start new residential projects in emerging neighborhoods.
The city government also has a powerful set of regulatory tools that shape the real estate landscape, from inclusionary zoning to zoning overlays, revenue bonds to tax incentives (and disincentives—a particularly powerful example is the vacant property tax, which is encouraging landowners to lease their spaces rather than pay the city while they sit empty). The city is a huge force in the development of most parts of the city.
And when thinking about real estate, it’s impossible to discount the importance of schools. Families with enough means to have some flexibility in their housing choices but not enough to send their children to private school will absolutely go out of their way to live in a good school district, even if that means moving out of the District. It’s probably the biggest thing for D.C. to work on both in order to increase opportunities for current residents and keep families here when they have children.
You recently wrote about DDOT's Livability Program, whose goal is to make DC neighborhoods more livable through transit-specific improvements. In your opinion, what are some other changes that could be made in order to improve the quality of life for DC residents?
Well now, that’s a big question. I’ll take a stab at a few parts of it.
First of all, that post was written by one of our excellent interns, Alex Baca. She did a good job of capturing what priorities the people in the far Southeast have for their neighborhoods: Things like sidewalks and better public transit routes downtown. Transportation is perhaps the most central part of livability, because it shapes so much of how we’re able to operate and what we’re able to build. The availability of parking, for example, is a huge factor in every development and business decision, which I think is a shame—so many good projects are scaled down because they would have traffic impacts that are unacceptable to the neighborhood. In order to get around that, D.C. needs to have a robust network of “alternatives” (which have the added livability benefit of making D.C.’s oppressive air less likely to strangle you).
Other quality of life issues: Cleaning up the Anacostia River so people can enjoy its banks. Creating friendly, welcoming public spaces where people gather. Deterring crime so residents feel safe in their neighborhoods. Supporting affordable housing. Encouraging local businesses to occupy the many vacant storefronts that infect commercial corridors from H Street to Georgia Avenue. The list goes on forever!
Another one of your recent articles, "Homeownership! Huh! What Is It Good For?" examines the rent-buy dilemma. Describe the demographics and other characteristics of a good candidate for renting.
That post was more focused on the societal impact of homeownership, which some journalists and academics have started to reexamine in the wake of the housing crash. From a consumer standpoint, the takeaway is this: In the modern, more fluid economy, where young people may stay in jobs for only a few years before moving rather than sticking with one company for their entire lives, it makes more sense not to be as tied down by a house and a mortgage. I think, though, that it’s less about who should rent or who should buy than considering, if you do have the financial resources to buy, how to make a smart investment. Owning real estate is still one of the better ways to build assets, even if you don’t want to live in one house or condo for the rest of your life. If that’s the case, a buyer just needs to consider whether the house will hold its value in the short term as well.
In UrbanTurf's "Neighborhoods of 2015" compilation, you wrote that Mt. Pleasant is the up-and-coming neighborhood to keep an eye on. Any others that have caught your attention?
Yes—the other neighborhood I pointed out for that UrbanTurf feature was historic Anacostia, where there’s so much room to grow. The coming wave of federal workers to the St. Elizabeth’s campus will fundamentally reshape neighborhoods from Congress Heights to Poplar Point, with Anacostia as the epicenter, if city leaders and local entrepreneurs can find a way to retain some of that wealth on the eastern side of the river. It already has a metro stop, a streetcar on the way, and plenty of spaces for new, creative businesses. I really do think it’s D.C.’s Williamsburg, whatever you may think about that as a model for development.
I also agree with some of the other projections in UrbanTurf’s feature—Brookland is clearly on its way up, and it seems like a new café wants to open up near Truxton Circle every week. I’m less bullish on the big, glassy areas like Capitol Riverfront, Navy Yards, and Rosslyn though. They may have residential capacity, but it’s going to take a while before they develop the kind of neighborhood character that attracts people who really want to put down roots.
---
Read last month’s interview with Mark Wellborn and Will Smith of DC real estate website UrbanTurf.
Tuesday, June 22, 2010
June Rent Check
Read the June issue of Rent Check, our monthly newsletter. If you haven't subscribed yet, sign up here to get the latest news on DC real estate and neighborhoods.
Wednesday, June 16, 2010
Real Estate Expert Interview: UrbanTurf
UrbanTurf is increasingly the go-to publication for DC real estate watchers. From the best in newly listed properties to noteworthy market trends, co-founders Mark Wellborn and Will Smith are constantly revealing the pulse of DC’s real estate scene.
We chatted with Mark and Will about common apartment hunting mistakes, the no-smoking property trend, and neighborhoods they consider to be DC’s best kept secrets.
Thanks for joining us, Will and Mark. Tell us a little about UrbanTurf. When and why did you launch it? Who is your audience?
UrbanTurf is an online publication that covers residential real estate in the DC metro area.
UrbanTurf was founded in late 2008 because we felt that a publication did not exist that provided the type of residential news that DC residents are really interested in. Every day we post four to five articles on a variety or real estate oriented topics that range from interesting trends going on in the area market to hand-picked properties that we think are great deals to profiles of specific neighborhoods or new condo and apartment projects. Our audience has grown from prospective home buyers and sellers, real estate agents and developers to include anyone that has an interest in what is going on in the DC residential real estate scene.
You recently wrote about the growing number of DC area apartment buildings that are banning smoking. What pros and cons should landlords take into account when considering a no-smoking policy?
Aside from the obvious con that you will immediately exclude smokers from renting in your building – which landlords may actually want – some prospective renters may object philosophically to the idea that they are prohibited from certain behavior within their own home, even if they themselves don’t smoke. Also, if a renter wants to have a party or has friends who smoke, they might feel that the rule could cramp their ability to play host.
All that said, I think the pros outweigh the cons. The amount of non-smokers who hate smoking and welcome a 100% smoke-free building is large. We’ve spoken with a fair amount of people who would even pay a premium to live in such a building.
One of UrbanTurf's regular features is "Neighborhood Profiles". Which neighborhoods do you consider to be DC's best kept secrets today?
Hillcrest in far Southeast near the Maryland border is a charming residential neighborhood with attractive single-family homes that are priced at levels almost unheard of within the city’s borders. It has a suburban feel, so having a car is necessary, but for a young family that wants a reasonable priced house in the city proper, Hillcrest is a hidden gem.
For a more urban option, the “neglected” quadrant of Southwest is affordable (by DC standards) and very well located. It doesn’t have much in the way of bar and restaurant options, but it has two Metro stops, a shiny new Safeway, and the waterfront, Nationals Park, and the Mall are all within walking distance. It’s a great neighborhood for people who like the idea of having the hustle and bustle a short ride away, but enjoy coming home to a quiet neighborhood. Also, there are very big plans afoot for redeveloping Southwest, though they will take years to come to fruition.
Which neighborhoods are you most interested in watching over the next 5 years?
Historic Anacostia, Brookland and Trinidad.
In your opinion, what are the biggest mistakes that renters make when apartment hunting?
Just like home buyers, renters are prone to think that regardless how good something is, something better is just around the corner. In today’s rental and home buying market, if something good comes along and you don’t jump on it, it will be gone before you have the chance to reconsider. The demand is just too high and the supply too low. So, if something that you really like comes along, don’t wait to sign on the dotted line.
Any noteworthy trends you're foreseeing in the DC rental market for the rest of 2010?
Assuming the economy continues to improve, rents are likely to increase a little over the next 12 to 24 months. A lot of the condo projects that converted to apartments when the real estate market hit the skids have spent the last couple years attracting tenants by offering aggressive incentives like a month or two of free rent. Many of those apartments have finally “leased up”, so landlords are no longer as desperate to find tenants. It’s not that rents will shoot up a lot, but the time for renters to get the very best deals has come and gone.
Read last month’s interview with Matt Rhoades and Luis Gomez of DC blog Borderstan.
Are you a local real estate expert interested in sharing insights and tips with thousands of renters, landlords, and other Urban Igloo followers? We’d love to interview for our blog and newsletter! Contact us today at info@urbanigloo.com.
We chatted with Mark and Will about common apartment hunting mistakes, the no-smoking property trend, and neighborhoods they consider to be DC’s best kept secrets.
Thanks for joining us, Will and Mark. Tell us a little about UrbanTurf. When and why did you launch it? Who is your audience?
UrbanTurf is an online publication that covers residential real estate in the DC metro area.
UrbanTurf was founded in late 2008 because we felt that a publication did not exist that provided the type of residential news that DC residents are really interested in. Every day we post four to five articles on a variety or real estate oriented topics that range from interesting trends going on in the area market to hand-picked properties that we think are great deals to profiles of specific neighborhoods or new condo and apartment projects. Our audience has grown from prospective home buyers and sellers, real estate agents and developers to include anyone that has an interest in what is going on in the DC residential real estate scene.You recently wrote about the growing number of DC area apartment buildings that are banning smoking. What pros and cons should landlords take into account when considering a no-smoking policy?
Aside from the obvious con that you will immediately exclude smokers from renting in your building – which landlords may actually want – some prospective renters may object philosophically to the idea that they are prohibited from certain behavior within their own home, even if they themselves don’t smoke. Also, if a renter wants to have a party or has friends who smoke, they might feel that the rule could cramp their ability to play host.
All that said, I think the pros outweigh the cons. The amount of non-smokers who hate smoking and welcome a 100% smoke-free building is large. We’ve spoken with a fair amount of people who would even pay a premium to live in such a building.
One of UrbanTurf's regular features is "Neighborhood Profiles". Which neighborhoods do you consider to be DC's best kept secrets today?
Hillcrest in far Southeast near the Maryland border is a charming residential neighborhood with attractive single-family homes that are priced at levels almost unheard of within the city’s borders. It has a suburban feel, so having a car is necessary, but for a young family that wants a reasonable priced house in the city proper, Hillcrest is a hidden gem.For a more urban option, the “neglected” quadrant of Southwest is affordable (by DC standards) and very well located. It doesn’t have much in the way of bar and restaurant options, but it has two Metro stops, a shiny new Safeway, and the waterfront, Nationals Park, and the Mall are all within walking distance. It’s a great neighborhood for people who like the idea of having the hustle and bustle a short ride away, but enjoy coming home to a quiet neighborhood. Also, there are very big plans afoot for redeveloping Southwest, though they will take years to come to fruition.
Which neighborhoods are you most interested in watching over the next 5 years?
Historic Anacostia, Brookland and Trinidad.
In your opinion, what are the biggest mistakes that renters make when apartment hunting?
Just like home buyers, renters are prone to think that regardless how good something is, something better is just around the corner. In today’s rental and home buying market, if something good comes along and you don’t jump on it, it will be gone before you have the chance to reconsider. The demand is just too high and the supply too low. So, if something that you really like comes along, don’t wait to sign on the dotted line.
Any noteworthy trends you're foreseeing in the DC rental market for the rest of 2010?
Assuming the economy continues to improve, rents are likely to increase a little over the next 12 to 24 months. A lot of the condo projects that converted to apartments when the real estate market hit the skids have spent the last couple years attracting tenants by offering aggressive incentives like a month or two of free rent. Many of those apartments have finally “leased up”, so landlords are no longer as desperate to find tenants. It’s not that rents will shoot up a lot, but the time for renters to get the very best deals has come and gone.
Read last month’s interview with Matt Rhoades and Luis Gomez of DC blog Borderstan.
Are you a local real estate expert interested in sharing insights and tips with thousands of renters, landlords, and other Urban Igloo followers? We’d love to interview for our blog and newsletter! Contact us today at info@urbanigloo.com.
Bozzuto’s Julie Smith on Smart Property Management
Responsible for a portfolio of more than 30,000 units in nearly 100 apartment communities on the East Coast, few know the ins and outs of property management better than Julie Smith. She is President of Bozzuto Management Company, named “Property Management Company of the Year” by the National Association of Home Builders (NAHB) in 2009.
We recently spoke with Julie about how to keep renters happy, the rise of ‘green’ apartment living, and questions to ask when apartment hunting.
Your team at Bozzuto has a reputation for world-class customer service in the apartment market. What advice do you have for DC area landlords and property managers on keeping renters happy?
First and foremost,
we believe that it is our responsibility to provide a friendly and enjoyable living environment for the residents who live in our buildings. So having property teams that are engaged, committed, creative, enthusiastic and willing to go the extra mile to ensure that all of our residents are cared for is most important in keeping residents happy. Prompt, professional and competent service is key and also expected, in any building. Home is a very personal thing and each resident is unique in what they value and what they need. So taking the time to get to know our residents and to understand what is important to them wins a lot of loyalty at the end of the day.
Bisnow reported recently that you're hiring a lot of new college grads in order to better connect with tenants in their 20s. What unique needs do Gen Y renters have?
Over 90% of our new hires are recent graduates and they do understand what is important to their peers. We have found that the Gen Y renters value quality, understand design and style, are very social and enjoy getting to know their neighbors so connecting residents is more important than ever. They are tech-savvy and are connected 24/7 so we need to be as well. They are also very interested in giving back to their communities and value measures taken to conserve resources.
What questions should DC apartment hunters ask landlords to ensure they find a well-managed property?
It is important to understand the service policies regarding general and emergency maintenance requests. They should know what other services and amenities will be available to them. It would be useful to take the time to meet all of the staff members who will be serving them. They need to understand the lease requirements and should feel comfortable asking for clarification if there is something in the agreement that they do not understand. It would beneficial to speak with a few other residents about their experience in the building. They also might want to spend a little time using an amenity like the fitness center or the pool to get a sense of how the community lives. They might also ask what the occupancy and resident retention rates area. Our business is a customer retention business and repeat customers typically are happy ones!
Your West End and Crystal City properties have been getting a lot of buzz for their focus on green living. Do you see sustainable design as a trend that's catching on in the DC apartment market? Is it important to renters?
Green living is important to renters and it is a movement that is becoming more prevalent in apartment living. Healthy living is also very important to our renters. So whether a new building is LEED certified or an existing community is simply taking measures to conserve resources and educate their residents on sustainability, there is perceived value in the opportunity to participate in the process and we are finding that renters across the spectrum are aware and engaged in becoming more Green!
Any other interesting trends you're seeing these days in the DC rental market?
I think that the most widespread trend is in technology. We are seeing an increasing use of technology in all aspects of property operations. We are using mobile applications for marketing apartments, we are using I-Pads in our presentations, we are using Resident Portals as a convenient vehicle for providing service to our residents and social networking sites to keep everyone informed. It is one of the most interesting and fast-moving trends in our industry today.
---
Read last month’s interview with Jim Abdo, CEO of Abdo Development.
Are you a local real estate expert interested in sharing insights and tips with thousands of renters, landlords, and other Urban Igloo followers? We’d love to interview for our blog and newsletter! Contact us today at info@urbanigloo.com.
We recently spoke with Julie about how to keep renters happy, the rise of ‘green’ apartment living, and questions to ask when apartment hunting.
Your team at Bozzuto has a reputation for world-class customer service in the apartment market. What advice do you have for DC area landlords and property managers on keeping renters happy?
First and foremost,
we believe that it is our responsibility to provide a friendly and enjoyable living environment for the residents who live in our buildings. So having property teams that are engaged, committed, creative, enthusiastic and willing to go the extra mile to ensure that all of our residents are cared for is most important in keeping residents happy. Prompt, professional and competent service is key and also expected, in any building. Home is a very personal thing and each resident is unique in what they value and what they need. So taking the time to get to know our residents and to understand what is important to them wins a lot of loyalty at the end of the day.Bisnow reported recently that you're hiring a lot of new college grads in order to better connect with tenants in their 20s. What unique needs do Gen Y renters have?
Over 90% of our new hires are recent graduates and they do understand what is important to their peers. We have found that the Gen Y renters value quality, understand design and style, are very social and enjoy getting to know their neighbors so connecting residents is more important than ever. They are tech-savvy and are connected 24/7 so we need to be as well. They are also very interested in giving back to their communities and value measures taken to conserve resources.
What questions should DC apartment hunters ask landlords to ensure they find a well-managed property?
It is important to understand the service policies regarding general and emergency maintenance requests. They should know what other services and amenities will be available to them. It would be useful to take the time to meet all of the staff members who will be serving them. They need to understand the lease requirements and should feel comfortable asking for clarification if there is something in the agreement that they do not understand. It would beneficial to speak with a few other residents about their experience in the building. They also might want to spend a little time using an amenity like the fitness center or the pool to get a sense of how the community lives. They might also ask what the occupancy and resident retention rates area. Our business is a customer retention business and repeat customers typically are happy ones!
Your West End and Crystal City properties have been getting a lot of buzz for their focus on green living. Do you see sustainable design as a trend that's catching on in the DC apartment market? Is it important to renters?
Green living is important to renters and it is a movement that is becoming more prevalent in apartment living. Healthy living is also very important to our renters. So whether a new building is LEED certified or an existing community is simply taking measures to conserve resources and educate their residents on sustainability, there is perceived value in the opportunity to participate in the process and we are finding that renters across the spectrum are aware and engaged in becoming more Green!
Any other interesting trends you're seeing these days in the DC rental market?
I think that the most widespread trend is in technology. We are seeing an increasing use of technology in all aspects of property operations. We are using mobile applications for marketing apartments, we are using I-Pads in our presentations, we are using Resident Portals as a convenient vehicle for providing service to our residents and social networking sites to keep everyone informed. It is one of the most interesting and fast-moving trends in our industry today.
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Read last month’s interview with Jim Abdo, CEO of Abdo Development.
Are you a local real estate expert interested in sharing insights and tips with thousands of renters, landlords, and other Urban Igloo followers? We’d love to interview for our blog and newsletter! Contact us today at info@urbanigloo.com.
Friday, May 28, 2010
Press on the New Igloo
Last week was the official opening of our first retail location at 1808 Eye Street, across from the Farragut West metro. So far the news has been picked up by Yahoo! News, Realty News Now, MultifamilyBiz, Potomac Tech Wire, PRWeb, and a number of other publications and blogs. Please stop by our new igloo next time you're in the area!
Wednesday, May 19, 2010
May Rent Check
Check out the latest issue of our monthly newsletter, "Rent Check." And if you haven't subscribed yet, sign up for it here so you can stay up to date on DC neighborhoods and real estate trends.
Tuesday, May 18, 2010
Neighborhood Expert Interview: Borderstan
The first time you heard someone say “Borderstan,” chances are you were confused but also didn’t forget the name. Matt Rhoades and Luis Gomez coined the highly sticky term in 2008, and later launched a blog to cover this crossroads of several DC neighborhoods. Since then, Borderstan has evolved into a valuable community resource, addressing everything from crime to real estate developments to the area’s cultural events.
Thanks for joining us, Matt and Luis. First, let's get our geography straight. Your blog refers to Borderstan as the "crossroads of Dupont Circle, Logan Circle, and U Street neighborhoods." What are the actual borders of Borderstan?
We created the borders for our blog coverage -- they mean nothing in terms of official city boundaries for neighborhoods. The northern boundary is Florida Avenue, the western boundary a small stretch of Connecticut Avenue, Massachusetts Avenue is on the south and 9th Street NW is the eastern boundary. Here they are on a Google Map.
Borderstan is certainly catchier than most neighborhood names. When and how did you come up with it? And why did you start the blog?
Several of us were sitti
ng in our living room about 2 years ago and we were talking about how 15th Street NW is the dividing line between two Police Districts, two ANCs and two official DC neighborhoods. For example, the west side of 15th is Dupont Circle and the east side is Logan Circle. I will take credit for the name! The blog started out as a public safety and crime blog and grew from there. I call it the "accidental blog."
What are the best things about living in Borderstan?
Walkability to anything you need or even desire on a daily basis -- grocery stores, restaurants, hardware stores, galleries, wine shops, dry cleaners, two dog parks, veterinarians. It is not unusual for us to leave the car parked all weekend. In turn, this means that we run into many people we know on the streets, so it is a great place to live for social interaction. And since we have a dog, we have met many more people that way. Lots of dogs in Borderstan.
What are the housing options for someone who wants to move to Borderstan?
Housing prices have gone up dramatically in 10 years and substantially in the last five years. For example, a one bedroom condo that would have gone for $150,000 or in 2000 will now go for $400,000 plus. However, in the past two to three years they have leveled off -- we never really had the declines that they did in the DC suburbs. There are many one-bedroom apartments for rent or purchase due to the high number of young single people. Single-family homes are untouchable for anything less than probably $800,000. In addition, there are lots of rental options in the area, both one- and two-bedroom units.
You cover neighborhood crime frequently on your blog. What crime trends have you seen over the last few years?
Crime is down, definitely. However, the newly revitalized commercial strips continue to be magnets for robbers and muggers. Overall, the situation is better. But, more people on the streets at all hours mean more targets. I think a lot of young people who grew up in the suburbs don't always understand the rules of downtown city living when they first come here. They tend to be a bit too carefree in terms of watching out for themselves, especially late at night.
You also have quite a few posts related to dogs. How pet-friendly is Borderstan?
Borderstan is a very pet friendly place. We have met many of our neighbors and made new friends from walking our dog. There are two dog parks -- one at 17th and S NW and another one at 11th and R NW.
What are the biggest changes or additions coming to Borderstan in the months or years ahead?
I think the big story is the continuing real estate development on 14th Street between P and W Streets. The entire west side of 14th Street between S and Swann is going to be demolished in September; new condos and first-floor retail is going in there. Room & Board will soon open at the southwest corner of 14th and T Streets, which will really change that intersection, I think. Of course, there is also the mega project at the southwest corner of 14th and U Streets -- that will be an amazing transformation of the entire intersection.
Please share some of your neighborhood favorites:
- Favorite bar or place to get a drink: Nellie's Sports Bar, Mova, Stoney's, Cafe Saint-Ex
- Favorite upscale restaurant: Rice
- Favorite cheap restaurant: El Paraiso at 14th and T NW, Pasha Bistro on 17th NW, Commissary, Stoney's (both on 1400 block of P Street NW)
- Favorite coffee shops: Java House at 17th and Q and Steam Cafe at 17th and R
- Favorite quick pizza: Manny and Olga's on 14th (it always arrives within 30 minutes)
- Favorite area to walk around: The entire 14th Street corridor from P up past U Street NW.
- Favorite (other) DC blog: 14th & You, City Paper City Desk blog, Free in DC, One Bite At A Time
Thanks Matt and Luis! And congrats on the just-completed redesign of your site. It looks great!
---
Read last month’s interview on Southwest DC with William Rich of “Southwest…The Little Quadrant that Could” blog.
Are you a blogger or leader in your neighborhood? Share your expertise with thousands of DC area readers of our newsletter and blog. Contact us today at info@urbanigloo.com.
Thanks for joining us, Matt and Luis. First, let's get our geography straight. Your blog refers to Borderstan as the "crossroads of Dupont Circle, Logan Circle, and U Street neighborhoods." What are the actual borders of Borderstan?
We created the borders for our blog coverage -- they mean nothing in terms of official city boundaries for neighborhoods. The northern boundary is Florida Avenue, the western boundary a small stretch of Connecticut Avenue, Massachusetts Avenue is on the south and 9th Street NW is the eastern boundary. Here they are on a Google Map.
Borderstan is certainly catchier than most neighborhood names. When and how did you come up with it? And why did you start the blog?
Several of us were sitti
ng in our living room about 2 years ago and we were talking about how 15th Street NW is the dividing line between two Police Districts, two ANCs and two official DC neighborhoods. For example, the west side of 15th is Dupont Circle and the east side is Logan Circle. I will take credit for the name! The blog started out as a public safety and crime blog and grew from there. I call it the "accidental blog."What are the best things about living in Borderstan?
Walkability to anything you need or even desire on a daily basis -- grocery stores, restaurants, hardware stores, galleries, wine shops, dry cleaners, two dog parks, veterinarians. It is not unusual for us to leave the car parked all weekend. In turn, this means that we run into many people we know on the streets, so it is a great place to live for social interaction. And since we have a dog, we have met many more people that way. Lots of dogs in Borderstan.
What are the housing options for someone who wants to move to Borderstan?
Housing prices have gone up dramatically in 10 years and substantially in the last five years. For example, a one bedroom condo that would have gone for $150,000 or in 2000 will now go for $400,000 plus. However, in the past two to three years they have leveled off -- we never really had the declines that they did in the DC suburbs. There are many one-bedroom apartments for rent or purchase due to the high number of young single people. Single-family homes are untouchable for anything less than probably $800,000. In addition, there are lots of rental options in the area, both one- and two-bedroom units.
You cover neighborhood crime frequently on your blog. What crime trends have you seen over the last few years?
Crime is down, definitely. However, the newly revitalized commercial strips continue to be magnets for robbers and muggers. Overall, the situation is better. But, more people on the streets at all hours mean more targets. I think a lot of young people who grew up in the suburbs don't always understand the rules of downtown city living when they first come here. They tend to be a bit too carefree in terms of watching out for themselves, especially late at night.
You also have quite a few posts related to dogs. How pet-friendly is Borderstan?
Borderstan is a very pet friendly place. We have met many of our neighbors and made new friends from walking our dog. There are two dog parks -- one at 17th and S NW and another one at 11th and R NW.
What are the biggest changes or additions coming to Borderstan in the months or years ahead?
I think the big story is the continuing real estate development on 14th Street between P and W Streets. The entire west side of 14th Street between S and Swann is going to be demolished in September; new condos and first-floor retail is going in there. Room & Board will soon open at the southwest corner of 14th and T Streets, which will really change that intersection, I think. Of course, there is also the mega project at the southwest corner of 14th and U Streets -- that will be an amazing transformation of the entire intersection.
Please share some of your neighborhood favorites:
- Favorite bar or place to get a drink: Nellie's Sports Bar, Mova, Stoney's, Cafe Saint-Ex
- Favorite upscale restaurant: Rice
- Favorite cheap restaurant: El Paraiso at 14th and T NW, Pasha Bistro on 17th NW, Commissary, Stoney's (both on 1400 block of P Street NW)
- Favorite coffee shops: Java House at 17th and Q and Steam Cafe at 17th and R
- Favorite quick pizza: Manny and Olga's on 14th (it always arrives within 30 minutes)
- Favorite area to walk around: The entire 14th Street corridor from P up past U Street NW.
- Favorite (other) DC blog: 14th & You, City Paper City Desk blog, Free in DC, One Bite At A Time
Thanks Matt and Luis! And congrats on the just-completed redesign of your site. It looks great!
---
Read last month’s interview on Southwest DC with William Rich of “Southwest…The Little Quadrant that Could” blog.
Are you a blogger or leader in your neighborhood? Share your expertise with thousands of DC area readers of our newsletter and blog. Contact us today at info@urbanigloo.com.
Renewing DC, One Development at a Time: An Interview with Jim Abdo
For the last couple decades, Jim Abdo and his Abdo Development group have offered a unique perspective on real estate and the role it plays in the community. Taking on projects in areas of the city that many see as undesirable addresses, Abdo is doing more than erecting buildings—he is building neighborhoods and communities. In this interview, he talks to us about responsible development, his ever-growing project roster, and more.
Thank you for joining us, Jim. Your company is widely recognized as a leader in the renewal of Washington’s historic districts, such as Logan Circle and 14th Street. How do your developments turn such areas into sought-after addresses?
When we are working in transitional and emerging neighborhoods, we typically look for characteristics that indicate that a neighborhood is ready for revitalization. These factors include a quality stock of existing historic buildings and a neighborhood fabric that lends itself to quality urban revitalization -- the sense that the "bones" of a neighborhoo
d are there, but we just need to restore some key buildings or fill in some parcels or blocks to complete the sense of place. Also, we need to get the sense that the existing residents and businesses of the neighborhood are eager for and embrace change. Once we are comfortable with the neighborhood and its potential, we study the site and its context very carefully to design a development that fits into and complements the existing neighborhood. This means respecting the historic character of an existing building (in an adaptive reuse project) and the character of the surrounding neighborhood. We don't try to change a neighborhood into something it doesn't want to be or is not capable of being. We also try to "build above the market", meaning that we build to a level of quality that matches what we believe the neighborhood can become rather than what it may be today.
Can you give us an update on your New York Ave. project? What's finished? What's in the works?
The New York Avenue project is currently on hold while the economic recovery is underway. It was a bold and ambitious plan -- essentially creating an entirely new city within the city with significant upfront infrastructure improvements -- that will need a few more years of economic stability before it can be financed and built.
There's also a lot of buzz about your Brookland project, slated to begin construction in 2011. What drew you to Brookland and what are the most exciting parts of this project?
Basically all the fundamental characteristics I described above are present in the Brookland and Edgewood neighborhoods, and then some. First, Brookland and Edgewood are wonderful existing neighborhoods with a strong sense of community, beautiful architecture, and a real desire among residents to embrace positive change. We also have a terrific neighbor with CUA (and the many other institutions of higher learning) that brings 24-hr activity and energy and a built-in market for our development, not to mention the Washington Hospital Center which is just a few blocks away. We also have a Metro station at our doorstep. The "bones" are there and we saw a real opportunity to bring a missing piece of the puzzle with a development that will effectively connect the University with the neighborhood. It’s a very rare opportunity where you have a street like Monroe Street that probably could have (or should have) become a retail main street, but due to a number of factors, did not realize that potential. We really see ourselves almost as facilitators, helping the properties along Monroe become what they always should have been -- a center of activity and commerce for the neighborhood and the University.
Also, what amenities and/or enhancements do you think need to be added to H Street to make it as vibrant in the daytime as it is in the evening?
Many of the things that need to happen are already happening. There is the amazing Atlas Theater and the significant entertainment district that has developed around that anchor. Our development at Senate Square and Landmark Lofts has brought a significant amount of new residents to the corridor. Now, the city is completing the streetscape project and installing the streetcar lines. All of this will continue to build on itself and the corridor will continue to redevelop into a vibrant 24-hour street, much like (if not better than) 14th Street.
What other DC neighborhoods do you think have big revival potential that have not yet been recognized?
Its exciting to see what's been happening in the Ballpark District and Anacostia and there are still real opportunities and potential there, especially as the economy continues to improve. I continue to feel that the NY Avenue corridor has amazing potential and there is a real opportunity to improve the gateway to Washington from the east and north. The eastern end of Capitol Hill, especially with the Hill East site and whatever eventually happens with RFK Stadium offers some really good opportunities as well.
Many of our readers are renters. In your opinion, what DC neighborhoods give renters the best bang for the buck today?
It depends what a renter is looking for and what their needs are. If you are a renter on a tight budget, perhaps look at places that are outside of or on the edges of some of the more well-known neighborhoods. In these types of places, you typically can get more for your money, especially in terms of the size of the apartment or house. So instead of the heart of Capitol Hill, perhaps look at the northern or eastern edges of the Hill. Instead of the Ballpark District, look at SW DC. Instead of the Rosslyn-Ballston Corridor, look at Columbia Pike. Instead of Bethesda, look at Silver Spring. Each of these alternative places offer more house for the money without giving up too much in the way of urban amenity and lifestyle.
---
Are you a local real estate expert interested in sharing insights and tips with thousands of renters, landlords, and other Urban Igloo followers? We’d love to interview for our blog and newsletter! Contact us today at info@urbanigloo.com.
Thank you for joining us, Jim. Your company is widely recognized as a leader in the renewal of Washington’s historic districts, such as Logan Circle and 14th Street. How do your developments turn such areas into sought-after addresses?
When we are working in transitional and emerging neighborhoods, we typically look for characteristics that indicate that a neighborhood is ready for revitalization. These factors include a quality stock of existing historic buildings and a neighborhood fabric that lends itself to quality urban revitalization -- the sense that the "bones" of a neighborhoo
d are there, but we just need to restore some key buildings or fill in some parcels or blocks to complete the sense of place. Also, we need to get the sense that the existing residents and businesses of the neighborhood are eager for and embrace change. Once we are comfortable with the neighborhood and its potential, we study the site and its context very carefully to design a development that fits into and complements the existing neighborhood. This means respecting the historic character of an existing building (in an adaptive reuse project) and the character of the surrounding neighborhood. We don't try to change a neighborhood into something it doesn't want to be or is not capable of being. We also try to "build above the market", meaning that we build to a level of quality that matches what we believe the neighborhood can become rather than what it may be today.Can you give us an update on your New York Ave. project? What's finished? What's in the works?
The New York Avenue project is currently on hold while the economic recovery is underway. It was a bold and ambitious plan -- essentially creating an entirely new city within the city with significant upfront infrastructure improvements -- that will need a few more years of economic stability before it can be financed and built.
There's also a lot of buzz about your Brookland project, slated to begin construction in 2011. What drew you to Brookland and what are the most exciting parts of this project?
Basically all the fundamental characteristics I described above are present in the Brookland and Edgewood neighborhoods, and then some. First, Brookland and Edgewood are wonderful existing neighborhoods with a strong sense of community, beautiful architecture, and a real desire among residents to embrace positive change. We also have a terrific neighbor with CUA (and the many other institutions of higher learning) that brings 24-hr activity and energy and a built-in market for our development, not to mention the Washington Hospital Center which is just a few blocks away. We also have a Metro station at our doorstep. The "bones" are there and we saw a real opportunity to bring a missing piece of the puzzle with a development that will effectively connect the University with the neighborhood. It’s a very rare opportunity where you have a street like Monroe Street that probably could have (or should have) become a retail main street, but due to a number of factors, did not realize that potential. We really see ourselves almost as facilitators, helping the properties along Monroe become what they always should have been -- a center of activity and commerce for the neighborhood and the University.
Also, what amenities and/or enhancements do you think need to be added to H Street to make it as vibrant in the daytime as it is in the evening?
Many of the things that need to happen are already happening. There is the amazing Atlas Theater and the significant entertainment district that has developed around that anchor. Our development at Senate Square and Landmark Lofts has brought a significant amount of new residents to the corridor. Now, the city is completing the streetscape project and installing the streetcar lines. All of this will continue to build on itself and the corridor will continue to redevelop into a vibrant 24-hour street, much like (if not better than) 14th Street.
What other DC neighborhoods do you think have big revival potential that have not yet been recognized?
Its exciting to see what's been happening in the Ballpark District and Anacostia and there are still real opportunities and potential there, especially as the economy continues to improve. I continue to feel that the NY Avenue corridor has amazing potential and there is a real opportunity to improve the gateway to Washington from the east and north. The eastern end of Capitol Hill, especially with the Hill East site and whatever eventually happens with RFK Stadium offers some really good opportunities as well.
Many of our readers are renters. In your opinion, what DC neighborhoods give renters the best bang for the buck today?
It depends what a renter is looking for and what their needs are. If you are a renter on a tight budget, perhaps look at places that are outside of or on the edges of some of the more well-known neighborhoods. In these types of places, you typically can get more for your money, especially in terms of the size of the apartment or house. So instead of the heart of Capitol Hill, perhaps look at the northern or eastern edges of the Hill. Instead of the Ballpark District, look at SW DC. Instead of the Rosslyn-Ballston Corridor, look at Columbia Pike. Instead of Bethesda, look at Silver Spring. Each of these alternative places offer more house for the money without giving up too much in the way of urban amenity and lifestyle.
---
Are you a local real estate expert interested in sharing insights and tips with thousands of renters, landlords, and other Urban Igloo followers? We’d love to interview for our blog and newsletter! Contact us today at info@urbanigloo.com.
Wednesday, April 28, 2010
All Opinions Are Local
Last week the Washington Post announced a new blog network to be hosted on their site called All Opinions Are Local. From their announcement: "A group of independent bloggers from around the region have agreed to come together in this space to share their thoughts and insights on important local issues. Some of what they provide will be original to this blog, some of it will be excerpted from postings on their home sites ..."
The inaugural members are: David Alpert of Greater Greater Washington, Kenny Burns of Maryland Politics Today, Paige Winfield Cunningham of Old Dominion Watchdog, Peter Galuszka of Bacon's Rebellion, Dan Malouff of BeyondDC, Christopher 'Topher' Mathews of The Georgetown Metropolitan and Sommer Mathis of DCist.
We'll keep an eye on it. Thanks to Borderstan for the heads up.
The inaugural members are: David Alpert of Greater Greater Washington, Kenny Burns of Maryland Politics Today, Paige Winfield Cunningham of Old Dominion Watchdog, Peter Galuszka of Bacon's Rebellion, Dan Malouff of BeyondDC, Christopher 'Topher' Mathews of The Georgetown Metropolitan and Sommer Mathis of DCist.
We'll keep an eye on it. Thanks to Borderstan for the heads up.
Washington Post on Southwest DC
Yesterday's Post covers the comeback of Southwest DC, picking up on a number of changes and themes SW blogger William Rich discussed in his Urban Igloo interview earlier this month. Developments mentioned by the Post include:
- The new 54,100-square-foot Safeway
- The return of CVS and Bank of America
- The reopening of Fourth Street
- Leases signed by Subway and another restaurant
- Three DC government agencies moving into office space
- A renovated 126-apartment building and similar size condo building
- Waterfront Station, a pedestrian-friendly, mixed-use project
- Two other major Waterfront developments awaiting financing
They quote neighborhood commission chair Andrew Litsky as saying "The bottom line is that Southwest is back. For everyone who was complaining there was a paucity of everything, they're wrong."
Thursday, April 22, 2010
The Christening of Urban Igloo's New Office
Yesterday we gathered the Urban Igloo agents in our new office. It was great to have everybody together at our new space. We are so excited to be right across from Farragut West metro and Starbucks. Stay tuned for our official open house in the coming weeks.
Wednesday, April 14, 2010
April Rent Check
Read the April issue of our monthly newsletter, "Rent Check." Subscribe here so that you can get the latest news on DC real estate and neighborhoods.
Tuesday, April 13, 2010
Neighborhood Expert Interview: Southwest DC
One of the city’s few waterfront areas, the Southwest neighborhood of DC lies along the Washington Channel of the Potomac River. The perks of living in this up-and-coming area are overlooked by many … but not by blogger William Rich of Southwest…The Little Quadrant that Could. We recently sat down to chat with William about his neighborhood.
Thanks for joining us, William. When and why did you start blogging about Southwest?
I started blogging about Southwest in June of 2008. The neighborhood was going through a lot of changes and I thought it would be a good idea to start chronicling it and bring attention to a largely forgotten part of the city. Slowly, but surely, we’ve been getting more exposure.
What are the best things about living in your neighborhood?
It’s a relatively quiet area of the city but close to the National Mall, downtown, and Capitol Hill. It’s also well-served by public transit, including Metro, Circulator, and Metrobus. There’s easy access to Northern Virginia, which is good for me since I work in Alexandria. We have a fish market on the waterfront, which gets busy on the weekends, but the odor sometimes gets a bit overwhelming. Southwest is an ethnically diverse, largely middle-class neighborhood, and civic engagement is very active here. Housing is more affordable than other areas of the city and there’s a variety of housing types to choose from - we have condos, co-ops, apartments, townhouses, duplexes, and houseboats!
According to the Washington Post, one problem with Southwest is that it's "void of the kind of natural urban fabric of corner stores, drycleaners and other neighborhood services that are common through much of the city." Is this really a problem and, if so, how do you get around it?
Yes, this has been a problem in our neighborhood, especially since the redevelopment of the old Waterside Mall began in 2007 and most of the stores were closed to make way for a new “town center” development called Waterfront Station. At the old Waterside Mall we used to have a convenience store, drycleaners, bakery, video rental store, bank, CVS, Safeway, and several restaurants, but only the bank, CVS, and Safeway remained once redevelopment began. In mid-April a new Safeway will open and over the summer we should start to see some restaurants open up at Waterfront Station. I stopped shopping at the old Safeway years ago because it was so dirty and instead get my groceries at the City Vista Safeway or Harris Teeter, which are pretty close by car. Once the new store opens, I won’t have to travel to those other grocery stores anymore. We do have some neighborhood services scattered about, but due to urban renewal efforts in the 1950s and 1960s, our main retail centers have been concentrated at Waterside Mall and L’Enfant Plaza Promenade.
Nationals Park opened two years ago just across South Capitol Street. What impact has it had so far on Southwest?
I would have to say for the most part it has been a positive impact. A viaduct near the Frederick Douglass Memorial Bridge was removed during the reconstruction and beautification of South Capitol Street before Nationals Park opened, so it helped to better connect Southwest and the Capitol Riverfront. I can walk or bike easily to baseball games and the fireworks show they put on every Friday evening when the team is home is visible from my condo building. The Nationals have done charitable works in SW and hold job fairs to hire local residents. Also, the bars and restaurants along the Southwest Waterfront have seen increased business from baseball fans since there aren’t many places to go near the ballpark yet in Capitol Riverfront. However, traffic has increased in the area on game days and neighbors have complained about littering by fans.
You recently blogged about your sneak peek of the new Southwest Safeway, which opens later this month and has been getting lots of buzz. What are the highlights of the new store? How big of a deal is this for the neighborhood?
The new Southwest Safeway will be 55,000 square feet, which is about 20,000 square feet larger than the old store. With the increased size, more features have been included, such as a food court area with prepared foods, a pizza oven, sushi bar, Starbucks, and “cheese world” counter. There’s a stone-walled lounge near the front of the store with a fireplace and several seating areas. An on-site bakery will serve warm bread all day and a fancy bread slicer uses lasers to cut bread as it comes out of the oven. Other upgrades include a pharmacy, an attended meat/seafood counter, and garage parking. The new store will also sell wine and beer. This new Safeway is a huge deal since it’s the only grocery store we have in Southwest. The old Safeway was not properly serving the needs of its customers and we hope this new store will be managed better to go with all the planned upgrades and niceties.
What are the other major recent developments or upcoming changes in Southwest?
There are a lot o
f developments going on in Southwest right now that keeps me pretty busy. As a part of the development of Waterfront Station, 4th Street has been reopened between I Street and M Street, which hasn’t been around since the 1960s. Last month, two office buildings opened at Waterfront Station that now house several District agencies. A couple of condo conversions are underway – Potomac Place Tower and Waterfront Tower. Arena Stage will be reopening in October after a two year renovation and expansion. The Consolidated Forensic Laboratory, which will be home to the city’s new crime lab, is under construction in the northern part of Southwest. L’Enfant Plaza Promenade is currently undergoing a $40 million renovation. Memorials to Martin Luther King Jr. and President Eisenhower are either under construction or in the design phase. The old Randall School building on I Street will be repurposed as a boutique hotel, museum, and residential complex. A new Washington Highlands branch library is under construction in Bellevue, which is located on the east side of the Anacostia River, but still in Southwest. However, the biggest upcoming change will be the redevelopment of the Southwest Waterfront itself, which will be transformed into a world-class waterfront destination, currently in the design phase.
Please share some of your neighborhood favorites:
- Favorite bar or place to get a drink: Cantina Marina, especially around sunset because the view is amazing and the margaritas are good! It feels like I’m not in DC when I go there.
- Favorite restaurant: Jenny’s Asian Fusion
- Favorite area to walk around: My new favorite area is to walk down the newly opened 4th Street, but I also like to run on the National Mall – seeing the Capitol dome, the Washington Monument, and the Lincoln Memorial all the time never gets old.
- Favorite thing about living near the water: Strangely enough, I like hearing the horn of the cruise ships as they leave their docks in the evenings (and sometimes in the mornings). Watching the annual parade of lighted boats in December, the fireworks show during the National Cherry Blossom Festival, and other events along the water are also a treat.
- Favorite (other) DC blog: DCMud, DCist, and JDLand (our neighborhood blogger to the east and inspiration for my blog)
(Photos courtesy of William Rich)
---
Read last month’s interview on Penn Quarter with the author of the PQ Living blog.
Are you a blogger or leader in your neighborhood? Share your expertise with thousands of DC area readers of our newsletter and blog. Contact us today at info@urbanigloo.com.
Thanks for joining us, William. When and why did you start blogging about Southwest?
I started blogging about Southwest in June of 2008. The neighborhood was going through a lot of changes and I thought it would be a good idea to start chronicling it and bring attention to a largely forgotten part of the city. Slowly, but surely, we’ve been getting more exposure.
What are the best things about living in your neighborhood?
It’s a relatively quiet area of the city but close to the National Mall, downtown, and Capitol Hill. It’s also well-served by public transit, including Metro, Circulator, and Metrobus. There’s easy access to Northern Virginia, which is good for me since I work in Alexandria. We have a fish market on the waterfront, which gets busy on the weekends, but the odor sometimes gets a bit overwhelming. Southwest is an ethnically diverse, largely middle-class neighborhood, and civic engagement is very active here. Housing is more affordable than other areas of the city and there’s a variety of housing types to choose from - we have condos, co-ops, apartments, townhouses, duplexes, and houseboats!According to the Washington Post, one problem with Southwest is that it's "void of the kind of natural urban fabric of corner stores, drycleaners and other neighborhood services that are common through much of the city." Is this really a problem and, if so, how do you get around it?
Yes, this has been a problem in our neighborhood, especially since the redevelopment of the old Waterside Mall began in 2007 and most of the stores were closed to make way for a new “town center” development called Waterfront Station. At the old Waterside Mall we used to have a convenience store, drycleaners, bakery, video rental store, bank, CVS, Safeway, and several restaurants, but only the bank, CVS, and Safeway remained once redevelopment began. In mid-April a new Safeway will open and over the summer we should start to see some restaurants open up at Waterfront Station. I stopped shopping at the old Safeway years ago because it was so dirty and instead get my groceries at the City Vista Safeway or Harris Teeter, which are pretty close by car. Once the new store opens, I won’t have to travel to those other grocery stores anymore. We do have some neighborhood services scattered about, but due to urban renewal efforts in the 1950s and 1960s, our main retail centers have been concentrated at Waterside Mall and L’Enfant Plaza Promenade.
Nationals Park opened two years ago just across South Capitol Street. What impact has it had so far on Southwest?
I would have to say for the most part it has been a positive impact. A viaduct near the Frederick Douglass Memorial Bridge was removed during the reconstruction and beautification of South Capitol Street before Nationals Park opened, so it helped to better connect Southwest and the Capitol Riverfront. I can walk or bike easily to baseball games and the fireworks show they put on every Friday evening when the team is home is visible from my condo building. The Nationals have done charitable works in SW and hold job fairs to hire local residents. Also, the bars and restaurants along the Southwest Waterfront have seen increased business from baseball fans since there aren’t many places to go near the ballpark yet in Capitol Riverfront. However, traffic has increased in the area on game days and neighbors have complained about littering by fans.
You recently blogged about your sneak peek of the new Southwest Safeway, which opens later this month and has been getting lots of buzz. What are the highlights of the new store? How big of a deal is this for the neighborhood?
The new Southwest Safeway will be 55,000 square feet, which is about 20,000 square feet larger than the old store. With the increased size, more features have been included, such as a food court area with prepared foods, a pizza oven, sushi bar, Starbucks, and “cheese world” counter. There’s a stone-walled lounge near the front of the store with a fireplace and several seating areas. An on-site bakery will serve warm bread all day and a fancy bread slicer uses lasers to cut bread as it comes out of the oven. Other upgrades include a pharmacy, an attended meat/seafood counter, and garage parking. The new store will also sell wine and beer. This new Safeway is a huge deal since it’s the only grocery store we have in Southwest. The old Safeway was not properly serving the needs of its customers and we hope this new store will be managed better to go with all the planned upgrades and niceties.
What are the other major recent developments or upcoming changes in Southwest?
There are a lot o
f developments going on in Southwest right now that keeps me pretty busy. As a part of the development of Waterfront Station, 4th Street has been reopened between I Street and M Street, which hasn’t been around since the 1960s. Last month, two office buildings opened at Waterfront Station that now house several District agencies. A couple of condo conversions are underway – Potomac Place Tower and Waterfront Tower. Arena Stage will be reopening in October after a two year renovation and expansion. The Consolidated Forensic Laboratory, which will be home to the city’s new crime lab, is under construction in the northern part of Southwest. L’Enfant Plaza Promenade is currently undergoing a $40 million renovation. Memorials to Martin Luther King Jr. and President Eisenhower are either under construction or in the design phase. The old Randall School building on I Street will be repurposed as a boutique hotel, museum, and residential complex. A new Washington Highlands branch library is under construction in Bellevue, which is located on the east side of the Anacostia River, but still in Southwest. However, the biggest upcoming change will be the redevelopment of the Southwest Waterfront itself, which will be transformed into a world-class waterfront destination, currently in the design phase.Please share some of your neighborhood favorites:
- Favorite bar or place to get a drink: Cantina Marina, especially around sunset because the view is amazing and the margaritas are good! It feels like I’m not in DC when I go there.
- Favorite restaurant: Jenny’s Asian Fusion
- Favorite area to walk around: My new favorite area is to walk down the newly opened 4th Street, but I also like to run on the National Mall – seeing the Capitol dome, the Washington Monument, and the Lincoln Memorial all the time never gets old.
- Favorite thing about living near the water: Strangely enough, I like hearing the horn of the cruise ships as they leave their docks in the evenings (and sometimes in the mornings). Watching the annual parade of lighted boats in December, the fireworks show during the National Cherry Blossom Festival, and other events along the water are also a treat.
- Favorite (other) DC blog: DCMud, DCist, and JDLand (our neighborhood blogger to the east and inspiration for my blog)
(Photos courtesy of William Rich)
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Read last month’s interview on Penn Quarter with the author of the PQ Living blog.
Are you a blogger or leader in your neighborhood? Share your expertise with thousands of DC area readers of our newsletter and blog. Contact us today at info@urbanigloo.com.
Examining DC Rent Control, Part II
In Part I of our interview on DC rent control, we covered the policy’s history and some of the arguments surrounding it. Now we shift our focus to the real-world impact of these laws and practical options for improving rent control in the District.
We are joined again by two longtime DC rent control experts: K. David Meit, CPM, principal at Oculus Realty, LLC, and Mark Policy, attorney at Greenstein DeLorme & Luchs, P.C.
Mark, do you think rent control laws have done more harm or good for DC renters? For DC landlords?
The focus should be on maintaining and improving the availability of housing, not on tenants and housing providers. The main problem with rent control in the District of Columbia is that it does not distinguish among renters – rich renters, poor renters, old renters, young renters, renters on Connectic
ut Avenue and renters in poor areas of the city are all treated alike under rent control. Some tenants need rent protection and many do not. This blunderbuss, broad scale approach creates unsupportable economics and a notoriously incomprehensible rent control system. It adversely affects the quality and availability of housing in the District of Columbia and sets tenants and housing providers at odds with one another – tenants vigorously demand the lowest rent and housing providers are therefore less inclined to invest further in an aged housing stock. That does no good for the tenants who have to live in this housing, or for the housing providers who supply this housing. Rent control also allows the District Government to pass the economic responsibility for housing onto housing providers, rather than creating District Government programs which use the tax dollars of all citizens as a whole to focus on subsidizing renters who truly do need assistance.
David, what do you think?
Rent control has only been good for the politicians. Neither housing providers nor renters benefit. DC rent control generally applies to rental housing built in or before 1975. Due to this, the largest stock of affordable housing is slowing falling apart due to age. With no incentive to invest
in long-term repair and maintenance many properties will eventually become uninhabitable. The politicians would argue there are “petition” avenues housing providers may take to earn a return on capital investment. However, the time, money and expertise required to successfully navigate the arcane bureaucracy is not available to vast majority of small, mom and pop, property owners who own most of the housing covered by the Act. Furthermore, the “returns” offered through the petition process are often finite, offering no longer term value appreciation beyond the mere preservation of the asset.
In addition, due to the lack of any means testing, many high quality apartment homes in desirable neighborhoods are often rented at the fraction of their market value to those who least need it, such as first year associate at law firms earning over $100,000 per year. Teachers, firefighters and police rarely get the opportunity.
Mark, is rent control likely to go away in DC anytime soon?
No. Few attorneys use the unqualified answer “no”, but I just did.
David, what are some feasible steps we could take to improve the rent control situation for DC renters and landlords in the near term?
Housing is not an entitlement. However, society has collectively agreed it has an obligation to help those in need. Because of this, government is responsible for providing affordable housing. In DC, rent control unfairly singles out a specific set of housing providers (those who own pre-1973 building) and forces them to offer below market (and often below cost) housing. Government is shirking its responsibility under the current rent control regime.
To improve DC rent control, the City Council should look no farther than New York City. For example, NYC has preserved affordable housing for seniors through its Senior Citizen Rent Increase Exemption (SCRIE) program that reduces property taxes dollar for dollar in return for keeping rents affordable. In this case, the cost is born by the government (through reduced tax income), not the housing provider. In 1997 NYC also enacted means testing and high rent exemptions.
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Read Part I of our interview on DC Rent Control.
Have questions for our experts? Contact David here and contact Mark here.
Are you a local real estate expert interested in sharing insights and tips with thousands of renters, landlords, and other Urban Igloo followers? We’d love to interview you for our blog and newsletter! Contact us today at info@urbanigloo.com.
We are joined again by two longtime DC rent control experts: K. David Meit, CPM, principal at Oculus Realty, LLC, and Mark Policy, attorney at Greenstein DeLorme & Luchs, P.C.
Mark, do you think rent control laws have done more harm or good for DC renters? For DC landlords?
The focus should be on maintaining and improving the availability of housing, not on tenants and housing providers. The main problem with rent control in the District of Columbia is that it does not distinguish among renters – rich renters, poor renters, old renters, young renters, renters on Connectic
ut Avenue and renters in poor areas of the city are all treated alike under rent control. Some tenants need rent protection and many do not. This blunderbuss, broad scale approach creates unsupportable economics and a notoriously incomprehensible rent control system. It adversely affects the quality and availability of housing in the District of Columbia and sets tenants and housing providers at odds with one another – tenants vigorously demand the lowest rent and housing providers are therefore less inclined to invest further in an aged housing stock. That does no good for the tenants who have to live in this housing, or for the housing providers who supply this housing. Rent control also allows the District Government to pass the economic responsibility for housing onto housing providers, rather than creating District Government programs which use the tax dollars of all citizens as a whole to focus on subsidizing renters who truly do need assistance.David, what do you think?
Rent control has only been good for the politicians. Neither housing providers nor renters benefit. DC rent control generally applies to rental housing built in or before 1975. Due to this, the largest stock of affordable housing is slowing falling apart due to age. With no incentive to invest
in long-term repair and maintenance many properties will eventually become uninhabitable. The politicians would argue there are “petition” avenues housing providers may take to earn a return on capital investment. However, the time, money and expertise required to successfully navigate the arcane bureaucracy is not available to vast majority of small, mom and pop, property owners who own most of the housing covered by the Act. Furthermore, the “returns” offered through the petition process are often finite, offering no longer term value appreciation beyond the mere preservation of the asset.In addition, due to the lack of any means testing, many high quality apartment homes in desirable neighborhoods are often rented at the fraction of their market value to those who least need it, such as first year associate at law firms earning over $100,000 per year. Teachers, firefighters and police rarely get the opportunity.
Mark, is rent control likely to go away in DC anytime soon?
No. Few attorneys use the unqualified answer “no”, but I just did.
David, what are some feasible steps we could take to improve the rent control situation for DC renters and landlords in the near term?
Housing is not an entitlement. However, society has collectively agreed it has an obligation to help those in need. Because of this, government is responsible for providing affordable housing. In DC, rent control unfairly singles out a specific set of housing providers (those who own pre-1973 building) and forces them to offer below market (and often below cost) housing. Government is shirking its responsibility under the current rent control regime.
To improve DC rent control, the City Council should look no farther than New York City. For example, NYC has preserved affordable housing for seniors through its Senior Citizen Rent Increase Exemption (SCRIE) program that reduces property taxes dollar for dollar in return for keeping rents affordable. In this case, the cost is born by the government (through reduced tax income), not the housing provider. In 1997 NYC also enacted means testing and high rent exemptions.
---
Read Part I of our interview on DC Rent Control.
Have questions for our experts? Contact David here and contact Mark here.
Are you a local real estate expert interested in sharing insights and tips with thousands of renters, landlords, and other Urban Igloo followers? We’d love to interview you for our blog and newsletter! Contact us today at info@urbanigloo.com.
Friday, April 9, 2010
WSJ: Real estate market showing signs of recovery
The Wall Street Journal recently wrote that after five quarters of decline, apartment rents rose during the first quarter, indicating that the real estate market is finally recovering from its recession-induced slump.
"Nationally, effective rents, which include concessions such as one month of free rent, rose 0.3% during the quarter compared with a 0.7% decline in the fourth quarter of last year and a 1.1% drop in the first quarter of 2009. Vacancies are tied to unemployment, because many would-be renters move in with family members or double up during a downturn [...] Renters are also staying put longer: the average renter now stays for 19 months, up from an average of 14 months, said Mr. Friedman [chief executive of Associated Estates Realty Corp], and despite low mortgage rates and greater home affordability, fewer renters are leaving to buy homes. 'This is the first time in many, many years that it feels like even people who could afford to buy are making the investment decision not to,' Mr. Friedman said."While the recovery will be a slow one and "landlords shouldn't expect 'galloping rental growth' until the job market firms up," this increase in rents is a positive sign if you're a condo owner or property manager--especially given that many experts were not forecasting rental growth until the third and fourth quarters of 2010.
Monday, March 22, 2010
March Rent Check
Check out the latest issue of our monthly newsletter, Rent Check. And if you don't already get it by email, sign up for it here so you can stay on top of DC neighborhoods and real estate trends.
Friday, March 19, 2010
DCRA's New Basement Rental Website
Are you considering signing a lease for a basement apartment or thinking about renting out yours? If so, check out the DCRA's recently launched site, rentmydcbasement.com. There you'll find a variety of helpful information about basement rentals, including legal issues, regulations and more.
Thanks to The Heights Life for the heads up, and to Prince of Petworth for starting the discussion.
Thanks to The Heights Life for the heads up, and to Prince of Petworth for starting the discussion.
Thursday, March 18, 2010
Neighborhood Expert Interview: Penn Quarter
Pennsylvania Avenue is one of the most famous addresses in the world. And its surrounding neighborhood to the east is home to one of DC’s most popular blogs, Penn Quarter Living. We recently had the chance to talk to “gpliving,” the blog’s founder and one of its three editors.
Thanks for joining us, gpliving. First, where exactly is "Penn Quarter"? What other names do people use for this area?
Penn Quarter can be loosely defined as the Washington, DC neighborhood that resides between the White House and the Capitol building. It is officially defined as the area of downtown bou
nded by 3rd St NW to the east, 15th St NW to the west, Pennsylvania Ave NW to the south and Massachusetts Ave NW / New York Ave NW to the north. Several years ago, Penn Quarter only went as north as H St NW. But, as Chinatown has waned and new developments (like Gallery Place) have been completed, Penn Quarter expanded north up to Massachusetts Ave NW / New York Ave NW. Penn Quarter can be said to envelop Gallery Place and what is left of Chinatown. Other terms like Downtown and East End have been attributed to Penn Quarter.
How long have you lived in PQ? When and why did you start blogging about it?
I have lived in PQ for almost 5 years and I started blogging about the neighborhood in 2006. I started the blog because I was told that I needed a hobby. But, there were a host of other reasons to start the blog. Although, Penn Quarter had officially been a neighborhood prior to 2006, the northern part was expanding and undergoing a revitalization mostly due to the booming real estate market. That development boom brought many empty retail spaces that needed to be filled up and all of the PQ residents were gossiping about what stores would move in. The blog became a kind of public grape-vine where everyone could contribute information on retail developments and be up to date every day. I also felt compelled to share what was happening around me because the neighborhood had virtually no representation on the internet.
What types of people live in PQ today?
This is a great question because when you are walking on the sidewalks of PQ, you see a cross section of the entire DC demographic. PQ is a major transit hub with the Gallery Place and Metro Center metro stations being contained in the neighborhood. There are also several bus routes that pickup at the corner of 7th & H St NW alone. But, once you enter the various apartments and condominiums in the neighborhood, the demographic becomes skewed towards the direction of those who are most able to afford to live in this prime location. Thankfully, there have been affordable housing initiatives that have, for example, enabled artists to own condos in buildings like Mather Studios. But, in most buildings, you will find professionals, mostly single and almost no families. There is a pretty healthy range of ages, from the students attending Georgetown law to the empty-nesters who have downsized their abode.
What are the best things about living there?
The proximity to everything you could want in a neighborhood, both for work and play, and having the National Mall as a neighbor. For example, during the record setting snowstorm earlier this year, several restaurants and bars were still open and I even went to Long View Gallery for DC artists' Matt Sesow and Dana Ellyn's public wedding and to a "best of" showing of the 2009 DC Shorts festival. Meanwhile, others in suburbia were left with no power and nowhere to go.
Some people knock Penn Quarter for not having enough character or soul. On their way to a Caps game they see the chain restaurants and tourist crowds and say, 'I couldn't live here.' What do you tell these people to make them appreciate PQ more?
It would be hard to adequately discover PQ when walking the sidewalks with crowds of people 30 minutes before or after a Caps game, for sure. I am not much of a hockey fan, but one of the things that actually drew me to the neighborhood was all of the activity from events, including the Caps games. I can sit in my condo with the window open and tell you whether or not the Caps won or lost a game just by listening to the crowd as the game lets out. That kind of energy rubs off on you, and thankfully for the past few years, that has been a really positive energy when Caps games are involved!
But, the Verizon Center is just one very small piece of the puzzle that makes PQ great because PQ is the cultural center of Washington DC. The Shakespeare Theater and Smithsonian American Art and Portrait Gallery, which have been around longer than the Verizon Center, are two anchors for the cultural side of PQ. But, when combined with the 2nd Shakespeare theater (Sidney Harmon Hall), Woolly Mammoth, Goethe Institute, Spy Museum, and even the National Crime & Punishment Museum, the National Gallery of Art and all of the other museums on the National Mall, you can start to see that there is a lot more to the neighborhood than the restaurants that line one side of the 700 block of 7th Street NW or the Verizon Center which practically shuts down during the summer months.
PQ is also a transit hub as mentioned before. Not only are we living at the center of the metro system, but Union Station is just a few blocks down Massachusetts's Ave. That makes easy access to New York & Boston. You don't need to own a car around here.
Lastly, I cannot leave out PQ's popularity for non-chain and international restaurants. The list of non-chain restaurants starts with Jose Andres' three restaurants in the PQ. And PQ is also finding itself as the first neighborhood in the US that international restaurants want to explore. While those restaurants are considered chain restaurants in other countries, they are every bit as unique as an independent restaurant in the US.
What are the hot topics on your blog these days? What are your neighbors most passionate about?
The hottest topics these days are ones that affect quality of life. The retail scene (openings and closings) is a hot topic, but that scene is starting to level out because almost all of the vacant retail spaces are occupied or are spoken for.
Where do you go grocery shopping? Is a major supermarket likely to open in PQ anytime soon?
We go to the Safeway at 5th & K St NW for groceries. I think the general consensus is that PQ will not be getting a grocery store in the foreseeable future, mostly because there isn't a suitable retail space for one to open up. Factors such as loading dock size and dedicated parking were some of the more unusual requirements that grocery stores have that one doesn't normally consider. The would-be Balducci's retail space on 7th St between D & E was a very specific size and layout for Balducci's and does not work well for more traditional grocery stores like Whole Foods and Trader Joe's. But, the longer that I have lived here, the mental roadblock of having to take the metro to go farther than 5 blocks has disappeared. Now, a 7 block walk is no big deal and I've even found myself walking from PQ to other neighborhoods like Dupont Circle and Adams Morgan.
Please share some of your favorites:
- Favorite bar: Poste (courtyard - during the summer), Iron Horse (during the winter)
- Favorite Chinatown restaurant: Vapiano
- Favorite hole-in-the-wall restaurant: Burma
- Favorite restaurant if someone else is paying: while not the most pricey, I'll say that Jaleo is my old favorite, especially with a pitcher of Sangria
- Favorite museum: Smithsonian American Art Museum, 3rd floor
- Favorite (other) DC blog: The Triangle (our neighbors to the north!)
---
Read last month’s interview on Logan Circle with community leader Tim Christensen. Are you a blogger or leader in your neighborhood? Share your expertise with thousands of DC area readers of our newsletter and blog. Contact us today at info@urbanigloo.com.
Thanks for joining us, gpliving. First, where exactly is "Penn Quarter"? What other names do people use for this area?
Penn Quarter can be loosely defined as the Washington, DC neighborhood that resides between the White House and the Capitol building. It is officially defined as the area of downtown bou
nded by 3rd St NW to the east, 15th St NW to the west, Pennsylvania Ave NW to the south and Massachusetts Ave NW / New York Ave NW to the north. Several years ago, Penn Quarter only went as north as H St NW. But, as Chinatown has waned and new developments (like Gallery Place) have been completed, Penn Quarter expanded north up to Massachusetts Ave NW / New York Ave NW. Penn Quarter can be said to envelop Gallery Place and what is left of Chinatown. Other terms like Downtown and East End have been attributed to Penn Quarter.How long have you lived in PQ? When and why did you start blogging about it?
I have lived in PQ for almost 5 years and I started blogging about the neighborhood in 2006. I started the blog because I was told that I needed a hobby. But, there were a host of other reasons to start the blog. Although, Penn Quarter had officially been a neighborhood prior to 2006, the northern part was expanding and undergoing a revitalization mostly due to the booming real estate market. That development boom brought many empty retail spaces that needed to be filled up and all of the PQ residents were gossiping about what stores would move in. The blog became a kind of public grape-vine where everyone could contribute information on retail developments and be up to date every day. I also felt compelled to share what was happening around me because the neighborhood had virtually no representation on the internet.
What types of people live in PQ today?
This is a great question because when you are walking on the sidewalks of PQ, you see a cross section of the entire DC demographic. PQ is a major transit hub with the Gallery Place and Metro Center metro stations being contained in the neighborhood. There are also several bus routes that pickup at the corner of 7th & H St NW alone. But, once you enter the various apartments and condominiums in the neighborhood, the demographic becomes skewed towards the direction of those who are most able to afford to live in this prime location. Thankfully, there have been affordable housing initiatives that have, for example, enabled artists to own condos in buildings like Mather Studios. But, in most buildings, you will find professionals, mostly single and almost no families. There is a pretty healthy range of ages, from the students attending Georgetown law to the empty-nesters who have downsized their abode.
What are the best things about living there?
The proximity to everything you could want in a neighborhood, both for work and play, and having the National Mall as a neighbor. For example, during the record setting snowstorm earlier this year, several restaurants and bars were still open and I even went to Long View Gallery for DC artists' Matt Sesow and Dana Ellyn's public wedding and to a "best of" showing of the 2009 DC Shorts festival. Meanwhile, others in suburbia were left with no power and nowhere to go.
Some people knock Penn Quarter for not having enough character or soul. On their way to a Caps game they see the chain restaurants and tourist crowds and say, 'I couldn't live here.' What do you tell these people to make them appreciate PQ more?
It would be hard to adequately discover PQ when walking the sidewalks with crowds of people 30 minutes before or after a Caps game, for sure. I am not much of a hockey fan, but one of the things that actually drew me to the neighborhood was all of the activity from events, including the Caps games. I can sit in my condo with the window open and tell you whether or not the Caps won or lost a game just by listening to the crowd as the game lets out. That kind of energy rubs off on you, and thankfully for the past few years, that has been a really positive energy when Caps games are involved!
But, the Verizon Center is just one very small piece of the puzzle that makes PQ great because PQ is the cultural center of Washington DC. The Shakespeare Theater and Smithsonian American Art and Portrait Gallery, which have been around longer than the Verizon Center, are two anchors for the cultural side of PQ. But, when combined with the 2nd Shakespeare theater (Sidney Harmon Hall), Woolly Mammoth, Goethe Institute, Spy Museum, and even the National Crime & Punishment Museum, the National Gallery of Art and all of the other museums on the National Mall, you can start to see that there is a lot more to the neighborhood than the restaurants that line one side of the 700 block of 7th Street NW or the Verizon Center which practically shuts down during the summer months.
PQ is also a transit hub as mentioned before. Not only are we living at the center of the metro system, but Union Station is just a few blocks down Massachusetts's Ave. That makes easy access to New York & Boston. You don't need to own a car around here.
Lastly, I cannot leave out PQ's popularity for non-chain and international restaurants. The list of non-chain restaurants starts with Jose Andres' three restaurants in the PQ. And PQ is also finding itself as the first neighborhood in the US that international restaurants want to explore. While those restaurants are considered chain restaurants in other countries, they are every bit as unique as an independent restaurant in the US.
What are the hot topics on your blog these days? What are your neighbors most passionate about?
The hottest topics these days are ones that affect quality of life. The retail scene (openings and closings) is a hot topic, but that scene is starting to level out because almost all of the vacant retail spaces are occupied or are spoken for.
Where do you go grocery shopping? Is a major supermarket likely to open in PQ anytime soon?
We go to the Safeway at 5th & K St NW for groceries. I think the general consensus is that PQ will not be getting a grocery store in the foreseeable future, mostly because there isn't a suitable retail space for one to open up. Factors such as loading dock size and dedicated parking were some of the more unusual requirements that grocery stores have that one doesn't normally consider. The would-be Balducci's retail space on 7th St between D & E was a very specific size and layout for Balducci's and does not work well for more traditional grocery stores like Whole Foods and Trader Joe's. But, the longer that I have lived here, the mental roadblock of having to take the metro to go farther than 5 blocks has disappeared. Now, a 7 block walk is no big deal and I've even found myself walking from PQ to other neighborhoods like Dupont Circle and Adams Morgan.
Please share some of your favorites:
- Favorite bar: Poste (courtyard - during the summer), Iron Horse (during the winter)
- Favorite Chinatown restaurant: Vapiano
- Favorite hole-in-the-wall restaurant: Burma
- Favorite restaurant if someone else is paying: while not the most pricey, I'll say that Jaleo is my old favorite, especially with a pitcher of Sangria
- Favorite museum: Smithsonian American Art Museum, 3rd floor
- Favorite (other) DC blog: The Triangle (our neighbors to the north!)
---
Read last month’s interview on Logan Circle with community leader Tim Christensen. Are you a blogger or leader in your neighborhood? Share your expertise with thousands of DC area readers of our newsletter and blog. Contact us today at info@urbanigloo.com.
Wednesday, March 17, 2010
Examining DC Rent Control, Part I
Many DC tenants are covered by rent control laws. To fully understand this practice and its implications, it is helpful to see it through the eyes of both real estate and legal experts. In this interview, we share with you the perspectives of two longtime DC rent control experts: K. David Meit, CPM, principal at Oculus Realty, LLC, and Mark Policy, attorney at Greenstein DeLorme & Luchs, P.C. In Part I of our interview, David and Mark examine the history and pros and cons of DC’s rent control laws.
David, give us an overview of the rent control situation in the DC area today. How has it changed over the last 10-20 years?
Rent Control started in Washington, DC in the 1970s during the period of the Nixon price controls. The current law is the Rental Housing Act of 1985. Since 1985 the Act has been modified a number of times, most recently by the Rent Control Reform Act of 2006. Prior to 2006, the rent control regime produced rent “charged” and rent “ceilings”. Rents could be increased every 180 days (subject to lease terms) utilizing perfected increases up to the “ceiling”. It also allowed rents to be increased to highest comparable unit rents upon vacancy. Because comparable unit rents often reached market value, this provided significant rent increases, offering a reasonable return for investment in unit renovati
ons upon turnover of long occupied units. However, since 2006 law limits turnover increases to 30%, greatly reducing an owner’s incentive to invest capital renovating an apartment. Under the new regime annual increases for occupied units is limited to CPI + 2%, but no more than 10% (limited to 5% for senior and disabled). Other changes include additional disclosure and filing requirements. For a summary of the law, see DHCD’s “What You Should Know About Rent Control in the District of Columbia” [links to PDF].
Mark, what are main arguments in favor of rent control?
There are no valid societal or economic arguments which support the overly broad and grossly inefficient rent control system in the District of Columbia. The arguments are political and have been for decades. The traditional argument in
favor of rent control in the District of Columbia is that there is a “housing shortage”, and that with this lack of supply housing providers will charge more rent for housing than low and moderate income tenants or elderly tenants can bear. The cause of this housing shortage (and whether it in fact exists) has not been explored. The sweeping breadth of the District of Columbia’s rent control law loses sight of protection of low and moderate income tenants, and the elderly, and undermines the ability of housing providers and the District of Columbia government to provide that protection.
David, what are the main arguments against rent control?
Nearly all economists agree that any form of price control is detrimental to the preservation and advancement of goods and services. In housing, rent control erodes the long-term condition of multifamily buildings because there is no incentive for capital investment. This ultimately reduces available quality housing and lowers assessed value, lowering the tax base used by government to provide services such as schools and police. In addition, in many rent control jurisdictions, like Washington DC, there are no means testing which results in a scarcity of affordable housing for those who need it the most. One of the best studies of rent control was performed by the CATO Institute in 1997, “How Rent Control Drives Out Affordable Housing”. Another informative report was written in 1996 by NMHC, “The High Cost of Rent Control”.
Join us next month for Part II of our interview with David and Mark, where we examine the impact of rent control on local renters and landlords and explore how to improve the rent control situation in the District.
Have questions for our experts? Contact David here and contact Mark here.
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Are you a local real estate expert interested in sharing insights and tips with thousands of renters, landlords, and other Urban Igloo followers? We’d love to interview you for our blog and newsletter! Contact us today at info@urbanigloo.com.
David, give us an overview of the rent control situation in the DC area today. How has it changed over the last 10-20 years?
Rent Control started in Washington, DC in the 1970s during the period of the Nixon price controls. The current law is the Rental Housing Act of 1985. Since 1985 the Act has been modified a number of times, most recently by the Rent Control Reform Act of 2006. Prior to 2006, the rent control regime produced rent “charged” and rent “ceilings”. Rents could be increased every 180 days (subject to lease terms) utilizing perfected increases up to the “ceiling”. It also allowed rents to be increased to highest comparable unit rents upon vacancy. Because comparable unit rents often reached market value, this provided significant rent increases, offering a reasonable return for investment in unit renovati
ons upon turnover of long occupied units. However, since 2006 law limits turnover increases to 30%, greatly reducing an owner’s incentive to invest capital renovating an apartment. Under the new regime annual increases for occupied units is limited to CPI + 2%, but no more than 10% (limited to 5% for senior and disabled). Other changes include additional disclosure and filing requirements. For a summary of the law, see DHCD’s “What You Should Know About Rent Control in the District of Columbia” [links to PDF].Mark, what are main arguments in favor of rent control?
There are no valid societal or economic arguments which support the overly broad and grossly inefficient rent control system in the District of Columbia. The arguments are political and have been for decades. The traditional argument in
favor of rent control in the District of Columbia is that there is a “housing shortage”, and that with this lack of supply housing providers will charge more rent for housing than low and moderate income tenants or elderly tenants can bear. The cause of this housing shortage (and whether it in fact exists) has not been explored. The sweeping breadth of the District of Columbia’s rent control law loses sight of protection of low and moderate income tenants, and the elderly, and undermines the ability of housing providers and the District of Columbia government to provide that protection.David, what are the main arguments against rent control?
Nearly all economists agree that any form of price control is detrimental to the preservation and advancement of goods and services. In housing, rent control erodes the long-term condition of multifamily buildings because there is no incentive for capital investment. This ultimately reduces available quality housing and lowers assessed value, lowering the tax base used by government to provide services such as schools and police. In addition, in many rent control jurisdictions, like Washington DC, there are no means testing which results in a scarcity of affordable housing for those who need it the most. One of the best studies of rent control was performed by the CATO Institute in 1997, “How Rent Control Drives Out Affordable Housing”. Another informative report was written in 1996 by NMHC, “The High Cost of Rent Control”.
Join us next month for Part II of our interview with David and Mark, where we examine the impact of rent control on local renters and landlords and explore how to improve the rent control situation in the District.
Have questions for our experts? Contact David here and contact Mark here.
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Are you a local real estate expert interested in sharing insights and tips with thousands of renters, landlords, and other Urban Igloo followers? We’d love to interview you for our blog and newsletter! Contact us today at info@urbanigloo.com.
Monday, March 15, 2010
WP on H Street NE
Yesterday's Post has a story on H Street northeast, focusing on the frustrations and hopes of the street's small business owners. A number of businesses have opened on H St. over the last few years, including bars, sandwich shops, coffee shops, gyms, and yoga studios -- "the same sort of attractions that drew young people to Adams Morgan when Georgetown grew too expensive for many of them." But prolonged, massive construction up and down the street has created major traffic and parking problems, hurting many businesses.
According to the Post, within a year "a proper boulevard is to emerge from the construction cocoon, with wide sidewalks, granite curbs, freshly paved traffic lanes and new landscaping. Tracks are being laid for six trolleys, expected to arrive in 2012, that will run from near Union Station to Benning Road and Oklahoma Avenue, in the shadow of RFK Stadium." Until that happens, most business owners seem optimistic:
According to the Post, within a year "a proper boulevard is to emerge from the construction cocoon, with wide sidewalks, granite curbs, freshly paved traffic lanes and new landscaping. Tracks are being laid for six trolleys, expected to arrive in 2012, that will run from near Union Station to Benning Road and Oklahoma Avenue, in the shadow of RFK Stadium." Until that happens, most business owners seem optimistic:
Read the full article here.There seems to be a consensus among the merchants of H Street that if they can weather the disruption, they will emerge with something a bit closer to an urban utopia than recent history has allowed.
They see the best of upscale Capitol Hill to the south merging with the middle-class sensibilities of the Trinidad neighborhood to the north, blending in the ethnic and cultural diversity of Adams Morgan but with the fabric of community woven in a tighter knit.
If that seems a rose-colored hope, there is abundant evidence that it is more than a possibility. Plans to revitalize H Street from Third to 14th streets have been discussed for years, and city planners long ago envisioned that the Capitol Hill populace would creep north to H Street. The new businesses, wedged between empty storefronts and carryout joints where a wall of protective plexiglass separates patrons from workers, reflect that the anticipated migration has occurred. So does a short stroll south on any of the numbered streets that intersect with H.
Tuesday, March 9, 2010
NY Times on DC's Burgeoning Night Life
Last week's New York Times has a fun look at DC's night life revival. It includes a good geographical overview of the more interesting growth spots:
There will, of course, always be ex-NYC snobs and others (you know the type) who constantly complain about DC's inferior nightlife scene, but it's great to see some thoughtful coverage and positive recognition in this area.Washington night life, it seems, has come of age. ... Indeed, the city, once called, even by its own citizens, “Hollywood for ugly people” is in the midst of a night life renaissance. To whit: 53 restaurants, bars and boutiques have opened in the last two years in the area known as Mid-City (roughly from Thomas Circle up 14th Street through U Street, and along U down to Ninth). That doesn’t include the new celebrity chef haunts in Penn Quarter, nor the sleek new hotel bars at the Jefferson and the W, nor the monthly or weekly alternative parties like Maison that are held in warehouses, bars and nightclubs.
The nexus of the new energy is at 14th and U Streets, but the geography of D.C.’s burgeoning night life stretches up to Columbia Heights, down 14th through Logan Circle, past the Convention Center into Chinatown and out to the revived H Street corridor. At the upstairs/downstairs duo of new restaurants on 14th Street called Churchkey (a gastro pub with an extensive bar menu) and Birch and Barley (the upscale sister restaurant downstairs), the wait for beer begins at 6 p.m. By midnight the line stretches down the block, and the crowd upstairs is shoulder to shoulder until closing. Up the street at Patty Boom Boom, a new Jamaican reggae dance hall, the ballroom is packed, sweat-filled and writhing by 11 p.m.
Monday, March 1, 2010
Neighborhood Photo Contest on Facebook
Are you a “neighborhood snob” who thinks the DC, Maryland or Virginia area in which you live is the best? Urban Igloo wants to see your favorite places and things in your neighborhood and we’re holding a photo contest on our Facebook page so you can share them with friends and the DC community.To participate, just share digital photos of your favorite spots or things to do in your neighborhood. Post your photo(s), along with a brief caption that includes the neighborhood name, on our Facebook page Wall.
Then help us choose the winners by “liking” and commenting on the best photos. Quantity of “likes” and comments from Urban Igloo fans will be a major factor as we judge the photos. You can see all of the photos submitted by visiting our “Fan Photos” album.
The contest runs from March 1 to April 30. Urban Igloo will choose a winner and first and second runner up by May 10th. We will announce the winners on Facebook, Twitter, our monthly newsletter, and here on our blog.
How to Submit an Entry:
1) Become a fan of Urban Igloo on Facebook if you haven’t already.
2) Go to the top of our Facebook “Wall.”
3) Click on the “Photos” icon below “Write something.”
4) Click on “Upload a Photo.” Once uploaded, your photo will appear both on the Wall and in the “Fan Photos” album, which you can access by clicking on the “Photos” tab at the top of the page.
* We reserve the right to remove any submitted content that we feel is inappropriate.
Monday, February 22, 2010
February Rent Check
The latest issue of Rent Check, our monthly newsletter, goes out today. Let us know what you think!
Friday, February 19, 2010
DC Apartment Trends from Delta, Part II: The Renter’s View
In Part I of our interview with Delta Associates VP Grant Montgomery, we shared the latest numbers on the DC rental market and captured the landlord’s point of view. Now we shift to what it all means for renters.
Despite lower vacancy rates than much of the rest of the country, the DC region remains a renter’s market, according to Montgomery. The boom in new apartment property construction over the last couple years has meant good things for renters:
1. Lower prices and aggressive rental incentives. “There are enough [new buildings] out there that rents are still decreasing” and many landlords are aggressively using “concessions” to attract renters. The percents of rents landlords are taking off through incentives are “among the highest we’ve ever seen,” according to Montgomery. In some cases, “you’re getting 3 months off your rent.” And in extreme cases “you might be getting 3 months and a year’s free parking.” If you are really value-focused, notes Montgomery, you can likely get better deals in lower-end apartments “because they’re facing pressure from above.” And if you want something new, “you’re going to get a deal there. For not much more [in price], you might be able to move up [in quality] for a year or two.”
2. Lots of options. Renters now have “plenty of [buildings] to choose from.” And the options aren’t just greater in number, they’re greater in quality. That’s because, as Montgomery notes, “a lot of the [new properties] built over the last year or two were originally built as condos but instead have come to market as rentals. So you’re getting a significantly higher quality product than you would have gotten 5 years ago—nicer cabinets, nicer appliances, etc.”
To find the best deals, Montgomery suggests checking out areas where a lot of new properties have been built recently. “If you go to a neighborhood, and there are 3 new apartment projects trying to fill up for the very first time, that’s good for you. That situation – where you’ve got buildings competing with each other that have to fill up – is very different from a building that’s completely full and they’re just turning a certain percentage of units.”
Especially “if you’re willing to make the tradeoff between rent and location, you can really get some amazing deals -- like 20% to 30% concessions” – and often you’re not that far away from the much more expensive parts of the city. Which areas in DC fall into this camp? Montgomery suggests looking at DC’s Capital Riverfront, the South Arlington area (along Route 7 and Columbia Pike), and North Bethesda along Rockville Pike.
But if you want to take advantage of low rental prices and landlord giveaways, Montgomery’s research suggests that you should act now. “The spigot’s about to get turned off” in terms of new apartment buildings … “and that will rather quickly change who’s on top of the market. Who has negotiating power will change over the next 36 months quite significantly.”
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Read Part I of our interview with Grant Montgomery, where he discusses the DC apartment market from the landlord’s perspective.
Are you a local real estate expert interested in sharing insights and tips with thousands of renters, landlords, and other Urban Igloo followers? We’d love to interview for our blog and newsletter! Contact us today at info@urbanigloo.com.
Despite lower vacancy rates than much of the rest of the country, the DC region remains a renter’s market, according to Montgomery. The boom in new apartment property construction over the last couple years has meant good things for renters:
1. Lower prices and aggressive rental incentives. “There are enough [new buildings] out there that rents are still decreasing” and many landlords are aggressively using “concessions” to attract renters. The percents of rents landlords are taking off through incentives are “among the highest we’ve ever seen,” according to Montgomery. In some cases, “you’re getting 3 months off your rent.” And in extreme cases “you might be getting 3 months and a year’s free parking.” If you are really value-focused, notes Montgomery, you can likely get better deals in lower-end apartments “because they’re facing pressure from above.” And if you want something new, “you’re going to get a deal there. For not much more [in price], you might be able to move up [in quality] for a year or two.”
2. Lots of options. Renters now have “plenty of [buildings] to choose from.” And the options aren’t just greater in number, they’re greater in quality. That’s because, as Montgomery notes, “a lot of the [new properties] built over the last year or two were originally built as condos but instead have come to market as rentals. So you’re getting a significantly higher quality product than you would have gotten 5 years ago—nicer cabinets, nicer appliances, etc.”
To find the best deals, Montgomery suggests checking out areas where a lot of new properties have been built recently. “If you go to a neighborhood, and there are 3 new apartment projects trying to fill up for the very first time, that’s good for you. That situation – where you’ve got buildings competing with each other that have to fill up – is very different from a building that’s completely full and they’re just turning a certain percentage of units.”
Especially “if you’re willing to make the tradeoff between rent and location, you can really get some amazing deals -- like 20% to 30% concessions” – and often you’re not that far away from the much more expensive parts of the city. Which areas in DC fall into this camp? Montgomery suggests looking at DC’s Capital Riverfront, the South Arlington area (along Route 7 and Columbia Pike), and North Bethesda along Rockville Pike.
But if you want to take advantage of low rental prices and landlord giveaways, Montgomery’s research suggests that you should act now. “The spigot’s about to get turned off” in terms of new apartment buildings … “and that will rather quickly change who’s on top of the market. Who has negotiating power will change over the next 36 months quite significantly.”
---
Read Part I of our interview with Grant Montgomery, where he discusses the DC apartment market from the landlord’s perspective.
Are you a local real estate expert interested in sharing insights and tips with thousands of renters, landlords, and other Urban Igloo followers? We’d love to interview for our blog and newsletter! Contact us today at info@urbanigloo.com.
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