DCBIA'S
"STATE OF THE LEASING MARKET" DRAWS BIG
CROWD!
The
mood was distinctly up-beat when, once again, DCBIA packed the
National Press Club on Thursday, October 14, for its annual
commercial real estate up-date. A distinguished panel of industry
leaders presented its views on a District market poised for
recovery and leading the nation out of the current downturn.
Andrew
Florance of Co-Star, set the stage with an incisive
rundown of recent trends describing the District market as having
experienced "a sprained ankle while the rest of the country
suffered a compound fracture." He convincingly showed that
District vacancy and absorption rates are stabilizing in response
to more positive local employment numbers - a story the popular
media is missing by reporting only last year's news.
Susan A.
Pepper of Grubb & Ellis served as moderator and
seconded the recovery outlook with a forecast of one to two million
square feet of District space absorption in 2011. She led a
wide-ranging discussion of current market issues among the
panelists - Victoria Hartke, Patrick
Marr, Mindy Saffer, David
Happ, Brian Raher and Dave
Bevirt.
The inter-panel
discussion featured an extensive and lively review of, among other
things, pending GSA requirements, changing law firm space trends
(including lower-cost second space for associates and support
staff), increasing cost pressures on smaller tenants (up to 20,000
sf) and non-profits, emerging office submarket prospects, shrinking
lease concessions and tenant build-out allowances, and evolving
sub-let space options.
The session made one
thing very clear. The downbeat mood exhibited in last year's
leasing seminar is giving way to a more positive and forward
looking view of the commercial real estate market - especially if
one does the looking from the District. Click here >> for photo
coverage.
DON'T MISS THE
"STATE OF THE SALES MARKET" NEXT THURSDAY, OCTOBER 21, 7:30 AM,
NATIONAL PRESS CLUB. JOIN THE OVER 200 DEVELOPERS, BROKERS AND
OTHER PROFESSIONALS SIGNED UP. REGISTER NOW!
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BUILDING
PERMITS GO PAPERLESS IN THE
DISTRICT
DCRA
issued the first online permit on Thursday, October 14, 2010 to
VisionFoundry, a woman owned and operated software design firm
located at 777 North Capitol Street, NE. Architect Darrel
Rippeteau, designer of the space, applied for the permit online on
September 24. The system allows government code officials to
simultaneously check mechanical, electrical, plumbing and
structural systems along with architectural life-safety and
sprinkler systems.
The
system allows reviewers to annotate the permit documents
electronically so that architects and engineers receive comments
instantly. DCRA Director Linda Argo is leading the way with a
paperless building permit filing and processing system built around
the Project DOX electronic document management
system.
From
left to right: Kerry Putman, Project Manager,
Rippeteau Architects; Darrel Rippeteau, President
and CEO; Rippeteau Architects; Rabbiah Sabbakhan,
Acting Division Chief, DC Permitting Services Division;
Linda
Argo, Director, DC Department of Consumer and Regulatory
Affairs; Robyne Edley Kenton, Prinicpal,
VisionFoundry.
David
W. Briggs, Partner
Holland
& Knight LLP
Chair,
DCRA/DCBIA Leadership Group
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ZONING
COMMISSION TO CONSIDER BROADER IZ EXEMPTIONS
FOR SUBSIDIZED HOUSING PROJECTS
On
Thursday, October 21, 2010, the DC Zoning Commission will conduct a
public hearing on proposed amendments to the Inclusionary Zoning
("IZ") regulations to exempt certain government subsidized
affordable housing projects from the IZ requirements. DC's
Department of Housing and Community Development in concert with the
Office of Planning proposed the amendments after discovering that
several subsidized projects were being delayed and their financing
threatened due to conflicting requirements of the District's IZ
program and federal and District subsidy requirements. DHCD and OP
have recommended that allowing a uniform exemption for federally or
District funded projects which meet or exceed IZ requirements is
preferable to processing waivers on a case by case basis. This is
a position that DCBIA has advocated throughout the promulgation of
the IZ program.
DCBIA
members are encouraged to support the proposed amendments at the
public hearing.
Jeffrey
H. Gelman, Partner
Saul
Ewing LLP
Chair,
DCBIA Housing Committee
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CLIMATE
ACTION PLAN FOR DC
The District recently released a draft
climate action plan (CAP)-"Climate
of Opportunity"
http://green.dc.gov/green/cwp/view,A,1231,Q,460764.asp.
To kick off the public process to develop a
community-wide CAP, we would like your input. Please join us for
an informal planning session with our Director, Christophe Tulou, Director of DDOE,
District agency colleagues, and interested parties to share your
recommendations for moving to a final CAP for our community. To
accommodate busy schedules, you'll have two opportunities to join
the conversation at our offices at 1200 First St NE, 5th
Floor, Washington, DC, 20002:
Wednesday,
October 27, 12:00 - 1:30pm
Monday,
November 1, 12:00 - 1:30pm
These
are open sessions (feel free to bring a brown bag), so please pass
this information to others who may be
interested.
If you have questions,
please don't hesitate to contact Dan Barry
at daniel.barry@dc.gov or 596-4640.
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October
21
Annual
State of
the Sales Market
Morning Seminar
Register here
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November
4
Annual Economic
Development
Morning
Seminar
Register here
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