Not familiar with Chevy Chase Lake? It’s a Metro-oriented project delivering near the Purple Line station southeast of Connecticut Avenue and Manor Road. Phase 1 includes nearly 600 residential units + 87,000 square feet of commercial space; 62 townhouses have already been delivered and 65 Ritz-Carlton residences are in their last stretch of construction.
With an anticipated delivery for Winter 2023, the 12-story, 449-unit development will include a black box theater, AppleTree Public Charter School, and another 7,000+ sq. ft. of retail. About 136 of the units will be affordable units for households earning up to 30% and 50% of area median income.
UrbanTurf recently took a look at the neighborhoods in the DC region where homebuyers likely faced the most competition in 2021. By looking at 1) the year-to-date ratios of average sold price to original listing price for homes and 2) housing inventory, as a low supply of homes means more competition. Led by AU Park, check out the area’s most competitive neighborhoods below…
The DC Council just gave initial approval of the new district boundaries for the city’s 8 wards. With most boundaries remaining as is, there’s been plenty of controversy over the growth of Wards 7 and 8, and the future development at the Armed Forces Retirement Home campus.
Running an Airbnb in the district? DCRA recently released the final rules for the enforcement of short-term rentals. No surprises, and a review of the most significant changes:
Short-term rentals must be operated by the owner of the unit;
Each owner-host must acquire a short-term rental license from DCRA;
Hosts with these licenses can admit guests for an unlimited number of nights while they are on the premises;
Accessory dwelling units (i.e. in-law suites) on owner-occupied premises also qualifies; and
Hosts can obtain a vacation rental license, permitting them to admit guests for a maximum of 90 days while they are out of town.
