Wellington Buyer Wants to Build — Washington REIT, which just purchased The Wellington apartments on Columbia Pike, has plans to build a new, 360-unit building on the property, perhaps atop the 711-unit complex’s large surface parking lot. [Bisnow]
GMU: Housing Crunch Coming — The D.C. area is not building housing fast enough to accommodate new residents and jobs, according to a report by the George Mason University Center for Regional Analysis. By 2023, there will be 226,380 fewer housing units in Greater Washington than needed to house those moving to area, thus forcing people to move farther away from the city. [Washington Business Journal]