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DMPED maps delivery dates, flags market constraints on major projects
Summary
DMPED staff provided the committee with timelines for major portfolio projects — Berry Farm, Bruce Monroe, Park Morton, Hill East and others — and highlighted market headwinds (higher costs, interest rates, economic vacancy) slowing deliveries.
Deputy Mayor Nina Alpert and DMPED director staff provided the committee a programmatic update and a project‑by‑project status report. Latrina Owens (Director of Real Estate, first staff summary provided at the hearing) said Berry Farm will ultimately deliver about 996 units with phased delivery continuing through the end of the decade; current vertical construction accounts for roughly one‑third of total units with a projected full buildout by about 2029. Bruce Monroe will ultimately include approximately 237 units and requires about $33 million in gap financing, DMPED said; Park Morton phase 2 is scheduled to begin construction in late 2026.
DMPED explained market headwinds to the committee: elevated construction costs, higher interest rates, lower property valuations and an unusual level of economic vacancy that lenders see as roughly 15% in some product types — higher than the 5% vacancy buffer lenders typically model. "Until we correct and address the vacancy issues that are specific to the District of Columbia," Nina Alpert testified, "... you will see a slow pipeline of projects." Council members requested a ward‑level breakdown of DMPED’s housing pipeline and additional numbers on replacement‑unit commitments for New Communities sites; DMPED agreed to follow up in writing.
