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Jkid t1_j1qganz wrote

>Developer Tishman Speyer acquired the Friendship Heights building in May 2021 and announced it will redevelop it as apartments, but retaining a large portion for retail, as well as parking

All of them will be "luxury" with high rent that will never go down.

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strangechicken t1_j1qnh6y wrote

And alleviating pressures on older buildings. More housing is rarely a bad thing. Luxury just means new. Rich people will live wherever regardless. More housing choice for everyone.

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Jkid t1_j1qp1i7 wrote

>And alleviating pressures on older buildings. More housing is rarely a bad thing. Luxury just means new. Rich people will live wherever regardless. More housing choice for everyone.

More housing choice if you are willing pay 50% of your take home pay unless you want to live in a crime or gang infested area of the city. Those older buildings have not lowered their rent for decades and nor has these new "luxury" apartments no matter how much got built. How much is Bozzuto paying you to spout zombie talking points?

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strangechicken t1_j1qxovt wrote

Lol. I mean, if by that you mean understanding basic supply and demand principles, then I guess I'm doing it pro bono. Keep living in fantasy land thinking housing supply works with fairy dust.

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IcyWillow1193 t1_j1rz902 wrote

>basic supply and demand principles

It's not basic supply and demand principles. It's the real estate version of trickle down economics. We all know how well that worked out.

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> Keep living in fantasy land thinking housing supply works with fairy dust.

Sounds like you've taken your own advice.

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strangechicken t1_j1s8u9p wrote

Yes yes, whatever. The rest of us know building more housing and removing those barriers are better for the people you think you're helping. Just stand to the side while the rest of us pass you by.

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IcyWillow1193 t1_j1utvhm wrote

If you're going to shill for luxury developers, you at least should ask for a paycheck. With that, you might be able to actually help people.

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IcyWillow1193 t1_j1qx57p wrote

>zombie talking points

Developers don't need to directly pay anybody -- our nation's most expensive colleges and universities are churning out legions of people that unthinkingly believe this stuff.

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9throwawayDERP t1_j1qyoh4 wrote

lol, seriously if the rent is under 3000/month it will be cheaper than most of the surrounding areas. do you live here? this is the richest part of the city. median incomes are higher than even in georgetown.

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Jkid t1_j1r66cz wrote

Yes I do live in the area. I was born here and I remember when cheap apartments are no longer built, bs luxury apartments are being built while older no frills apartments got demolished

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9throwawayDERP t1_j1rfrs4 wrote

Housing in upper NW have been increasing slower than upper NW wages (decent data goes back to 1960). All buildings on CT and WI aves aren't even keeping up with inflation these days.

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NPRjunkieDC t1_j1qooyx wrote

You're right to call it will not really be luxury. Shiny with doorman etc but cheaply built like most or all of the new construction in DC

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9throwawayDERP t1_j1qys5s wrote

they are keeping lots of the old concrete mall, including some of the thick-ass brick walls. it looks to be a partial re-skinning.

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NPRjunkieDC t1_j1qz8ne wrote

That could be good news. When they updated the IMF building on 19th/H St, it took forever and more expensive, apparently, than rebuilding the whole 9/10 floors .

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