WCP: Glut City?
Washington City Paper’s Housing Complex blog has mentioned the Mount Vernon Triangle twice in the last week.
Last week the mention was MVT’s ranking in $/sf for Q4 condo sales. This week’s HC posting offers a less flattering tilt coining our ‘hood Glut City.
I won’t really refute the author’s point that there is presently a substantial amount of vacancy in the Triangle’s new construction. However I think thats focusing overly on the negative. Madrigal Lofts has gone to settlement on well over 100 units in the last twelve months – how many other DC condos can say that? The inventory is moving. It’s still going to take awhile as so much of it arrived at the same time.
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