Jamie Weinbaum, Executive Vice President, MidCity Development
Power lunch: PassionFish (Bethesda)
Vacation spot: Anguilla
Favorite neighborhood: Barracks Row
Best neighborhood for long-term RE investment: Brookland/Brentwood
Biggest challenge: Accommodating hundreds of thousands of anticipated new residents over next 25 years, given the current climate
HQ2 prediction: NoVA (Crystal City)
Brook Katzen, Senior Vice President of Development, The UIP Companies
Power lunch spot: Rasika West End
Favorite vacation spot: Martha’s Vineyard
Favorite DC neighborhood: West End
Best neighborhood for long-term real estate investment: Hyattsville
Biggest challenge for developers/entrepreneurs in the DC market: Expensive land, zoning appeals
Amazon HQ2 location prediction: Crystal City
Dan Klueger, Managing Partner, The Tenant Agency
Power lunch spot: The Palm, Washington, DC
Favorite vacation spot: Laguna Beach, CA
Favorite DC neighborhood: Navy Yard/Ballpark
Best neighborhood for long-term real estate investment: Navy Yard/Ballpark
Biggest challenge for developers/entrepreneurs in the DC market: Up front capital investment
Amazon HQ2 location prediction: Washington, DC of course!
Michael Banks, President, The Banks Development Co.
Power lunch spot: Maketto
Favorite vacation spot: Most any quiet, white sand beach.
Favorite DC neighborhood: To live – Berkley & Palisades. For architecture – Cleveland Park & Kalorama.
Best neighborhood for long-term real estate investment: H Street Corridor, Logan Circle, Kent
Biggest challenge for developers/entrepreneurs in the DC market: For single family residential development/infill – the general cost of doing business in DC is challenging. Many (large) DCRA fees & on-site requirements create daunting costs unless you have a large project/budget. Additionally, the many agencies & processes that we have to navigate are challenging – none of which are particularly straight forward or clearly defined. For multi-family/commercial development – competition is high. It seems there are many players going after a relatively limited selection of properties/deals – pushing pricing up & diluting profit potential.
Amazon HQ2 location prediction: We have our money on Northern Virginia.