New development in the District slowed last year after a massive rebound in 2010, but overall the city's skyline is recovering from its tailspin during the recession in 2009.
A total estimated 8.8 million square feet in new development broke ground last year, according to the Washington D.C. Economic Partnership's annual development report released Tuesday. Total new projects covered nearly 11 million square feet in 2010, but last year's total is still more than twice the development pace of 2009 — when the recession was at its peak in the metro area.
Keith Sellars, DCEP's president and CEO, noted 2011 also marked the fourth consecutive year the District has seen an increase in new retail development. Last year, more than 570,000 square feet of new retail projects broke ground.
“The increase in retail space last year verifies that the District’s retail market is alive and thriving," Sellars said.
A copy of the development report can be picked up at WDCEP’s office at 1495 F St. NW or downloaded at WDCEP.com.