Sponsored Post: UrbanLand Predicts Increase in New Development

• May 20th 2010

by UrbanTurf Staff

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Earlier this year, UrbanLand Company founder and CEO Gerard DiRuggiero started getting inquiries about small buildings and land parcels that could be developed into condos. These inquiries not only represented a strengthening of the market for smaller-scale condo projects, but were also evidence that the supply of land and the demand for condos in DC were finally coming into alignment.

“The recovery of the small developer is underway and my guess is the larger ones will follow the well-worn path these entrepreneurs travel – just as they have always done before,” DiRuggiero told UrbanTurf.

UrbanLand is a direct witness to this trend. The company participates in many of these development deals as a broker of under-developed property, shells, and raw land. It recently handled the following three deals in which the property was either sold outright or the owner partnered with a developer to build new condos:

• Four-unit shell just a few blocks north of NOMA and the New York Ave Metro
• Wide four-unit gutted row house in Hill East
• Six large, R4-zoned lots in Eckington that already had concept drawings

DiRuggiero is encouraging homebuyers to follow UrbanLand’s Facebook page, where the company will post for-sale condos before adding them to the MLS. For developers and investors interested in finding out about future development opportunities, UrbanLand also posts those types of properties before listing them publicly.

Last but not least, followers of UrbanLand’s Facebook page will be first to hear of the company’s many events and get-togethers, like the Cocktails & Cupcakes event tonight at The Floridian (929 Florida Ave NW).

“Whatever we’ve got cooking, our Facebook fans hear about it first,” he said.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/sponsored_post_urbanland_predicts_increase_in_new_development/2085.