Tiny, luxurious condominiums in Washington D.C. continue to pop up, leaving many wondering why area developers aren’t building homes with more space and rooms.
Architecture professor emeritus at the University of Maryland Roger K. Lewis delves into the tiny luxury apartment trend in a blog post written for the Washington Post.
“Prevailing market demand, generated mostly by millennials and empty nesters, is what guides developers, lenders and investors. They finance and build whatever they think can be sold or rented reasonably quickly to cover development costs and produce an acceptable return on investment,” he writes.
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