DC Metrocentric

Situated on the corner of Old Georgetown Rd & Woodmont Ave and still under construction the Lionsgate Condos sit in wait.

Since the market slow down, the builders have slowed the pace of the build-out in order to save on costs. This slowing down of construction is becoming a prevalent method builders are employing to stretch out when new buildings come to market.

It is understandable that builders with multiple new properties in an area would want to delay bringing properties to market, however this practice leaves those who bought into developments early in the lurch. The other method some area condos are using is converting the unsold units to rentals until the market bounces back. Has anyone noticed other developments in the area who are using the “slowdown” or ”apartment conversion” technique? 

If you’re into that type of thing, a construction photo from Monday right after the jump…