October 4, 2019 at 8:17 pm EDT | by Jill Patel
Not Metro accessible? No problem!
rideshareing, gay news, Washington Blade
Ride-sharing services like Uber and Lyft have dramatically impacted the local real estate market, easing reliance on Metro accessibility.

As an experienced agent on the Jenn Smira Team, I specialize in new developments throughout the city, focusing on rising neighborhoods such as Trinidad, Brookland, and Petworth. These neighborhoods maintain the Washingtonian charm, along with the walkability that buyers are searching for while remaining within their budget. 

Square and Lot Development, a Washington, D.C.-based development team, is primarily focused on cultivating these growing markets. Sima Tessema, a co-founder, believes in the value of repurposing or renovating in these markets. He states, “We develop in momentum markets — Trinidad, Benning Rd, Petworth, Brookland, Hill East — that have tremendous potential and upside. These neighborhoods allow our buyers to participate in the renaissance of our city.” 

What both developers and agents have also been seeing in this renaissance is the utilization of rider-sharing apps. In my experience, buyers have been focused on remaining near a Metro station. 

Recently, I have fewer buyers who require Metro accessible as a must-have; buyers are looking for unique neighborhoods that maintain their historic charm. Sima has shared the same thoughts, saying, “We see a lot of momentum in neighborhoods that historically had poor transit access. Uber & Lyft and other car sharing companies are significantly impacting the real estate landscape in urban core markets. ” These apps have not only allowed buyers to expand their search, but developers to widen their reach and create communities.  

New developments in D.C. continue to offer buyers investments in their future, while maximizing real estate value. 

Jill Patel is a real estate agent licensed in D.C. with the Jenn Smira Team of Compass Real Estate. Reach her at 202-302-3797 or jpatel@compass.com.

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