Financial
A striking new ‘View’ on 14th Street
David Franco, a longtime local entrepreneur who co-owns Level 2 Development, opened View 14, a 185-unit apartment building in the bustling 14th and U corridor. (DC Agenda photo by Michael Key)
David Franco laughs as he recalls his foray into the entrepreneurial arena. It was 1989 and his good friend, John Guggenmos, was pulling together a group of investors to buy the nightclub Tracks. Franco, a fresh-faced 24-year-old, could not have known that Tracks would shortly experience its heyday and become the focal point of D.C.’s gay nightlife scene, making it a hugely profitable venture, but he smelled opportunity. Or at the very least a really good time. He was ready to jump at the chance.
There was just one snag: “I was not out at the time.”
Franco wasn’t among the legions of gay men and lesbians who came to D.C. to explore and embrace life outside the closet. The recent University of Maryland graduate was a native Washingtonian who had never lived anywhere else. He and his four brothers worked for the family business, a chain of discount department stores run by their father, and they all lived within a mile of each other in the Maryland suburbs. How would his family, especially his Orthodox Jewish father, react to having a family member who was not only gay but owned a gay nightclub?
“I went to my father and said, ‘Dad, I have this opportunity and the opportunity requires me to leave the family business.’” When his father asked what the opportunity was, Franco forced the words out. “I said, ‘I have the opportunity to go in with a group of guys to buy a [gay] nightclub.’ I thought my father was going to hit the roof. But instead he said, ‘If this is going to make you happy, you have my blessing.’”
The Tracks venture was the first step along a career path that would see Franco launch with his Tracks associates a new gay establishment in D.C., Trumpets restaurant, and with business partner Keith Clark start Universal Gear, a chain of clothing stores popular with gay men. Those accomplishments, however, were dwarfed with the opening last month of View 14, a $90 million 185-unit apartment building that he and business partner Jeff Blum developed and built through their real estate firm, Level 2 Development.
The building’s interior was designed in collaboration with local furniture store owners Jason Claire and Eric Kole of Vastu and has the feel of a boutique hotel: funky but modern, stylish with some flashes of whimsy. It boasts the usual upscale finishes like granite countertops and stainless steel appliances and an enviable array of amenities, some the kind you would expect in a new luxury building – roof decks with Weber grills, a party room, 24-hour concierge service, fitness center, underground parking – but some you might not have seen elsewhere, including a sculpture garden, yoga studio, fully loaded theater, and a screen in the cavernous lobby that tells you when the next green and yellow line trains will be arriving at the U Street Metro Station.
Franco likens View 14 itself to a “giant ship coming down 14th Street.” It’s a very fitting image, with the sleek and majestic glass, steel and stone structure seeming to glide down the hill from Columbia Heights to the U Street area. How View 14 came to be is a harrowing voyage in itself, fraught with the squalls and swells of a tanking real estate market and the ensuing lending crisis.
It was 2005, and Franco and Blum were finishing their first venture together, the development of a 12-unit apartment building on the 1400 block of Chapin Street, N.W., called the Mercury at Meridian Hill Park. The real estate market was moving from high gear into overdrive, Franco said, and the building sold out very quickly. Flush with excitement, the two decided that for their second project together they would go big in order to capitalize on the red hot market.
After losing a bid on a property in the NoMa neighborhood, they set their sights on the Petrovich Auto Repair garage at the corner of 14th Street and Florida Avenue, around the corner from the Mercury. The property was perfectly situated on a hill that would afford stunning views of the city, and was within a stone’s throw of the popular U Street corridor.
Unfortunately, owners Paolo and Pedro Petrovich weren’t exactly jumping at the opportunity.
“They weren’t prepared [to sell] at that time,” said Franco. “They wanted to reinvest [whatever profit they would make from the sale] but didn’t know what to do.”
Undeterred, Franco and Blum made themselves a fixture at the Petroviches’ garage. “One of us would be in there at least once a week, seeing how things were,” often over lunch. “We really cultivated a relationship.” Franco, meanwhile, diligently researched opportunities for the Petroviches to reinvest their money. When the brothers took him up on a suggestion to tour some CVS stores in the Baltimore area, Franco began to feel guardedly optimistic.
Several months later, after a delicate dance with the Petroviches that could only be described as a wooing, complete with the appearance of a rival suitor, Franco and Blum won the sale.
Once that first major hurdle was cleared other challenges followed – finding a suitable architect and investment partner, navigating city bureaucracy to get the requisite permits to build a large scale condo building where an auto repair shop used to be, making expensive arrangements for the grounds to be cleansed of several decades worth of oil and gasoline seepage – but those were overcome with hard work and perseverance.
Franco and Blum quickly found strong support for their project among D.C. politicians, with Mayor Adrian Fenty attending the groundbreaking and Ward 1 Council member Jim Graham stepping in to facilitate communication with Comcast, which had been unresponsive to Franco and Blum’s appeals to discuss with them the relocation of Comcast-owned satellite dish equipment and a signal receiver tower from the View 14 site. Graham would later champion legislation that gave the View 14 project $5.7 million in tax abatement.
The View 14 developers also won kudos from local community leaders and the city government by donating $1 million to the residents of Cresthill Apartments toward the purchase of their building and the formation of a cooperative. This was done as part of their deal with the city, which requires developers to provide affordable housing if they are building a high-density project. Rather than set aside units in the new building for that purpose, as is normally done, the View 14 developers, seeing need in their community, chose instead to donate needed funds to the Cresthill residents, whose building was less than a block away and was soon to be sold on the open market.
“I never will forget the first day I met David,” said Sankofa Cooperative president Sheila Royster, who has lived in the Cresthill Apartments building for 40 years. “He came to my unit and he brought me a plant. I thought that was wonderful. It was a genuine gesture and to me it just demonstrated his respect for us and what we were doing.”
Dark clouds began to loom though as speculation that the housing market was cresting gave way to fears of a housing bubble that could burst at any moment and send property values tumbling. Still, Franco and Blum were confident. More than 1,000 people attended the lavish launch party in September of 2006. Rival developers nervously dubbed View 14 “The Death Star” because it was expected to “suck up all the other condo purchasers in the market,” Franco said. “We were excited.”
Contracts trickled in, a dozen and a half in the first two months, and the cold reality set in: they weren’t selling enough units to finance the start of construction on time. It might be months, or even a year, before they reached that point. If they were able to reach that point.
The two men sat down with their project partners and made the difficult decision to re-engineer View 14 as a rental project. “It was literally the million dollar decision for us,” said Franco. “We had spent a million dollars in marketing and building a sales center.”
Franco said that he and Blum have accepted a letter of intent from a “well-known retail and services establishment in the area” that will use 8,000 square feet of space to expand their facilities.
“The neighborhood is going to be ecstatic when they learn who’s going to be there,” he promises. A signed lease and announcement is expected soon.
Franco is just as ebullient when he talks about the 14th and U Street neighborhood and its future. He points out that the Solea, a condo building directly across 14th Street from View 14, has nearly sold out. And there is just one unit left for sale at Union Row, the massive, 216-unit condo building that also houses Yes! Market, a CVS, and the restaurant Eatonville.
“That speaks volumes to the desirability of this neighborhood,” said Franco.
About 25 leases have been signed so far and the first View 14 residents moved in over Thanksgiving weekend, among them Galan Panger, a 24-year-old gay man who is leasing a studio. Panger, who works in Google’s downtown D.C. office, said he was impressed by the quality of the building’s construction and with the finishes. The amenities solidified the decision to trade in his digs at nearby Union Row for View 14.
“It was nice of them to create these community spaces,” Panger said. “My boyfriend and I have been grilling even though it’s been cold.” They have been sticking to the east roof deck after Franco joked during a tour of the building that it was the gayer of the two rooftop spaces since it has “the more fabulous view.”
Franco himself is one of View 14’s newest tenants, along with his dog; last week he sold his home near Meridian Hill Park and they moved into one of the penthouse units.
Franco sees a wide mix of people coming to View 14, from single young professionals to retired couples. There is also a fair bit of traffic from gay and lesbian renters like Panger, which Franco attributes to a variety of factors, including the fact that the building bears the strong imprint of two openly gay men, he and Blum, as well as the influence of other gay men they know like Claire and Kole of Vastu and Chris Cahill, a good friend of Franco’s who works for Botanical Decorators and came up with the idea for using the courtyard space as a sculpture garden and helped select the sculptures and interior plants.
People, gay and straight alike, Franco observed, appreciate quality and, “not to rely too heavily on stereotypes, but gay men have a natural attention to detail. We as gay men are [attuned] to high style, high design and convenience. This building delivers that.”
Real Estate
2026: prices, pace, and winter weather
Lingering snow cover, sub-freezing temperatures have impacted area housing market
The D.C. metropolitan area’s housing market remains both pricey and complex. Buyers and sellers are navigating not only high costs and shifting buyer preferences, but also seasonal weather conditions that influence construction, inventory, showings, and marketing time.
Seasonality has long affected the housing market across the U.S. Activity typically peaks in spring and summer and dips in winter; however, January and February 2026 brought unusually cold spells to our area, with extended freezing conditions.
Persistent snow and ice-covered roads and sidewalks have gone for days, and in some cases weeks, before melting. While snow accumulation normally averages only a few inches this time of year, this winter saw below-normal temperatures and lingering snow cover that has significantly disrupted normal activity.
Rather than relying on neighborhood teenagers to shovel snow to make some extra money, the “snowcrete” has required ice picks, Bobcats, and snow removal professionals to clear streets and alleys, free our cars from their parking spaces, and restore availability of mass transit.
These winter conditions have had an adverse impact on the regional housing market in several ways.
- Construction slowdown: New builds and exterior improvements often pause during extended cold, resulting in delayed housing starts when we need affordable housing in the worst way.
- Listing preparation: Cleaning crews, sign installers, photographers, and stagers with trucks full of furniture may be unable to navigate roads and need to postpone service.
- Showings and open houses: Simply put, buyers are less inclined to schedule visits in hazardous conditions. Sellers must ensure walkways and parking areas are clear and de-iced and be able to vacate the property while viewings are taking place.
- Inspection and appraisal delays: Like buyers and sellers, ancillary professionals may be delayed by unfavorable weather, slowing timelines from contract to close.
- Maintenance and repairs: Properties with winter damage (e.g., ice dams or frozen pipes) may experience repair delays due to contractor availability and supply chain schedules. Snow and cold can also affect properties with older and more delicate systems adversely, leading some sellers to delay listing until better conditions arrive.
- Availability of labor: Increasingly, construction, landscaping, and domestic workers are reluctant to come into the District, not because of ice, but because of ICE.
Overall, the District has shown a notable increase in days on the market compared with past years. Homes that once sold in a week or less are now often listed for 30+ days before obtaining an offer, especially in the condominium and mid-range house segments. While part of this shift can be attributed to weather and climate, interest rates, uncertain employment, temporary furloughs, and general economic conditions play key roles.
Nonetheless, we continue to host some of the region’s most expensive residences. Historic estates, including a Georgetown mansion that sold for around $28 million, anchor the luxury segment and reflect ongoing demand for premium urban property.
But even in this high-end housing sector, marketing strategies are evolving based on seasonal realities. Price reductions on unique or niche properties, such as undersized or unconventional homes, reflect a broader market adjustment where competitive pricing can shorten selling time.
For example, a beautifully renovated, 4-story brick home with garage parking and multiple decks that overlook the Georgetown waterfront sold in early February for 90 percent of the list price after 50 days on the market.
At the other end of the spectrum, a 2-bedroom investor-special rowhouse in Anacostia only took eight days to sell for under $200,000, down 14 percent from its original list price. In addition, four D.C. homes took more than 250 days to sell, including an 8-bedroom rooming house that was on the market for 688 days and closed after a 23 percent downward price adjustment.
Some frustrated sellers are simply taking their homes off the market rather than dropping prices below their mortgage balances, although we are beginning to see the resurgence of short sales for those who must sell.
Condominiums and cooperatives offer many opportunities for buyers and investors, with 1,100 of them currently on the market in D.C. alone. List prices run the gamut from $55,000 for a studio along the Southwest Waterfront to nearly $5 million for five bedrooms, four full baths, and 4,400 square feet at the Watergate.
So, while Washington metro area prices remain high, the pace of sales now reflects both seasonal and economic realities. Homes taking longer to sell, in part caused by elements of winter, signal a shifting market where buyers can take more time to decide which home to choose and have a better negotiating posture than in recent years.
Accordingly, sellers must continue to price strategically, primp and polish their homes, and prepare for additional adverse circumstances by reviewing fluctuating market conditions with their REALTOR® of choice.
Valerie M. Blake is a licensed Associate Broker in DC, MD & VA with RLAH @properties. Call or text her at (202) 246-8602, email her at [email protected] or follow her on Facebook at TheRealst8ofAffairs.
Valentine’s Day is often portrayed as a celebration of romantic love — flowers, chocolates, and candlelit dinners. But for many LGBTQ+ individuals and couples, Valentine’s Day can also be a moment to reflect on something deeper: the love that creates a safe, welcoming home.
For LGBTQ+ home buyers and sellers, homeownership is more than a financial milestone—it is an act of belonging, resilience, and pride. Owning a home can mean finally having a place where you can hold hands with your partner on the front porch, decorate with your authentic style, and build a life free from judgment. In this way, buying or selling a home is one of the most meaningful love stories many LGBTQ+ people will ever write.
This Valentine’s Day, whether you’re a first-time gay home buyer, a same-sex couple upgrading your space, or an LGBTQ+ seller moving on to your next chapter, it’s worth thinking about how love, identity, and real estate intersect—and how to navigate that journey with confidence, protection, and the right support.
Love, Identity, and the Meaning of ‘Home’
For generations, LGBTQ+ people were denied equal access to housing, homeownership, and legal protections. Even today, many LGBTQ+ home buyers still face subtle bias, uncomfortable interactions, or outright discrimination in the real estate process.
That’s why finding LGBTQ+ friendly real estate and an affirming gay friendly realtor or lesbian realtor matters so much. A home isn’t just a building—it’s a personal sanctuary. Working with LGBTQ+ real estate agents who understand your lived experience can make all the difference between a stressful transaction and a joyful one.
For over 30 years, GayRealEstate.com has been the leading gay real estate network, connecting LGBTQ+ home buyers and sellers with gay real estate agents, lesbian real estate agents, and LGBTQ+ friendly realtors who truly “get it.” Their mission has always been simple yet powerful: to ensure that every LGBTQ+ person has access to safe, respectful, and inclusive real estate services.
Finding Your Match: Choosing the Right LGBTQ+ Friendly Realtor
Much like dating, finding the right real estate agent is about compatibility, trust, and communication. Here are some key tips for choosing the best LGBTQ+ real estate representation:
- Look for experience with LGBTQ+ clients. Search for a gay realtor near me or lesbian realtor near me through GayRealEstate.com, where agents are vetted for cultural competency and community commitment.
- Ask about their experience with same-sex couple home buying. A strong agent should understand issues like joint ownership, legal protections, and financing considerations.
- Choose someone who listens. You should feel safe sharing your priorities—whether that includes proximity to LGBTQ+ nightlife, affirming schools, or lesbian-friendly neighborhoods.
- Prioritize respect and transparency. Your agent should advocate for you, not just push a quick sale.
The right gay friendly real estate agent isn’t just helping you buy a house—they’re helping you find a place to build your life.
Best Cities for LGBTQ+ Home Buyers
If love is your compass, location is your map. Some of the best cities for LGBTQ+ home buyers consistently offer strong community presence, legal protections, and welcoming neighborhoods:
- Wilton Manors, Florida – A hub for LGBTQ+ culture with thriving LGBTQ+ real estate opportunities
- Palm Springs, California – A long-standing LGBTQ+ retirement and second-home destination
- Provincetown, Massachusetts – Historic LGBTQ+ community with progressive housing protections
- Asheville, North Carolina – Growing market with inclusive real estate services
- Fort Lauderdale, Florida – Diverse, welcoming, and highly sought-after for LGBTQ+ home ownership
Working with GayRealEstate.com allows you to connect with local LGBTQ+ real estate experts who know these markets inside and out.
Navigating Legal Protections in LGBTQ+ Real Estate
Love is universal—but legal protections are not always consistent. Understanding your rights is essential when buying or selling a home as an LGBTQ+ person.
Key protections include:
- Fair Housing Act (FHA): Prohibits discrimination based on sex, which courts have increasingly interpreted to include sexual orientation and gender identity.
- State and local protections: Many cities and states offer additional safeguards against LGBTQ+ housing discrimination.
- Same-sex couple legal considerations: If you are married, joint ownership is typically straightforward. If not, consult an attorney about co-ownership agreements.
A knowledgeable LGBTQ+ friendly realtor from GayRealEstate.com can help guide you through these complexities and connect you with trusted legal professionals when needed.
Buying a Home as an LGBTQ+ Person: Practical Tips
If you’re embarking on your home-buying journey this Valentine’s season, here are smart, practical steps to take:
- Clarify your priorities. Do you want a vibrant LGBTQ+ neighborhood, quiet suburbs, or access to queer community spaces?
- Get pre-approved for a mortgage. This strengthens your position in competitive markets.
- Work with an LGBTQ+ real estate agent. Searching “finding a gay real estate agent” or “finding a lesbian real estate agent” through GayRealEstate.com is a great first step.
- Research inclusive communities. Some neighborhoods are more welcoming than others.
- Know your rights. If you experience bias, document it and seek legal guidance.
Buying a home is an act of self-love—and community love.
Selling a Home as an LGBTQ+ Person
Selling can be just as emotional as buying, especially if your home represents years of memories with your partner, friends, or chosen family.
When selling a home as an LGBTQ+ person, consider:
- Working with a gay friendly realtor who will market your home inclusively
- Highlighting LGBTQ+ community appeal in listings
- Being prepared for potential buyer bias (and knowing how to respond)
- Leaning on GayRealEstate.com’s LGBTQ+ real estate services for trusted guidance
Your story—and your home—deserve respect.
Real Estate for LGBTQ+ Families
More LGBTQ+ couples are raising children, fostering, or building blended families. This makes homeownership even more meaningful.
When searching for real estate for LGBTQ+ families, consider:
- LGBTQ+ affirming school districts
- Family-friendly queer communities
- Safe neighborhoods with inclusive values
- Access to LGBTQ+ resources and social networks
GayRealEstate.com specializes in helping LGBTQ+ families find homes that truly fit their lives.
Love, Pride, and Homeownership
At its core, Valentine’s Day is about connection. For LGBTQ+ people, homeownership can be one of the most profound expressions of love—love for yourself, your partner, your family, and your future.
Whether you are a first-time gay home buyer, a same-sex couple relocating, or an LGBTQ+ seller moving forward, you deserve an experience rooted in dignity, fairness, and celebration.
For over three decades, GayRealEstate.com has stood as the leading source for LGBTQ+ real estate, gay real estate, lesbian real estate, and LGBTQ+ home buying and selling representation. Their nationwide network of gay real estate agents, lesbian-friendly real estate agents, and LGBTQ+ friendly realtors ensures that your real estate journey is guided by professionals who understand your heart—and your home.
This Valentine’s Day, let your next chapter be written in a place where you can truly belong. Because when love leads the way, home is never far behind.
Scott Helms is president and owner of Gayrealestate.com.
Real Estate
New year, new housing landscape for D.C. landlords
Several developments expected to influence how rental housing operates
As 2026 begins, Washington, D.C.’s rental housing landscape continues to evolve in ways that matter to small landlords, tenants, and the communities they serve. At the center of many of these conversations is the Small Multifamily & Rental Owners Association (SMOA), a D.C.–based organization that advocates for small property owners and the preservation of the city’s naturally occurring affordable housing.
At their December “DC Housing Policy Summit,” city officials, housing researchers, lenders, attorneys, and housing providers gathered to discuss the policies and proposals shaping the future of rental housing in the District. The topics ranged from recent legislative changes to emerging ballot initiatives and understanding how today’s policy decisions will affect housing stability tomorrow.
Why Housing Policy Matters in 2026
If you are a landlord or a tenant, several developments now underway in D.C., are expected to influence how rental housing operates in the years ahead.
One of the most significant developments is the Rebalancing Expectations for Neighbors, Tenants and Landlords (RENTAL) Act of 2025, a sweeping piece of legislation passed last fall and effective December 31, 2025, which updates a range of housing laws. This broad housing reform law will modernize housing regulations and address long-standing court backlogs, and in a practical manner, assist landlords with shortened notice and filing requirements for lawsuits. The Act introduces changes to eviction procedures, adjusts pre-filing notice timelines, and modifies certain tenant protections under previous legislation, the Tenant Opportunity to Purchase Act.
At the same time, the District has expanded its Rent Registry, to have a better overview of licensed rental units in the city with updated technology that tracks rental units subject to and exempt from rent control and other related housing information. Designed to improve transparency and enforcement, Rent Registry makes it easier for all parties to verify rent control status and compliance.
Looking ahead to the 2026 election cycle, a proposed ballot initiative for a two-year rent freeze is generating significant conversation. If it qualifies for the ballot and is approved by voters, the measure would pause rent increases across the District for two years. While still in the proposal phase, it reflects the broader focus on tenant affordability that continues to shape housing policy debates.
What This Means for Rental Owners
Taken together, these changes underscore how closely policy and day-to-day operations are connected for small landlords. Staying informed about notice requirements, registration obligations, and evolving regulations isn’t just a legal necessity. It’s a key part of maintaining stable, compliant rental properties.
With discussions underway about rent stabilization, voucher policies, and potential rent freezes, long-term revenue projections will be influenced by regulatory shifts just as much as market conditions alone. Financial and strategic planning becomes even more important to protect your interests.
Preparing for the Changes
As the owner of a property management company here in the District, I’ve spent much of the past year thinking about how these changes translate from legislation into real-world operations.
The first priority has been updating our eviction and compliance workflows to align with the RENTAL Act of 2025. That means revising how delinquent rent cases are handled, adjusting notice procedures, and helping owners understand how revised timelines and court processes may affect the cost, timing, and strategy behind enforcement decisions.
Just as important, we’re shifting toward earlier, more proactive communication around compliance and regulatory risk. Rather than reacting after policies take effect, we’re working to flag potential exposure in advance, so owners can make informed decisions before small issues become costly problems.
A Bigger Picture for 2026
Housing policy in Washington, D.C., has always reflected the city’s values from protecting tenants to preserving affordability in rapidly changing neighborhoods. As those policies continue to evolve, the challenge will be finding the right balance between stability for renters and sustainability for the small property owners who provide much of the city’s housing.
The conversations happening now at policy summits, in Council chambers, and across neighborhood communities will shape how rental housing is regulated. For landlords, tenants, and legislators alike, 2026 represents an opportunity to engage thoughtfully, to ask hard questions, and to create a future where compliance, fairness, and long-term stability go hand-in-hand.
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