REGIONAL NEWS

Open-Ended Equations
How Stable Is Washington's Housing Market? It All Depends on How You Do the Math.

By Tomoeh Murakami Tse
Washington Post Staff Writer
Thursday, April 20, 2006; Page D01

Home buyers beware: The Washington region is now one of the most precarious real estate markets in the nation, according to reports by economists, banks and industry analysts.

But wait a minute. Maybe it's one of the safest, according to reports by other economists, banks and industry analysts.

PMI Mortgage Insurance Co. this month ranked Washington among the 20 riskiest housing markets. A Global Insight/National City analysis determined that housing over-valuation here is "extreme." And investment-banking firm Friedman Billings Ramsey Group Inc. of Arlington has identified the region as one of 69 around the country hosting real estate bubbles. 

http://www.washingtonpost.com/wp-dyn/content/article/2006/04/19/AR2006041902320.html

March Housing Starts, Permits Decline

Reuters
Tuesday, April 18, 2006; 8:42 AM

WASHINGTON (Reuters) - The pace of U.S. housing construction slowed more than expected in March as both the rate of starts and permits declined to their lowest levels in a year, the government said on Tuesday in a report suggesting further cooling in the market.

The Commerce Department said March housing starts fell 7.8 percent to a 1.960 million unit pace from an upwardly revised 2.126 million unit rate in February.

Economists had expected groundbreaking on new homes to ease to a 2.030 million unit pace from February's originally reported rate of 2.120 million units.

http://www.washingtonpost.com/wp-dyn/content/article/2006/04/18/AR2006041800545.html

Ehrlich Petition Drive Challenges Early Voting
Governor Seeks Ballot Measure on Overturning Law That's Expected to Boost Democrats' Turnout Edge

By Matthew Mosk
Washington Post Staff Writer
Wednesday, April 19, 2006; Page B08

Maryland Gov. Robert L. Ehrlich Jr. will harness a large network of campaign workers to launch a major petition drive that aims to scotch plans for early voting in the fall.

The petition drive, if successful, would ask the state's voters to overturn a 2005 law that orders polling places to stay open 13 hours a day during the week leading up to Election Day. More crucial to Ehrlich (R), who is seeking reelection in November, it would automatically postpone early voting entirely this year.

Petitioning legislation onto the ballot has occurred rarely in Maryland. For Ehrlich to prevail, his campaign team would have to collect 51,185 valid signatures by June 30 and overcome a recent legal opinion by the state attorney general's office, which asserted that the petition drive needed to occur last year to get on the ballot this fall.

http://www.washingtonpost.com/wp-dyn/content/article/2006/04/18/AR2006041801527.html

Cardin still leads Mfume, Steele in polls for Senate

by Jared S. Hopkins
Capital News Service
Friday, April 21, 2006

U.S. Rep. Benjamin L. Cardin continues to lead all comers in the U.S. Senate race, a new poll shows.

If the state's Democratic primary election were held today, Cardin would win 39 percent of the vote and his nearest rival, Kweisi Mfume, would capture 31 percent, according to a survey by Gonzales Research & Marketing Strategies of Annapolis. Mfume is a former congressman and ex-chairman of the National Association for the Advancement of Colored People.

And should Cardin win the Sept. 12 primary and face Lt. Gov. Michael S. Steele, the likely GOP nominee, the poll shows him winning with 49 percent to Steele's 35 percent, with 16 percent undecided.

http://www.gazette.net/stories/042106/polia%20s193625_31945.shtml

Progressive Maryland endorses Duncan in gubernatorial race
Group frustrated by O'Malley's refusal to give 'yes' or 'no' answers

Friday, April 21, 2006

Montgomery County Executive Douglas M. Duncan won Progressive Maryland's endorsement for governor this week, taking the social advocacy group's support from rival Baltimore Mayor Martin O'Malley.

More than two-thirds of the board of directors voted to endorse Duncan (D). The rest of the board took no position, Executive Director Tom Hucker said.

Progressive Maryland's endorsement is "one of the more significant," said Matthew Crenson, a political science professor at Johns Hopkins University. "It represents people who are politically attentive, politically active and who talk to other people who vote."

http://www.gazette.net/stories/042106/polia%20s193626_31948.shtml

Floyd's in, Ficker's still out of affording housing debate

Friday, April 21, 2006

Republican Charles R. "Chuck" Floyd will join a panel of Democratic Montgomery county executive candidates at an affordable housing conference next month, but the sole independent candidate will not appear alongside them.

Floyd, Isiah "Ike" Leggett and Steven A. Silverman will discuss solutions to the county's affordable housing crisis on May 3 during Affordable Housing Conference's annual summit. AHC has come under fire for excluding Floyd or Independent Robin Ficker from the discussion with the Democrats.

"We were trying to figure a way to make peace and we cannot possibly fit two more people into that slot because our entire agenda would have to be changed," said Barbara Goldberg Goldman, AHC's co-chairwoman.

http://www.gazette.net/stories/042106/polia%20s193625_31946.shtml

Allen Backers Teem Southside
Senator Reigns at Shad Planking, Va.'s Annual Political Rite

By Amy Gardner
Washington Post Staff Writer
Thursday, April 20, 2006; Page B04

WAKEFIELD, Va., April 19 -- The "Sportsmen For George Allen" signs started popping up along the flat countryside of Southside Virginia about 10 miles shy of the town. At the event itself -- in a rural clearing to the south -- nothing short of a sea of bright blue Allen paraphernalia bobbed through the crowd.

More accurately, the Allen fans were the crowd. At the 58th annual Shad Planking, where Virginia's political set heralds campaign season each April, it was hard to find someone who doesn't plan to vote for the Republican U.S. senator this fall. And it was hard to see the candidate himself as he made his way slowly through an adoring throng of beer-drinkers, cigar-smokers and gobblers of the planking's famous plates of fish, coleslaw and beans.

All of which raises two possibilities regarding this fall's U.S. Senate race in Virginia: Either Allen's fall opponent has a steep hill to climb, or the first-term senator and former governor just basked in the friendliest crowd he's likely to see all year.

http://www.washingtonpost.com/wp-dyn/content/article/2006/04/19/AR2006041902774.html

Va. Vetoes Withstand Override Attempts
General Assembly Still Stalemated On Transportation

By Michael D. Shear
Washington Post Staff Writer
Thursday, April 20, 2006; Page A01

RICHMOND, April 19 -- Democratic Gov. Timothy M. Kaine fought back Republican attempts to override seven vetoes Wednesday, a small victory in an increasingly hostile relationship with lawmakers marked by their failure to agree on how to improve Virginia's transportation system.

Republicans in the House of Delegates and Senate had attempted to strip Kaine and all future governors of the power to pick members of two tobacco policy panels and the board that directs the state's transportation program. Kaine vetoed the bills, calling them an unwise shift in power to the legislative branch.

Lawmakers also failed to override Kaine's veto of a gun rights measure that would have allowed Virginians to store guns unseen in their cars without a concealed weapons permit. Kaine had called the bill a danger to police.

http://www.washingtonpost.com/wp-dyn/content/article/2006/04/19/AR2006041901730.html

City Council Race Draws Largest Field In Recent Years
Real Estate Assessments And Development Are Key Issues

By Lisa Rein
Washington Post Staff Writer
Thursday, April 20, 2006; Page VA25

The Fairfax City Council race features the stiffest opposition to incumbents in a decade, with five challengers trying to unseat the six current members May 2.

In the city of 21,500, bisected by Routes 236 and 29 south of Interstate 66, the hot-button issues are soaring real estate assessments and what some see as too much development. Incumbents point with pride to progress in the long-awaited redevelopment of downtown.

The six seats, all citywide, are up for grabs. Mayor Robert Frederick Lederer is one of seven Northern Virginia mayors running unopposed, though, and will glide to a third two-year term.

http://www.washingtonpost.com/wp-dyn/content/article/2006/04/19/AR2006041901238.html

Election Contests, For a Change
Concerns Rooted In Development

By Alec MacGillis
Washington Post Staff Writer
Thursday, April 20, 2006; Page VA23

After several years of sleepy elections, the town of Vienna is being treated to a choice between candidates -- with some negative campaigning thrown in for good measure.

Mayor M. Jane Seeman is being challenged for the first time in the nonpartisan elections since she took office six years ago, by longtime council member George E. Lovelace. And the three council members who are up for reelection -- Laurie Genevro Cole, Edythe Frankel Kelleher and Michael J. Polychrones -- are having to defend their seats against two newcomers, R. Blair Jenkins and Susan Yancey Stich.

This contrasts with the lack of competition that has characterized recent elections. Last year, with only three candidates running for the three available council seats (members serve two-year terms, with elections held annually on a staggered schedule) only 561 people voted, out of about 10,000 registered.

http://www.washingtonpost.com/wp-dyn/content/article/2006/04/19/AR2006041901212.html

MetroPark Sells for $207M

By Barbra Murray
Last updated: April 19, 2006  11:24am

SPRINGFIELD, VA-For $207 million, ING Clarion has purchased MetroPark. The Fried Cos. sold the 410,000-sf office portfolio. The firm developed the first of the office park's four structures starting in 2000.

In addition to the four buildings--6350, 6354, 6355 and 6359 Walker Lane--the property comes with a parcel of land that can accommodate the development of an additional 515,000 sf of commercial space. Cushman & Wakefield's Peter Berk, Warren Dahlstrom, Jim Luck, David Millard and Chip Ryan orchestrated the transaction.

Situated at a transit hub, the Joe Alexander Transportation Center, MetroPark provides a location in the suburban Washington, DC area of Fairfax County. "The MetroPark complex is ideal for Department of Defense and other agencies, as well as government contractors," Berk notes. "Location, Metro access, security, abundance of parking and proximity to residential areas are all benefits for tenants." ING Clarion has tapped C&W to handle leasing responsibilities.

http://www.globest.com/news/520_520/washington/144953-1.html

Government Contractor Leases 20,000 SF

By Barbra Murray
Last updated: April 20, 2006  10:28am

ARLINGTON, VA-Defense Holdings Inc. will be added to the tenant roster at 1005 N. Glebe Rd. The contractor has committed to occupying 19,800 sf of space in the 142,500-sf Ballston submarket office building.

The engineering and technology company, which maintains its headquarters in Manassas and had been leasing various office spaces in the area for the last several years, signed an eight-year lease with property owner Light Street Partners Ballston LP. Jones Lang LaSalle represented Light Street, while Gersten Commercial Real Estate repped DH.

Further details of the lease agreement have not been disclosed. Jones Lang LaSalle is presently marketing space in the class A office facility for $30 to $32.50 per sf.

http://www.globest.com/news/521_521/washington/144993-1.html

430,800 SF of Spec Office Space Gets Under Way

By Barbra Murray
Last updated: April 17, 2006  11:11am

HERNDON, VA-More class A office will soon hit the market in the area now that Tishman Speyer has announced that construction has gotten under way on three spec buildings totaling 430,800 sf. Jones Lang LaSalle has been charged with handling leasing activities for all properties.

At Woodland Park here, Tishman Speyer is developing the 184,000-sf Woodland Pointe, a six-story structure with five levels of underground parking. Space is being marketed in the building, which will carry the address of 2260 Woodland Pointe Ave., for $38 per sf. In Chantilly, a twin-building portfolio known as Plaza East will grace the Westfields Corporate Center. Offering 123,400 sf of space each at $32 per sf, the five-story structures will sit at 14291 and 14295 Park Meadow Dr.

"We are very bullish on the market in Northern Virginia," says TS regional managing director Jim Evans. "We have two of the best developments and locations in their respective submarkets, and we want to take advantage with the construction of high quality buildings that will benefit from the continued strong demand from tenants fueled by the continued job growth in this region."

http://www.globest.com/news/518_518/washington/144867-1.html