The huge bulk of Maryland’s 5,000,000+ population is centered in the Baltimore/Washington DC area, along with their suburbs and exurbs. These range from some of the poorest to the richest areas in the nation, full of challenges and promises. Because of this, the state of Maryland is very aggressive in promoting tax incentives and other benefits for MDU developers. Here are some of the main factors influencing Maryland MDU construction:
- Baltimore. It is true that Maryland’s economy hasn’t been as quick to get out of the economic collapse as some states, but a surprising exception to that is Baltimore, its largest city. Baltimore has seen rough times, but it looks to be picking up, and that will mean lots of new MDU construction, particularly in lower or mixed-income housing developments, but also in newer apartment buildings, townhouses, and condos. As the economy continues to rebound, expect more MDU construction up and down the line.
- Washington DC area. Bethesda, Potomac, and Silver Springs are communities virtually synonymous with the DC economy. One of the many benefits of being near the capital is the constant influx of new staffers, department officials, and campaign teams. It is an industry where young people come and go based on the whims of elections, and so flexible housing is always needed.
- College Park. The University of Maryland, and other state and private colleges, are expanding and in need of solid housing options. The vibrant university system provides a unique market for both on- and off-campus housing solutions.
Whatever your Maryland MDU construction project, Aerial Electric is here to provide electrical expertise, from the design and budget phase, to when the lights turn on. Contact us today to see how our electrical consulting and construction expertise can turn your project into a success!