The District of Columbia ranks as the fifth most attractive jurisdiction for real estate business opportunities in a survey of European firms with subsidiaries in this country.
Mead Ventures Inc., a Phoenix-based publisher that conducted the survey, said California, New York, Florida and Georgia were ranked higher by the European firms. Among metropolitan areas, only Los Angeles and New York were perceived as better real estate markets than the District.
Among the factors named most important for selecting areas in which to focus real estate activity were strength of the local economic climate, health of the real estate market, economic growth in a specific community and demographics.
In a similar study of Japanese subsidiaries in this country, the Pacific Coast states proved more popular. Hawaii, which was 27th in the European survey, was third on the Japanese list.
At the height of the summer beach season, crews started pumping sand this week to initiate the second phase of the beach replenishment project at Ocean City, Md.
The pumping started at 85th Street, and crews will alternate between working toward the north and then south, in what was described as a "kind of a leapfrog effect" by Nancy Howard, project manager for the beach replenishment effort.
The second phase of the sand pumping, which will be used to build a dune line, will proceed in much the same way as the first phase of sand pumping two summers ago. The first phase extended and rebuilt the beach, creating a 220-foot buffer intended to guard against erosion.
IN THE BUSINESS ... Archaeologists at the site of a new development in Anne Arundel County uncovered artifacts dating back more than 4,000 years and soil samples that appear to be more than 6,500 years old. In the dig, R. Christopher Goodwin and Associates, an archaeological investigation firm at the new Russett development, turned up thousands of stones and flakes of stones used to make tools and projectile points that probably were used as knives. Burned wood, charcoal and fire-cracked rock document the presence of an oak-chestnut forest in the area 6,500 years ago. The project is being developed by the Russett Center L.P., with Curtis F. Peterson Inc. as the managing partner ... The Howard County Association of Realtors reported that sales of single-family homes in the county were 297 in May, an increase of 20 percent from 247 during May 1989. The average price was $186,056. Year to date, 1,198 units sold, up 14 percent from 1,045 in the first five months of 1989. Condominium sales declined in May with 42 units sold, down 14 percent from 49 during May 1989 ... Fourteen of the nation's top 20 housing markets had lower single-family building permit activity in the first quarter of this year compared with the same period in 1989, the National Association of Home Builders reported. Permits dropped 3.9 percent overall since last year. Washington's metropolitan area saw 6,500 permits issued, down 16.7 percent from 7,810 during April 1989, according to Census Bureau figures. Nonetheless, the area's total still was third highest number of permits issued. ... The Summit, a three-story building in Gaithersburg, was one of seven buildings in North America to receive an award at a convention last week of the Building Owners and Managers Association. The building was noted for its contemporary design, which blends with the suburban surroundings without being overbearing ... American Security Bank plans to provide $2.78 million in financing for construction of Lincoln Mews, 22 town houses at Eighth and G streets NW. The site will be developed by a limited partnership between Berens & Borges Inc. and H Street Investment Corp. ... Suburban Mortgage Associates Inc. and Summit Resources Group formed a joint venture called Suburban/Summit Mortgage Co. to produce and service Federal Home Loan Mortgage Corp.'s permanent mortgage loans on apartments ... Prince George's County saw more than 2.7 million square feet of space developed for commercial purposes in 1989, an increase of 2.8 percent from 2.6 million square feet in 1988, the Prince George's County Economic Development Corp. reported ... Jacqueline Simon and Mimi Selig of the Montgomery County Association of Realtors received the Maryland Association of Realtors Equal Opportunity in Housing Award ... The George Hyman Construction Co. and the Evans Co. of McLean received contracts to build and develop a 460,000-square-foot postal facility in Loudoun County ... Bach and Associates Inc. Realtors created a new relocation division for businesses and people moving to Frederick County.
PERSONNEL FILE ... Carey Winston Co. named Ken Goldberg vice president for retail commercial leasing.