"We're definitely getting a consumer that's priced out of the market," said Ballard. "They look at older resales, and now they get to come and look at something that is brand new, and so that's a great difference, when you're comparing a 1970s build, older-type condominium with something that's brand new with all new fit and finish."
The building has a rooftop sundeck and modern lobby, and most units have a small terrace, but it's the add-on amenities in the teeny studio models that attract the most attention. Of course, the bed pulls out of the wall, but a dining table pulls down from a hanging picture frame as well. A sofa is built in to the bottom of the bed and stores the bedding. Kitchen appliances are all high-end, but they are slightly smaller than normal. The refrigerator is by Blomberg, a German company that is making a mint off the new trend in slimmer appliances.
Ballard claims that it is cheaper to buy at the Ontario than rent in D.C.'s red-hot apartment market. The vast majority of new development in the past five years in the multifamily sector has been on the rental side. Very few condominiums are going up, but the popularity of the tiny trend could change that.