Neighborhood Profiles 2012DC
The Washington, DC Economic Partnership would like to acknowledge our sponsors whose continued financial support has made the DC Neighborhood Profiles 2012 possible.
Vincent C. Gray, Mayor
PUbliC seCTor PArTNers
PriVATe seCTor PArTNers
© 2012 Washington, DC Economic Partnership
The District of Columbia has been experiencing an urban renewal for the past 15 years, with billions of dollars in new investments in its downtown, neighborhoods and along its waterfront. These developments along with new retail, restaurants and entertainment options have resulted in national recognition of DC as a top tier investment market.
#1Healthiest Retail Market in the U.S.1
Best Cities for Families2
Quality of Life3
#2 Global Real Estate Investment Market4
#7 Walkable City in U.S.5
Sources: 1. ChainLinks, 2011 2. Parenting magazine, 2011 3. FDi, 2011 4. AFIRE, 2012 5. Walkscore.org, 2011
DC LeaDs The NaTioN iN PoPuLaTioN GrowThFrom 2010 to 2011, DC’s population grew at a faster rate (2.7%) than any other U.S. state and over the past four years DC’s residential base has increased by more than 43,590 people. Fueling this population growth has been young professionals who are attracted to DC’s revitalized neighborhoods, unique retail and restaurant offerings and various transportation options. With Metrorail, DC Circulator, Zipcar, Metro bus and the expanding Capital Bikeshare program many residents do not need to own a car and thus have more disposable income.
DC’s Population Has Increased By More Than 43,590 People
20112010200920082007
574,404580,236
592,228
604,453
617,996
Source: Census
DC has uNmeT reTaiL DemaND of $1 BiLLioNWith only 8.6 square feet per capita of shopping center space (compared to 23.3 square feet nationally) in DC, there is an estimated retail leakage of $1 billion annually. In addition, with a daytime population of more than one million people and 17.3 million annual visitors who spend $5.68 billion, investors and developers have been building new retail centers to meet this unmet demand. Since 2001, 4.4 million square feet has been built with another one million square feet under construction as of 4Q 2011.
Select Retail Projects Under Construction
Neighborhood Retail Sq. Ft. Delivery
Rhode Island Row Rhode Island Avenue (34) 70,000 1Q 2012
Boilermaker Shop Capitol Riverfront (7) 32,540 4Q 2012
The Shops at Dakota Crossing New York Ave/Bladensburg Rd (29) 430,000 4Q 12 – 2Q 13
360 H Street H Street, NE (22) 42,700 2Q 2013
CityCenterDC Downtown DC (15) 184,700 4Q 2013
Progression Place Shaw (35) 19,200 4Q 2013
1212 4th Street Capitol Riverfront (7) 110,000 4Q 2013
CUA South Campus Redevelopment Brookland (6) 83,000 4Q 2013
CityMarket at O Street Shaw (35) 80,000 4Q 2013
3 Constitution Square NoMa (30) 20,000 4Q 2013
DC’s NeiGhBorhooDs are CoNTiNuiNG To GrowDC’s population growth and public and private investments can be experience throughout the City. National accolades have followed with several neighborhoods being recognized as great places to live and visit.
U street named one of the Great Streets in the U.S.1
h street chosen as one of the 10 Great Urban Neighborhoods2
The Capitol riverfront’s Yards Park was voted a top 20 Public Spaces in the United States and Canada3
Columbia heights was named one of the 10 best development projects in the Americas4
barracks row Main Street received the National Trust for Historic Preservation’s Great American Main Street Award for its revitalization of 8th Street, SE5
Sources: 1. American Planning Association, 2011 2. USA Today, 2011 3. Planetizen, 2011 4. ULI, 2010 5. National Trust Main Street Center, 2005
With thousands of new residents, new grocery stores and restaurants, neighborhoods such as Capitol Riverfront, Mount Vernon Triangle and NoMa have transitioned from emerging to established mixed-use districts. Corridors such as 7th and F Streets in Downtown DC, 14th & U Streets/MidCity as well as H Street, NE are re-establishing their historical status as shopping and entertainment destinations. And with the commitments of anchor tenants such as Costco and Walmart, projects such as the Shops at Dakota Crossing, Skyland Town Center and Capitol Gateway Marketplace will create additional opportunities for restaurants and local retailers.
For more information on DC’s neighborhoods, incentives and resources available to retailers please continue reading the Washington, DC Economic Partnership’s DC Neighborhood Profiles. These profiles offer a concise overview of 37 neighborhoods and commercial corridors. They provide detailed demographic information, resources, maps and the latest neighborhood updates to help retailers and related parties to identify new investment opportunities.
WELCOME TO E ERYWHEREWORK A LITTLE. LIVE A LITTLE. PLAY A LITTLE.From the White House to Dupont Circle, the Golden Triangle has a little of everything and that adds up to a lot: more than 3,600 restaurants, shops, hotels, and businesses call the Golden Triangle home. WWW.GOLDENTRIANGLE.COM
eNTerPrise ZoNeThe District of Columbia “Enterprise Zone” (EZ) Program was established in 1997 by the Federal Government to stimulate economic growth and job development in the nation’s capital. The program offers these benefits to qualified businesses:
• EmployeeTaxCredits | up to $3,000 for each DC resident employee (full or part-time)
• WorkOpportunityCredits | up to $2,400 for each employee from targeted demographic groups
• Welfare to Work Credits | up to $3,500 and $5,000 for the first and second years of employment, respectively, for workers receiving long-term family assistance
• EZBonds—TaxExemptBondFinancing | up to $15 million in below-market interest rate loans (as much as 200 basis points below the market rate). Activities such as construction and renovation of a building, equipment acquisition, land and building acquisition and tenant improvements may be financed through EZ Bonds
• ExclusionofCapitalGainsfromDCZoneAssets | eliminates capital gain in gross income from qualified property sale or exchange (properties must be held more than 5 years)
Contact: 202.727.6365 | dmped.dc.gov
suPermarkeT Tax CreDiTsThrough the Supermarket Tax Exemption Act of 2000, the District waives certain taxes and fees to supermarkets that locate in a Priority Development Area. Qualifying supermarkets may receive the following benefits for 10 years:
Real property tax exemption | Business license fee exemption | Personal property tax exemption | Sales and use tax exemption on building materials necessary for construction
Contact: 202.727.6365 | dmped.dc.gov
oNe CiTy oNe hire One City One Hire is an employer-driven hiring initiative with the goal of putting District residents back to work. The expense to businesses to hire new employees can be a costly investment in both time and money. The DC Department of Employment Services (DOES) can help employers defray some of these costs by facilitating training, recruitment, screening processes for potential hires as well as tax incentives and wage subsidies. Additional DOES programs, services and tax-based employer incentives include the following:
On-the-Job Training (OJT) Program | Apprenticeship Program | Work Opportunity Tax Credit (WOTC) | Project Empowerment (PE) | Senior Community Service Employment Program (SCSEP) | Virtual DC Works! Career Center System
Contact: 202.698.5141 | onecityonehire.org
dC MAiN sTreeTs
Through DC Main Streets, DSLBD provides comprehensive technical and financial assistance to build the capacity of neighborhood nonprofit organizations (i.e., DC Main Street organizations) to assist businesses and coordinate sustainable community-driven revitalization efforts. The DC
Main Street organizations are Nationally Accredited Main Streets through the National Trust for Historic Preservation. Local volunteers and community development professionals organize and lead the DC Main Street commercial district revitalization efforts.
Contact: 202.727.3900 | restore.dc.gov
Main Street Neighborhoods: Barracks Row (4) | Congress Heights (13) | Deanwood (14) | Dupont Ciricle (16) | H Street, NE (22) | North Capitol (31) | Shaw (35)
reTaiL iNCeNTives & resourCes
Retail Incentives & Resources continued on last page
1 14th&UStreets/MidCity
2 AdamsMorgan
3 Anacostia
4 BarracksRow
5 Bellevue/SouthCapitol
6 Brookland
7 CapitolRiverfront
8 Central14thStreet
9 ChevyChase/FriendshipHeights
10 Chinatown
11 ClevelandPark
12 ColumbiaHeights
13 CongressHeights
14 Deanwood
15 DowntownDC
16 DupontCircle
17 FortTotten
18 Georgetown
19 GeorgiaAvenue/WalterReed
20 GloverPark
21 GoldenTriangle
22 HStreet,NE
23 Hillcrest/Skyland
24 HowardUniversity/PleasantPlains
25 KennedyStreet
26 Minnesota&Benning
27 MountPleasant
28 MountVernonTriangle
29 NewYorkAvenue/BladensburgRoad
30 NoMa
31 NorthCapitol
32 PennsylvaniaAvenue,SE
33 Petworth/ParkView
34 RhodeIslandAvenue,NE
35 Shaw
36 SouthwestWaterfront
37 Takoma
Neighborhoods
Ne
sesW
NW
1
19
37
2
12
33
25
17
6
22
7
3
4
32
13
5
23
30
14
34
29
26
9
8
24
31
36
35
10
16
20
15
1828
21
2711
14th & U/ MidCity
georgia Avenue/Walter reed
Takoma
Adams Morgan
Columbia heights
Petworth/Park View
Kennedy street
Fort Totten
brookland
h street, Ne
Capitol riverfront
Anacosita
barracks row
Pennsylvania Avenue, se
Congress heights
bellevue/ south Capitol
hillcrest/ skyland
NoMa
deanwood
rhode island Avenue, Ne
New York Avenue/ bladensburg road
Minnesota & benning
Chevy Chase/ Friendship heights
Central 14th street
howard Univeristy/ Pleasant Plains
North Capitol
southwest Waterfront
shaw
Chinatown
dupont Circle
glover Park
downtown
georgetown
Mt Vernon Triangle
golden Triangle
Mount Pleasant
Cleveland Park
GreaT sTreeTs iNiTiaTiveThe Great Streets Initiative is a multi-year, multiple-agency effort to transform nine under-invested corridors into thriving and inviting neighborhood centers. The Office of the Deputy Mayor for Planning and Economic Development is partnering with the District Department of
Transportation and the Office of Planning to manage the program. Millions of dollars are being spent to leverage new private and not-for-profit investments along nine corridors. For more information, please visit www.ddot.dc.gov or www.dmped.dc.gov.
Great Street Corridors: Georgia Avenue | H Street, NE/Benning Road, NE | Martin Luther King Jr. Avenue/South Capitol Street | Minnesota Avenue | Nannie Helen Burroughs Avenue, NE | Pennsylvania Avenue, SE | Rhode Island Avenue, NE
washiNGToN, DC eCoNomiC ParTNershiPIt is the mission of the Washington, DC Economic Partnership, a 501(c)3 organization, to promote business opportunities throughout the District of Columbia and to contribute to business retention and attraction activities.
The Washington, DC Economic Partnership supports local and small DC businesses through our programs and services focusing on business development, education of the real estate market and business opportunities. To learn more about the Washington, DC Economic Partnership please visit www.wdcep.com.
reTaiL iNCeNTives & resourCes (cont.)
MAKE NEW CONNECTIONS
> 40,000 daytime employees> 2,800 new residential units occupied or under construction> New Class A office buildings, downtown convenience and attractive prices
In a city where connections mean everything, NoMa delivers an enviable setting just four blocks from the Capitol and steps from Union Station.
LIVE