April 17, 2012 - Capitol Riverfront · 2012. 4. 20. · be out FRONT •3,500+ = total estimated...

transcript

April 17, 2012

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BID Boundaries

• I-395

• Anacostia River

• 15th St, SE

• S. Capitol St.

• Section of Buzzards

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• 20 mile riverwalk trail

• Nearly 500 acres

• 36+ million total SF

• 2 miles of riverfront

• 3 new parks (12.5 acres)

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• BRAC decision consolidates space to Navy Yard (1995)

• Downtown DC approaching build-out (1997 – 2011)

• HOPE VI Capper Carrollsburg Grant & USDOT Site Selection (2001)

• Anacostia Waterfront Initiative Framework Plan (2003)

• Forest City selected to redevelop 42 Federal acres (2004)

• Baseball returns to DC & new stadium site selected in Capitol Riverfront

(2005)

• New U.S. Dept. of Trans. HQ opens adding 6,750 employees (2007)

• Nationals Park opens (2008)

• New residential towers & townhomes establish urban neighborhood and

(2008 – 2011)

• 75,000 SF of retail leases signed including 50,000 SF Harris Teeter (2011)

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• New era of access to the river in DC

• 2 miles of riverfront frontage with docks and future marina

• “Green” neighborhood with 4 parks and part of 20 mile riverwalk trail

• One of six places to live, work, play on the water in the DC region

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Regional transportation accessibility

• Three Metro subway lines - Green, Orange & Blue

• Two interstate freeways – I-295 & I-395

• Circulator Bus to Union Station and Red Line

• Water taxi service, charter boats and commercial ferries

• 10 – 15 min. cab ride to Reagan Airport

• Proximity to US Capitol, Downtown, and Capitol Hill Residential

• Access to Nationals Park, Arena Stage, restaurants and entertainment

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• Riverfront destination

• Business center

• Urban neighborhood

• Neighborhood support retail

• High quality public realm

• Parks & gathering spaces

• Entertainment district

• Identity, place & historic fabric

• Urban walkability – 5 minute neighborhood,

existing walk score of ~80 – very walkable

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Estimated

Delivery Office Sq. Ft. Retail Sq. Ft. Res. Units Hotel Rooms Total Sq. Ft. Est. Total Cost

Completed 6,888,040 182,129 2,677 204 11,225,493 $2.6 billion Under

Construction 362,000 154,500 584 0 1,171,500 $644 million

Planned 8,148,130 645,487 5,871 921 24,329,935* $5.9 billion

Totals 15,398,170 982,116 9,132 1,125 36,726,928* $9.1 billion

Source: Capitol Riverfront BID 4Q/YE 2011

•Total sq. ft. numbers include the allowed zoning by right on lots where a

building program has not yet been determined

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3,261 Existing/under cons. residential units, 90+% occupied (3,500+ residents,

31,906+ within 1 mile)

Navy Yard 16,000 Employees

Capitol Hill Residential

7.2 million total SF existing/under cons. office space, (35,000+ daytime population)

US DOT HQ

2 million visitors

Forest City’s The Yards

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• 3,500+ = total estimated Capitol Riverfront population

• 90+% of existing 2,677 TOTAL units are occupied

• 31,906+ live within 1 mile of 3rd and M Street

• Forest City Foundry Lofts, 170 now over 80% leased

• Capitol Quarter Townhomes Phase II nearing completion

• Camden South Capitol 276-unit apt, under construction

• 1212 4th Street w/Harris Teeter under construction

*Capitol Riverfront BID 4Q/YE 2011

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• 163 townhomes in phase II – construction nears completion,

100% sold out – completion in 3Q-4Q 2012

= Phase I - completed

= Phase II – completed

and under construction

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• William C. Smith is planning 430 units targeted to

begin construction in 3Q of 2012

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• SQ 882 Multifamily – 189 loft apartments by

DCHA/Urban Atlantic – targeting groundbreaking

by end of year – will include market rate and

affordable units – 600 block of L Street, SE

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• 35,000+ = daytime population

• 1,200-1,400+ additional employees in 2012

• 6.9 million total SF (Private & Gov. owned)

• 362,000 SF under construction

• 16.6% = 1Q 12 private market vacancy rate*

• $45.22 = 1Q 12 avg. Class A full service asking rental rate*

• Since 2001, the CR BID has averaged 200,000 SF of office absorption per year (this does NOT include the USDOT HQ)

*CoStar, CB Richard Ellis

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• 200 I Street – renovation nearing completion.

350,000 SF & on schedule for tenant occupancy in

summer 2012 bringing 1,200 – 1,400 new

employees

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• Justin’s Café serving pizza, salads, sandwiches + full bar

• Cornercopia Market + Deli offers gourmet sandwiches and a small market.

• Potbelly Sandwich Works & Lot 38 Espresso Bar NOW OPEN

• Five Guys, Starbucks, Chicken Tortilla, Subway, Quiznos and other fast casual

• Harry’s Reserve open in 909 New Jersey Avenue, SE

• Barracks Row restaurant explosion Ted’s Bulletin, Cava, Matchbox, 30+ total

• CVS Pharmacy, Congressional Cleaners, and three banks

• 9 new restaurants, second cleaners and Bank of America in next 12 months

• Harris Teeter in 4Q ’13 – 1Q ’14

• 75,000 SF of retail leases signed in 2011(25,000 SF of restaurants)

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Opening in 1Q-2Q 2012

• Lot 38 Espresso Bar

• Potbelly

• Kruba Thai & Sushi

Opening in fall 2012

• Huey’s 24/7 Diner

Opening in Summer 2012

• Park Tavern at Canal Park

Opening in 4Q 2012

• Brewery/restaurant by Neighborhood Restaurant Group

• Buzz Bakery & Lounge

• Willie’s Brew & Que

Opening in 2013

• Osteria Morini

Opening in 4Q 2013 – 1Q 2014

• Harris Teeter grocery store

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Canal Park fall 2012

The Yards Riverfront Park

The Riverwalk Trail

Diamond Teague Park & Piers

VA Ave. Park

Riverwalk Connection

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DOT HQ

(6,750 Employees) Capitol Hill

Future

Residential

Future

Residential

Future

Residential

Future

Residential

and office

1100 NJ

Avenue

2nd Place

3rd Street

Capitol Quarter

PH II delivering

2011 through 2012

323 homes total

200 I Street

DC Government

1,200 – 1,400 new

employees Summer 2012

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Monument & Akridge Half Street

Forest City’s The Yards

• 645,000 SF office

• 620 residential units

• 105,000 SF retail

• 200-room boutique hotel w/ bar

• Urban Marketplace in Akridge’s The Via

• Pedestrian gateway to the new ballpark

• 42 acre site fronting on the river

• 1.8M+ SF office

• 2,800+ residential units – 400 in ‘11 – ‘14

• 400,000 SF retail - 170K in ‘11 – ‘14

• Use of several historic Navy Yard

buildings in projects

• 5 acre riverfront park NOW OPEN

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= Foundry Lofts

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170 Loft Apartments

10,000 SF ground floor retail

Completed in November 2011

Now over 80% leased

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= Boilermaker Building

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45,500 SF of restaurant, retail, & office space

Delivery in 4Q 2012

(microbrewery and restaurant)

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= Lumber shed

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Osteria Morini by award winning Chef Michael White

Forest City Washington offices on second floor

Construction targeted to commence in May/June

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= 1212 4th Street

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225 residential units

110,000 retail SF (50,000 SF Harris Teeter Grocery Store, 30,000 SF Health Club)

Under Construction w/delivery in 4Q 2013 – 1Q 2014

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Existing 275,000 SF office

building (85+% leased)

Planned 196 room hotel

Planned 320 residential units

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370,000 SF of office

55,000 SF of retail

280 residential units

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• 545,000 SF of office

• 80,000 SF of retail

• 275 Residential Units

• 325 Hotel Rooms - Existing approved PUD

Florida Rock has entered into a J/V with MRP Realty

for phase I and likely phase II

Proposed change switches phase I from office to a 200

unit apartment building

Targeting 2013 for phase I groundbreaking

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New bridges well under way targeted to be completed in July 2013

Old downstream span being investigated by OP for reuse

Find out more at http://ddot.dc.gov/11thstreetbridge

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Currently in the public scoping process of the NEPA process

Next public meeting should be in the next few months

Find out more & calendar at www.virginiaavenuetunnel.com

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New Bridge targeted to begin

construction in 2013 or 2014

DDOT has started land acquisition

process

Goal to have new bridge completed

between 2016 or 2017

For more information visit

http://ddot.dc.gov

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Long term plan that will virtually

eliminate the combined sewer

overflow (CSO) problem within the

District of Columbia

For more information visit

www.dcwater.com/cleanrivers

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Interactive and downloadable maps and resources available at

www.capitolriverfront.org

Ted Skirbunt

Michael Stevens Executive Director (202) 465-7079 michael@capitolriverfront.org

Claire Schaefer Deputy Executive Director (202) 465-7087 claire@capitolriverfront.org

Director of Real Estate Research (202) 465-7091 ted@capitolriverfront.org

Kathleen Kruczlnicki Manager of Park Programming/Marketing (202) 465-7093 kathleen@capitolriverfront.org

Bonnie Wright Office and Program Manager (202) 465-7093 bonnie@capitolriverfront.org

Leon Johnson Operations Manager (202) 465-7093 leonjohnson@capitolriverfront.org

Alfred Corbin Park Facilities Manager (202) 465-7093 leonjohnson@capitolriverfront.org

April 17, 2012 - Capitol Riverfront · 2012. 4. 20. · be out FRONT •3,500+ = total estimated...

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