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April 17, 2012
April 17, 2012
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BID Boundaries
• I-395
• Anacostia River
• 15th St, SE
• S. Capitol St.
• Section of Buzzards
Point
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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
OPEN
The Riverwalk Trail
OPEN
Diamond Teague Park & Piers
OPEN
VA Ave. Park
OPEN
Riverwalk Connection
OPEN
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Co
urt
ya
rd
Ma
rrio
tt
M S
treet
DOT HQ
(6,750 Employees) Capitol Hill
Tower
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
I S
tree
t
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
www.capitolriverfront.org
Ted Skirbunt
Michael Stevens Executive Director (202) 465-7079 [email protected]
Claire Schaefer Deputy Executive Director (202) 465-7087 [email protected]
Director of Real Estate Research (202) 465-7091 [email protected]
Kathleen Kruczlnicki Manager of Park Programming/Marketing (202) 465-7093 [email protected]
Bonnie Wright Office and Program Manager (202) 465-7093 [email protected]
Leon Johnson Operations Manager (202) 465-7093 [email protected]
Alfred Corbin Park Facilities Manager (202) 465-7093 [email protected]
