The 14th & U Street Corridor

Transcription

1 The 14th & U Street Corridor

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3 table of contents THE WASHINGTON DC MARKET Market Profile: MidCity Demographic + Psychodemographic Profile The 14th & U Corridor Site Plans & elevations

4 Washington, DC is the hottest retail market in the world; it s no longer just a place to see monuments and pick up a souvenir it s a place to work, shop, entertain and live. The District s close-in neighborhoods are vibrant and Alive, retailers are exceeding their expectations and national averages, and restaurants have lines out the doors. the washington dc market The surface is just being scratched.

5 GEORGIA AVE NW park view cathedral heights mount pleasant WOODLEY PARK COLUMBIA HEIGHTS BROOKLAND glover park MASSACHUSETTS AVE NW CONNECTICUT AVE NW ADAMS MORGAN 16TH ST NW 14TH ST NW U ST NW HOWARD UNIVERSITY BLOOMINGDALE MIdCITY / 14th & U STREET CORRIDOR RHODE ISLAND AVE NW ECKINGTON NEW YORK AVE NE GEORGETOWN dc market overview Washington DC is a city of unique, vibrant neighborhoods connected by a comprehensive and multi-modal mass transit system. Thanks to strong infrastructure and major employment generators, MidCity, along with the District as a whole, is experiencing extensive growth in the residential, commercial, and entertainment sectors. The nation s capital with MidCity as one of its most vibrant neighborhoods is widely recognized as one of the most progressive cultural and economic powerhouses in the nation. DUPONT CIRCLE K ST NW national mall CONVENTION CENTER EAST END SHAW MOUNT VERNON TRIANGLE VERIZON CENTER NORTH CAPITOL ST NE NOMA UNION STATION union market FLORIDA AVE NE H STREET CORRIDOR N the dc market map

6 GEORGIA AVE NW demographics & psychodemographics 1 MILE The demographic profile in the area is extremely strong, as is the growth rate, both past and projected. With continued development in DC expected to remain strong especially in the MidCity corridor these numbers will continue to move in a positive direction. Additionally, as more development moves into the area, the profile of the typical resident is changing. With a solid core of mature professionals, young urbanites with more expendable income to shop and dine out are giving the area a more youthful, hip vibe. CONNECTICUT AVE NW MASSACHUSETTS AVE NW 1/2 MILE NEW HAMPSHIRE AVE NW 16TH ST NW 14TH ST NW U ST NW Elysium fourteen RHODE ISLAND AVE NW HALF MILE ONE MILE pula on (20 POPULATION ,189 96,386 % GROWTH % 0.86% % GROWTH % 1.39% % PROJECTED GROWTH % 1.10% $ AVG HH INCOME 2012 $93,826 $87,663 MEDIAN HOME VALUE 2012 $489,585 $447,145 DAYTIME opula on POPULATION ( , ,539 the mid-city market METRO RENTERS 11,577 HOUSEHOLDS* K ST NW Young, educated singles, residents of Metro Renters neighborhoods are just beginning their professional careers. Because they rent, home and hearth products are low priority, although they will buy new furniture from stores such as Crate & Barrel or Pier One Imports. For fun they go dancing, visit museums, attend concerts, eat out and travel. NEW YORK AVE NW N TRENDSETTERS 1,943 HOUSEHOLDS* On the cutting edge of urban style, Trendsetters residents are young, diverse, and mobile. More than half the households are singles who live alone or share the rent with a roommate. These residents are educated professionals who work in substantive jobs. They are never far from their electronic gadgets. They go online frequently to shop, make reservations, and watch videos. WHILE DEMOGRAPHICS ARE FACTS AND FIGURES ABOUT INCOME, EDUCATION, POPULATION AND THE LIKE, PSYCHODEMOGRAPHICS INDICATE THE TRUE NATURE OF HOW A POPULATION LIVES. LAPTOPS AND LATTES 546 HOUSEHOLDS* With no home ownership or child-rearing responsibilities, residents of Laptops and Lattes neighborhoods enjoy single life in the big city. They are affluent, highly educated, and wellconnected. They go out to eat frequently and take adult education classes. They shop at Target for essentials and luxuries at high-end department and home stores. *IN A HALF MILE

7 mid-city overview MidCity, centered around the intersection of 14th & U Streets, NW, is the most bustling area of Washington, DC. The experience here is all about energy and vitality. Ever since Whole Foods opened on P Street in 2000, the density and demographics of the neighborhood have been in rapid transition. Since 2001, more than 3,700 new and refurbished lofts and condos and 150 new retail businesses have opened their doors. Prominent restaurants (e.g., Marvin, Busboys & Poets, Estadio, Posto, and Cork) and a range of entertainment venues (e.g., the Lincoln, Source, and Studio Theatres, Bohemian Caverns, and The Black Cat) keep the area buzzing all week long. The neighborhood also has a strong design current running through it. Room & Board, Home Rule, Mitchell Gold & Bob Williams, and Timothy Paul all of which are located along 14 th Street have made MidCity a home decor destination. Over the past decade, 14th Street has evolved into one of the MOST HIGHLY SOUGHT after retail destinations in the District. The corridor embodies an eclectic mix of the past, present and future, with its RICH HISTORY & UNIQUE ARCHITECTURE laying the foundation for trendsetting retailers & restaurateurs. The opening of VIBRANT & ENERGETIC RESTAURANTS like Masa 14 (Richard Sandoval) and Estadio (Mark Kuller), along with national chain Room and Board bringing its highend urban furnishings to the area, validates the continual growth of the 14th Street corridor. the corridor

8 A key recent & future developments in corridor the corridor M O P 68 Q R 72 S U L 101 B J C E G 7 F Y X 108 Z 109 N T V W H I 36 D K LOGAN CIRCLE elysium fourteen 31 u street 7,048 AWR 1/4 MILE 30 N A B C D E F G Palace 5ive / Federal Pica Taco Piola Ride DC MARA Home Crossfit Praxis Work District Kapnos / G Sweetgreen Fast Gourmet Smucker Farms CVS Yes! Organic Market Eatonville Tacos El Chilango Izakaya Seki Busboys & Poets The Gibson Marvin Capitol View th Street NW 225 Apartments 16,000 SF Retail Solea 14th & Florida NW 59 Condo Units 4,700 SF Retail View th Street NW 185 Apartment Units 31,000 SF Retail CityScape on Belmont 1330 Belmont Street NW 28 Condo Units Manhatten Laundry th Street NW 30 Apartment Units 2,792 SF Retail Lumen th Street NW 2,365 SF Retail Delivering Early 2015 Jefferson at 14W 229 Apartment Units 12,000 SF Retail Key Retail in Corridor Den Thieves Lost Society Tropicalia Alero Lincoln Theatre Ben s Chili Bowl 7-11 Subway U Street Music Hall Vinoteca Menchie s Alphonse Ulah Bistro &Pizza Starbucks Rite Aid Fainting Goat Black & Orange Matchbox DC Noodles The Wydown H I J K L M N Union Row 14th & V Street NW 286 Condo Units 26,000 SF Retail Langston Lofts 1390 V Street NW 80 Condos The Ellington 1301 U Street NW 190 Apartments JBG Redevelopment, 13th & U 26,590 SF Retail; Apartments Delivering Spring U Street NW Indian Cultural Center 12,000 SF The Louis 14th & U Street NW 267 Apartment Units 30,000 SF Retail The Harper th Street NW 144 Apartment Units 6,150 SF Retail Tico Trader Joe s Taylor Gourmet Policy Taqueria Nacional Bake House Lupo Verde Room & Board Amsterdam Falafelshop Ted s Bulletin Redeem Lou Lou Salt & Sundry Doi Moi Compass Rose Cafe Saint-Ex Source Bar Pilar Immortal Beloved Masa Muleh El Centro D. F. Black Cat Home Rule Cork Market & Tasting Room Garden District Ace Hardware West Elm Batch 13 O P Q R S T U Peregrine Espresso Cork Wine Bar Red Light M Cafe BodySmith Miss Pixie s Barcelona Shinola Le Diplomate Etto Drafting Table The District 1407 S Street NW 125 Apartment Units 18,000 SF Retail TBD 14th & S Street NW TBD th Street NW 25,000 SF Retail 11,000 SF Office Northern Exchange 1401 R Street NW 36 Condo Units 1,300 SF Retail The Aston 14th & R Street NW 31 Condo Units 3,000 SF Retail Central Union Mission 14th & R Street NW 51 Condo Units 7,000 SF Retail th Street NW 26,000 SF Retail Studio Theatre Pearl Dive Blackjack Ghibellina Rice Estadio Chipotle Zengo Cycle PNC Bank Starbucks Logan Tavern Stoney s Lounge Number Nine Commissary DC Wells Fargo Lululemon Athletica Sweetgreen TD Bank VIDA Fitness Tortilla Coast V W X Y Z Whole Foods CVS Dolcezza Black Whiskey Urban Essentials Churchkey/ Birch & Barley Teakwood Restaurant The Pig B Too Logan 14 Buffalo Exchange th Street NW Seven Stories Ground Floor Retail Residential 1525 Fourteen th Street NW 36,000 SF Office 20,000 SF Retail 14th & Rhode Island th Street NW 30 Residential Units 9,834 SF Retail 4,575 SF Office Delivery 2016 The Bentley th Street NW 55 Apartment Units 4,135 SF Retail Delivery 2015 The Lionel th Street NW 6 Condo Units 5,100 SF Retail

9 1/4 MILE u street 7,048 AWR elysium fourteen N the corridor

10 u street nw 14th street nw public alley N total retail: 12,712 sf second floor wallach pl nw ground floor 1,383 sf 10 5 ceiling heights 14th street nw 46 storefront 4,916 sf 14 ceiling heights lower level 4,462 sf 12 ceiling heights the site storefront 1,384 sf 13 ceiling heights 567 sf 9 6 ceiling heights 51 6 storefront storefront

11 14th street nw wallach pl nw 14th street nw wallach pl nw wallach pl nw the site

12 14th street nw wallach pl nw elevations 14th street nw wallach pl nw

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14 kelly silverman kelley milloy