Capitol Riverfront Briefing Cresa Partners November 18, 2008
BID Boundaries I-395 Anacostia River 15 th St, SE S. Capitol St. Section of Buzzards Point
Office Space: 15.5 million sq. ft. Residential: 9,000 new units Retail: 1,000,000 sq. ft. Hospitality: 1,200 hotel rooms Parks: Four new parks and the Riverwalk Trail Mixed-use: Two projects Half-Street and The Yards Approximately 25.7 million SF of development upon build-out more than NoMA, SW Waterfront or Mt. Vernon Triangle neighborhoods $7.7 billion in private development at buildout
Estimated Status Total SF Office SF Retail SF Residential Units Hotel Rooms Total Cost Completed/Existing 9,370,161 6,225,967 127,280 1,830 204$2.1 billion Under Construction 1,487,332 654,000 54,000 767 0$497 million Planned 15,638,044 8,705,747 845,500 6,505 921$5.2 billion Source: Capitol Riverfront BID, October 2008
BRAC decision consolidates NAVSEA to Navy Yard 1995 7,500 new employees come to Navy Yard bringing total to 13,000 300 M, 80 M, & Maritime Plaza I are completed JBG Site Selected for DOT HQ DC receives HOPE VI grant for ACC 2001 GSA Selects Forest City to develop SEFC now The Yards DOT HQ begins construction AWC Created Baseball s return to DC officially announced Capitol Hill Tower/Courtyard Marriott begin construction 2004 1999 3 new office buildings & Navy campus expansion begin construction 2003 AWI Framework Plan Completed 2 more office buildings deliver Federal Gateway I & Maritime Plaza II
Land Acquisition Frenzy Rages Endless stadium lease negotiations 20 M Street begins construction 2005 AWC & NCRC folded into DMPED Navy Yard Metro Expansion DOT HQ Delivers + 6,500 employees 20 M Street delivers 55 M Street, 909 @ Capitol Yards & Velocity Condos begin construction Douglass Bridge Lowered Old Capper seniors home demolished Vast infrastructure improvements Capitol Riverfront BID created 2007 2006 ACC demolition begins Stadium Construction Begins Capitol Hill Tower/Courtyard Marriott Opens Capper Senior #1 Delivers PILOTs for roads, sewers & parks approved 100 M, Onyx On First, Jefferson & Axiom @ Capitol Yards all begin construction
Nationals Park Opens Jefferson & Axiom @ Capitol Yards, Onyx on First Deliver 960 Apts. 100 M Street Delivers 80,000 leased by Parsons 1015 Half Street begins construction Foundry Lofts at The Yards under construction Construction begins on Diamond Teague Park Capitol Quarter townhomes under construction 2008 1015 Half Street delivers Yards riverfront park delivers Canal Park delivers Yards Boilermaker retail opens Capitol Quarter townhomes continue to deliver 2010 2009 Foundry Lofts, 909 @ Capitol Yards, Velocity Condos, Capitol Quarter townhomes deliver 700 units 55 M Street Delivers 275,000 SF Diamond Teague Park Opens Boilermaker Retail Shops begin construction Artomatic & Other Events
Business Center Urban Neighborhood Baseball & Entertainment District Waterfront & Parks Destination
U.S. DOT Lockheed Martin Unity Health Care U.S. Navy & NAVSEA AT & T Earth Conservation Corps Living Classrooms William C. Smith & Company U.S. Coast Guard BAE Systems Parsons Engineering HNTB Architects/Engineers Alion Booz, Allen & Hamilton General Dynamics Northrop Grumman Delta Resources Cushman & Wakefield BearingPoint, Inc. Washington Nationals
Subway CVS Pharmacy Sizzling Express Capitol Hill Dry Cleaners Chicken Tortilla Starbucks Port Café Courtyard by Marriott Quiznos Chevy Chase Bank Joy Evans before/after school care Sun Trust Bank Key Academy Charter School Wachovia Bank Washington Academy School Kim s Tailor Eagle Academy School Market Deli Dogma Dog Care Five Guys Splash Car Wash Results Gym located at 3 rd & G, SE South Capitol Smile Center (dentist) Barracks Row
Neighborhood Dynamic 25,000+ residents within one mile of 3 rd & M Average HH Income - $86,399 1,830 Existing Residential Units in CR BID 700 more will deliver in the next 12 months Jefferson 80 units(18% of 448 total) leased since July Velocity Condos 25% sold 200 units 1BR = $350,000+ All first phase market rate EYA townhomes sold Courtyard Marriott averages 80% occupancy 200 rooms Daytime Population 35,000 Nationals Avg. 29,000 per game 2.3 million total Navy Yard Metro Avg. Weekday Ridership 14,041 Capitol South Avg. Weekday Ridership 17,379
The Capitol Riverfront s competitive advantages compared to other markets: Green neighborhood with four parks & river access Unobstructed views of the US Capitol Regional transportation accessibility Blue, Orange & Green metro lines I-395 & I-295 Metro bus lines & Circulator Bus (2Q 2009) Proposed water taxi service Retail & entertainment districts anchored by Nationals Park Proximity to US Capitol, Downtown & Reagan National Airport Lower lease rates typically $10 $15 psf less than Downtown Non Profit Tax Abatement Program (proposed)
Clean improve the quality of the public realm Safe improve perceptions of & realities of safety Friendly create a welcoming, easy to navigate & understandable environment Vibrant attract a range of businesses, retail, residents & tourists to the area
Clean Teams & Hospitality/Safety Ambassadors Marketing, Branding & PR Economic Development and Business Attraction (Office, Retail & Residential Attraction) Coordination with Decision Makers & Advocacy Community Building & Special Events (DOT Farmers Market, Lunchtime Concerts, Outdoor Movies, Fringe Festival)
Crime Statistics Fiscal Year 2007 vs. 2008 Crime Down 15% within the Capitol Riverfront BID Crime FY07 FY08 Difference % Change 07-08 Homicide 0 0 0 0% Sexual Assault 1 1 0 0% Robbery 19 16-3 -15% Assault 25 14-11 -44% Burglary 31 23-8 -25% Theft 56 78 22 39% Theft f/auto 107 67-40 -37% Stolen Auto 46 42-4 -8% Arson 0 0 0 0% Total 285 241-44 -15%
Development Districts Half Street Development North of M St (Capitol Yards, Velocity, Opus, DRI) Canal Park Capper Hope VI Barracks Row Nationals Park The Yards
Over $1 billion in public investment to date, including: DOT Building PILOT: $140 M The Yards PILOT: $88 M Arthur Capper PILOT: $50 M Capper HOPE VI: $55 M Nationals Ballpark: $611 M Water/Sewer: $15 M Lowering of Fredrick Douglass Bridge & the Five Streets Reconstruction Project
Monument s Half Street Forest City s The Yards 275,000 SF office 320 residential units 50,000 SF retail 200-room boutique hotel w/ bar Pedestrian gateway to the new ballpark 42 acre site fronting on the river 1.8M+ SF office 2,800+ residential units 400,000 SF retail - 100K in 09 10 Use of several historic Navy Yard building in projects 5 acre riverfront park (Summer 10)
46,500 SF of restaurant, retail & entertainment space Delivery in 2Q 2010
545,000 SF of office 80,000 SF of retail 275 Residential Units 325 Hotel Rooms Construction in 2011
6.2 MSF completed 0.65 MSF under construction 8.7 MSF planned U.S. DOT 100 M St, 08 55 M St, 09 1015 Half St, 10 1100 S. Capitol, 11 401 M St, 11 250 M St, 11 1111 New Jersey Ave, 11
1,830 units completed 767 units under construction 6,505+ units planned Capitol Hill Towers, 06 Capitol Yards, 08 & 09 Onyx on First, 08 The Yards, 09 Velocity, 09 Half Street, 10 EYA Capitol Quarter, 08-11
200 Room Courtyard by Marriott Hotel 200-room boutique hotel & 50,000 SF/7-10 retail locations The Yards Boilermaker shop with 46,500 SF or 5-6 retail locations, 2Q 10
Canal Park, 1Q, 2010 The Yards Riverfront Park, 2Q 2010 The Riverwalk Trail, Existing 2012 Diamond Teague, Spring 2009
Projected Timeline Projected
New construction built to LEED standards 30+ LEED certified buildings existing or planned Storm water management programs DOT largest green roof in DC (65,000 sq. ft.) First LEED Certified Ballpark The Yards, LEED Neighborhood Development pilot program Canal Park, plus river parks & riverwalk Walkable Urban Neighborhood Transit Oriented Development
DOT Farmers Market, every Tuesday from 10:00 a.m. 2:00 p.m. Lunchtime concert series (May August) Outdoor film series (June August), Wednesdays,8:00 pm Community clean-up days Community planting days Programming of parks
New Community on the River Proximity Accessibility Lower Lease Rates Ballpark, Restaurants, Retail & Entertainment Barracks Row Restaurants & Bars (e-cruzer shuttle) Four New Parks & Riverwalk Capitol Riverfront BID Community Events Live Near Work Walkable Urbanity
190,000 sq. ft. Class A LEED Gold Certified Across from Navy Yard Metro Capitol Views Contact Brian Raher Brian.Raher@cushwake.com 202.739.0375 Brian McVay Brian.McVay@cushwake.com 703.847.2776
225,000 SF Class A 80,000 Leased by Parsons SunTrust Bank 8,500 sq. ft. restaurant River views Delivers 4Q 2008 Contact Kevin Howard CB Richard Ellis 202.585.5776 Doug Mueller CB Richard Ellis 202.585.5561
275,000 SF Class A Above Navy Yard Metro Capitol & Ballpark Views 15,000 sq. ft. of retail LEED Silver Delivering 2Q 2009 Contact Doug Olson Monument Realty 202.777.2004 dolson@monumentrealty.com Molly Davis 202.777.2008 mdavis@monumentrealty.com
379,000 SF Class A Capitol Views 21,000 sq. ft. of retail LEED Gold 2-story lobby marble & wood Delivering in 2Q 2010 Contact Phillip Thomas Cassidy & Pinkard 202.463.1119 Mark Sullivan Cassidy & Pinkard 202.463.1126
795,000 SF Class A Capitol Views 30,000 sq. ft. of retail LEED Gold 10,000 sq. ft. public plaza Phase I delivering as early as 2011 Contact Tom Hilley Transwestern 202.775.7008 tom.hilley@transwestern.net
376,000 SF Class A Riverfront views @ The Yards 56,000 sq. ft. grocery store LEED certified Estimated 2011 delivery Contact Ernie Jarvis CB Richard Ellis 202.585.5583 ernest.jarvis@cbre.com
500,000 SF Class A Capitol Views 20,500 SF Retail LEED certified Estimated 2011 delivery Contact Ernie Jarvis CB Richard Ellis 202.585.5583 ernest.jarvis@cbre.com
213,000 SF Class A Capitol Views Office Condo Potential LEED certified 12,000 SF of retail Estimated 2011 delivery Contact Terry Amling Jones Lang LaSalle 202.719.5584 terrance.amling@am.jll.com
203,000 SF Class A Capitol Views & River Views LEED certified 8,000 SF of retail Estimated 2011 delivery Contact Bert Donohoe Donohoe 202.333.0880 bertd@donohoe.com
350,000 SF Class A Capitol Views LEED certified Estimated 2011 delivery Contact Scott Frankel CB Richard Ellis 202.585.5652 scott.frankel@cbre.com
2.7 million SF development Capitol & river views 300 ft. setbacks LEED certified Delivery TBD Contact Adam Gooch Akridge 202.624.8602 agooch@akridge.com
Michael Stevens Executive Director 202-465-7079 michaelstevens@capitolriverfront.org Claire Schaefer Deputy Executive Director 202-465-7087 claireschaefer@capitolriverfront.org Ted Skirbunt Director of Research & Information Systems 202-465-7091 tedskirbunt@capitolriverfront.org Kathleen Kruczlnicki Office Manager/Events Coordinator 202-465-7093 kkruczlnicki@capitolriverfront.org