CAPITOL RIVERFRONT ULI Baltimore & Washington Regional TOD Product Council November 13, 2014
CAPITOL RIVERFRONT NEIGHBORHOOD 500 ACRES 37M SF at Build-out 1 BALLPARK 10 ACRES OF PARKS 24 RESTAURANTS 4,200 RESIDENTS 33,000 EMPLOYEES 2.8M VISITORS/YEAR be out FRONT
CAPITOL RIVERFRONT & TRANSIT-ORIENTED DEVELOPMENT Largest waterfront redevelopment in country Multi-modally connected World class parks Public-private partnerships Mixed-income neighborhood 84 walk score = very walkable
CAPITOL RIVERFRONT & TRANSIT-ORIENTED DEVELOPMENT PUBLIC INVESTMENT GROWTH PARKS
PUBLIC INVESTMENT
STARTING WITH A VISION 2003 AWI FRAMEWORK PLAN be out FRONT
TIMELINE OF GROWTH 1995-2011 BRAC (1995) HOPE VI Cappers Grant & U.S. DOT Site (2001) Anacostia Waterfront Initiative Framework Plan (2003) Forest City selected to redevelop 42 federal acres (2004) Baseball returns to DC & new stadium site selected (2005) DOT HQ opens adding 6,750 employees (2007) Nationals Park opens (2008) Seven new residential projects (2,300 units) deliver (2008 2011) Harris Teeter signs in The Yards (2011) be out FRONT
PUBLIC INVESTMENT AS A CATALYST OVER $1.1B IN TOTAL $42 M DOT PILOT (2007) $48 M Southeast Federal Center PILOT (2006) $55 M Capper Carrollsburg PILOT (2006) $35 M Capper HOPE VI (2001) $535 M Nationals Ballpark Revenue Fund (2006) $7 M Water/Sewer (2007) $27 M Lowering of Fredrick Douglass Bridge & the Five Streets Reconstruction Project (2007) $340 M 11 th Street Bridge (2013) $11 M Capitol Hill Towers TIFF (2007) $16 M Canal Park Grant & NMTC (2009) be out FRONT
GROWTH
CAPITOL RIVERFRONT IS GROWING 4,200 RESIDENTS TODAY, 5,200+ BY 2016 be out FRONT
NEW CONSTRUCTION WILL DOUBLE RESIDENTIAL STOCK BY 2017 EXISTING, PIPELINE, AND PLANNED RESIDENTIAL UNITS 100% 90% 80% 70% 5,813 units Planned 60% 50% 40% 30% 20% 10% 0% 1,294 units 1,898 units 2,976 units Units Active Pipeline (2014/2015 Start) Under Construction Existing 2014/2015 PIPELINE 1,294 units RiverFront (305 apartment units) 82 I St SE (234 apartment units) Square 701 (325 apartment units) 1244 S. Capitol Street (300 apartment units) Yards Condominiums (130 units) UNDER CONSTRUCTION: 1,898 units Square 882, 195 units Urban Atlantic Arris, 327 units Forest City 800 NJ, 336 units WC Smith Park Chelsea, 432 units WC Smith 1111 New Jersey, 324 units Donohoe
CAPITOL RIVERFRONT IS AN OFFICE SUBMARKET 32,000 daytime employment 13 privately-owned office buildings 7.4 million SF of office space 11.7% 2Q 14 private market vacancy rate $40-$45 PSF 2Q 14 avg. Class A full service asking rental rate* 50% built-out * Source: CoStar 8/28/14, Cushman Wakefield 2Q 2014, Studley Savills 2Q 2014
24 DINING OPTIONS IN CAPITOL RIVERFRONT AND MORE COMING SOON! Fast Casual Options Sit-down dining options Coming Soon The Big Stick Due South Willie s Brew & Que The Brig Navy Yard Oyster Co. Scarlet Oak
ADDING CONVENIENCE RETAIL OPEN NOW OPENING SOON
RECREATION A GROWING SPORTS DESTINATION Nationals Park Proposed DC United Stadium
EDUCATION VAN NESS ELEMENTARY RE-OPENING be out FRONT
CAPITOL RIVERFRONT IS ONE-THIRD BUILT-OUT Office 7.4M SF built Retail 210,125 SF built Residential 2,976 units built Hotel 204 rooms built 50% 22% 24% 16% Existing/Completed Planned Existing/Completed Planned Existing/Completed Planned Existing/Completed Planned TOTAL: 12.0M SF built 36.9M SF planned Existing/Completed Planned 67% 33%
CAPITOL RIVERFRONT IS GETTING CLOSER TO 50% BUILD-OUT Existing & Pipeline Development as a Share of All Planned New Development in the Capitol Riverfront 47% 50% 50% 51% 58% 24% 22% 16% Residential Retail Office Hotel Source: Capitol Riverfront BID Notes: New residential development includes: Twelve12 (218 units); Park Chelsea (432 units); Parc Riverside (287 units); Parcel N (327 units); 800 New Jersey (336 units); Gallery at Capitol Riverfront (324 units); Square 701 Apartments (325 units); Lofts at Capitol Quarter (195 units); RiverFront (305 units) New retail development includes: Twelve12 (88,000 SF); Park Chelsea retail (1,500 SF); Parcel N retail (21,000 SF); Whole Foods (36,000 SF); 1111 New Jersey retail (11,000 SF); ICON Theater (70,000 SF); Square 701 Retail (43,000 SF) New office development includes: Square 701 Skanska Office (224,000 SF) 2013 2017 (Projected) New hotel development includes: Hampton Inn (165 rooms), Square 701 hotel (170 rooms); and 50 M (190 rooms)
PARKS
be out FRONT YARDS PARK
YARDS PARK WINNER OF THE 2013 ULI URBAN OPEN SPACE AWARD
YARDS PARK
YARDS PARK
YARDS PARK
YARDS PARK NOON YEAR S EVE
YARDS PARK VIDA FITNESS
YARDS PARK FRIDAY NIGHT CONCERTS
YARDS PARK FRIDAY NIGHT CONCERTS
YARDS PARK JAZZ FEST 2014
YARDS PARK NUIT EN BLANC
YARDS PARK TOUR DE FAT
be out FRONT CANAL PARK
CANAL PARK
CANAL PARK
CANAL PARK
ANACOSTIA RIVERWALK TRAIL
CAPITOL RIVERFRONT www.capitolriverfront.org