Support

“A New Economic Engine Emerges from Georgia Ave/Petworth to Navy Yard/Capitol Riverfront”

From the Capitol Riverfront BID:

Over the past decade, increasingly affluent young professionals and their employers have chosen to move into communities around Metro’s Green Line Corridor stations, a shift that remains below the radar of many real estate and economic observers, a new study released today reveals. The study, Greenprint of Growth: A Decade of Population Growth, Job Creation and Investment Along DC’s Green Line Corridor, sheds new light on the extent of changes taking place along the Green Line Corridor and their role in the District’s and regional economy.

“This study debunks conventional thinking about the neighborhoods along the Green Line. We knew anecdotally that change has been occurring along the corridor but we didn’t have the hard data to underscore what we were seeing until today. The results are dramatic, and demonstrate that the Green Line Corridor, and neighborhoods along that corridor such as the Capitol Riverfront, have caught up to and in some cases surpassed the traditional development corridors of NW DC along the Red Line and Northern Virginia’s Rosslyn-Ballston Corridor. The Green Line has become a desirable location and an economic engine for the District and the region creating a new spine of development that connects the city,” said Michael Stevens, Executive Director of The Capital Riverfront Business Improvement District, which commissioned the study.

The study was executed by RCLCO, a widely respected real estate advisory firm. Among the study’s findings:

The Green Line Corridor communities captured more young and affluent households in the 2000’s than the NW DC Red Line or the Rosslyn-Ballston Corridor.
Compared to the 1990’s, the Green Line Corridor captured nearly ten times as many young households in the 2000s.
The Green Line Corridor captured 32 percent—nearly one third—of all growth in 18-to-34-year-old households in the District during the last decade.
The study reveals new household incomes of new residents along the Green Line Corridor are as much as 50 percent higher than estimated by conventional data sources.
Stations along the Green Line Corridor are a magnet for high-paying private sector jobs. in the region, and are outcompeting areas in Northwest D.C. and Arlington County.

· Green Line Corridor station neighborhoods are the future: new development projected within a quarter-mile of the Green Line Corridor study area could generate $2.32 billion in additional tax revenue and 19,000 permanent jobs over the next 20 years.

The study affirms that the Green Line Corridor is out in front of the District’s overall growth curve and can continue this growth into the next decade and beyond. The connection to the Green Line Corridor and its aforementioned competitive advantages, combined with its ample development capacity, position the Capitol Riverfront/Navy Yard as a “receiving zone” for this development energy. Specifically, the analysis conducted suggests that the Capitol Riverfront—given its Green Line access at the Navy Yard Station and its significant amount of development capacity—is among the most competitive locations in the region for households, companies, and retailers.

“We are witnessing the re-urbanizing of America. Younger households – those between 18 and 34 years old – are an important driver of this trend. In the D.C. region specifically, especially during the last decade, a large proportion of affluent, young professionals—along with their employers—moved into neighborhoods not only in urban neighborhoods or in the District itself, but specifically proximate to Green Line corridor. It’s a trend that can be expected to become even stronger in the future. The findings of this study suggest that the Capitol Riverfront and other Green Line Corridor neighborhoods have established themselves as economic engines over the past decade and are ripe for future investment,” said Shyam Kannan, a principal at RCLCO (Robert Charles Lesser & Co., LLC), who conducted the study.

Read the executive summary below:

GREEN LINE STUDY FINAL EXEC SUMMARY 1-11-12

Recent Stories

From an email: “We have an upcoming free yoga weekend event happening at Reunion 4/6-4/7: Join Reunion Hot Yoga in Park View, DC for a free weekend of yoga Saturday…

Sweet City Ride

Thanks to Mandi for sending: “1930 Oldsmobile? That’s just the best guess of someone who knows nothing about cars but faithfully attended the Iola Car Show with her dad every…

Photo by Julian Ortiz Ed. Note: If this was you, please email [email protected] so I can put you in touch with OP. “Dear PoPville, Man in Ovi jersey headed towards…

“Taylor with her duck at a dog park in Old Town.” If you have any animal/pet photos you’d like to share please send an email to princeofpetworth(at)gmail(dot)com with ‘Animal Fix’…

Calling all bookworms, thrill-seekers, supporters of the arts, and ping-pongers at all skill levels! Sign up for Paddlestar Galactica, the ping-pong tournament supporting 826DC’s youth writing programs.

826DC is a local nonprofit that offers free writing programs, homework help, and publishing opportunities for DC students ages 6-18, in our Columbia Heights writing center and in learning spaces across the city.

Paddlestar Galactica helps keep writing education 100% free and accessible for all of our students! It’s also extremely fun.

This year’s games will be Saturday, April 27th, 1 PM to 4 PM at SPIN DC. It’ll be a chaotic afternoon of ping-pong, costumes, terrible Battlestar Galactica puns, and good cheer. We’d love to have you join us!

Read More

Submit your own Announcement here.

Well-Paid Maids, the only certified living-wage cleaning service in the DMV, has added a new service to its online booking menu: office and building cleanings.

This includes offices, building lobbies, shared amenity spaces and more throughout D.C., Arlington, Alexandria and more.

Unlike so many other cleaning services, you can feel good booking Well-Paid Maids to clean your office or building. Cleaners get paid a starting wage of $24 an hour. Plus, all employees are offered health, dental, vision and life insurance; 24 paid days off per year; 100% employer-paid commuting costs; and more.

Read More

Submit your own Announcement here.

Vakili Band at Pie Shop!

Three band rock n rolll lineup at DC’s Pie Shop! Vakili Band with “if you know, you know” DC rockers, Lot 18, and the many minds and songs of artist Kind of Christine.

“If you love Vakili Band like we

×

Subscribe to our mailing list