DC Development Report: 2014/2015 Edition

Transcription

Development
Report 2014/2015 edition
Burnham Place at Union Station / Akridge
BOARD MEMBERS
The Washington, DC Economic Partnership
would like to acknowledge our corporate
sponsors whose continued financial support
has made the DC Development Report:
2014/2015 Edition possible.
Jeff Miller / Co-Chair
Deputy Mayor
Office of Deputy Mayor for Planning & Economic
Development
Richard Lake/Co-Chair
Roadside Development
Olivia Shay-Byrne/Vice Chair
Reed Smith, LLP
Doug Loescher/ DMPED Representative
Office of Deputy Mayor for Planning & Economic
Development
PUBLIC SECTOR PARTNERS
Jennifer Eugene/Secretary
Washington Gas
Joseph L. Askew, Jr., Esq.
Verizon
Steven C. Boyle
EDENS
Vincent C. Gray, Mayor
Jean-Luc Brami
Gelberg Signs
Kenneth Brewer
H St. Community Development Corporation
Sean Cahill
Property Group Partners
Donna M. Cooper
Pepco
PRIVATE SECTOR PARTNERS
Daniel Duke
Bohler Engineering
Angela Franco
Greater Washington Hispanic Chamber of Commerce
Brett Greene
American Management Corporation
Michael J. Haddad
Capital One Bank
Tonya Hill
Comcast Business
Carl Hairston
M&T Bank
Stan Jackson
Anacostia Economic Development Corporation
Norman Jemal
Douglas Development Corporation
Greg Leisch
Delta Associates
Chester McPherson
DC Department of Insurance, Securities, & Banking
Rafael Muniz
The JBG Companies
Lisa Mallory
DC Building Industry Association
Thomas Nida
United Bank
Chris Niehaus
Microsoft
Scott Nordheimer
Urban Atlantic/A&R Development Corporation
Greg O’Dell
Events DC
Marc Ratner
Streetsense
Eric E. Richardson
DC Office of Cable Television
Rabbiah “Robbie” Sabbakhan
DC Department of Consumer & Regulatory Affairs
Tara Scanlon
Holland & Knight
Michael Stevens
Capitol Riverfront BID
Robert Summers
DC Department of Small & Local Business
Development
Mitchell Weintraub
Cordia Partners, LLC
Development
Report 2014/2015 edition
Image courtesy of Akridge
Burnham Place at Union Station / Akridge
a publication of the
in partnership with
ABOUT
THE DC DEVELOPMENT REPORT
The DC Development Report is a summary of the major development and construction projects in the District of
Columbia. The Washington, DC Economic Partnership (WDCEP) began tracking development activity in 2001 with
the hope of creating a comprehensive database that would answer a number of questions in regards to the construction
activity in the city. The Report summarizes our entire database of projects, highlights major projects and what lies
ahead for development in the District of Columbia.
This update of the DC Development Report is an overview of development activity and of the expansion occurring in
DC. As a resource book, it is a compilation of nearly 14 years of data collection and research that provides an overview
of an ever-changing development and construction cycle.
The WDCEP performs an annual “development census” in the month of September and receives contributions from
more than 100 developers, architects, contractors and economic development organizations. This outreach results in
updates to more than 350 projects. While our database of projects is constantly being updated, for the purposes of this
publication all data reflects project status, design and information as of September 2014.
In 2014 the WDCEP partnered with CBRE to provide an economic overview of DC and in-depth analysis of the office,
retail and residential markets. Although every attempt was made to ensure the quality of the information contained in
this document, the WDCEP and CBRE makes no warranty or guarantee as to its accuracy, completeness or usefulness
for any given purpose.
For more information please see our Methodology section.
© Washington, DC Economic Partnership, 2014
iv
© 2014 Washington, DC Economic Partnership
TABLE OF
CONTENTS
1. DEVELOPMENT OVERVIEW
6Economic Overview
12 Summary of Projects
14 Most Active Developers, Architects & Contractors
2. DEVELOPMENT BY SECTOR
19 Office
31 Retail
45 Residential
59 Hospitality
69 Education
3.APPENDIX
82 Methodology
85 Acknowledgements
The JBG Companies and JBGR Retail
proudly support the
Washington, DC Economic Partnership
JBG.COM
JBGR.COM
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investment sales and property
management, we have the insight
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DEVELOPMENT
OVERVIEW
Economic Overview / Summary of Projects / Most Active
DC Development Report • 2014/2015 Edition
5
ECONOMIC
OVERVIEW
ECONOMIC OVERVIEW OF THE DISTRICT OF COLUMBIA
While the District of Columbia (“DC”) has a total population of 646,449, its population increases to more than one million each day due
to the influx of employees coming predominantly from Northern Virginia and Suburban Maryland.1 In fact, the DC metropolitan area
maintains the second highest share of public transit commuters in the country, second only to New York City. DC saw total employment
rise 11.7% between September 2004 and September 2014 with the addition of 79,400 jobs. Though the unemployment rate remains
elevated at 7.8% as of September 2014, this is a significant decline from the 10.5% rate recorded in September 2011. The table below
presents the historical change and growth in employment levels for major industry groups in DC for the past five and ten years.
September 2004-2014
Change (000s)
Change (%)
September 2009-2014
Change (000s)
Change (%)
Mining, Logging, and Construction
2.1
17.1%
3.2
28.6%
Manufacturing
-1.7
-68.0%
-0.4
-33.3%
Wholesale Trade
0.3
6.5%
0.4
8.9%
Retail Trade
3.9
22.3%
3.8
21.6%
Transportation and Utilities
-1.3
-23.6%
-0.2
-4.5%
Information
-6.8
-28.3%
-1.4
-7.5%
Financial Activities
-1.6
-5.2%
2.0
7.4%
Professional and Business Services
12.7
8.8%
12.4
8.5%
Education and Health Services
36.0
39.1%
24.7
23.9%
Leisure and Hospitality
18.9
36.6%
11.9
20.3%
Other Services
9.8
16.5%
5.0
7.8%
Federal Government
8.7
4.5%
-0.7
-0.3%
Source: U.S. Bureau of Labor Statistics
Office Employment
Office-using employment in DC continues struggling to
regain its footing as a result of the substantial cuts in federal
government employment. Between September 2013 and
September 2014, office-using employment experienced a net loss
of 700 jobs. Although the Professional and Business Services
Information
Financial Activities
Professional and Business Services
Other Services
sector, typically regarded as DC’s engine of employment growth,
observed a year-over-year increase of 2,800 jobs, this was offset
by the loss of 3,600 federal government jobs. Meanwhile, the
Financial Activities, Information, and Other Services sectors
added a combined 200 jobs.
September 2013
September 2014
Change (000s)
Change (%)
17.1
17.2
0.1
0.6%
0.3%
28.8
28.9
0.1
155.0
157.8
2.8
1.8%
69.2
69.1
-0.1
-0.1%
Federal Government
204.5
200.9
-3.6
-1.8%
TOTAL OFFICE EMPLOYMENT
474.6
473.9
-0.7
-0.1%
Source: U.S. Bureau of Labor Statistics
1. U.S. Census
6
Economic Overview
POPULATION GROWTH
Young Professionals
Young professional aged 25 to 44 years continue to constitute a growing share of the population in DC. According to the U.S. Census
Bureau, between 2004 and 2013, the share of the population within that age group grew by 3.6 percentage points, and now represents
36.5% of the overall population.
Birth Rate
The birth rate in DC has been on a downward trajectory over the past five years, but has remained elevated relative to the U.S. In the
past ten years, DC saw the highest birth rate level in 2008, when there were 15.4 births per 1,000 population. The latest available data
show this number has declined to 14.9 births per 1,000 in 2012.
Birth Rate
(# of Births per 1,000)
U.S. Birth Rate
Total Population (Ths.)
Age 25 to 44
Age 25 to 44, (%)
14.3
14.5
14.7
15.1
15.4
15.1
15.2
15.0
14.9
n/a
14.0
14.0
14.2
14.3
13.9
13.5
13.0
12.7
12.6
n/a
567.8
567.1
570.7
574.4
580.2
592.2
605.1
619.6
633.4
646.5
186.6
185.7
188.0
190.2
193.0
199.1
208.0
218.5
227.7
235.8
32.9
32.7
32.9
33.1
33.3
33.6
34.4
35.3
36.0
36.5
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Sources: U.S. Census Bureau, Moody’s Analytics
EMPLOYMENT TRENDS
Public vs. Private Sector
DC’s public and private sectors have seen divergent employment trends during the past several years. When the U.S. economy was
rocked by the financial crisis, the private sector saw declining job growth. Since the recession, however, the private sector has made
great strides to reach pre-recession levels of employment, growing 13.5% between September 2009 and September 2014. Meanwhile,
public sector employment experienced large job gains in the aftermath of the recession due to the federal government’s stimulus plan.
Since 2009, however, public sector employment has dropped about 0.1% per annum, or 0.5% over the span of five years.
Legal Services
Employment in the Legal Services sector in DC reached its peak in July 2008 with almost 38,000 employees, though it quickly
plummeted thereafter with the onset of the Great Recession. Since 2012, employment has leveled and hovered around the 30,000
employee mark. A subsector of the Professional and Business Services sector, Legal Services has observed dwindling employment with
a 14.7% drop over the ten-year period from September 2004 to September 2014. Most of this employment decline is concentrated in
the latter five years during which the average annual rate of decline measured 2.4%. Law firms are among the top tenants in DC’s 125
million-sq.-ft. office market, occupying approximately one-third of the entire market.
7
ECONOMIC
OVERVIEW
Educational Services
The Educational Services sector has observed a significant boost in employment over the past ten- and five-year periods. Between
September 2004 and September 2014, employment rose 54.7% with the addition of almost 22,000 jobs. Most of this employment growth
has been concentrated in the past five years, during which 17,700 people were added to the sector’s payroll. Although not an occupier
of office space, the Education sector is expected to continue expanding with the boom in “eds and meds,” particularly in DC and the
surrounding metropolitan area.
Health Care and Social Assistance
The Health Care and Social Assistance sector has experienced strong employment growth of 2.4% per annum between September 2009
and September 2014. However, the addition of 14,000 jobs between September 2004 and September 2014 has not led to a direct increase
in demand in the office market as the sector is not regarded as office-using.
September 2004-2014
September 2009-2014
Change (000s)
Change (%)
AAGR (%)
Change (000s)
Change (%)
AAGR (%)
Total Private
72.3
16.2%
1.6%
61.4
13.5%
2.7%
Total Public
7.1
3.1%
0.3%
-1.2
-0.5%
-0.1%
Legal Services
-5.0
-14.7%
-1.5%
-3.9
-11.9%
-2.4%
Educational Services
22.0
54.7%
5.5%
17.7
39.8%
8.0%
Health Care and Social Assistance
14.0
27.0%
2.7%
7.0
11.9%
2.4%
Source: U.S. Bureau of Labor Statistics (AAGR=average annual growth rate)
INVESTMENT SALES
Foreign Purchasers
Foreign office real estate investment in DC has seen a steady increase over the past two years. The following chart represents foreign
capital investment in DC over the past five years. Over 50% of foreign investment purchases were concentrated in the last two of five
years. The capital has stemmed from a diverse group of investors encompassing Asia, the Middle East, and Europe. Israel has consistently
been a leader with regard to the total number of properties purchased.
The year-to-date numbers through Q3 2014 further emphasize the continued interest in DC’s office market. Year-to-date, eight properties
totaling over $1.6 billion worth of foreign capital and 3.0 million sq. ft. of space have been purchased. As Europe continues to show signs
of weakness and instability plagues areas of the Middle East and Asia, these figures are expected to remain stable as foreign investors
search for stronger and safer yield.
8
Economic Overview
ORIGIN OF CAPITAL (January 2009–September 2014)
Country
Total Properties Purchased
Germany
9
Total Volume ($M)
$1,159.20
Japan
5
$813.60
Canada
9
$739.70
Norway
3
$719.20
South Korea
2
$596.00
UK
4
$586.00
Kuwait
2
$516.00
Israel
6
$305.00
Italy
1
$93.50
Other
3
$111.10
Total
44
$5,639.40
Source: Real Capital Analytics
Foreign Sellers
Over the past two years, foreign capital has been among the least active when it comes to disposition of office assets in DC. Year-to-date
there has only been one disposition in DC from a foreign seller. In 2013, there was a handful, a majority of which came from Wereldhave
N.V.’s sale of 1401 New York Avenue and 701 8th Street, NW.
9
ECONOMIC
OVERVIEW
NOTABLE OFFICE SALES COMPS (4Q 2013–3Q 2014)
Property Address
Sale Price ($M)
Price Per SF
Buyer (True) Company
Seller (True) Company
1401 New York Ave NW
$950.0
555 12th St NW
Transaction Date
$450
Heitman LLC, Minshall Stewart Properties, NPS
Loan Star Funds
4Q 2013
$505.0
$640
MetLife, Inc.
Manulife Financial Corporation
1Q 2014
700 13th St NW
$220.1
$851
Kuwait Investment Authority
Beacon Capital Partners
1Q 2014
1333 H St NW
$127.2
$473
MRP Realty, Inc.
Miller Global Properties
3Q 2014
801 17th St NW
$148.8
$948
Morgan Stanley Real Estate Advisor, Inc.
1Q 2014
1110 Vermont Ave NW
$162.5
$530
European Property Investment Corporation
Tishman Speyer
1Q 2014
2550 M St NW
$156.0
$753
Mirae Asset Global Investments
Tishman Speyer
1Q 2014
55 M St SE
$141.5
$529
Hines Global REIT, Inc.
Monument Realty LLC
4Q 2013
2001 Pennsylvania Ave NW
$107.8
$699
Carr Properties
3Q 2014
1775 Eye St NW
$104.5
$564
Washington Real Estate Investment Trust
Lincoln Property Company
2Q 2014
Source: CoStar; Real Capital Analytics
NOTABLE APARTMENT SALES COMPS (4Q 2013–3Q 2014)
Property Address
Sale Price ($M)
Price Per Unit
Buyer (True) Company
Seller (True) Company
2700 Woodley Pl NW
$195.0
3828 Georgia Ave NW
$919,811
TIAA-CREF
The JBG Companies
2Q 2014
$75.0
$344,037
Principal Global Investors LLC
Duball, LLC
3Q 2014
443 New York Ave NW
$73.0
$337,963
Washington Real Estate Investment Trust
Greenfield Partners LLC
1Q 2014
2900 Connecticut Ave NW
$39.0
$295,455
Commonwealth Cooperative
Calomiris Associates
2Q 2014
325 P St SW
$34.9
$156,285
Somerset Development Company LLC
HDF&B Realty Advisors, LLC
4Q 2013
301 G St SW
$34.0
$117,647
Urban Investment Partners, LP
Capitol Park Associates
4Q 2013
1921 Kalorama Rd NW
$19.8
$324,590
Goldman, Sachs & Co.
2Q 2014
1616 16th St NW
$16.0
$280,702
Van Metre Companies
Carmel Partners
2Q 2014
1706 G St NW
$8.0
$333,333
Goldman, Sachs & Co.
4Q 2013
4000-4016 47th St NW
$7.6
$269,643
47th Street LLC
4Q 2013
Source: CoStar; Real Capital Analytics
10
Transaction Date
Enhancing communities and creating dynatic places since 1985
Douglas Development Corporation is one of the most
dominant and successful real estate developers in the
Washington area controlling nearly 9 million square feet.
The Company and its principals have earned a national
reputation as a leader in redevelopment of historical
properties. Douglas Development’s most notable, visible
and well known projects are in the East End of
Washington, and have served as the catalyst for the
redevelopment of the entire area.
With a current portfolio of nearly 9 million leasable
square feet and over 8 million square feet of
developable real estate in the pipeline, Douglas
Development is well established as one of the most
dominant and successful real estate developers in the
Washington area.
CONTACT US:
702 H Street NW, Suite 400
Washington, DC 20001
202.638.6300
www.douglasdevelopment.com
DEVELOPMENT
Summary of Projects
OVERVIEW
DC DEVELOPMENT GROUNDBREAKINGS (September 2014, sq. ft. in millions) 1
13.4
12.7
13.1
11.1
10.7
10.4
10.3
10.6
10.4
9.4
9.6
10.3
7.5
4.3
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
YTD
SUMMARY OF PROJECTS (September 2014)
Projects
Sq. Ft.
Estimated Cost ($B)
1,084
143,308,246
$43.4
2001
79
10,863,811
$2.2
2002
85
9,189,374
$2.2
2003
96
11,436,328
$3.1
2004
97
11,591,945
$2.8
2005
87
10,153,302
$2.4
2006
102
12,933,180
$3.7
2007
73
11,621,355
$3.6
2008
82
12,178,351
$4.1
2009
86
12,248,868
$4.4
2010
52
7,977,660
$2.5
2011
57
5,944,403
$2.3
2012
66
7,512,581
$2.4
2013
79
11,667,858
$4.8
2014 YTD
43
7,989,230
$2.9
Completed
Under Construction
149
23,095,189
$9.2
2014 delivery
31
2,518,958
$1.2
2015 delivery
82
10,292,102
$3.6
2016 delivery
30
6,236,275
$2.3
6
4,047,854
$2.1
Pipeline
339
131,692,249
$38.2
Near Term
102
17,432,652
$4.9
Medium Term
104
16,902,091
$4.8
Long Term
133
97,357,506
$28.5
2017+ delivery
1. all projects
12
10.2
MILLION
average square feet of
groundbreakings per year
from 2010 – 2013
Summary of Projects
PROJECTS COMPLETED (2001–3Q 2014)
# OF PROJECTS
¢ Office
¢ Retail
¢ Residential
¢ Hospitality
¢ Education
236
286
501
166
159
SQ. FT.
51,159,364
6,288,615
53,330,182
16,858,596
13,107,526
UNITS
ROOMS
143.3 MILLION
52,792
12,804
Square Feet Completed
Total Estimated Value of Projects: $43.4 billion
PROJECTS UNDER CONSTRUCTION
# OF PROJECTS
¢ Office
¢ Retail
¢ Residential
¢ Hospitality
¢ Education
17
62
87
22
21
SQ. FT.
3,227,871
1,786,853
10,985,135
2,924,757
3,515,317
UNITS
ROOMS
23.1 MILLION
11,937
2,320
Square Feet Under Construction
PROJECTS NEAR TERM1
# OF PROJECTS
¢ Office
¢ Retail
¢ Residential
¢ Hospitality
¢ Education
24
53
63
21
7
SQ. FT.
UNITS
8,241,631
1,062,165
7,532,460
1,063,449
492,047
8,826
ROOMS
17.4 MILLION
1,207
Square Feet Near Term
PROJECTS MEDIUM TERM1
# OF PROJECTS
¢ Office
¢ Retail
¢ Residential
¢ Hospitality
¢ Education
22
50
69
23
6
SQ. FT.
UNITS
5,419,613
946,108
8,276,012
2,006,455
84,000
8,790
ROOMS
16.9 MILLION
1,514
Square Feet Medium Term
PROJECTS LONG TERM1
# OF PROJECTS
¢ Office
¢ Retail
¢ Residential
¢ Hospitality
¢ Education
58
78
70
29
20
SQ. FT.
34,540,568
3,541,754
35,293,065
2,303,896
4,061,975
UNITS
ROOMS
97.4 MILLION
35,258
2,129
Square Feet Long Term
1. For further explanation of these terms please see the Appendix
13
DEVELOPMENT
Most Active
Developers / Architects / Contractors
OVERVIEW
¢ Completed
The figures below list the developers, architects and contractors that have been the most
active in contributing to DC’s development activity since January 2010.
¢ Under Construction
¢ Pipeline
MOST ACTIVE DEVELOPERS SINCE 2010 (# of projects)1
The JBG Companies
10
7
7
24
WC Smith
7
8
8
23
JAIR LYNCH Development Partners
13
4
3
20
3
4
11
18
Forest City Washington
6
2
6
14
MOST ACTIVE ARCHITECTS SINCE 2010 (# of projects)1
Shalom Baranes Associates
15
5
23
43
Bonstra Haresign Architects
17
3
11
31
Eric Colbert & Associates PC
12
6
9
27
Hickok Cole Architects
8
4
12
24
WDG
7
7
10 24
Torti Gallas & Partners
6
8
8
22
MOST ACTIVE GENERAL CONTRACTORS SINCE 2010 (# of projects) 1
Clark Construction Group LLC
26
12
Hamel Builders
17
9
3
29
Forrester Construction Company
19
4 1
24
Grunley Construction
15
5
3
23
WCS Construction LLC
7
7
8
22
1. projects completed since 2010, under construction or in the pipeline (excludes government agencies and colleges/universities)
14
4
42
DEVELOPMENT
BY SECTOR
Office / Retail / Residential / Hospitality / Education
17
Developing Great Places
Developing Great Partnerships
Developing Great Ideas
3050 K Street, NW • Suite 125 • Washington, DC 20007 • main 202.719.9000 • MRPRealty.com
Development by Sector
OFFICE
19
office
Office Development in the District of Columbia
According to a CoreNet Global Real Estate
survey in 2012, the national average of
sq. ft. occupied per person dropped from
225 sq. ft. in 2010 to 175 sq. ft. in 2012 and
is expected to reach 151 sq. ft. by 2017.
DC OFFICE MARKET SNAPSHOT (3Q 2014)1
INVENTORY
125.4 Million
TOTAL VACANCY RATE
Square Feet
11.3%
NET ABSORPTION
OVERALL AVG. ASKING RENTAL RATE
–823,741
Square Feet (4Q 13–3Q 14)
As office-using employment growth in DC lags behind
the national average, DC’s office market continues to
experience subdued velocity. Leasing activity for deals
over 10,000 sq. ft. totaled approximately 2.1 million sq.
ft. in Q3 2014. Although eight out of the top 10 largest
deals were renewals–including some contractions–no
new growth was observed in DC. As of Q3 2014, CBRE
tracked the overall vacancy rate for the city at 11.3%, an
increase of 90 basis points over the past year.
The 12-month trailing total net absorption was negative
824,000 sq. ft., emphasizing the current lackluster
environment in the DC office market. Though nearly
50% of the decrease in occupied space is due to one
large tenant relocating from DC to Virginia (Intelsat),
the number reflects the manner in which today’s
tenants are using office space.
In an attempt to reduce costs, firms–especially law
firms–look to real estate costs to bump up their bottom
line. Space efficiency trends such as free-address
workstations and telecommuting are allowing for a more
1. CBRE Research
$53.17
per square foot (full service)
flexible work environment and reducing the need for
office space. Over the past year, seven out of the top 10
largest law firm leases involved a contraction in space,
decreasing the occupancy by an average of 22%.
As the DC office market continues to grapple with
uncertainty, landlords are looking to stabilize their
assets by renewing tenants of all sizes before their lease
expiration dates. Over the past 12 months, renewals
accounted for 43% of lease transactions over 10,000 sq.
ft. This number jumps to 63% when analyzing deals
50,000 sq. ft. or larger.
New construction in DC remains limited, as the current
under construction square footage is well below DC’s
five-year annual average of 1.9 million sq. ft. There
are currently 1.6 million sq. ft. of private sector space
currently under construction, with a preleasing rate of
38%, mostly to legal firms.1 Venable LLP recently agreed
to occupy 245,000 sq. ft. at 600 Massachusetts Avenue,
NW, which broke ground in the third quarter of 2014.
660 North Capitol Street, NW, a 200,000-sq.-ft., trophy
Office Development
project in NoMa, also broke ground in the third quarter, though
on a speculative basis. The project is the third building to break
ground in DC on a speculative basis over the past 18 months,
suggesting developers’ growing sense of confidence that leasing
activity will strengthen in the coming years.
Investment sales held steady across DC in 2014. During the first
nine months of 2013, sales volume totaled $2.85 billion, compared
to $2.86 billion during the same time period this year. The largest
sale year to date was 555 12th Street, NW, which sold for $505
million, or approximately $640 per sq. ft.2 Over the past 20 years,
the price per sq. ft. for Class A and B buildings over 50,000 sq.
ft. has grown 7.6%, as institutional investors continue to seek a
historically stable real estate market.
While employment plays an important role in swaying office
space demand, firms are focused on reducing overhead costs
by employing greater efficiency in space use. As companies
continue consolidation and densification, the expected increase
in employment—particularly in the office-using sector—over the
next two years will not lead to a well-defined expansion in their
corporate footprint.
Approximately 1.3 million sq. ft. of private sector office space is
scheduled to deliver by 2015, and while demand is expected to
strengthen, overall vacancy rates will remain elevated at above
11%. The trophy segment of the market, however, will continue
to outperform other product types, as the development pipeline
remains limited and a high demand for trophy space continues.
Trends in Square Footage per Employee
An emerging trend in the global office market, space
efficiency has been substantially present in DC. A major
driver of this trend is firms’ emphasis on maximizing their
bottom line by cutting overhead costs. Firms, particularly in
the legal services sector within DC, are focusing on reducing
their overall space requirement as well as the average sq.
ft. per employee. Meanwhile, advancements in technology
have enabled for a paper-less environment due to laptops,
mobile devices, and wireless internet. This has led to greater
flexibility in the workplace due to the reduced need for
permanent offices or dedicated office space.
Open floor plans have reduced the amount of space needed
by large offices while simultaneously creating a more
collaborative environment; this is considered a win-win in
today’s increasingly dynamic workplace. The trend is especially
evident among the federal government and law firms, two of
DC’s largest demand drivers.
According to a CoreNet Global Real Estate survey in 2012, the
national average of sq. ft. occupied per person dropped from
225 sq. ft. in 2010 to 175 sq. ft. in 2012 and is expected to reach
151 sq. ft. by 2017. Considering the benefits, it is no surprise
this trend has gained notoriety and prominence. As firms
have turned to more collaborative space use, their real estate
strategy has become more efficient while proving beneficial to
their bottom line. ¾
DC OFFICE LEASES: TOP 30 DEALS SIGNED (1Q 2014 – 3Q 2014)1
42% Government
Telecommunications
Technology
Renewal +
Expansion
1.3%
Renewal
70%
3%
1.5%
Other
1.7%
BY INDUSTRY
BY DEAL TYPE
Business Services
4.0%
(Total Sq. Ft.)
(YTD 2014)
Non-profits/
Business Associations
Creative Industries
1. CBRE Research
26%
4.7%
6.1%
New/Relet
38.7% Legal
2. 800 17th Street was sold to TIAA-CREF and Norges Bank Investment Management for $1,075 per sq. ft. ($392 million) in 4Q 2014 (Washington, Business Journal, 10/31/14)
21
OFFICE
DEVELOPMENT
DC OFFICE LEASES: TOP 30 DEALS SIGNED (1Q 2014 - 3Q 2014)
TENANT
LOCATION
SUBMARKET
SQ. FT.
DATE
TYPE
Federal Energy Regulatory Commission (GSA)
888 First St., NE
NoMa
503,997
3Q 2014
Renewal
Hogan Lovells
555 13th St., NW
East End
384,650
2Q 2014
Renewal
Department of Justice (GSA)
600 E St., NW
East End
298,179
3Q 2014
Renewal
Morgan, Lewis & Bockius LLP
1111 Pennsylvania Ave., NW
East End
268,866
3Q 2014
Renewal
The Washington Post
1301 K St., NW
East End
249,898
2Q 2014
New
Venable LLP
600 Massachusetts Ave., NW
East End
245,000
3Q 2014
New
Latham & Watkins
555 11th St., NW
East End
238,300
1Q 2014
Renewal
National Park Service (GSA)
1201 Eye St., NW
East End
220,000
2Q 2014
Renewal
The Department of Veterans Affairs (GSA)
1800 G St. NW
CBD
163,917
2Q 2014
Renewal
White & Case LLP
701 13th St., NW
East End
147,999
2Q 2014
Renewal
National Labor Relations Board (GSA)
1015 Half St., NE
Capitol Riverfront
145,000
1Q 2014
New
O’Melveny & Myers LLP
1625 Eye St., NW
CBD
100,087
3Q 2014
Renewal
Millennium Challenge Corp.
1099 14th St., NW
East End
96,894
1Q 2014
New
Reed Smith LLP
1301 K St., NW
East End
79,692
2Q 2014
Renewal
PhRMA
950 F St., NW
East End
73,452
3Q 2014
Renewal
European External Action Service (EU)
2175 K St., NW
CBD
71,055
3Q 2014
Renewal
USAO (GSA)
501 3rd St., NW
Capitol Hill
70,000
2Q 2014
Renewal
World Resources Institute
10 G St., NE
NoMa
65,609
3Q 2014
Renewal
Norton Rose Fulbright
799 9th St., NW
East End
65,000
1Q 2014
New
Boies Schiller & Flexner
5301 Wisconsin Ave., NW
Uptown
63,241
2Q 2014
Renewal/Expansion
DC Courts
616 H St., NW
East End
63,000
1Q 2014
Renewal
Palantir Technology
1025 Thomas Jefferson St., NW
Georgetown
61,000
3Q 2014
New
FCC (GSA)
1250 Maryland Ave., SW
Southwest
56,500
1Q 2014
Renewal
Mercer Inc
1050 Connecticut Ave., NW
CBD
56,460
1Q 2014
New
IBM
800 K St., NW
East End
56,269
1Q 2014
Renewal
SSA (GSA)
500 E St., SW
Southwest
55,745
1Q 2014
Renewal
U.S. Department of the Treasury (GSA)
1722 EYE St., NW
CBD
54,771
2Q 2014
New
Verizon
1300 Eye St., NW
East End
54,035
3Q 2014
Renewal
National Cable & Telecommunications Association
Capitol Hill
52,944
1Q 2014
Renewal
Accenture
370 L’Enfant Promenade, SW
Southwest
52,878
3Q 2014
Renewal
Source: CBRE Research
22
Development Overview
OFFICE PROJECTS (September 2014, office sq. ft. in millions)
GROUNDBREAKINGS
Private
3.1
2000
3.3
0.5 3.8
2002
3.3
0.8
2.2
0.6
2001
4.1
2006
3.0
2010
0.9
1.1
2005
4.1
2006
2012
2013
2014
YTD
1.3
1.1
1.3
0.4
3.5
1.2
3.2
3.6
3.6
4.4
3.7
2008
2.0
3.6
1.2
0.2 1.6
2012
0.2 1.2
1.3
0.7
1.2
2014
1
0.6 4.3
3.2
2016
0.7
3.4
2.4
2.4
2.1 4.5
0.5 0.4 0.1 1.0
1.3 0.1
20151
1
5.9
0.9 1.5
2013
1.8
1.5
5.6 0.4 6.0
2.7
2010
2011
6.3
2.8
2007
1.6
0.5
2.0
2.3
3.0
2009
2.9
1.2
4.7
2.8
2004
3.8 0.4
2.0
0.7
2011
0.5
5.3
4.2
4.7
2009
0.4
1.4
2007
2008
3.0
2003
4.9
2.8
4.1
2002
2.9
2004
2005
Government
Government (projected)
3.1
2001
2003
Private
Private (projected)
COMPLETED
Government
0.7
0.3
1.3
0.9
OFFICE DEVELOPMENT (September 2014)
PROJECTS
Completed
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014 YTD
OFFICE SQ. FT.
236
27
23
19
12
17
25
16
20
23
10
10
8
20
6
51,159,364
6,331,725
3,013,280
2,769,592
3,201,153
3,622,716
5,903,380
4,276,463
3,236,473
6,033,060
3,408,455
2,442,869
1,531,946
4,469,239
919,013
17
1
9
4
3
3,227,871
80,549
1,345,312
938,592
863,418
Pipeline
Near Term
Medium Term
Long Term
104
24
22
58
48,201,812
8,241,631
5,419,613
34,540,568
TOTAL
357
102,589,047
Under Construction
2014 delivery
2015 delivery
2016 delivery
2017+ delivery
3.86
MILLION
average office sq. ft. delivered
per year (2001–2013)
1. projections based on targeted delivery dates of projects under construction as of September 2014
23
DEVELOPMENT MAP
OFFICE
22
E
AV
14TH ST.
UT
GEORGIA AVE
TIC
EC
NN
CO
ROCK
CREEK
PARK
U ST.
VE
DA
LAN
E IS
OD
RH
VE
KA
OR
GE
WY
OR
NE
GE
W
AS
HI
N
G
TO
N
M
E
AL
RI
O
M
Y
W
PK
13
30 23
16
VIRGINIA
2
66
20
14
3
10
6
27
18
21
9
4 28
7 12
15
UNION
17
26 STATION
5
1
25
H ST.
E. CAPITOL ST.
NATIONAL MALL
VIRGINIA
8
U.S. CAPITOL
11
24
19
FORT DUPONT
PARK
NATIONALS
PARK
M
395
1
M
M NATIONAL
AIRPORT
Alexandria
Completed
Under Construction
Pipeline
29
M A RTIN LUTHER KING
JR.
AV
E.
M
Development Pipeline
PROJECT
WARD LOCATION
DEVELOPER(S)
OFFICE SF
EST. VALUE
($M) 1
DELIVERY2
TOP OFFICE PROJECTS COMPLETED (4Q 2013–3Q 2014)
1
CityCenterDC
2
9th, 10th, 11th, H, & I Sts., NW
Hines/The First Investor
515,000
$700
4Q 13
2
GSA Headquarters (Ph I)
2
1800 F St., NW
GSA
387,824
$161
4Q 13
3
3 Constitution Square
6
175 N St., NE
StonebridgeCarras LLC/
Walton Street Capital
344,000
$140
4Q 13
4
Sentinel Square (Ph II)
6
1050 1st St., NE
Trammell Crow Company
265,480
$110
4Q 13
5
440 1st Street
6
440 1st St., NW
First Potomac Realty Trust
134,000
$40
4Q 13
6
1700 New York Avenue
2
1700 New York Ave., NW
Carr Development
124,000
$80
4Q 13
7
Association of American Medical Colleges
6
655 K St., NW
Hines/JM Zell
273,200
$115
2Q 14
8
Sidney Yates Building Renovation
6
14th St. & Independence Ave., SW
GSA
180,000
$24
2Q 14
9
U.S. Department of Commerce - Herbert Hoover
Building (Ph III)
2
14th & Constitution Ave., NW
GSA
246,813
$58
3Q 14
10
1200 17th Street
2
1200 17th St., NW
Akridge/Mitsui Fudosan America
162,000
$120
3Q 14
TOP OFFICE PROJECTS UNDER CONSTRUCTION
11
National Square
6
500 D St., SW
342,000
$140
3Q 15
12
601 Massachusetts Avenue
6
Boston Properties
460,500
$150
4Q 15
13
2001 M Street
2
2001 M St., NW
Brookfield Properties
285,000
14
Department of the Interior (Ph VI)
2
1849 C St., NW
GSA
250,000
$60
1Q 16
15
Republic Square (Ph II)
6
660 North Capitol St., NW
Republic Properties Corporation
185,000
$65
1Q 16
16
900 16th Street
2
900 16th St., NW
The JBG Companies
122,000
17
2
Gould Property Company/
Oxford Properties Group
381,592
$206
3Q 16
18
Lafayette Building
2
811 Vermont Ave., NW
GSA
466,818
$112
1Q 17
19
The Wharf (Ph I)
6
Southwest Waterfront
Hoffman-Madison Waterfront
230,000
$806
4Q 17
20
Harry S. Truman Building Modernization
2
2201 C St., NW
GSA
166,600
$97
2Q 18
1,648,821
$63
2016
4Q 15
1Q 16
TOP OFFICE PROJECTS PIPELINE (Near Term)
21
U.S. Department of Commerce - Herbert Hoover
Building (Ph IV)
2
14th & Constitution Ave., NW
GSA
22
4000 Connecticut Avenue
3
4000 Connecticut Ave., NW
The 601 W Companies
620,000
$45
2016
23
1800 K Street
2
1800 K St., NW
Deutsche Asset & Wealth Management
185,000
$40
2016
24
Hine Junior High School
6
700 Pennsylvania Ave., SE
Stanton Development Corp./EastBanc/
Dantes Partners/Jarvis Co.
160,000
$190
2016
25
1000 F Street
2
1000 F St., NW
94,000
$32
2016
26
Capitol Crossing (North Block)
2
I-395 at 3rd St. &
Massachusetts Ave., NW
Property Group Partners/Center Place
Holdings LLC
936,000
27
Consumer Financial Protection Bureau HQ
Modernization
2
1700 G St., NW
GSA
503,000
28
Storey Park
6
1005 1st St., NE
Perseus Realty/First Potomac Realty Trust
350,000
29
Center Building (DHS HQ)
8
St. Elizabeths West Campus
GSA
270,000
30
2100 K Street
2
2100 K St., NW
Blake Real Estate
150,000
1. may include non-office components & pipeline values may include additional phases ($ in millions)
2017
$139
2017
2017
$139
2017
2018
2. delivery date may reflect phase I delivery or final phase delivery for pipeline projects
25
OFFICE
Development Highlights
DEVELOPMENT
Image courtesy of CoStar
1200 17th Street
WARD
2
900 16th Street
WARD
2
LOCATION: 1200 17th Street, NW
Akridge/Mitsui Fudosan America
ARCHITECT(S): ZGF Architects LLP
CONTRACTOR(S): Balfour Beatty Construction
LEED: Platinum
EST. COST: $120 million
STATUS: Completed
TARGETED DELIVERY: 3Q 2014
LOCATION:
DEVELOPER(S):
DEVELOPER(S): 900 16th Street, NW
The JBG Companies
ARCHITECT(S): Cooper Carry Inc
CONTRACTOR(S): James G Davis Construction Corporation
LEED: Gold
STATUS: Under Construction
SPECS: The 169,000 sq. ft. trophy office building was built on the site of the
SPECS: The former Brutalist-style Third Church of Christ, Scientist building was
former headquarters building for the National Restaurant Association. The
building offers floor-to-ceiling glass, column-free interiors and up to 6,000 sq.
ft. of retail/restaurant space. Pillsbury Winthrop Shaw Pittman is the anchor
office tenant.
demolished and will be replaced by a 140,000 sq. ft. office building with 5,100 sq.
ft. of retail space and a new 11,722 sq. ft. church.
Image courtesy of CoStar
1000 F Street
WARD
2
2235 Shannon Place
WARD
8
LOCATION: 1000 F Street, NW
ARCHITECT(S): Shalom Baranes Associates
LEED: Gold EST. COST: $32 million
STATUS: Near Term
LOCATION: DEVELOPER(S): DEVELOPER(S): SPECS: 1000 F Street will be an 11-story, 100,000 sq. ft. office building with 7,000
SPECS: The existing four-story building will undergo a gut-rehabilitation, receive
sq. ft. of ground floor retail, anchored by American Eagle. An existing two-story
historic structure on the site will be incorporated into the development.
26
2235 Shannon Place, SE
Curtis Development/Four Points LLC
ARCHITECT(S): PGN Architects PLLC
CONTRACTOR(S): Forrester Construction Company
a new glass façade and a new penthouse. The 82,000 sq. ft. office building will
be home to the DC Taxicab Commission, DC Lottery and DDOT’s Business
Opportunity & Workforce Development Center. The building was a former
evidence warehouse.
The Lumber Shed
WARD
Association of American Medical Colleges (AAMC)
6
WARD
LOCATION: 301 Water Street, SE
ARCHITECT(S): Gensler
CONTRACTOR(S): Monarc Construction
STATUS: Completed
LOCATION: DEVELOPER(S): DEVELOPER(S): SPECS: The Lumber Shed project is an adaptive reuse of a former Navy Yard
SPECS: The AAMC’s new 290,000 sq. ft. headquarters includes 14,300 sq.
ARCHITECT(S): CONTRACTOR(S): LEED: STATUS: industrial building used for storing and drying lumber. The two-level 29,500
sq. ft. building was transformed into restaurant space on the first floor (Osteria
Morini, Agua 301, Ice Cream Jubilee) and office space on the second floor (Forest
City Washington).
6
655 K Street, NW
Hines/JM Zell
Gold
Completed
ft. of retail space. The four existing buildings on the site were renovated and
incorporated into the final design.
Image courtesy of the Trammell Crow Company
Image courtesy of First Potomac Realty Trust
Storey Park
WARD
6
National Square
WARD
6
LOCATION: 1005 1st Street, NE
ARCHITECT(S): HKS PC
LEED: Gold
STATUS: Near Term
TARGETED DELIVERY: 2017
LOCATION: DEVELOPER(S): DEVELOPER(S): SPECS: A 683,000 sq. ft. mixed-use development will be built on the former
SPECS: National Square will be a new 12-story, 342,000 sq. ft. highly secure office
Greyhound Station site in NoMa. Plans call for 350,000 sq. ft. of office space,
65,000 sq. ft. of retail space and 300 residential units. Construction could
start in 2015.
ARCHITECT(S): CONTRACTOR(S): LEED: STATUS: 500 D Street, SW
Gensler
Silver
Under Construction TARGETED DELIVERY: 3Q 2015
building located at the corner of 6th & D Streets, SW across the street from the
L’Enfant Metrorail Station. The existing 134,000 sq. ft. Class-B office building on
the site was demolished.
27
OFFICE
DEVELOPMENT
Image courtesy of Boston Properties
LOCATION: DEVELOPER(S): ARCHITECT(S): CONTRACTOR(S): LEED: STATUS: WARD
GSA Headquarters (Phase I)
6
601 Massachusetts Avenue, NW
Boston Properties
Duda Paine Architects
Gold
LOCATION: DEVELOPER(S): ARCHITECT(S): CONTRACTOR(S): LEED: STATUS: SPECS: This eleven-story office building will offer 460,500 sq. ft. of office space
(anchored by Arnold & Porter) and 18,300 sq. ft. of retail/restaurant space. The
main lobby includes a nine-story atrium, scaling down to a two-story space prior
to reaching the West Tower and East Tower elevator lobbies.
WARD
2
1800 F Street, NW
GSA
Whiting-Turner Contracting Company/
Walsh Construction
Gold
Completed
SPECS: Phase I involved the complete renovation of 388,326 sq. ft. (gross) of
existing office space and the addition of 102,000 sq. ft. (gross) as new courtyard
infill office space. GSA workers started moving back into the building in 2Q 2013.
Burnham Place at Union Station
LOCATION: DEVELOPER(S): ARCHITECT(S): EST. COST:
STATUS: WARD
6
Union Station Air Rights
Akridge
$1.3 billion
Long Term
TARGETED DELIVERY: 2022 (Ph I)
Burnham Place is a three million square foot development that will create a
new neighborhood above the rail yards north of Union Station. Plans call for 1.5
million sq. ft. of office space, 100,000 sq. ft. of retail space, 400 hotel rooms and
1,300 residential units.
28
1728 14th Street
WARD
2
Perseus Realty
ARCHITECT(S): Bonstra | Haresign Architects
CONTRACTOR(S): Turner Construction Company
STATUS: Completed
DEVELOPER(S): SPECS: 1728 14th Street is a new four-story, 28,500 sq. ft. office building with
14,500 sq. ft. of ground floor and second floor retail space anchored by West Elm.
Bonstra Haresign Architects will occupy the third-floor office space.
Image courtesy Gould Property Company
900 G Street
2
Gould Property Company/Oxford Properties Group
CORE
Platinum
LOCATION: DEVELOPER(S): ARCHITECT(S): CONTRACTOR(S): LEED: STATUS: SPECS: 600 Massachusetts Avenue will be a 10-story, 401,000 sq. ft. class-A office
WARD
2
900 G Street, NW
MRP Realty/ASB Real Estate
Gensler
James G Davis Construction Corporation
Gold
SPECS: The former YWCA building was demolished and will be replaced by
building with 19,418 sq. ft. of retail space. Venable will be the anchor office tenant.
The project involves renovating and moving two row houses on the site.
nine-story, 110,000 sq. ft. office building with 6,500 sq. ft. of retail space.
Image courtesy of City Partners LLC
Image courtesy of Property Group Partners
Capitol Crossing
WARD
2
I-395 at 3rd St. & Massachusetts Avenue, NW
Property Group Partners/Center Place Holdings LLC
ARCHITECT(S): Kevin Roche John Dinkeloo & Associates LLC/SOM/
Kohn Pedersen Fox & Associates
CONTRACTOR(S): Balfour Beatty Construction
LEED: Platinum
EST. COST: $1.3 billion
STATUS: Under Construction (Platform)
TARGETED DELIVERY: 2017 (Ph I)
Square 5914
LOCATION: LOCATION: DEVELOPER(S): DEVELOPER(S): ARCHITECT(S): LEED: STATUS: WARD
8
1290 Alabama Avenue, SE
City Partners LLC/Sanford Capital
Maurice Walters
Gold
Medium term
SPECS: The project is adjacent to the Congress Heights Metrorail Station and will
be developed into a 236,000 sq. ft. office building with 8,600 sq. ft. retail space
and a 206-unit apartment building with 6,500 sq. ft. of retail space.
SPECS: Capitol Crossing will be a 2.2 million sq. ft. mixed-use development
built above I-395. Upon full built-out the project will offer 1.9 million sq. ft. of
office space, 63,000 sq. ft. of retail space, 150 residential units and a new Jewish
Historical Society Synagogue. Utility work began in 1Q 2014 with the delivery of
the office buildings (954,000 sq. ft.) in the North Block expected in 2017.
29
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Copyright © 2014 Holland & Knight LLP All Rights Reserved
RETAIL
31
retail
Retail Development in the District of Columbia
The city’s estimated median
household income is projected
to rise 15.0% over the next
five years to $77,143 in 2019.
DC RETAIL MARKET SNAPSHOT (3Q 2014)
TAXABLE RETAIL & RESTAURANT
SALES (2013)
1
$11.5 billion
RETAIL SF UNDER CONSTRUCTION
1.8 million
square feet
(13.8% increase since 2010)
POPULATION GROWTH2
+6.8%
2010–2013
Retail sales in the District of Columbia account for
approximately 79% of the $13 billion in total consumer
expenditures, creating a retail opportunity gap of an
estimated $2.8 billion.3 This strong retail demand is
related in-part to DC’s high volume of tourists. A
record-breaking 19.0 million tourists traveled to DC in
2013. These millions of tourists spent a total of $6.69
billion during their visits, which comprised 8.9% and
5.9% increases in domestic and international tourist
spending, respectively.4
DestinationDC expects total visitor volume to grow
by 2 to 3% each year through 2017.4 Local purchasing
capacity also influences retail demand in DC. The
city’s estimated median household income is projected
NEW GROCERY STORES7
6
under construction
to rise 15.0% over the next five years to $77,143 in 2019.
In comparison, the U.S. is projected to see a 4.0%
increase from the current year median household
income of $51,352. The statistics detailed above show
DC’s potential for growth in retail demand.5
The DC retail market has experienced several
significant shifts, one of which is the expansion of the
restaurant scene. A host of restaurants have opened
in recent years in areas such as the 14th Street and
H Street corridors, and have played an instrumental
role in transforming DC’s retail sector. This trend has
continued in 2014, as indicated in the graph on the
following page by the projected 4.5% jump in sales for
food services and drinking places.6
1. Office of the Chief Financial Officer (FY 2015 Proposed Budget & Financial Plan) 2. U.S. Census 3. Nielson 4. Destination DC (2013)
5. Nielson 6. Moody’s Analytics 7. Harris Teeter (1212 4th St., SE), Giant (3336 Wisconsin Ave., NW) and MOM’s (1501 New York Ave., NE) opened in 4Q 2014
Retail Development
DC RETAIL SALES GROWTH (Q2 2014 over Q2 2013, trailing four quarters)
27.3%
General merchandise stores
18.6%
Electronics & applicance stores
14.7%
Health & personal care stores
12.7%
Furniture & home furnishing stores
9.5%
Food & beverage stores
6.0%
Clothing & clothing accessories stores
5.4%
Total Retail Sales
4.5%
Food services and drinking places
1.8%
Sporting goods; hobby; book; & music stores
-4.4%
Gasoline stations
Nonstore retailers
Source: Moody’s Analytics
-25.5%
-25%
-20
-15
-10
The openings of DBGB, Del Frisco’s Double Eagle Steakhouse
and Le Diplomate illustrate this restaurant-centric trend. Rose’s
Luxury, which recently opened in DC, was ranked as the number
one restaurant in the U.S. in 2014.8 These high-end openings
coincided with numerous quick-serve openings. DC claimed
the third best growth market for quick service restaurants in a
2014 study that examined quick-serve restaurant traffic growth
forecasts for 2013 to 2018.9 The restaurant industry’s growth
indicates the ever-evolving character of DC’s retail landscape.
While sales increased for food services and drinking places, the
increase was even more dramatic for other sectors, including:
clothing & clothing accessories, food & beverage, general
merchandise, furniture, and health & personal care stores.
Over the past year, retail sales for general merchandise have
increased an estimated 27.3%, by roughly the same percentage
that non-store retailer sales have declined. Thus, DC retail sales
have experienced an overall increase from 2013 to 2014, but
performance has varied considerably according to segment.10
-5
0
5
10
15
20
25
30%
AVERAGE RETAIL RENTAL RATES PER SUBMARKET
SUBMARKET
PER SQ. FT. RANGE
Capitol Hill
High $30s - $65
Capitol Riverfront
$35 - $50
CBD
$45 - $125
East End
$45 - $125
Georgetown
$55 - $200
H St. NE
$35 - $55
NoMa
$35 - $50
Northeast
$30 – High $40s
Southwest
Low $30 - $55
Uptown
$35 - $70
West End
$40 - $55
Source: CBRE Research
Finally, the opening of CityCenterDC, a 1.6 million-sq.-ft.,
mixed-use development (with 185,000 sq. ft. of retail space), was a
capstone event for DC’s growing urban retail market. In planning
and design since 2003, CityCenterDC has provided a highend retail anchor in the downtown with retailers such as Allen
Edmonds, Hugo Boss, Burberry, Longchamp and Arc’teryx. ¾
8. Bon Appetit (8/19/14)
9. The NPD Group/QSR
10. Moody’s Analytics
33
RETAIL
DEVELOPMENT
TOP RETAIL LEASES (YTD 2014)
COMPANY NAME
ADDRESS
BUILDING/PROJECT NAME
Lowe’s2
Walmart
Whole Foods
Marshall’s
Saks Fifth Avenue3
Walgreens
Planet Fitness
Old Navy
MOM’s Organic Market
GAP
Petco
Theodore’s3
CVS Caremark
One to One Fitness, Inc.
Momofuku
Paul Stuart
Texas de Brazil
Passion Food Hospitality, LLC
Hugo Boss
Mindful Restaurant Group
Ferragamo
33rd Street & South Dakota Avenue, NE
58th & East Capitol Streets, NE
600 H Street, NE
5333 Wisconsin Avenue, NW
1155 F Street, NW
1401 New York Avenue, NE
1155 F Street, NW
1275 Pennsylvania Avenue, NW
1750 K Street, NW
850 10th Street, NW
875 10th Street, NW
700 6th Street, NW
800 10th Street, NW
1001 H Street, NW
Shops at Dakota Crossing
Capitol Gateway Marketplace
Apollo
Friendship Center
Mazza Gallerie
Hecht Warehouse District
Chevy Chase Pavilion
CityCenterDC
CityCenterDC
CityCenterDC
CityCenterDC
SQ. FT. 1
NEIGHBORHOOD
136,000
135,000
39,000
29,000
22,055
19,500
19,000
18,000
16,000
14,000
12,000
11,000
10,000
9,000
9,000
8,000
8,000
8,000
6,500
6,000
4,000
Fort Lincoln/Dakota Crossing
East Capitol Street/Capitol Gateway
H Street, NE
Chevy Chase/Friendship Heights
Chevy Chase/Friendship Heights
Downtown DC
New York Ave/Bladensburg Road
Uptown
New York Avenue/Bladensburg Road
Downtown DC
Northeast
Glover Park
Downtown DC
Golden Triangle
Downtown DC
Downtown DC
Mt. Vernon Triangle
Downtown DC
Downtown DC
New York Avenue/Bladensburg Road
Downtown DC
1. rounded to nearest thousand 2. purchased a pad site for $3.58 million (Washington Business Journal, 8/21/14) 3. renewal
O, the view from the top.
800 P STREET, NW WASHINGTON, DC 20001 • CITYMARKETATO.COM
It’s the view to one of DC’s most iconic neighborhoods—the birthplace
of Duke Ellington and the local jazz scene—which also happens to be a
modern cultural gem. It’s the view to life at City Market at O. Start your
day with a grande at Starbucks. Grocery shop at the reimagined O Street
Market, now home to Giant. Dine at Convivial, opening this spring. Take
your pooch and head out of your luxe apartment for a stroll that ends up
in your very own dog park. Take a swim in the rooftop inﬁnity pool. Then
settle in with a nightcap by the outdoor ﬁrepit. You’re in your element. And
on top of the world.
34
© Maxwell Mackenzie
the new element of style.
RETAIL PROJECTS (September 2014, retail sq. ft.)
GROUNDBREAKINGS
2000
Projected
COMPLETED
111,800
2001
2002
555,610
2003
2004
570,488
2008
2009
2010
711,923
2005
911,203
2006
262,547
294,862
2007
239,150
378,658
2008
265,276
867,131
2009
301,840
265,943
2010
654,230
2012
2013
369,208
2004
439,866
2011
347,229
2003
2006
2007
311,800
2002
293,481
2005
226,178
2001
323,849
1,035,426
694,485
330,700
2011
312,345
2012
314,324
2013
2014
YTD
1,050,839
1,067,236
20141
491,078
20151
2016
1
192,337 683,415
841,157
229,359
RETAIL DEVELOPMENT (September 2014)
PROJECTS
Completed
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014 YTD
RETAIL SQ. FT.
286
18
22
19
22
26
24
22
22
27
10
11
16
28
19
6,288,615
226,178
311,800
347,229
369,208
711,923
294,862
378,658
867,131
265,943
330,700
312,345
314,324
1,067,236
491,078
62
13
31
14
4
1,786,853
192,337
841,157
229,359
524,000
Pipeline
Near Term
Medium Term
Long Term
181
53
50
78
5,550,027
1,062,165
946,108
3,541,754
TOTAL
529
13,625,495
Under Construction
2014 delivery
2015 delivery
2016 delivery
2017+ delivery
28
In 2014 DC will open
its 28th new grocery store
since 2000.
35
DEVELOPMENT MAP
RETAIL
22
3
14
18
10
CO
E
AV
24
13
U ST.
14TH ST.
UT
ROCK
CREEK
PARK
8
GEORGIA AVE
TIC
EC
NN
11
9
15
VE
DA
LAN
E IS
OD
RH
O
GE
WY
OR
NE
E
AV
RK
12
GE
W
AS
HI
N
G
TO
N
M
E
AL
RI
O
M
Y
W
PK
5
27 1
29
VIRGINIA
2
66
28
30
26
4 UNION
17
H ST.
STATION
E. CAPITOL ST.
NATIONAL MALL
VIRGINIA
U.S. CAPITOL
6
23
19
16
FORT DUPONT
PARK
NATIONALS
PARK
7
25
M
395
1
M
M NATIONAL
AIRPORT
Alexandria
Completed
Under Construction
Pipeline
JR.
AV
E.
M
20
21
PROJECT
WARD LOCATION
DEVELOPER(S)
RETAIL SF
EST. VALUE
($M)1
DELIVERY2
TOP RETAIL PROJECTS COMPLETED (4Q 2013–3Q 2014)
1 The Shops at Georgetown Park
2
3222 M St., NW
AG Georgetown Park Holdings/Vornado/CES
330,000
$32
4Q 13
2 CityCenterDC
2
185,000
$700
4Q 13
3 Walmart on Georgia Avenue
4
5929 Georgia Ave., NW
Foulger-Pratt
106,000
4 77 H
6
1st & H Sts., NW
The JBG Companies/Bennett Group
86,000
$90
4Q 13
5 CityMarket at O (Ph I - Giant)
6
1400 7th St., NW
75,000
$35
4Q 13
6 L’Enfant Plaza Redevelopment (Ph II)
6
950 L’Enfant Plaza, SW
The JBG Companies
93,000
$17
2Q 14
7 Twelve12
6
1212 4th St., SE
88,000
$100
2Q 14
8 Monroe Street Market
5
700 - 800 blocks of Monroe St., NE Abdo Development/Bozzuto Group/Catholic University
56,915
$150
2Q 14
9 The Louis at 14th
2
1420 U St., NW
The JBG Companies/Georgetown Strategic Capital
44,000
$100
2Q 14
10 The Swift
4
Duball LLC/Safeway
62,000
$65
3Q 14
$130
4Q 14
4Q 13
TOP RETAIL PROJECTS UNDER CONSTRUCTION
11
Cathedral Commons
3
3336 & 3400-3430 Wisconsin
Ave., NW
Giant Food/Bozzuto Group/Southside Investment Partners
125,000
12
5
1401 New York Ave., NE
200,800
13
2251 Wisconsin Avenue
3
2251-2255 Wisconsin Ave., NW
Altus Realty Partners/Chesapeake Realty Partners
28,277
$32
1Q 15
14
Fort Totten Square
4
South Dakota Ave. & Riggs Rd., NE
The JBG Companies/Lowe Enterprises
130,000
$120
2Q 15
15
The Shops at Dakota Crossing (Ph II)
5
New York Ave. &
South Dakota Ave., NE
Fort Lincoln New Town Corporation/Trammell Crow
Company/CSG Urban Partners
266,000
$40
3Q 15
16
800 New Jersey Avenue
6
New Jersey Ave. & H St., SE
WC Smith
35,000
$135
3Q 16
17
Apollo
6
610 H St., NE
Insight Property Group LLC
75,000
$190
4Q 16
18
ART Place at Fort Totten (Ph I)
5
5180 South Dakota Ave., NE
Cafritz Foundation
104,000
$117
2Q 17
19
The Wharf (Ph I)
6
190,000
$806
4Q 17
20
Skyland Town Center (Ph I)
7
Alabama Ave. & Naylor Rd., SE
Rappaport/WC Smith/Marshall Heights CDO
220,000
$150
2017/18
167,450
$120
2016
4Q 14/2015
TOP RETAIL PROJECTS PIPELINE (Near Term)
21
7
58th & East Capitol Sts., NE
A&R Development/DCHA/Henson Dev. Co.
22
Georgia Eastern
4
60,000
23
6
Stanton Development Corp./EastBanc/Dantes Partners/
Jarvis Co.
40,000
$190
2016/17
24
The Line DC
1
1780 Columbia Rd., NW
Friedman Capital Advisors/Foxhall Partners/Sydell Group
20,903
$100
2016/17
25
The Riverfront
6
100 Potomac Ave., SE
FRP Development Corp./MRP Realty
18,650
$100
2016/17
26
Storey Park
6
1005 1st St., NE
65,000
27
Prospect Place
2
3220 Prospect St., NW
McCaffery Interests
27,600
28
Gateway Market
5
340 Florida Ave., NE
LCOR Inc./EDENS
27,410
29
CityCenterDC (Conrad Hotel)
2
10th & New York Ave., NW
Hines
70,000
30
Uline Arena
6
1140 3rd St., NE
50,000
2016/17
2017
2017
$55
2017
2018
$120
1. may include non-retail components & pipeline values may include additional phases ($ in millions) 2. delivery date may reflect phase I delivery or final phase delivery for pipeline projects
37
RETAIL
DEVELOPMENT
Image courtesy of Urban Atlantic
CityCenterDC
2
9th, 10th, 11th, H, & I Streets, NW
Foster & Partners/Shalom Baranes Associates/Lee
and Associates Inc
Clark Construction Group LLC/Smoot Construction
Gold
Completed
TARGETED DELIVERY: 4Q 13–2Q 14
SPECS:The redevelopment of the southern portion (Parcel A) of the former
convention center site includes 515,000 sq. ft. of office space, 185,000 sq. ft. of
retail space and 674 apartments and condominiums.
The Parks at Walter Reed
WARD
4
LOCATION: 6800 Georgia Avenue, NW
Hines/Urban Atlantic/Triden Development Group/
DMPED
EST. COST: $1 billion
STATUS: Long Term
DEVELOPER(S): SPECS: 66.57 acres of the 110.1-acre campus will be redeveloped into
approximately 3.1 million sq. ft. of mixed-use development. The proposed
development includes 2,097 residential units, up to 250,000 sq. ft. of retail space,
770,000 sq. ft. of office/medical/education space and 20 acres of open space.
Image courtesy of Douglas Development
WARD
5
ARCHITECT(S): Shalom Baranes Associates/Antunovich Associates
CONTRACTOR(S): Clark Construction Group LLC/McCullough
Construction LLC
TARGETED DELIVERY: 4Q 14–2015
The Louis at 14th
LOCATION: LOCATION: DEVELOPER(S): DEVELOPER(S): SPECS: The redevelopment plan calls for 330 apartments and 200,800 sq. ft. of
retail space on the 9.8-acre site. The historic Hecht’s Warehouse will be converted
into apartments and retail. An adjacent building will include one floor of retail
below a parking garage. MOM’s Organic Market opened a 16,000 sq. ft. store in
November 2014.
38
ARCHITECT(S): CONTRACTOR(S): LEED: STATUS: WARD
1420 U Street, NW
The JBG Companies/Georgetown Strategic Capital LLC
Eric Colbert & Associates PC
Balfour Beatty Construction
Silver
Completed
SPECS: The Louis at 14 is a nine-story, mixed-use building with 268 apartments
and 44,000 sq. ft. of retail space (anchored by a Trader Joe’s grocery store). JBG
sold the project to TIAA-CREF in June 2014.
2
Image courtesy of Rappaport
Image courtesy of EDENS
1270 4th Street
WARD
Skyland Town Center (Phase I)
5
1270 4th Street, NE
EDENS/Level 2 Development
STATUS: Near Term
LOCATION: LOCATION: DEVELOPER(S): DEVELOPER(S): ARCHITECT(S): CONTRACTOR(S): LEED: STATUS: SPECS: This proposed 11-story, 408,000 sq. ft., 420 to 520-unit residential
building will offer up to 40,000 sq. ft. of retail space. The project is part of the
eight million sq. ft. Union Market District proposed redevelopment vision.
WARD
7
Alabama Avenue & Naylor Road, SE
Rappaport/WC Smith/Marshall Heights CDO
WCS Construction LLC/L. F. Jennings Inc.
Silver
Under Construction TARGETED DELIVERY: 2017-2018
SPECS: The planned redevelopment of the 18.5-acre Skyland Shopping Center will
occur in phases and result in up to 323,000 sq. ft. of retail space, 485 residential
units and nearly 1,700 parking spaces. Phase I is scheduled to include 220,000 sq.
ft. of retail space (120,000 sq. ft. Walmart) and 250-270 apartments.
Image courtesy of SK & I Architectural Design Group
Image courtesy of Walmart
LOCATION: DEVELOPER(S): ARCHITECT(S): CONTRACTOR(S): EST. COST: STATUS:
WARD
58th & East Capitol Streets, NE
A&R Development/DC Housing Authority/
Henson Development Company
Bignell Watkins Hasser Architects/
Massa Montalto Architects/
$120 million
Near Term TARGETED DELIVERY: 2016
SPECS: The 12-acre site will be redeveloped into approximately 167,000 sq. ft. of
retail space, anchored by a 135,000 sq. ft. Walmart, and 304 apartments.
7
800 New Jersey Avenue
WARD
6
LOCATION: New Jersey Avenue & H Street, SE
WC Smith
ARCHITECT(S): SK & I Architectural Design Group LLC
CONTRACTOR(S): WCS Construction LLC
LEED: Silver
EST. COST:
$135 million
DEVELOPER(S): SPECS: 800 New Jersey Avenue will consist of 336 loft-style apartments with 10-
foot ceilings and a 35,000 sq. ft. Whole Foods with two levels of grocery parking
above the store. It is the second phase of the 1.4 million sq. ft. mixed-use Square
737 development.
39
RETAIL
DEVELOPMENT
Image courtesy of Hoffman-Madison Waterfront
The Wharf (Phase I)
77 H
6
Perkins Eastman/BBG-BBGM/
Cunningham|Quill Architects PLLC
Gilford Corporation/Clark Construction Group LLC
Gold
6
1st & H Streets, NW
MV+A Architects/Preston Partnership LLC
Silver
Completed
SPECS: A former parking lot was redeveloped into 86,000 sq. ft. of retail space,
anchored by a 76,000 sq. ft. Walmart (with 40,000 sq. ft. for groceries), 303
apartments and 9,800 sq. ft. of additional retail/restaurant space. JBG sold the
project to Clarion Partners in early 2014.
SPECS: The 1.86 million sq. ft. Phase I redevelopment of the Southwest
Waterfront will include 230,000 sq. ft. of office space, 190,000 sq. ft. of retail
space, 872 residential units, 683 hotel rooms, 140,000 sq. ft. of cultural and
entertainment space and 1,475 underground parking spaces.
Image courtesy of Douglas Development Corporation
Image courtesy of The JBG Companies
Fort Totten Square
South Dakota Avenue & Riggs Road, NE
Clark Builders Group
Certified
SPECS: The first phase of the Ft. Totten Square development will deliver 345
apartments, 130,000 sq. ft. of retail space (anchored by a 120,000 sq. ft. urbanformat LEED certified Walmart) and 750 parking spaces.
40
4
Uline Arena
LOCATION: DEVELOPER(S): ARCHITECT(S): CONTRACTOR(S): EST. COST: STATUS: WARD
1140 3rd Street, NE
GTM Architects
James G Davis Construction Corporation
$120 million
Near Term
SPECS: The Uline Arena project will include the adaptive reuse of the
existing 110,000 sq. ft. masonry arena building and adjacent Ice House. The
redevelopment plan calls for 150,000 sq. ft. of office space and 50,000 sq. ft. of
retail space.
6
Visualization by Interface Multimedia
Cathedral Commons
Monroe Street Market
3
3336 & 3400 - 3430 Wisconsin Avenue, NW
Giant Food/Bozzuto Group/Southside
Investment Partners
JCA Architects
Bozzuto Construction
Silver
5
700 - 800 blocks of Monroe Street, NE
Abdo Development/Bozzuto Group/Catholic University
Torti Gallas & Partners/KTGY
Certified
Completed
SPECS: This mixed-use project delivered 57,000 sq. ft. of retail space and 562
apartments in Blocks A1, B and C. Project anchors include The Arts Walk (27
artist studios), Busboys & Poets, Brookland Pint and &pizza. Some portions of
the project started to deliver in 4Q 2013.
SPECS: The former Giant on the site was demolished in 2012 and a new 56,000
sq. ft. store will be built along with an additional 69,000 sq. ft. of retail space and
145 residential units on two separate parcels. The Giant grocery store opened in
November 2014.
Image courtesy of Foulger-Pratt
Twelve12
1212 4th Street, SE
Walsh Construction
Silver
Completed
SPECS: Twelve12 features a 218-unit apartment building above 88,000 sq. ft. of
retail space, including a 50,000 sq. ft. Harris Teeter (November 2014 opening)
and a 28,000 sq. ft. VIDA Fitness.
6
Walmart on Georgia Avenue
WARD
4
LOCATION: 5929 Georgia Avenue, NW
Foulger-Pratt
ARCHITECT(S): Massa Montalto Architects
CONTRACTOR(S): Foulger-Pratt
STATUS: Completed
DEVELOPER(S): SPECS: The former 3.56-acre Curtis Chevrolet dealership was redeveloped into a
106,000 sq. ft. Walmart with approximately 40,000 sq. ft. dedicated to groceries,
348 parking space and 37 bicycle spaces.
41
RETAIL
DEVELOPMENT
Image courtesy of Insight Property Group LLC
Apollo
The Swift
6
610 H Street, NE
SK & I Architectural Design Group LLC
John Moriarty & Associates of Virginia LLC
Silver
LOCATION: DEVELOPER(S): ARCHITECT(S): CONTRACTOR(S): LEED: STATUS: SPECS: The Apollo will be a 431-unit apartment building with 75,000 sq. ft. of
WARD
4
3830 Georgia Avenue, NW
Duball LLC/Safeway
Silver
Completed
SPECS: The former site of a 21,000 sq. ft. Safeway was redeveloped into a new
retail space, anchored by a 39,000 sq. ft. Whole Foods. There will also be 442
underground parking spaces and about 165 bicycle parking spaces.
60,000 sq. ft. Safeway grocery store (June 2014 opening) and 218 apartments. A
two-level underground parking garage was also built on the site. Duball LLC sold
the project to Principal Real Estate Investors for $75 million in July 2014.
Image courtesy of Foulger-Pratt
ART Place at Fort Totten (Phase I)
5180 South Dakota Avenue, NE
Cafritz Foundation
EE&K Architects/MV+A Architects/
Foulger-Pratt
Silver
SPECS: Phase I will deliver 104,000 sq. ft. of retail space (on two levels) and 520
apartments (121 – 141 affordable units) in three buildings.
42
Brentwood Park
5
LOCATION: DEVELOPER(S): LEED: STATUS: WARD
5
Rhode Island Avenue, NE & 4th Street &
Edgewood Street, NE
Mid-City Financial Corporation
Silver
Long Term
SPECS: The 20-acre site that currently encompasses the Brentwood Village
Shopping Center and the 535-unit Brookland Manor (Section 8 Housing) will be
redeveloped into a mixed-use neighborhood with 200,000 sq. ft. of retail space
and 2,200 residential units (20% affordable).
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Pepco DC Econ Part Ad:Layout 1
9/12/13
9:40 AM
Page 1
ENERGY CREATES
OPPORTUNITIES
We're proud to support the
Washington, D.C. Economic Partnership.
COMING 2017
At the intersection of First and L streets, NE, Storey Park will be at the center of NoMa in every way.
RESIDENTIAL
45
residential
Residential Development in the District of Columbia
DC continues to see robust
population growth, while the
share of young professionals has
grown at an even faster pace.
DC RESIDENTIAL MARKET SNAPSHOT
TOTAL HOUSEHOLDS1
283,172
UNITS UNDER CONSTRUCTION
11,937
The District of Columbia has recorded strong prospects
for expansion in the residential real estate market due
to its population, employment, and income growth.
DC continues to see robust population growth, while
the share of young professionals has grown at an
even faster pace.
Between 2012 and 2013, DC’s population increased
2.1% to 646,500, while the 25 to 44 year old cohort
expanded by 3.5% to 235,800. During the same time
period, the labor market in DC observed overall
growth, albeit at a slower pace. DC added 10,400
jobs in 2013, an increase of 1.4%. Meanwhile, the
1. District of Columbia Economic & Revenue Trends (October 2014)
2. District of Columbia Economic & Revenue Trends/Delta Associates (October 2014)
CONDOS UNDER CONSTRUCTION
1,425
MARKET RATE APARTMENT
NET ABSORPTION2 (4Q13–3Q14)
2,731
unemployment rate continued along a downward
trajectory, dropping 90 basis points over the year to
8.3% in 2013.
The median home sales price in DC rose 3.0%
over the year from $461,000 in August 2013 to
$475,000 in August 2014. Meanwhile, according
to a report by CoreLogic, DC observed a 7.1%
increase in foreclosure activity between September
2013 and September 2014. During the same month,
DC recorded the 9th highest share of homes in
foreclosures among U.S. states, at 2.3% of inventory.
Residential Development
DC POPULATION GROWTH RATE (year-over-year)
5.0%
5%
Age 25–44
DC Population
4.5%
4%
4.2%
3.5%
3.2%
3%
2.1%
2%
1.0%
2.2%
2.4%
2.2%
2.1%
1.4%
1%
0.00
2008
2009
2010
Looking ahead, the population, employment, and income
of the region are forecast to grow. DC is projected to see its
population increase by 10.2% between 2014 and 2019, while
median household income is projected to rise by 15.0% to
$77,143 during the same time frame.3 According to Moody’s
Analytics, total metropolitan employment as well as officeusing employment is expected to gain traction between 2015
and 2017.
DC Apartment Size
The average size of a one-bedroom apartment in DC has been
on a downward trajectory over the past decade. While the
previous unit average was approximately 850 sq. ft. through the
early 2000s, this figure has dropped to around 725 to 750 sq. ft.,
excluding the new phenomenon of micro-units. Renters have
become more interested in assessing the total monthly rent,
rather than the quoted rent per sq. ft. Moreover, the size of
apartments is a function of both the proximity to the Metrorail
as well as the overall monthly rent.
DC Supply and Absorption
There are approximately 12,000 units set to deliver in the next
36 months in DC, compared to about 10,000 units during the
same time last year.4 Though most new product is concentrated
in new markets—including Capitol Riverfront, H Street, Mt.
Vernon Triangle and NoMa—the developed markets continue
to see new projects coming online. Given the recent surge in
DC’s population, absorption has remained stable.
2011
2012
2013
DC Average Rents per Neighborhood
According to Axiometrics, the Downtown-Logan Circle
neighborhood had the highest asking and net effective rents
during Q3 2014 at $2,498 and $2,474, respectively. Meanwhile,
the Howard University-Mt. Pleasant-Brightwood neighborhood
had the highest occupancy rate at 97.2%, followed closely behind
by Capitol Hill-SW with 97.1% occupancy. Brookland-Ft. Totten,
located in northeast DC, observed the lowest asking and effective
rents, while Anacostia-NE DC recorded the lowest occupancy
rate of 93.0%. ¾
APARTMENT RENTAL RATES (Q3 2014)
ASKING RENT
EFFECTIVE
RENT
OCCUPANCY
RATE
Anacostia-NE DC
$1,755
$1,738
93.0%
Brookland- Ft. Totten
$1,675
$1,655
96.3%
Capitol Hill-SW
$1,954
$1,951
97.1%
Downtown-Logan Circle
$2,498
$2,474
95.7%
Dupont- Adams Morgan
$2,004
$1,999
96.8%
Howard UniversityMt. Pleasant-Brightwood
$1,815
$1,767
97.2%
NW DC- Georgetown
$1,948
$1,940
94.3%
Woodley Park- Cleveland Park- Van Ness
$2,190
$2,176
96.0%
NEIGHBORHOOD
Source: Axiometrics
3. Nielson
4. Washington, DC Economic Partnership
47
T
6T
HS
NORTH CAPITOL ST
1ST ST
FL
OR
ID
K ST
I ST
AA
VE
MO
R
SE
ST
Apollo
H ST
13TH ST
12TH ST
11TH ST
E
AV
F ST
1ST ST
map not to scale
H STREET, NE
1ST ST
EE
AV
E
Stanton
Square
specific nodes, with an arts and entertainment district on the
east end (anchored by the Atlas Performing Arts Center–2005
opening), residential on the western end and a heavy
concentration of retail in the middle (Whole Foods set to open
in 2016/2017).
The vision for the development that is occurring today can be
traced back to the 2004 H Street NE Strategic
Development
INDEPENDENCE AVE
Plan. The plan recommended the corridor be developed around
H
RT
NO
CA
C ST
4
-
UNDER CONSTRUCTION
6
1,335,300
-
-
D ST
E ST
Retail SF
829
42,700
1,238
111,700
Market
M
647,175
-
-
623
84,600
3,028,975
-
-
2,690
239,000
HALF ST
400
2ND PL
2ND ST
1,500,000
1,500,000
1,300
K ST
3,990
L ST
138
100,000
44
0
0
0
16
K ST
2007 2008 2009 2010 2011 2012 2013 2014* 2015* 2016*
339,000
L ST
*projections based on projects under construction (as of September 2014)
M
M ST
Navy Yard
1ST ST
DELA
WAR
E AV
E
N ST
E
Y AV
48
5,943,975
400
M Potomac Ave
I ST
I ST
4TH ST
ERSE
18
2,915,000
E ST
215
395
PIPELINE (BURNHAM PLACE AT UNION STATION)
D ST
484
8TH ST
J
NEW
SOUTH CAPITOL ST
17
St
C ST
738
Condo
G ST
TOTALS
GRAND TOTAL
Rental
432
7
1
UTH
Unit deliveries bySOyear
PIPELINE
T
VE
AA
N
OLI
H Eastern
STREET RESIDENTIAL
CAR
VE
YA
Capitol
South 1,046,500
COMPLETED (SINCE 2007)
W
M
Office SF
K
UC
Total SF
Residential
Units
NT
KE
Projects
Hotel
Rooms
14TH ST
R
C ST
AV
E
16TH ST
Lincoln
Park
As of September 2014 829 new residential units had been built
since 2007 within two blocks of H Street, withManother 1,238 units
AS
SA to delivery
(90% apartments) under construction and anticipated
CH
US
ET
by late 2016 or early 2017. Average asking rents for new rental
TS
E
AV
V
A
E
A
product
is
expected
to
be
more
than
$3
per
sq.
ft.
IN
L
O
15TH ST
TE
NN
ES
S
The H Street, NE corridor is about one mile in length from the
AVE
Hopscotch Bridge to the intersection ofCONSTITUTION
H Street, Maryland
Avenue, Bladensburg Road and Benning Road. It is anchored
to the west by Union Station, a multimodal transportation hub,
which attracts 32 million visitors and passengers each year. In
addition the corridor will be serviced by the H Street/Benning
EAST CAPITOL ST
Road streetcar.
14TH ST
Plaza
7TH ST
A
SI
UI
LO
8TH ST
E
AV
G
TO
N
10TH ST
ND
LA
RY
A
M
The Maryland
E ST
Union
A
Development
Summary
N
Station
W
AS
HI
N
G ST
6TH ST
5TH ST
2ND ST
2ND ST
Union
Station
Atlas
Arts
Center
Woolworth
625 H
9TH ST
Burnham
Place
M
AV
E
4TH ST
TT
S
Station
House
3RD ST
HU
SE
HO
LB
RO
OK
ST
NE
AL
ST
L ST
SA
C
H Street, NE
AV
E
SPOTLIGHT
TR
IN I
DA
D
RESIDENTIAL
AV
E
Noma/Gallaudet U
LO
M
MO
NT
EL
E
AV
RK
YO
5T
HS
T
4
1ST ST
N ST
295
TINGEY ST
i
R
ia
RESIDENTIAL DEVELOPMENT (September 2014, units)
GROUNDBREAKINGS
2000
2,272
Rental
3,538
2002
2004
2,390
2,531
2005
2007
2008
2009
1,460
753
240
758
2006
4,365
1,767
2,817
2005
5,837
3,020
2,598
3,575
1,700
3,524
2011
5,004
2012
2013
2014
YTD
3,454
1,399
499
5,672
4,384
4,099
748
911
5,503
556
2,584
2008
2,564
1,574 369
1,718
912
3,428
3,633
482
3,910
3,913 567 4,480
2014*
5,010
4,282
1,943
2013
5,132
5,133
1,909
2012
6,228
3,983
2,586
2,721
1,385 524
4,665
3,956
2,128
2,547
2011
635 4,089
1,837
1,828
2007
2010
3,970
446
3,511
591
2,828
2009
173 926
2010
2,920
2004
3,535
2,670
920
2003
4,014
2,817
2006
1,750
2002
6,052
1,914
1,624
1,004
2001
4,686
1,148
4,138
2003
H.O.
H.O. (projected)
2,558
286
2001
Rental
Rental (projected)
COMPLETED
HO
4,499
2015*
3,830
2016*
2,660
42
129
2,161
1,483
119 6,908
5,313
2,702
RESIDENTIAL DEVELOPMENT (September 2014)
PROJECTS
SQ. FT.
UNITS2
APTS
H.O.3
CONDOS
501
29
32
47
47
45
46
50
41
35
21
22
30
35
21
53,330,182
2,837,032
3,750,300
3,936,855
4,630,970
4,170,870
4,340,551
5,825,803
4,229,734
3,589,130
2,186,187
1,899,277
3,983,523
3,746,803
4,203,147
52,792
2,670
3,511
4,089
4,665
3,956
3,983
5,133
4,282
3,633
1,909
1,943
3,910
4,480
4,628
36,810
1,750
2,920
3,454
2,828
1,828
1,399
2,547
2,564
2,721
1,385
1,574
3,428
3,913
4,499
15,982
920
591
635
1,837
2,128
2,584
2,586
1,718
912
524
369
482
567
129
12,725
409
173
546
1,640
2,061
2,335
2,083
1,649
718
146
269
173
463
60
87
22
48
14
3
10,985,135
2,011,987
4,781,021
2,726,127
1,466,000
11,937
2,280
5,313
2,702
1,642
10,072
2,161
3,830
2,660
1,421
1,865
119
1,483
42
221
1,425
119
1,085
Pipeline
Near Term
Medium Term
Long Term
202
63
69
70
51,101,537
7,532,460
8,276,012
35,293,065
52,874
8,826
8,790
35,258
21,671
6,406
5,791
9,474
5,532
1,190
1,038
3,304
4,566
1,076
671
2,819
TOTAL
790
115,416,854
117,603
68,553
23,379
18,716
Completed
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014 YTD
Under Construction
2014 delivery
2015 delivery
2016 delivery
2017+ delivery
221
1. projections based on targeted delivery dates of projects under construction as of September 2014 2. apartments & homeownership may not total to residential units due to lack of information for pipeline
projects 3. includes condo, single-family, co-op and other for-sale units
49
DEVELOPMENT MAP
RESIDENTIAL
25
16
19
E
AV
14TH ST.
UT
GEORGIA AVE
TIC
EC
NN
CO
ROCK
CREEK
PARK
4 26
15
U ST.
GE
6
R
VE
DA
29
LAN
E IS
D
HO
GE
W
AS
HI
10
N
M
E
AL
RI
O
M
Y
W
PK
7
5
12
27
1
VIRGINIA
9
3
66
VE
KA
OR
WY
NE
OR
30
11
2
17 13 18
H ST.
UNION
STATION
8
E. CAPITOL ST.
NATIONAL MALL
VIRGINIA
U.S. CAPITOL
28
20
21
14
FORT DUPONT
PARK
22
NATIONALS
PARK
23
M
395
JR.
AV
E.
M
1
M
M NATIONAL
AIRPORT
Alexandria
Completed
Under Construction
Pipeline
G
TO
N
24
PROJECT
WARD LOCATION
DEVELOPER(S)
UNITS
TYPE1
EST. VALUE
($M)2
DELIVERY
TOP RESIDENTIAL PROJECTS COMPLETED (4Q 2013–3Q 2014)
1
CityCenterDC
2
674
Apt/HO
$700
4Q 13
2
Camden NoMa
6
60 L St., NE
Camden Property Trust
321
Apt
$100
4Q 13
3
77 H
6
1st & H Sts., NW
303
Apt
$90
4Q 13
4
Monroe Street Market
5
700 - 800 blocks of Monroe St., NE
Abdo Development/Bozzuto Group/Catholic University
562
Apt
$150
2Q 14
5
CityMarket at O Street (Ph I)
6
1400 7th St., NW
Roadside Development/Dantes Partners
497
Apt
$265
2Q 14
6
The Louis at 14th
2
1420 U St., NW
The JBG Companies/Georgetown Strategic Capital LLC
268
Apt
$100
2Q 14
7
Elevation at Washington
Gateway
5
MRP Realty
400
Apt
$130
3Q 14
8
Park 7
7
Minnesota Ave. & Benning Rd., NE
Donatelli Development/Blue Skye Development LLC
376
Apt
$60
3Q 14
9
2 M Street
6
North Capitol & M Sts., NE
WC Smith/Warrenton Development Group
314
Apt
$95
3Q 14
6
1550 7th St., NW
The Jefferson Apartment Group
281
Apt
$80
3Q 14
10 Jefferson at Market Square
TOP RESIDENTIAL PROJECTS UNDER CONSTRUCTION
11
Fairway Park Apartments
5
21st, 22nd St. and Maryland Ave., NE
WC Smith/Enterprise Community Partners
406
Apt
$54
4Q 14
12
415 L Street
6
415 L St., NW
Steuart Investment Company/Paradigm
Development
393
Apt
$100
4Q 14
13
Station House
6
701 2nd St., NE
Fisher Brothers
375
Apt
$100
1Q 15
14
Park Chelsea
6
880 New Jersey Ave., SE
WC Smith
429
Apt
$150
2Q 15
15
Atlantic Plumbing (Parcel
A & B)
1
2030 & 2112 8th St., NW
The JBG Companies/Walton Street Capital
372
Apt/HO
$124
2Q 15
16
Fort Totten Square
4
South Dakota Ave. & Riggs Rd., NE
345
Apt
$120
2Q 15
17
Camden NoMa (Ph II)
6
60 L St., NE
Camden Property Trust
406
Apt
$130
1Q 16
18
Apollo
6
610 H St., NE
431
Apt
$190
4Q 16
19
ART Place at Fort Totten (Ph I)
5
5180 South Dakota Ave., NE
Cafritz Foundation
520
Apt
$117
2Q 17
20
The Wharf (Ph I)
6
872
Apt/HO
$806
4Q 17
TOP RESIDENTIAL PROJECT PIPELINE (Near Term)
21
1001 4th Street
6
4th & K Sts., SW
Waterfront Associates/Forest City Washington/
Vornado/CES
365
Apt
22
Ballpark Square
6
1st & N Sts., SE
Grosvenor USA/McCaffery Interests
325
Apt
$150
2016
23
The Riverfront
6
100 Potomac Ave., SE
FRP Development Corporation/MRP Realty
321
Apt
$100
2016
24
7
58th & East Capitol Sts., NE
A&R Development/DCHA/Henson Development Co.
304
Apt
$120
2016
25
Georgia Eastern
4
220
Apt
26
Arcadia at Brookland Station
5
901 Monroe St., NE
The Menkiti Group/Horning Brothers
213
Apt
$50
2016
27
West End Square 37
2
24th & L Sts., NW
EastBanc/Dantes Partners/Warrenton Dev. Group
164
Apt/HO
$150
2016
28
6
Stanton Development Corp./EastBanc/Dantes
Partners/Jarvis Co.
156
HO
$190
2016
29
Rhode Island Avenue
Gateway
5
2313 - 2321 4th St., NE
H Street CDC/E&G Group
116
Apt
$37
2016
30
Gateway Market
5
LCOR Incorporated/EDENS
188
Apt
$55
2017
2016
2016
1) APT = rental; HO = home ownership/condos 2) may include non-residential components ($ in millions);
3) delivery date may reflect phase I delivery or final phase delivery
51
RESIDENTIAL
DEVELOPMENT
Image courtesy of Community Three Development
The Harper
WARD
1
1011 M Street
WARD
Level 2 Development/Keener & Squire Properties
ARCHITECT(S): Eric Colbert & Associates PC
CONTRACTOR(S): Grunley Construction
STATUS: Completed
LOCATION: DEVELOPER(S): DEVELOPER(S): SPECS: The Harper is a seven-story, 144-unit apartment building with 6,000 sq.
SPECS: An existing parking lot on the northeast corner of 11th & M Streets will
2
1011 M Street, NW
Community Three Development
ARCHITECT(S): Torti Gallas & Partners
STATUS: Near Term
ft. of ground floor retail. Units feature studios and one-bedrooms and range in
size from 350 - 600 sq. ft.
be transformed into a six-story building with 71 condominium units (550 – 1,400
sq. ft.) and 4,100 sq. ft. of retail space. A sheeting & shoring permit was issued in
October 2014.
Image courtesy of The JBG Companies
Atlantic Plumbing (Parcel A & B)
WARD
1
2030 & 2112 8th Street, NW
The JBG Companies/Walton Street Capital
ARCHITECT(S): Morris Adjmi Architects/Eric Colbert & Associates PC
CONTRACTOR(S): HITT Contracting
Park 7
LOCATION: LOCATION: DEVELOPER(S): DEVELOPER(S): SPECS: Parcels A & B of the former Atlantic Plumbing site will be redeveloped
into two mixed-use buildings totaling 310 apartments, 62 condos and 23,700 sq.
ft. of retail space. The retail will be anchored by a six-screen Landmark Theater
and seven art studios.
52
WARD
7
Minnesota Avenue & Benning Road, NE
Donatelli Development/Blue Skye Development LLC
ARCHITECT(S): Eric Colbert & Associates PC
CONTRACTOR(S): Blue Skye Construction LLC/
McCullough Construction LLC
STATUS: Completed
SPECS: The five-acre site (previously vacant), located adjacent to the Minnesota
Avenue Metrorail Station, was redeveloped into 376 apartments and 22,000 sq. ft.
of retail space.
Image courtesy of the Peterson Companies
Image courtesy of BF Saul
Park Van Ness
WARD
3
4455 Connecticut Avenue, NW
BF Saul
Ontario 17
LOCATION: LOCATION: DEVELOPER(S): DEVELOPER(S): SPECS: Park Van Ness will replace a seven-story office and retail building with an
11-story residential building with 271 apartments, 10,000 sq. ft. of retail space and
224 underground parking spaces.
WARD
1
2550 17th Street, NW
Peterson Companies
ARCHITECT(S): Eisen Group
CONTRACTOR(S): Ellisdale Construction & Development
STATUS:
Under Construction
SPECS: The former site of the Ontario Theater at the corner of 17th & Columbia
Road is being redeveloped into 80 condominium units and 9,000 sq. ft.
of retail space.
Image courtesy of MissionFirst HDC
Trinity Plaza
WARD
8
Lyric
WARD
LOCATION: Atlantic & South Capitol Streets, SW
Far SW-SE CDC/MissionFirst HDC
ARCHITECT(S): Grimm + Parker & Associates
CONTRACTOR(S): Hamel Builders
LEED: Silver
EST. COST:
$17 million
LOCATION: DEVELOPER(S): DEVELOPER(S): SPECS: Trinity Plaza will be a new development consisting of 49 affordable rental
ft. of retail space in early 2014. Baked & Wired will open a 4,231 sq. ft.
cafe/bakery in 2015.
units and 6,000 sq. ft. of retail space.
6
440 K Street, NW
The Wilkes Company/Quadrangle Development
ARCHITECT(S): Davis, Carter, Scott Ltd
CONTRACTOR(S): HITT Contracting Inc
STATUS:Completed
SPECS: 440 K Street delivered 234 market rate apartments and 9,500 sq.
53
RESIDENTIAL
DEVELOPMENT
Sky House I & II
WARD
The Colonel
6
WARD
LOCATION: 1150 & 1151 4th Street, SW
Urban Atlantic/The JBG Companies
ARCHITECT(S): Wiencek + Associates Architects + Planners
LEED: Gold
STATUS: Completed/Under Construction
TARGETED DELIVERY: 2Q 14 - 4Q 14
LOCATION: DEVELOPER(S): DEVELOPER(S): SPECS: Sky House I and II convereted two office buildings into apartment units.
Each building consists of 264 apartments with Sky House I (1150 4th Street, SW)
delivering in 2Q 2014 and Sky House II (1151 4th Street, SW) scheduled to open
in 4Q 2014.
SPECS: The Colonel will be a 70-unit apartment building with 8,200 sq. ft.
2
1250 9th Street, NW
CAS Riegler/Douglas Development Corporation/
City Interests
ARCHITECT(S): PGN Architects PLLC
CONTRACTOR(S): Donohoe Companies
ground-floor retail space at the corner of 9th & N Streets, NW. The project
incorporates an existing 1923 apartment building on the site.
Image courtesy of H Street CDC
Takoma Central
WARD
4
2321 4th Street
LOCATION: 235 - 255 Carroll Street, NW
Level 2 Development/Federal Capital Partners
ARCHITECT(S): SGA Companies
LEED: Silver
EST. COST:
$38 million
LOCATION: DEVELOPER(S): DEVELOPER(S): SPECS: Takoma Central will consist of 150 apartments and 9,500 sq. ft. of retail
into 116 affordable residential units and 5,100 sq. ft. of retail space.
space. A 6,500 sq. ft. Busboys and Poets will anchor the retail space.
54
WARD
5
2321 4th Street, NE
H Street CDC/E&G Group
ARCHITECT(S): Bonstra|Haresign Architects
CONTRACTOR(S): Harkins Builders Inc
STATUS:
Near Term
SPECS: The vacant site near 4th and Rhode Island Avenue, NE will be developed
Image courtesy of WDG
Gallery at Capitol Riverfront
1421 Euclid Street
6
1111 New Jersey Avenue, SE
Donohoe Companies
WDG
Donohoe Construction
Silver
WARD
1
LOCATION: 1421 Euclid Street, NW
Dantes Partners/The Menkiti Group
ARCHITECT(S): Grimm + Parker & Associates
CONTRACTOR(S): Hamel Builders/Capital Construction Enterprises
STATUS: Completed
DEVELOPER(S): SPECS: The vacant site adjacent to the Navy Yard Metorail Station will be
SPECS: 1421 Euclid Street is a five-story, 28-unit affordable apartment community,
developed into a 13-story, 342-unit apartment building with about 11,000 sq. ft. of
retail space.
located on the former Justice Park site.
Image courtesy of Roadside Development
Image courtesy of R2L Architects PLLC
82 Eye Street
WARD
6
1336 8th Street
WARD
LOCATION: 82 I Street, NW
Greystar Development/RCP Development Company
ARCHITECT(S): R2L Architects PLLC
CONTRACTOR(S): Moriarty
STATUS: Near Term
LOCATION: DEVELOPER(S): DEVELOPER(S): SPECS: Plans call for a 220 to 234-unit residential building with the potential for
SPECS: Plans call for 70 condominiums and 6,900 sq. ft. of retail space.
4,000 to 8,000 sq. ft. of retail space.
2
8th & O Streets, NW
ARCHITECT: Shalom Baranes Associates
LEED: Gold
STATUS: Medium Term
The project was awarded to the development team in September 2014
by the DC government.
55
RESIDENTIAL
DEVELOPMENT
The Villages at Dakota Crossing (Phase III)
WARD
5
LOCATION: Fort Lincoln Drive & Commodore Joshua
Barney Drive, NE
DEVELOPER(S): Fort Lincoln New Town Corporation
CONTRACTOR(S): Ryan Homes
STATUS:
Under Construction
City Homes at the Hampshires & Towns of Hampshires
WARD
6000 New Hampshire Avenue, NW
Four Points LLC/Comstock Homes
ARCHITECT(S): Franck & Lohsen
STATUS:
Under Construction
TARGETED DELIVERY: 2013 - 2015
DEVELOPER(S): SPECS: The 11-acre site surrounding the former Medstar Nursing Home is being
developed into 38 single family dwellings (up to 2,700 sq. ft.) and 73 townhomes
(1,800 – 1,900 sq. ft.). Residents started to move into the single-family homes in
early 2013.
SPECS: The Villages at Dakota Crossing consists of 322 townhome and
townhome-style condominiums ranging from 1,680 - 3,024 sq. ft. in size. Phase
III consists of 167 units and is part of the 362-acre Fort Lincoln New Town
mixed-use urban renewal area.
WARD
6
Elevation at Washington Gateway
WARD
The Jefferson Apartment Group
ARCHITECT(S): Lessard Design
CONTRACTOR(S): SE Foster Construction Company
STATUS:Completed
LOCATION: DEVELOPER(S): DEVELOPER(S): SPECS: The former Kelsey Gardens site was redeveloped into an eight-story, 281
SPECS: Phase I of the three-acre, 1.0 million sq. ft. Washington Gatway project
mixed-income apartment building with 13,400 sq. ft. of retail space.
56
4
LOCATION: Jefferson at Market Square
100 Florida Avenue, NE
MRP Realty
ARCHITECT(S): SK & I Architectural Design Group LLC
STATUS:Completed
delivered 400 apartments and 5,200 sq. ft. of retail space. Union Social will
occupy the entire retail/restaurant space.
5
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HOSPITALITY
59
hospitality
Hospitality Development in the District of Columbia
Since 2001, the average hotel
occupancy rate for DC has
fluctuated between 69% and
76% and remained consistently
between 74% to 76% since 2008.
DC HOSPITALITY MARKET SNAPSHOT
ANNUAL VISITORS 1
HOTEL ROOMS 2
19.0 million
~29,000
HOTEL OCCUPANCY RATE1
AVG. DAILY ROOM RATE1
76%
$209
The opening of the 1,175-room Marriott Marquis in
May 2014 was a watershed moment for the DC hotel
and hospitality sector. The hotel by itself represents
the largest number of net new rooms to deliver to the
market in any given year since the WDCEP began
tracking development projects in 2001.
Since 2001, the average hotel occupancy rate for DC
has fluctuated between 69% and 76%. Even with the
addition of 848 net new hotel rooms to the market
since the beginning of 2008, the DC occupancy rate has
remained consistent ranging from 74% to 76%1.
Given DC’s market stability hotel developers appear
to be undeterred by the opening of the Marriott
Marquis as there are another 2,320 hotel rooms under
construction and scheduled to deliver by 2017. These
10 projects will add 1,908 new rooms to the market.
In addition, there are another four hotel projects
that could break ground in the next six to 12 months,
representing an additional 1,314 net new rooms.
1. DestinationDC (2013 Visitor Statistics) 2. REVPAR
3. Opened a three-screen pop-up theater in 2014 at Union Market
While hotel projects make up the majority of the
hospitality development sector, there were several
notable non-hotel groundbreakings in the past year.
The construction of the 47,000 sq. ft. Barry Farm
Recreation Center started in Q4 2013 (site demolition
started in Q2 2013), the new Williams Arena at the
Southeast Tennis and Learning Center broke ground
in Q2 2014 (phase I delivered in Q4 2014) and the $800
million Museum of the Bible started the renovation of
300 D Street, SW in Q3 2014. ¾
NOTABLE THEATERS Entering/Expanding in DC
THEATER
SCREENS
NEIGHBORHOOD
TARGET OPENING
Angelica Film Center
8
Union Market
2016/2017
Landmark Theaters
6
14th & U Streets/
Shaw
2015
Landmark Theaters
10
NoMa
2016/2017
Showplace Icon
16
Capitol Riverfront
TBD
3
HOTEL PROJECTS (September 2014, rooms)
GROUNDBREAKINGS
2000
Projected
COMPLETED
237
2001
2002
2005
895
515
2004
500
1,106
754
538
2008
1,991
2,159
2009
544
2010
2013
490
2007
962
2008
2012
2003
2006
2,053
2007
2011
1,416
2005
550
2006
2009
411
2002
1,007
2003
2004
2001
925
1,324
2011
659
2012
594
2013
608
2014
YTD
1,035
2010
1,614
204
356
426
20141
1,712
2015
1
2016
1
1,795
1,039
598
HOSPITALITY DEVELOPMENT (September 2014) 2
PROJECTS
SQ. FT.
ROOMS
NET NEW ROOMS
166
11
17
16
13
16
14
7
10
12
12
9
9
11
9
16,858,596
683,718
931,600
3,106,707
1,776,381
1,089,564
1,009,386
758,500
3,162,093
820,746
1,052,328
241,255
163,985
498,070
1,564,263
12,804
411
1,416
490
500
1,106
754
538
2,159
1,035
1,614
204
356
426
1,795
4,831
175
409
86
400
890
238
-10
132
207
305
1,795
Under Construction
2014 delivery
2015 delivery
2016 delivery
2017 delivery
22
1
13
6
2
2,924,757
48,000
1,017,900
783,357
1,075,500
2,320
1,908
1,039
598
683
627
598
683
Pipeline
Near Term
Medium Term
Long Term
73
21
23
29
5,373,800
1,063,449
2,006,455
2,303,896
4,850
1,207
1,514
2,129
4,480
1,207
1,514
1,759
261
25,157,153
19,974
11,219
Completed
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014 YTD
TOTAL
204
1,908
net new rooms added to
the market by 2017
1. projections based on targeted delivery dates of projects under construction as of September 2014 2. includes community, entertainment, museum and hotel projects
61
DEVELOPMENT MAP
HOSPITALITY
E
AV
14TH ST.
UT
GEORGIA AVE
TIC
EC
NN
CO
ROCK
CREEK
PARK
21
U ST.
VE
DA
LAN
E IS
OD
RH
GE
OR
GE
W
AS
HI
N
9
M
E
AL
RI
O
M
Y
W
PK
8
24 25
16
6
30 27 26
12
14
VIRGINIA
3
66
15
NE
H ST.
UNION
1 STATION
18
NATIONAL MALL
VIRGINIA
7
13
23
VE
KA
OR
WY
5
E. CAPITOL ST.
10
U.S. CAPITOL
20
4
19
FORT DUPONT
PARK
22
17
NATIONALS
PARK
M
29
395
JR.
AV
E.
M
1
M
M NATIONAL
AIRPORT
Alexandria
Completed
Under Construction
Pipeline
G
TO
N
11
2
28
PROJECT
WARD LOCATION
DEVELOPER(S)
HOSPITALITY SF ROOMS
EST. VALUE
($M)1 DELIVERY2
TOP HOSPITALITY PROJECTS COMPLETED (4Q 2013–3Q 2014)
1
Central Union Mission
6
Central Union Mission
34,000
2
Eagle Center (Ph II)
8
3400 Wheeler Rd., SE
Eagle Academy Public Charter School
27,000
3
House of Lebanon
5
27 O St., NW
Urban Matters Development Partners/MissionFirst HDC/
Mount Lebanon CDC
10,000
$23
4Q 13
4
Nationals Youth Baseball Academy
7
3675 Ely Pl., SE
DC Government/Washington Nationals Dream
Foundation
15,000
$18
1Q 14
5
Northeast Neighborhood Library
6
330 7th St., NE
DC Public Library
14,900
$11
1Q 14
6
Marriott Marquis
2
Quadrangle/Capstone Development/ING Clarion/Marriott
1,076,363
1,175
$520
2Q 14
7
Hyatt Place Hotel
6
New York Ave. & North Capitol Morgan Stanley/The JBG Companies/MacFarlane
St., NE
Partners
125,000
200
$40
2Q 14
8
Hilton Garden Inn
2
2201 M St., NW
Perseus Realty/OTO Development LLC/
Starwood Capital Group
115,000
238
$33
2Q 14
9
CityMarket at O Street (Cambria
Suites)
6
1400 7th St., NW
113,000
182
$265
2Q 14
10
Arts & Industries Building
2
900 Jefferson Drive, SW
Smithsonian Institution
102,000
$55
2Q 14
$18
4Q 14
$40
1Q 15
$12
4Q 13
4Q 13
TOP HOSPITALITY PROJECTS UNDER CONSTRUCTION
11
Williams Arena
8
701 Mississippi Ave., SE
DC Dept. of Parks & Recreation/Dept. of General Services
48,000
12
Hyatt Place
2
1522 K St., NW
Songy Partners
91,000
164
13
Homewood Suites & Hampton Inn
5
501 New York Ave., NE
Baywood Hotels
160,000
230
14
The Watergate
2
2650 Virginia Ave., NW
Euro Capital Properties
265,000
348
15
National Museum of AfricanAmerican History & Culture
2
The National Mall
322,600
16
Homewood Suites
2
465 New York Ave., NW
IBG Partners LLC/Magna Hospitality
103,000
160
2Q 16
17
Hampton Inn & Suites
Washington, DC Ballpark
6
1st & N Sts., SE
Buccini Pollin Group
98,000
168
3Q 16
18
Trump International Hotel (Old
Post Office)
2
1100 Pennsylvania Ave., NW
Trump Hotel Collection
536,000
270
19
The Wharf (Ph I)
6
645,500
683
20
Museum of the Bible
6
300 D St., SW
Museum of the Bible
430,000
2Q 15
$85
3Q 15
$309
4Q 15
$200
4Q 16
$806
4Q 17
$800
4Q 17
TOP HOSPITALITY PROJECT PIPELINE (Near Term)
21
The Line DC
1
1780 Columbia Rd., NW
Adams Morgan Church Hotel LLC/Friedman Capital
Advisors LLC/Foxhall Partners/Sydell Group
176,671
220
$100
2016
22
Ballpark Square
6
1st & M Sts., SE
Grosvenor USA/McCaffery Interests
125,600
170
$150
2016
23
South Building
5
1325 5th St., NE
EDENS
38,000
24
West End Square 37
2
24th & L Sts., NW
EastBanc Inc/Dantes Partners/Warrenton Development
Group
20,000
25
Hyatt Place Hotel
2
2121 M St., NW
Renaissance Centro
26
5th & Eye
6
901 5th St., NW
Peebles Corporation/MacFarlane Partners
27
The H Street Hotel
2
627 - 631 H St., NW
Modus Hotels
28
THE ARC (Ph III)
8
18th St. & Mississippi Ave., SE WC Smith/Building Bridges Across the River
29
DC United Stadium
6
1st St. & Potomac Ave., SW
DC United/DC Government
30
CityCenterDC (Conrad Hotel)
2
10th & New York Ave., NW
Hines
2016
168
100,000
198
36,750
245
34,000
270,308
$150
2016
$37
2016
2017
2017
$20
2017
$287
2017
370
2018
1. may include non-hospitality components ($ in millions) 2. delivery date may reflect phase I delivery or final phase delivery for pipeline projects
63
HOSPITALITY
CityMarket at O Street (Cambria Suites)
LOCATION: DEVELOPER(S): ARCHITECT(S): CONTRACTOR(S): LEED: STATUS: Development Highlights
DEVELOPMENT
WARD
Marriott Marquis
6
1400 7th Street, NW
Shalom Baranes Associates/Lee and Associates Inc
Silver
Completed
LOCATION: DEVELOPER(S): ARCHITECT(S): CONTRACTOR(S): LEED: STATUS: SPECS: Phase I includes 87,000 sq. ft. of retail space, anchored by a 75,000 sq. ft.
Giant Food grocery store (4Q 2013 opening), 497 residential units, a 182-room
Cambria Suites Hotel (2Q 2014 opening) and about 490 parking spaces. Phase II
calls for 145 residential units.
WARD
2
Quadrangle Development/Capstone Development/
ING Clarion/Marriott
Thompson Ventulett Stainbeck/Cooper Carry Inc/
Lee and Associates
Hensel Phelps Construction Company
Silver
Completed
SPECS: The new 1.1 million sq. ft. hotel includes 1,175 rooms, 25,000 sq. ft. of
retail, 100,000 sq. ft. of meeting space and a 30,000 sq. ft. Grand Ballroom, two
10,800 sq. ft. junior ballrooms and 53,000 sq. ft. of additional meeting rooms.
Image courtesy of 11th Street Bridge Park
Image courtesy of EDENS
Union Market (South Building)
WARD
5
1325 5th Street, NE
EDENS
STATUS: Medium Term
Anacostia Crossing
LOCATION: LOCATION: DEVELOPER(S): DEVELOPER(S): SPECS: The redevelopment plan calls for a 38,000 – 42,000 gross sq. ft. Angelika
theater built above the existing Market building (home to 40+ artisanal vendors)
and 104,000 – 112,000 gross sq. ft. of office or residential space to be built above
the theater.
64
WARD
6&8
11th Street Bridge
11th Street Bridge Park
ARCHITECT(S): OMA/Olin
STATUS:
Medium Term
TARGETED DELIVERY:2018
SPECS: The 11th Street Bridge Park is designed to connect the two communities
on each side of the Anacostia River. The project will build new spans using
the previous piers that supported the former 11th Street Bridge. The park is
envisioned to include outdoor performance spaces, playgrounds, fruit orchards,
classrooms to teach students about river systems, and kayaks and paddle boats.
Hyatt Place Hotel
WARD
Barry Farm Recreation Center
6
8
WARD
LOCATION: New York Avenue & North Capitol Street, NE
Morgan Stanley/The JBG Companies/
MacFarlane Partners
ARCHITECT(S): Shalom Baranes Associates/Cooper Carry Inc
CONTRACTOR(S): Whiting-Turner Contracting Company
LEED: Silver
STATUS: Completed
LOCATION: DEVELOPER(S): DEVELOPER(S): 1230 Sumner Road, SE
Department of General Services/
DC Department of Parks & Recreation
CONTRACTOR(S): Whiting-Turner Contracting Company
LEED: Silver
SPECS: Phase I of the 2.0 million sq. ft. N Street NoMa development is a
SPECS: The new 47,000 sq. ft. recreation center will feature indoor and outdoor
200-room Hyatt Place hotel. The hotel fronts both New York Avenue and
N Street, NE.
enhancements such as a gymnasium, indoor swimming pool, dance facilities,
football field and basketball court.
Hilton Garden Inn
2201 M Street, NW
Perseus Realty/OTO Development/
Starwood Capital Group
Turner Construction Company
Silver
Completed
SPECS: A new 238-room Hilton Garden Inn with about 4,500 sq. ft. of retail/
restaurant space was built at the corner of 22nd and M Streets, NW.
West End Square 37
2
LOCATION: DEVELOPER(S): ARCHITECT(S): LEED: STATUS: WARD
2
24th & L Streets, NW
EastBanc/Dantes Partners/
Warrenton Development Group
TEN Arquitectos/WDG
Gold
Near Term
SPECS: The West End Square 37 development includes a 322,000 sq. ft. mixed-use
building with 164 residential units (71 apartments & 93 condos), 7,600 sq. ft. of
retail space, and a 20,000 sq. ft. public library.
65
HOSPITALITY
DEVELOPMENT
Image courtesy of the Trump International Organization
Image courtesy of SmithGroupJJR
National Museum of African-American History & Culture
Trump International Hotel (The Old Post Office)
2
The National Mall
SmithGroupJJR/Freelon Group/Adjaye Associates
Smoot Construction/Clark Construction Group LLC
Gold
WARD
2
1100 Pennsylvania Avenue, NW
Trump Hotel Collection
ARCHITECT(S): Beyer Blinder Belle Architects & Planners LLP
CONTRACTOR(S): Lend Lease
LEED: Certified
LOCATION: DEVELOPER(S): SPECS: The 325,000 sq. ft. museum will include a dining facility, museum store,
SPECS: In February 2012, the GSA selected the Trump Hotel Collection to
cafe, auditorium and exhibit areas. The museum will be located on a five-acre
plot of land adjacent to the Washington Monument and the National Museum of
American History on Constitution Avenue.
renovate the Old Post Office Building and Annex (536,000 total sq. ft.) into a 270room luxury hotel with restaurants, retail, a spa and fitness center, and meeting
and conference facilities.
Image courtesy of the Capitol Riverfront BID
American Veterans Disabled for Life Memorial
WARD
2nd & C Streets, NW
Disabled Veterans’ LIFE Memorial Foundation Inc
ARCHITECT(S): Michael Vergason Landscape Architects/
CONTRACTORS:
Tompkins Builders
6
Hampton Inn & Suites Washington, DC Ballpark
LOCATION: LOCATION: DEVELOPER(S): DEVELOPER(S): SPECS: The memorial will feature a star-shaped reflecting pool, with a single
eternal flame. A grove of trees will stand sentry beside the pool, signifying
the persistence of hope. The memorial officially opened to the public in
October 2014.
66
WARD
6
1st & N Streets, SE
Buccini Pollin Group
ARCHITECT(S): BBG-BBGM
CONTRACTOR(S): Sigal Construction Corporation
LEED: Silver
SPECS: The 13-story, 168-room Hampton Inn & Suites plans to open in 3Q 2016.
The site is located across N Street from Nationals Park.
Nationals Youth Baseball Academy
WARD
5th & Eye
7
LOCATION: LOCATION: DEVELOPER(S): 3675 Ely Place, SE
DC Government/Washington Nationals
Dream Foundation
ARCHITECT(S): Devrouax & Purnell Architects-Planners PC
CONTRACTOR(S): Turner Construction Company
STATUS: Completed
DEVELOPER(S): WARD
6
901 5th Street, NW
Peebles Corporation/MacFarlane Partners
ARCHITECT(S): WDG
LEED: Silver
STATUS: Medium Term
SPECS: Plans call for a 13-story, 198-room Standard International hotel and 59
residential units. As part of the RFP proposal, the development team will build
100 affordable units off-site and provide $2 million for local park improvements.
SPECS: The Washington Nationals Youth Baseball Academy includes three fields
for softball and baseball and a two-story, 18,000 sq. ft. education/recreation
building that contains batting cages, classrooms and a teaching kitchen.
Image courtesy of Friedman Capital Advisors
Image courtesy of D.C. United
D.C. United Stadium
WARD
6
1st Street & Potomac Avenue, SW
D.C. United/DC Government
LEED: Certified
EST. COST: $287-$300 million
The Line DC
LOCATION: DEVELOPER(S): DEVELOPER(S): along Potomac Avenue, SW. The proposed plan calls for the DC Government to
facilitate land assemblage and all infrastructure work and D.C. United to build
the stadium.
1
1780 Columbia Road, NW
Adams Morgan Church Hotel LLC/
Friedman Capital Advisors LLC/Foxhall Partners/
Sydell Group
ARCHITECT(S): OPX
LEED: Silver
STATUS: Near Term
LOCATION: SPECS: D.C. United plans on building a 20,000 - 25,000 seat soccer stadium
WARD
SPECS: This adaptive reuse project involves the the restoration and preservation
of the First Church of Christ, Scientist and the construction of a nine-story
addition. There will be a total of 220 hotel rooms and 21,000 sq. ft. of retail/
amenity space.
67
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EDUCATION
69
education
Education Development in the District of Columbia
From 2001–2013, DC has averaged
about 946,000 square feet of
deliveries per year, a total that will
be surpassed in 2014, 2015 and 2016.
DC EDUCATION MARKET SNAPSHOT
TOTAL COLLEGE ENROLLMENT1
DC PUBLIC SCHOOL ENROLLMENT2
~80,000
47,651
DC PUBLIC CHARTER SCHOOL
ENROLLMENT2
HOSPITALS3
38,302
Since 2001, more than 13.1 million square feet of
education (primary/secondary, college/university) and
medical space has been built or modernized in DC,
with another 3.5 million square feet currently under
construction. During this time DC has averaged about
946,000 square feet of deliveries per year, a total that
will be surpassed in 2014, 2015 and 2016.
While DC is internationally known for its colleges,
universities and hospitals, it has been the primary and
secondary schools (public and private) that have built
the most facilities, accounting for nearly half of the 16.6
million square feet completed since 2001 and currently
under construction. This trend has continued over the
past six years.
15
With enrollment and competition increasing, colleges
and universities have built more than 4.7 million
square feet of new dorms and academic centers in
DC since 2001, with another 1.7 million square feet
under construction. By far the most active (by square
feet) has been George Washington University, which
is responsible for nearly 40% of all college/university
development starts since January 2008.
EDUCATION PROJECTS UNDER
CONSTRUCTION & COMPLETED4
12% Medical
Of the 8.7 million square feet of education and
medical space that started construction since 2008,
more than half can be attributed to new primary and
secondary schools.
Primary 52%
PROJECTS
STARTED
SINCE 2008
36% Colleges/
Universities
1. DC schools belonging to the Consortium of Universities of the Washington Metropolitan Area and UDC Community College, NYU Washington, DC
and University of California’s Washington Center 2. Washington Post, D.C. public schools enrollments continue to climb (10/8/14) 3. U.S. News & World
Report/Wikipedia 4. Projects started since January 2008 and under construction (as of September 2014)
EDUCATION DEVELOPMENT (September 2014, sq. ft. in thousands)
GROUNDBREAKINGS
Schools
2000
1,258
2001
1,033
2002
2003
608
2004
476
2005
2006
420
13
2001
1,306
2002
1,131
1,237
574
996
676
996
676
2010
125 1,151
210
1,902
2011
1,284
551
448
859
2012
93 541
2,335
26
10
1,237
561 13
2009
130 814
1,692
839
1,121
2008
607
2013
1,120
2007 38 138 176
1,030
2011
2014
YTD
414
2006
811
1,026
449
773
706
2005
1,030
684
36
2004
448
607
737
2003
420
2010
2012
1,458
621
2007
2009
10 1,043
152
Medical
Medical (projected)
1,694
476
363
2008
436
Schools
Schools (projected)
COMPLETED
Medical
439
2,774
2013
2014*
865
999
227
1,074
840
811
267
191
1,284
1,086
64 1,138
1,107
1,002
2015*
2016*
1,885 26 1,911
974
439 1,413
EDUCATION DEVELOPMENT (3Q 2014)2
PROJECTS
EDUCATION SQ. FT.
159
14
14
12
17
12
13
2
8
18
7
10
14
11
7
13,107,526
773,158
1,119,500
1,130,970
1,237,481
573,944
995,820
176,004
675,570
1,283,875
999,490
1,086,032
1,137,594
1,106,988
811,100
Under Construction
2014 delivery
2015 delivery
2016 delivery
21
2
13
6
3,515,317
191,112
1,910,760
1,413,445
Pipeline
Near Term
Medium Term
Long Term
33
7
6
20
4,638,022
492,047
84,000
4,061,975
213
21,260,865
Completed
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014 YTD
TOTAL
946
THOUSAND
average eduation sq. ft.
delivered per year
(2001–2013)
2. includes K-12, colleges & university and medical projects
71
DEVELOPMENT MAP
EDUCATION
10
13
15
CO
18
TIC
UT
ROCK
CREEK
PARK
E
AV
14TH ST.
17
GEORGIA AVE
EC
NN
5
14
26
6
U ST.
24
VE
DA
LAN
E IS
OD
RH
2
VE
KA
OR
GE
WY
OR
NE
GE
W
AS
HI
N
G
TO
N
23 22
20 9
M
E
AL
RI
O
M
Y
W
PK
16
4 28
VIRGINIA
30
11 19
66
7
3
H ST.
UNION
STATION
29
E. CAPITOL ST.
NATIONAL MALL
VIRGINIA
U.S. CAPITOL
27
FORT DUPONT
PARK
21
NATIONALS
PARK
M
395
JR.
AV
E.
M
1
M
M NATIONAL
AIRPORT
8
Alexandria
25
12
Completed
Under Construction
Pipeline
1
PROJECT
WARD LOCATION
DEVELOPER(S)
EDUCATION SF
EST. VALUE
($M)1
DELIVERY2
$25
4Q 13
TOP EDUCATION & MEDICAL PROJECTS COMPLETED (4Q 2013–3Q 2014)
1
The Conway Health & Resource Center
8
4 Atlantic St., SE
JAIR LYNCH Development Partners/
Community of Hope
50,000
2
Carlos Rosario Charter School
5
514 V St., NE
48,000
3
Unity Health Care - Parkside Health Center
7
765 Kenilworth Terrace, NE
42,588
$24
4Q 13
4
Milken Institute School of Public Health
2
950 New Hampshire Ave., NW
George Washington University
115,000
$75
1Q 14
5
McKinley Hall Renovation for School of
Communication
3
American University
62,000
$16
1Q 14
6
Howard University Dorms
1
4th & Bryant Sts., NW
Howard University/Campus Apartments LLC
393,812
$107
3Q 14
7
KIPP
5
1375 Mount Olivet Road, NE
KIPP DC
100,000
$25
3Q 14
8
Friendship Technology Preparatory Academy
8
2705 Martin Luther King Jr.
Ave., SE
Friendship Public Charter Schools/JAIR LYNCH
Development Partners
59,000
$36
3Q 14
9
Healey Family Student Center (South
Student Center)
2
3700 O St., NW
Georgetown University
45,000
$23
3Q 14
10
Lowell School Parkside Building
4
1640 Kalmia Road, NW
Lowell School
36,298
$7
3Q 14
4Q 13
TOP EDUCATION & MEDICAL PROJECTS UNDER CONSTRUCTION
11 Science & Engineering Hall
2
22nd & H Sts., NW
George Washington University/Boston Properties
290,000
$275
1Q 15
12 Ballou Senior High School
8
3401 4th St., SE
Department of General Services/DC Public Schools
365,000
$413
2Q 15
13 Paul Public Charter School
4
5800 8th St., NW
150,000
$19
2Q 15
14 Theodore Roosevelt High School
4
4301 13th St., NW
332,000
$113
3Q 15
15 Washington College of Law
3
Tenley Campus
American University
322,300
$125
3Q 15
16 KIPP DC
5
1401 Brentwood Parkway, NE
KIPP DC
125,000
$45
3Q 15
17 New Sibley
3
5255 Loughboro Rd., NW
Sibley Memorial Hospital
439,000
$242
3Q 16
18 AU East Campus
3
3501 Nebraska Ave., NW
American University
340,000
$100
3Q 16
19 New Residence Hall on Square 77
2
2121 H St., NW
330,000
$130
3Q 16
20 John R. Thompson Jr. Intercollegiate
Athletic Center
2
144,000
$62
3Q 16
TOP EDUCATION & MEDICAL PROJECTS PIPELINE (Near & Medium Term)
21
Van Ness Elementary School
6
1150 5th St., SE
DC Public Schools
49,000
$15
2015
22
Duke Ellington School of the Arts
2
3500 R St., NW
DC Public Schools
294,900
$110
2016
23
Northeast Triangle Residence Hall
2
74,147
$46
2016
24
Lab School of Washington
3
4759 Reservoir Road, NW
Lab School of Washington
30,000
$16
2016
25
THE ARC (Phase III)
8
18th St. & Mississippi Ave., SE
WC Smith/Building Bridges Across the River
41,000
$20
2017
26
McMillan Sand Filtration Site
5
North Capitol St. &
Michigan Ave., NW
Vision McMillan/EYA LLC/JAIR LYNCH Development
Partners/Trammell Crow Company
1,000,000
$720
2018
27
New Fort Dupont Ice Arena
7
3779 Ely Pl., SE
Department of General Services
3,000
$20
2018
28
Stevens Place
2
2100 L St., NW
Akridge/Argos Group LLC
29
Benning & East Capitol Gateway
7
45th St. & Benning Road, NE
SOME
30
Franklin School
2
13th & K Sts., NW
EastBanc Inc/Institute for Contemporary Expression
2018
36,000
$24
1. may include non-education & medical components ($ in millions) 2. delivery date may reflect phase I delivery or final phase delivery for pipeline projects
73
EDUCATION
DEVELOPMENT
Image courtesy of Bowie Gridley Architects
Ballou Senior High School
Howard University Dorms
8
3401 4th Street, SE
Bowie Gridley Architects/Perkins+Will
HESS Construction + Engineering Services/
Chiaramonte Construction Company
Gold
WARD
1
LOCATION: 4th & Bryant Streets, NW
Howard University/Campus Apartments LLC
ARCHITECT(S): McKissack & McKissack
CONTRACTOR(S): Clark Construction Group LLC
LEED: Silver
STATUS: Completed
DEVELOPER(S): SPECS: The new 365,000 sq. ft. school will replace the existing facility and
SPECS: The new two dormitories (394,000 sq. ft.) can accommodate 1,360 beds
includes an auditorium, cafeteria, library/multi-media center, gymnasium,
outdoor athletic fields, and a community accessible fitness facility and
daycare center.
for students, a 200-person multipurpose room, classrooms, academic advisory
offices and a new home for the University’s Office of Residence Life.
Howard University Interdisciplinary Research Building
2201 Georgia Avenue, NW
Howard University
Lance Bailey & Associates/HDR Architecture
Silver
SPECS: The new 81,670 sq. ft. HUIRB is a key research facility that will support
both the core and collaborative functions of a wide range of interdisciplinary
research programs. It will also offer 3,000 sq. ft. of retail space on the first floor.
74
1
Lowell School Parkside Building
WARD
LOCATION: 1640 Kalmia Road, NW
Lowell School
ARCHITECT(S): Bowie Gridley Architects
CONTRACTOR(S): Keller Brothers, Inc.
STATUS: Completed
DEVELOPER(S): SPECS: The 20,360 sq. ft. Parkside building will undergo a full renovation and
a 16,000 sq. ft. addition will be built. It will be home to academic classrooms,
science labs, a middle school library, visual arts studios, music classrooms, a
studio theater, and administrative space.
4
Image courtesy of American University
Washington College of Law
3
American University (Tenley Campus)
American University
SmithGroupJJR
Whiting-Turner Contracting Company
Gold
LOCATION: DEVELOPER(S): ARCHITECT(S): LEED: STATUS: Avenue to its Tenley Campus. Plans call for a new 322,300 sq. ft. building and
renovation of the Capital Hall and Dunblane House (62,800 sq. ft.).
3
4200 Connecticut Avenue, NW
University of the District of Columbia
Cannon Design/Marshall | Moya Design
Forrester Construction Company/
Parkinson Construction
Platinum
SPECS: The University of the District of Columbia’s new 87,000 sq. ft. student
WARD
2
Bowie Gridley Architects/Populous
Silver
SPECS: The 144,000 sq. ft. athletic center will occupy the parking lot area in front
SPECS: American University is relocating its law school from 4801 Massachusetts
UDC Student Center
John R. Thompson Jr. Intercollegiate Athletic Center
of McDonough Arena and offer new practice courts, team meeting rooms, weight
training facility and sports medicine/training rooms and the new home for the
Georgetown Athletic Hall of Fame.
WARD
5
514 V Street, NE
ARCHITECT(S): Shinberg Levinas
STATUS: Completed
LOCATION: DEVELOPER(S): SPECS: The new urban campus is a three-story, 48,000 sq. ft. building. It
can accomodate 400 - 500 students and offers culinary classes as part of
its curiculium.
center will include new construction and renovated space. The center will feature
a cafeteria, student lounges, recreation area, a 10,000 sq. ft. fitness facility, a
ballroom and conference space.
75
EDUCATION
Friendship Technology Preparatory Academy
LOCATION: DEVELOPER(S): ARCHITECT(S): CONTRACTOR(S): LEED: STATUS: Development Highlights
DEVELOPMENT
WARD
Science & Engineering Hall (SEH)
8
2705 Martin Luther King Jr. Avenue, SE
Friendship Public Charter Schools/
Architecture Inc
Silver
Completed
2
22nd & H Streets, NW
George Washington University/Boston Properties
Ballinger Architects
Silver
SPECS: The eight-story, 600,000 gross sq. ft. SEH will house the science and
engineering schools. The building will feature 290,000 sq. ft. of teaching and
research space and contain six underground floors (two for programs and four
for parking).
SPECS: The three-story, 59,000 sq. ft. building includes 25 classrooms, a smart
lab, an engineering lab, two biology labs, two chemistry labs, and a greenhouse. It
was built on the site of a former McDonalds.
Image courtesy of EYP
Image courtesy of American University
American University East Campus
WARD
3
Trinity Academic Center
WARD
LOCATION: 3501 Nebraska Avenue, NW
American University
ARCHITECT(S): Little Diversified Architecture
CONTRACTOR(S): Skanska
LEED: Gold
LOCATION: DEVELOPER(S): DEVELOPER(S): SPECS: American University plans on building a total of six buildings (340,000
academic building on campus in more than 50 years. The building will offer
23 classrooms, eight science labs and four labs for the Nursing and Health
Professions program.
sq. ft.) on an existing 900-space parking lot (8.1 acres) near Nebraska and New
Mexico Avenues, NW. There will be three residence halls (590 students) and three
academic/administrative buildings.
76
125 Michigan Avenue, NE
Trinity College
ARCHITECT(S): EYP Architects
CONTRACTOR(S): Clark Construction Group LLC
SPECS: The four-story, 80,000 sq. ft. academic center will be the first new
5
Image courtesy of SOME
Visualization by Interface Multimedia
McMillan Sand Filtration Site
5
North Capitol Street & Michigan Avenue, NW
Vision McMillan/EYA/
JAIR LYNCH Development Partners/Trammell Crow
Perkins Eastman/Shalom Baranes Associates/
MV+A Architects
EYA LLC
Silver
Medium Term
Benning & East Capitol Gateway
LOCATION: DEVELOPER(S): STATUS: WARD
7
45th Street & Benning Road, NE
SOME
Medium Term
SPECS: The proposed project calls for 202 affordable residential units, workforce
& senior housing, a sit-down deli, SOME’s Center for Employment Training,
36,000 sq. ft. for a medical/dental clinic and administrative offices.
SPECS: The 24.1-acre site will be redeveloped into a 2.0 million sq. ft. mixed-use
development. Plans call for 1.0 million sq. ft. of office/healthcare space, up to 670
residential units (for-sale and rental), 80,000 sq. ft. of retail space and 12-acres
of public open spaces, anchored by an eight-acre central park with a 17,500 sq. ft.
community center.
Image courtesy of WC Smith
THE ARC (Phase III)
LOCATION: DEVELOPER(S): CONTRACTOR(S): LEED: STATUS: WARD
8
18th Street & Mississippi Avenue, SE
WC Smith/Building Bridges Across the River
Silver
Near Term
SPECS: The new 75,000 sq. ft. building will provide space for the Bishop Walker
School, an expanded clinic run by Children’s National Medical Center, Lift DC’s
local and national offices, and a black box theater.
Brookland Middle School
WARD
5
1150 Michigan Avenue, NE
DC Public Schools/Department of General Services
ARCHITECT(S): Hartman-Cox Architects
LEED: Gold
LOCATION: DEVELOPER(S): SPECS: The Brookland Middle School is a modernization of and addition to the
former Brookland Elementary School (closed in 2008). The new school will be
100,000 sq. ft. (grades 6-8) with a capacity of 540 students. It will include a fullsize gymnasium, practice spaces, and media center.
77
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APPENDIX
Methodology / Acknowledgements
81
APPENDIX
APPENDIX
Methodology
The goal of the Washington, DC Economic Partnership was to create a comprehensive database of development activity that would
help us find answers to the following questions:
• What is the make-up of development activity?
• Where is the development activity occurring?
• What are the trends?
• How much is being invested in our community?
However, before we could begin to collect development information we had to create a methodology to give us guidance on what data to
assemble on each project and which projects to include in our database. The following is a brief explanation of what types of data we try
to obtain for each development and how we gather that information. While our database of projects is constantly being updated, for the
purposes of this publication, all data reflects project status, design and information as of September 2014.
Architect
General Contractor
As one of our primary sources of information, we maintain
information on the architects involved in the design of
the project.
information on the general contractors involved in the
construction of the project.
Construction Type
Green Development
Components of each project are categorized as one of the
following: New Construction, Renovation or Infrastructure. If a
project includes both new construction and renovation we try to
record each portion separately.
If a project contains “green elements” or sustainable design
features it is considered a green project.
Delivery
The delivery date is an estimate of when a project is scheduled
to be completed. For completed projects, this is the date that the
first certificate of occupancy was issued for the project. If no
certificate of occupancy was issued then we use the date supplied
by a primary or secondary source.
Description
Complex projects and mixed-use developments include a
description that highlights key components and other points of
interest about the development project.
Developer
information on developers and other controlling interests in
development projects.
Financing Sources
Whenever possible, we identify public and private
funding sources.
82
Groundbreaking
The groundbreaking date is an estimate of when a project is
scheduled to start. For projects that are under construction
or completed the groundbreaking date can be the date of a
groundbreaking event or the date that a building permit was
issued on a project.
Hotel Rooms
For hotel projects, we track the number of new and renovated
rooms. The number of rooms does not necessarily reflect net
new rooms because it does not account for rooms taken out of
the inventory.
Imagery
Many of the projects in our database include one or more photos,
renderings, elevations or other illustrations. In most cases these
images are provided by either a primary or secondary source or
are photos taken by the WDCEP. In many cases renderings and
illustrations are concepts and may not reflect the final design.
Lead Tenant
The lead tenant could be the first lease signed in a new or
renovated building or the tenant that occupies the most space.
APPENDIX
Methodology
LEED
Status
When possible we track the LEED (Leadership in Energy
& Environmental Design) certification level that has either
been obtained or planned to achieve. The level listed may
reflect the entire project or one component of a mixed-use or
multi-phased project.
Each development project is tracked by status and defined by one
of the following categories:
Location
• Medium Term: Projects that have the potential to break
ground in 18–36 months. These projects are considered part
of DC’s pipeline.
The physical address is used when possible; however when no
address is possible the closest intersection is used.
Project Cost
We track total development costs including both hard and soft
costs associated with a project as well as land costs. Whenever
possible, we use actual costs provided by primary sources.
Sometimes, however, it is necessary to estimate project costs
based on historical information. Because of the tremendous
amount of construction activity and staff resources required to
maintain the data, we established a minimum threshold of $5
million to be included in the database (from 2001–8/2009 the
minimum was $1 million).
Project Name
Project names are generally the name of the building or the
development. However, when projects are referenced by different
sources with different names, we use the most commonly
referenced name of the project. When there is no name for the
project, projects are referenced by address.
Residential Units
For residential projects, we track the number of units of both
new construction and renovation. The number of new residential
units does not necessarily reflect the net new units on the market
because it does not account for units taken out of the inventory.
Square Footage
Whenever possible, we try to obtain the total square footage
of the project. For mixed-use projects, we break out the square
footage associated with each major use.
• Long Term: Projects that are not expected to break ground
for at least 36 months or longer. These projects are considered
part of DC’s pipeline.
• Near Term: Projects that have the potential to break ground
in the next 18 months. These projects are considered part of
DC’s pipeline.
• Under Construction: Projects are defined as under
construction once a building permit has been issued on the
project or a primary source has indicated that construction
has begun.
• Completed: Projects are defined as completed once the
first certificate of occupancy is issued on a project, except in
the case of a multi-phase project, in which each phase of the
project is tracked separately. If no certificate of occupancy
was issued, then we use the date supplied by a primary or
secondary source.
Use
Each project is categorized by type of use. For mixed-use
developments, we capture the square footage or units/rooms for
each of the following:
• Community1
• Industrial4
• Residential
• Education2
• Medical5
• Retail
• Entertainment3
• Museum6
• Hotel
• Office
Ward
The Ward identified for each project is based off of the 2012 Ward
boundaries.
Zip Code
Zip codes are tracked for mapping purposes as defined by data
from our geographic information system (GIS) and may not
reflect the actual U.S. Postal zip code for that address.
1. e.g. library, recreational center, place of worship 2. e.g. K–12, colleges, universities 3. e.g. movie theaters, live performance venues
4. industrial & warehouse 5. e.g. hospitals, clinics 6. museums & memorials
83
APPENDIX
APPENDIX
Methodology
Where do we get our information?
Adding or Updating Information
To capture the most comprehensive inventory, we use a variety
of sources to gather information about development activity, and
whenever possible, we contact the developers directly to get the
most up-to-date and accurate information available and do site
location visits to verify the project’s status. Often our research
uncovers discrepancies in available data on project information
such as square footage, cost, number of units, etc. When
this occurs, we try to reconcile the differences by speaking
directly with parties involved in the development. Some of our
sources include:
If you are looking for information about a specific project and
you do not see it on our list, it may have been omitted for one of
the following reasons.
u
It did not meet the $5 million threshold. There is simply
too much activity for us to keep accurate information about
every improvement made in the District of Columbia.
Therefore, we only collect data for projects valued over $5
million.
v
We are missing a key piece of information. Generally we
will include projects in our database even if we do not have
a complete set of data available. However, some projects are
omitted from our reports and analysis if they are missing
key data that we use to query or analyze the database.
w
We have questions about the validity of the data. We
make every effort to acquire data from multiple and
primary sources to validate our information. Frequently,
we encounter discrepancies in project details. Whenever
possible we try to reconcile those discrepancies.
Sometimes, we are unable, and we may exclude the project
because of an unresolved question about the data.
x
We may not know about it. Although our data collection
methods are comprehensive, we may miss projects. We
discover new information almost every day, and we are
constantly adding projects as we become aware of them.
Primary Sources
Architects
Building Permit Data
Certificates of Occupancy
Developers
DC Office of Planning
DC Office of the Deputy Mayor for Planning &
Economic Development
DC Office of the Chief Financial Officer
General Contractors
Project Managers
Secondary Sources
Brokers
CoStar
Business Improvement Districts
Media & Newspapers
Neighborhood Newsletters & Blogs
If you have information about a development that you would
like included in our database or if you have discovered errors in
our data, please let us know. We rely on your feedback to keep
our database accurate.
To add or update a record in our database, please contact:
Chad Shuskey
Senior Vice President, Research & Visual Communications
202.661.8674 / cshuskey@wdcep.com
84
Matt Kruczlnicki
Research Analyst
202.661.8683 / mkruczlnicki@wdcep.com
APPENDIX
Acknowledgements
The Washington, DC Economic Partnership would like to thank the following organizations for their
contributions to this year’s DC Development Report.
Abdo Development
Donohoe Companies
Paramount Group
Adams Investment Group
Downtown BID
PERS Development
Akridge
EDENS
Peterson Companies
Architect of the Capitol
Ellis Development Group
PGN Architects
Avalon Bay
Ennead Architects
PN Hoffman
Balfour Beatty Construction
Equity Residential
BELL Architects
Euro K Street Properties, Inc.
R2L Architects
BISNOW
EYA
Rappaport
Blue Skye Development & Construction
First Potomac Realty Trust
Bonstra | Haresign Architects
Ruben Company
Boston Properties
Forrester Construction Company
Bozzuto
Fort Lincoln New Town Corporation
Skanska
Brook Rose Development
Foulger-Pratt Companies
SK & I Architectural Design Group
Camden Living
SmithGroup
Capitol Riverfront BID
Giant
Smoot Construction Company
CAS Riegler
GlobeSt.com
Steuart Investment Company
CBRE
Grunley Construction
Studios Architecture
City Partners LLC
GSA
Tishman Speyer
Clark Construction
H Street CDC
Clark Realty Capital LLC
H&R Retail
Trump Hotels
Community Three Development
Hargreaves Associates
Union
Cooper Cary
Urban Turf
Concordia Group
Insight Property Group
VOA Associates
CoStar
Jair Lynch Development Partners
Walker Development
Dantes Partners
James G. Davis Construction Corporation
Washington Business Group
Davis, Carter, Scott
The JBG Companies
Washington Business Journal
DC Department of Consumer
JD Land
Washington Post
Jefferson Apartment Group
WCS Construction
DC Department of General Services
Lincoln Property Company
WC Smith
DC Housing Authority
Madison Marquette
WDG Architecture
DC Housing Finance Agency
Manna, Inc.
Wiencek & Associates
DC Department of Parks & Recreation
Mill Creek Residential Trust
The Wilkes Company
DC GIS
MissionFirst Development
DC Office of the Chief Technology Officer
Monument Realty, LLC
DC Office of Planning
MRP Realty
DC Public Library
Neighborhood Development Company
DCRealEstate.com
NoMa BID
Department of General Services
OTO Development
Donatelli Development
Paradigm
& Regulatory Affairs
85
It is the mission of the Washington, DC Economic
Partnership, a 501(c)3 organization to promote business
opportunities throughout the District of Columbia and to
contribute to business retention and attraction activities.
Washington, DC Economic Partnership 1495 F Street, NW Washington, DC 20004 202.661.8670 www.wdcep.com

DC Development Report: 2014/2015 Edition

Transcription

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