Washington DC Development Report: 2019/2020

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DEVELOPMENT REPORT 2019 / 2020 EDITION

In Public-Private Partnership with CITY RIDGE / DEVELOPED AND OWNED BY ROADSIDE DEVELOPMENT / NORTH AMERICA SEKISUI HOUSE AMERICA / NORTH DEVELOPMENT ROADSIDE BY AND OWNED CITY RIDGE / DEVELOPED The Washington DC Economic Partnership would like to acknowledge our public and private sector board members whose continued financial support and guidance has made the Washington, DC Development Report 2019/2020 Edition possible.

PUBLIC SECTOR PARTNERS

OFFICE OF THE CHIEF TECHNOLOGY OFFICER

PRIVATE SECTOR PARTNERS

BOARD MEMBERS

EXECUTIVE COMMITTEE Raj Aggarwal Daniel Duke Chase W. Rynd Board Chairman, Think Local First Prinicipal Mid-Atlantic Region, Executive Director, John Falcicchio / Co-Chair Joseph Askew Bohler Engineering National Building Museum Interim Deputy Mayor, Vice President, Government Relations, Josh Etter Tara Scanlon Office of the Deputy Mayor for Verizon Director, Development, Partner, Holland & Knight Planning and Economic Development Kristina Bouweiri Foulger Pratt Shawn Seaman Richard Lake / Co-Chair President & CEO, Reston Limo Angie Gates Principal and Executive Vice President, Managing Principal, Steven Boyle Director, OCTFME Hoffman & Associates Roadside Development Managing Director, Stan Jackson Annie Senatore Omar McIntosh / Vice Chair EDENS President & CEO, AEDC CEO and Lead Event Designer, Senior Vice President, Jean-Luc Brami Norman Jemal Design Foundry Smoot Construction Vice President, Gelberg Signs Vice President, Olivia Shay-Byrne Douglas Development Partner, K&L Gates Jennifer Eugene / Secretary Kenneth Brewer Manager, Engineered Sales, Executive Director, H Street CDC Caroline Kenney Stephen Taylor Washington Gas Ernest Chrappah Managing Director of Commissioner, DISB Director, DCRA Public/Private Development, Joseph Torraca Timothy F. Veith / Treasurer Urban Atlantic Vice President of Business Development, President, Brunson Cooper RCN United Bank Corenic Construction Group, Susan Lacz Corenic Construction Principal & CEO, Andrew Trueblood Keith Sellars / President Ridgewells Catering Director, DC Office of Planning President & CEO, Donna Cooper Region President, Pepco Lisa Mallory Donna Rattley Washington Washington DC Economic Partnership CEO, DCBIA Anita Butani D’Souza Vice President Business Development, Karima Woods / Division Head, HGRM Corporation Gregory O'Dell Comcast DMPED Representative President & CEO, Events DC Mitch Weintraub Director of Business Colette Dafoe Lindsey Parker Partner, Cordia Partners Development & Strategy, Office Managing Partner, Chief Technology Officer, Office of the Deputy Mayor for Nixon Peabody Kristi Whitfield OCTO Planning and Economic Development Timothy Duggan Director, DSLBD Senior Vice President and Commercial William Rich Donna Woodall Regional Group Manager, TD Bank President, Delta Associates Director of Citizenship & Public Affairs, Microsoft WASHINGTON, DC DEVELOPMENT REPORT 2019 / 2020 EDITION

CITY RIDGE / DEVELOPED AND OWNED BY ROADSIDE DEVELOPMENT / NORTH AMERICA SEKISUI HOUSE

A publication of the In partnership with WDCEP The Washington DC Economic Partnership and global enterprise (WDCEP) is a non-profit, public-private leaders based organization whose core purpose is to on independent actively position, promote, and support thinking and economic development and business objective insights. opportunities in Washington, DC. We stay one step ahead of the vibrant and evolving economic Our mission is to promote DC’s economic landscape by monitoring the pulse of and business opportunities and support DC’s developers, startups, entrepreneurs, business retention and attraction activities. and large and small businesses. Through historical knowledge of the city’s business and economic climate; WDCEP Real Estate Services accurate analytics, data, and research; and • DC Real Estate Search tool community partners and access, WDCEP is (search.wdcep.com) the central organization in Washington, DC • Development Data that connects public and private sectors, (wdcep.co/dcdr) neighborhoods, and communities to local, • Local Market Intelligence national, and international audiences. (wdcep.co/neighborhoods) • Maps (wdcep.co/maps) WDCEP’s purpose and success aligns with • Site Location Assistance its partners in the city: to facilitate dynamic relationships with technology visionaries, Learn more at wdcep.com or artists, real estate entrepreneurs, non-profits, engage with us @WDCEP.

THE DC DEVELOPMENT REPORT The DC Development Report is a summary constantly being updated, for the purposes of of the major development and construction this publication all data reflects project status, projects in the District of Columbia. WDCEP design, and information as of August 2019. tracks major developments throughout the Although every attempt was made to year and performs an annual “development ensure the quality of the information census” in the month of August. This research contained in this document, WDCEP and and outreach receive contributions from more Delta Associates makes no warranty or than 100 developers, architects, contractors, guarantee as to its accuracy, completeness, and economic development organizations or usefulness for any given purpose. and results in updates to more than 300 projects. While our database of projects is DEVELOPMENT OVERVIEW 4 ECONOMIC OVERVIEW 12 DEVELOPMENT OVERVIEW 14 MOST ACTIVE DEVELOPERS, ARCHITECTS & CONTRACTORS

DEVELOPMENT SECTOR 19 OFFICE 33 RETAIL 47 RESIDENTIAL 63 HOSPITALITY 73 QUALITY OF LIFE

NEIGHBORHOOD DEVELOPMENT 84 ANACOSTIA 85 ANACOSTIA WATERFRONT / CAPITOL RIVERFRONT 86 CAPITOL HILL / PENNSYLVANIA AVE, SE 87 GOLDEN TRIANGLE / WEST END 88 RHODE ISLAND AVENUE, NE 89 UNION MARKET / NOMA

APPENDIX 92 METHODOLOGY 93 ACKNOWLEDGMENTS DEVELOPMENT OVERVIEW

DEVELOPMENT OVERVIEW OVERVIEW

ECONOMIC OVERVIEW DEVELOPMENT OVERVIEW MOST ACTIVE

Image courtesy of Urban Atlantic ECONOMIC OVERVIEW

ECONOMIC OVERVIEW By: Jonathan Chambers, Vice President, Delta Associates GROSS DOMESTIC PRODUCT (GDP)

Economic growth in the District of Columbia continued to The District has progressively diversified its economy in order accelerate over the past year, driven heavily by the private to reduce its reliance on the federal government, which has seen sector. In 2018, GDP in the District grew at a rate of 4.0% to growth stagnate for nearly a decade. Between 1998 and 2018, $144.1 billion, well ahead of the 2.9% pace of U.S. GDP growth. the public sector’s contribution to the economy has fallen from Economic activity in the District’s private-sector grew at a 39% to 32%. Mayor Muriel Bowser’s Economic Strategy calls post-recession high of 5.5% during the year, compared to public for growing private sector GDP to $100 billion by the end of sector expansion of just 0.8%. Through the first quarter of 2019, 2021. With annualized private sector GDP totaling $99.0 billion annualized economic growth expanded to 4.4%. as of the first quarter of 2019, the District is well on its way to achieving this goal. The tech industry has proven to be a strong growth center, and the nearby Amazon HQ2 will further enhance the District’s appeal to tech firms.

DC GDP YEAR-OVER-YEAR GROWTH RATE

8.0%

6.0% 5.5% 4.4% 4.0% 3.1% 2.2% 2.0%

0.0%

-2.0%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 20191 DC Total DC Public DC Private U.S. Total

1. 12-month percentage change as of September 2019. Source: Bureau of Labor Statistics, Delta Associates; September 2019.

LABOR MARKET

The District’s labor market has seen renewed growth in 2019, weighed down by several struggling industries, including Retail. with 9,300 jobs added during the 12-month period ending August The region’s annual pace of growth—1.0% as of August—remains 2019. The private sector continues to dominate job growth, with well behind the 2-4% annual rate of job creation seen in the 10,300 new positions added during the year ending August 2019, major metro areas of the Sunbelt and West Coast, but more compared to a net loss of 1,800 in the public sector. in line with other Northeastern metro areas, and greater than most Midwestern metro areas. As job growth has accelerated in The greater Washington metro area continues to experience the District, the city has captured a larger share of regional job steady job growth, with 33,600 net additions over the year growth—just over one-quarter as of August 2019—overtaking ending August 2019. Regional growth continues to be somewhat Suburban Maryland but remaining well behind Northern Virginia.

ANNUAL JOB GROWTH OF SELECT MAJOR METRO AREAS

4.0%

3.5%

3.0%

2.5%

2.0%

1.5% 1.4% 1.2% 1.0% 1.0%

0.5% 2014 2015 2016 2017 2018 20191

United States District of Columbia Washington MSA New York MSA

Chicago MSA Boston MSA Los Angeles MSA San Francisco MSA

1. 12-month percentage change as of September 2019. Source: Bureau of Labor Statistics, Delta Associates; September 2019.

The District’s 12-month trailing average unemployment rate employment situation in the District to encounter some friction stands at 5.4% as of August 2019, which is a decline of 20 basis by the latter half of 2020 as the national economy slows, with points from the 2018 annual average of 5.6%, and nearly half greater deceleration in 2021, followed by a rebound in later years. the post-recession peak of 10.2% in 2011. However, the level of We project that 8,900 new jobs will be added in the District for unemployment in the District remains higher than the greater all of 2019, followed by another 7,000 positions in 2020 and 5,600 Washington region and the U.S. Looking ahead, we expect the in 2021.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 5 ECONOMIC OVERVIEW

PROJECTED JOB GROWTH (THOUSANDS)

TOTAL JOB GROWTH 31.7 28.7 30 4.8

5.5 23.0

20 4.4 18.0 16.2 13.0 10

8.9 7.0 5.6 0 2019 2020 2021

District of Columbia Northern Virginia Suburban Marland

Source: Delta Associates; September 2019..

ANNUAL JOB GROWTH (THOUSANDS)

12-MONTH PERIOD ENDING AUGUST 2019 2009–2018

DISTRICT OF DISTRICT OF COLUMBIA WASHINGTON MSA U.S. COLUMBIA WASHINGTON MSA U.S. Construction & Mining 0.4 2.7 182.0 2.7 -13.1 92.0 Education & Health Services 1.5 8.9 577.0 28.8 98.3 4,439.0 Federal Government -0.1 0.8 50.0 2.5 15.2 34.0 Financial Activities 0.0 -2.2 114.0 1.9 5.0 363.0 Information 0.8 -1.3 5.0 -1.6 -17.1 -156.0 Leisure & Hospitality 3.5 15.6 302.0 21.9 70.9 2,912.0 Manufacturing -0.1 -0.6 133.0 -0.2 -7.9 -717.0 Other Services 2.2 3.0 93.0 11.0 26.1 330.0 Professional & Business Services 2.8 9.4 452.0 15.3 76.5 3,207.0 Retail Trade -0.1 -5.1 -98.0 4.4 7.3 544.3 State/Local Government -1.7 1.7 69.0 0.7 21.5 -95.0 Transportation/Utilities 0.2 1.6 111.4 0.7 5.1 900.9 Wholesale Trade -0.1 -0.9 73.6 0.1 -6.4 -22.2 Total 9.3 33.6 2,064.0 88.2 281.4 11,832.0

Source: Bureau of Labor Statistics, Delta Associates; September 2019.

LABOR MARKET BY SECTOR relocations, they could cause increases in unemployment, slow population growth, and sour investor sentiment. Perhaps more Federal Government than ever, the results of the next presidential and congressional election will have an outsized effect on the future growth (or The federal government continued to shed jobs in the District contraction) of the District’s federal workforce. in 2019, albeit at a slower rate than in 2018. Over the 12 months ending August 2019, federal employment in the District shrunk Professional and Business Services by 100 positions. Aside from chronic negative job growth, the District’s federal sector has been very turbulent during the While the Professional and Business Services sector isn’t posting current presidential administration. Federal workers have had to the enormous gains that it did in earlier years of the recovery endure pay freezes, government shutdowns (without pay), and cycle, it remains a vital pillar of the District’s economy. During rapidly changing (or vacant) administrative leadership positions. the 12-month period ending August 2019, the sector added 2,800 new positions—the second most of all primary employment The most recent challenge to the sector has been a Trump sectors, behind Leisure & Hospitality. Job growth in this sector administration attempt to relocate federal agencies from the typically generates demand for office space, making it critical to District to other jurisdictions. Competition with neighboring the city’s commercial real estate market, particularly considering jurisdictions in Maryland and Virginia for federal agencies has federal consolidation. Positions also tend to be well-paying, been routine for the city, but the relocation of federal agencies which strengthens demand for residential units and retail. to other parts of the country entirely (well beyond the commute range of District residents) is significantly more damaging to the Over the past few years the District has seen significant success city’s economy. So far, the administration has moved forward in attracting and retaining large firms in the industry. In 2018 with three agency relocations, despite vehement pushback from long-standing private equity firm The Carlyle Group expanded local politicians and Congress. their District headquarters by 50%. More recently, in spring 2019, NGO Chemonics International finalized a lease for a new Specifically, the USDA has selected the Kansas City metro area 300,000 SF headquarters in Capitol Riverfront and advisory as the new home for two of its sub-agencies: the Economic firm Ankura moved into a new 91,000 SF headquarters, nearly Research Service (ERS) and the National Institute of Food and doubling its square footage in the process. In addition, startup Agriculture (NIFA). ERS is relocating 253 positions, while NIFA incubator 1776 announced that it would relocate from Crystal plans to relocate 294. Both agencies are currently based in the City to the District by the end of 2019. There have been several District’s Southwest Federal Center. At least two-thirds of the recent moves in the District’s large legal sector, although most of existing employees asked to relocate have declined, according to those relocations have been within the city for net reductions of The Washington Post. Further, the Trump administration signed leased space (while maintaining headcount). a lease this year to relocate nearly all of the Bureau of Land Management’s 360-employee workforce, currently based in the Technology Capitol Riverfront neighborhood, to Grand Junction, Colorado and other dispersed locations. The District may have lost out to Arlington County for Amazon’s HQ2 campus, but the city’s tech industry has boomed over The Trump administration’s most predictable characteristic is its the last few years, with growth outpacing any other major unpredictability, so it is unknown if other agency relocations will private sector industry. The East End has become a magnet be proposed, to where, and whether they will be successful. If the for the industry with several major tech firms setting up shop relocations do continue, there will certainly be a negative impact there, including Dell, Facebook, Yelp, FiscalNote, and Apple. on nearly all facets of the District’s economy, where one out of FiscalNote’s growth has been so rapid, that the company has had four jobs is federal. Depending on the size and timing of the to expand its headquarters twice over the last three years. Two

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 7 ECONOMIC OVERVIEW

other home-grown tech firms, EverFi and TransitScreen, also two-thirds since 2015. The only age group that has experienced moved into new, larger headquarters this year. While not strictly recent declines is the 18-24 age group, as younger college a tech firm, coworking operator WeWork has grown massively graduates are becoming increasingly priced out of the District. in the District in recent years, leasing over one million SF at 16 locations, becoming its largest private sector tenant virtually Roughly one-third of new District residents are relocating overnight. WeWork and other coworking firms have nearly from Maryland or Virginia, with the former accounting for the single-handedly turned around the District’s once stagnant office larger share. Outside of the metro area, the Northeast region is market. However, there are growing concerns of risk exposure, the largest contributor of migrants to the District. Additionally, particularly concerning WeWork, which recently canceled an over 10,000 new District residents in the 2013-2017 time period IPO and made considerable leadership changes. moved from abroad. As for those departing, Maryland is the recipient of the largest share of former District residents. The POPULATION GROWTH state is the destination for nearly one-third of people moving out of the District. The District’s population has officially surpassed the 700,000 mark, with the most recent Census figure estimating a total As the city’s population continues to grow, so too has household of 702,455 residents as of July 2018. The 25-39 year-old age income. ESRI estimates that the median household income in the group, which includes the majority of the Millennial generation, District increased 6% since 2018, and 35% since the 2010 Census, continues to lead population growth among age groups, to $82,381. The figure is projected to increase another 15% to accounting for just under half of all new residents since 2017, and $94,570 by 2024.

DC POPULATION GROWTH BY AGE (2015–2018)

19,725 20,000

15,000

9,387 10,000 8,299

5,000 325 0

-5,000 -7,509 -10,000

Under 18 Years 18-24 years 25-39 years 40-64 years Over 65 Years

Source: Census Bureau, Delta Associates; September 2019.

THE DISTRICT'S MIGRATION PATTERNS (2013–2017) DOMESTIC MIGRATION TO DC (SELECT STATES)

MIGRATED TO DC MIGRATED FROM DC NET GAIN Maryland 12,287 19,984 -7,697 Virginia 8,623 10,617 -1,994 New York 4,339 3,870 469 3.76% California 3,504 4,467 -963 7.95% Pennsylvania 2,113 1,897 216 2.49% Massachusetts 2,051 1,351 700 3.87% 3.65% New Jersey 1,994 875 1,119 3.11% Florida 1,883 1,416 467 22.50% Texas 1,850 1,425 425 15.79% Illinois 1,700 1,089 611 2.88%

> 10% Foreign Nation 10,800 n/a n/a 5%–10% 2.12% 2%–5% Note: list is based on states with highlest levels of migration to DC < 2% Source: U.S. Census Bureau, 2013-2017 American Community Survey

INVESTMENT investment has dropped significantly across the country in light of recent dollar volatility, a reduction in overseas instability, Commercial real estate (CRE) investment activity remains controversial federal policy decisions, and growing sentiment of high in the District, with $5.6 billion worth of commercial real an impending recession. estate transactions occurring over the 12 months ending June 2019, including $1.1 billion worth of multifamily sales and $4.2 Looking ahead, there are several new factors emerging over the billion worth of office sales. However, this figure is about 10% next year that have the potential to dramatically affect commercial lower than total transactions recorded in calendar year 2018. real estate investment in the District. At the forefront is the The District’s 25 opportunity zones saw over $46.5 million in possible near-term onset of a recession. While the District has investment activity over the same period, compared to $48.8 historically been largely economically insulated from the worst million in calendar year 2018. effects of economic downturns, the most recent recession (along with other factors, such as sequestration) proved to be a major The District has been a hotbed of foreign investment activity drag on the city’s CRE market, particularly the office sector. in recent years, particularly for very top-of-the-market trophy Short-term returns for office assets in the District have yet to even assets downtown. However, cross-border CRE investor interest begin to approach the double-digit annual returns seen in the has cooled in 2019, following a surge in prices to stratospheric decade prior to the recession, and have lagged those in most other heights (well over $1,000/SF for select properties) and cap rate gateway cities. Nevertheless, the District’s well-earned reputation compression. Midway through 2019, just under a quarter of CRE as a stable “safe haven” for long-term real estate investment investors in the District were foreign entities, compared to about continues to make it an appealing choice for capital deployment to 40% in 2018. However, the trend is not unique to DC as overseas a broad spectrum of investors.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 9 ECONOMIC OVERVIEW

A more immediate test for the investment market will be an by over 70% from 1.45% to 2.5% for commercial properties increase in CRE-related tax rates that went into effect on valued in excess of $2 million. These changes will directly October 1, particularly increases to the deed recordation and impact the District’s CRE investment market by making it more deed transfer tax rates. Both taxes are each scheduled to increase expensive for investors to acquire property within the city.

COMMERCIAL REAL ESTATE INVESTMENT SOURCES

User/Other

COMMERCIAL REIT

REAL ESTATE Private DEVELOPMENT SOURCES Institutional & Equity Funds

Foreign

0% 10% 20% 30% 40% 50% DISTRICT OF COLUMBIA UNITED STATES

Source: Real Capital Analytics, Delta Associates; September 2019 (Note: Acquisitions only, does not include construction financing).

MOBILITY These new mobility options have already had a positive impact on the District’s commercial real estate industry, primarily by The District and the larger metro area has some of the worst saving developers money on parking construction. In 2016, traffic congestion and longest commutes in the nation, but the District’s Zoning Commission approved a zoning update the arrival of new transportation options in recent years have that lowered the required parking minimums for nearly all greatly expanded mobility for commuters and residents. New new commercial buildings, with further reductions for those services that have appeared over the last decade include Lyft properties within the walkshed of Metro stations. In addition, and Uber ridesharing, Capital Bikeshare, DC Streetcar and, the arrival of ride-sharing has increased the value of multifamily most recently, dockless bicycles, scooters, and mopeds. Rather properties located outside of transit walksheds (but still in dense than fully replacing traditional transportation modes, such as neighborhoods) by becoming more attractive to residents who automobiles, buses, or Metrorail, these new options have taken wish to live car-free. In the long-term, the potential widespread on supplementary and complementary roles, by serving as “first- adoption of fully autonomous vehicles could result in a marked mile/last-mile” and short-trip choices. change in how buildings are designed and where they are located, with possibly lower importance of transit access and parking availability.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 11 DEVELOPMENT OVERVIEW

DEVELOPMENT OVERVIEW

DC DEVELOPMENT GROUNDBREAKINGS (AUGUST 2019, SQ. FT. IN MILLIONS)1 14.4 13.9 13.4 12.7 11.7 11.2 10.6 10.2 10.4 10.5 10.1 10.2 10.5 9.5 9.1

7.5 101 91 93 83 89 86 80 80 78 79 79 65 4.3 654.3 68 50 45 42

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTD

NO. OF PROJECTS TOTAL SF

SUMMARY OF PROJECTS (AUGUST 2019)

PROJECTS SQ. FT. ESTIMATED VALUE ($B)

Completed 1,466 198,493,679 $65.0 2001–2010 805 109,707,199 $31.0

2011–2019 YTD 661 88,786,480 $34.1

2011 54 5,489,253 $2.3 2012 68 7,848,994 $2.5 2013 80 11,619,129 $4.8 2014 71 11,533,842 $4.6 2015 70 6,224,685 $2.6 2016 99 12,870,149 $4.5 2017 85 13,276,702 $5.3 2018 80 11,236,779 $4.1 2019 YTD 54 8,686,947 $3.4

Under Construction 143 28,367,341 $13.9 2019 delivery 57 9,319,374 $3.2 2020 delivery 59 10,261,769 $4.3 2021 delivery 21 4,766,636 $2.3 2022+ delivery 6 4,019,562 $3.8

Pipeline 433 116,523,372 $36.6 Near Term 208 27,661,934 $8.8 Long Term 225 88,861,438 $27.7

Source: Washington DC Economic Partnership Research

1. All projects

PROJECTS COMPLETED (2001–AUGUST 2019) # OF PROJECTS SQ. FT. UNITS ROOMS ¢ Office 293 62,181,621 -- -- ¢ Retail 430 8,965,051 -- -- ¢ Residential 724 79,786,025 80,641 -- 198.5 MILLION ¢ Hospitality 132 20,820,761 -- 19,699 Square Feet Completed ¢ Quality of Life 306 22,443,285 -- --

Total Estimated Value of Projects: $65 billion

PROJECTS UNDER CONSTRUCTION # OF PROJECTS SQ. FT. UNITS ROOMS ¢ Office 24 5,163,807 -- -- ¢ Retail 68 1,740,840 -- -- ¢ Residential 89 16,669,238 17,088 -- 28.4 MILLION ¢ Hospitality 15 1,687,451 -- 1,468 Square Feet Under Construction ¢ Quality of Life 18 2,410,944 -- --

Total Estimated Value of Projects: $13.9 billion

PIPELINE PROJECTS # OF PROJECTS SQ. FT. UNITS ROOMS ¢ Office 99 31,892,489 -- -- ¢ Retail 199 4,984,746 -- -- ¢ Residential 284 54,750,465 62,102 -- 116.5 MILLION ¢ Hospitality 54 4,299,246 -- 6,236 Square Feet in the Pipeline ¢ Quality of Life 62 5,004,795 -- --

Total Estimated Value of Projects: $36.6 billion

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 13 MOST ACTIVE DEVELOPERS, ARCHITECTS & CONTRACTORS

DEVELOPMENT OVERVIEW

The figures below list the developers, architects and contractors that have been the most ¢ Completed active in contributing to DC’s development activity since 2014. ¢ Under Construction ¢ Pipeline MOST ACTIVE DEVELOPERS SINCE 2014 (# OF PROJECTS)4 JBG Smith1 17 6 8 31 Douglas Development 17 5 5 27 Brookﬁeld Properties2 10 2 9 21 WC Smith 10 6 5 21 Jair Lynch Real Estate Partners 8 4 4 16 MRP Realty 5 3 8 16 If measured by sq. ft. of projects the most active developers include JBG Smith (11.2M sq. ft.), Brookfield Properties (11.0M sq. ft.), Akridge (7.3M sq. ft.), MRP Realty (6.6M sq. ft.), and Urban Atlantic (6.4M sq. ft.).

MOST ACTIVE ARCHITECTS SINCE 2014 (# OF PROJECTS)4 Shalom Baranes Associates 17 6 16 39 Bonstra | Haresign Architects 14 5 18 37 Torti Gallas + Partners3 11 9 16 36 PGN Architects 12 7 13 32 Eric Colbert & Associates 19 6 6 31 WDG Architecture 15 10 6 31 If measured by sq. ft. of projects the most active architects include Shalom Baranes Associates (21.2M sq. ft.), Perkins Eastman DC, (13.9M sq. ft.), WDG Architecture, (13.0M sq. ft.), Torti Gallas + Partners, (12.6M sq. ft.), and SK+I Architectural Design Group, (10.4M sq. ft.)

MOST ACTIVE GENERAL CONTRACTORS SINCE 2014 (# OF PROJECTS) 4 Clark Construction Group 37 10 4 51 Hamel Builders 18 5 4 27 Gilbane Building Company 13 4 7 24 Grunley Construction 18 3 3 24 MCN Build 19 2 1 22 James G. Davis Construction Co. 15 6 1 22 If measured by sq. ft. of projects the most active contractors include Clark Construction Group (17.0M sq. ft.), Balfour Beatty (6.8M sq. ft.), Bozzuto Construction (5.8M sq. ft.), James Davis Construction Corporation (5.7M sq. ft.), and Grunley Construction (5.5M sq. ft.).

1. Includes projects developed as The JBG Companies. 2. Includes projects developed as Forest City Washington. 3. Includes Torti Gallas Urban projects 4. Projects completed since January 2014, under construction or in the pipeline as of August 2019 (excludes government agencies and colleges/universities). Only companies with 10 or more projects since 2014 are included in sq. ft. calculations.

The Bower, Washington, DC

AC Hotel by Marriott, Washington, DC 100 K Street NE, Washington, DC

Midtown Center, Washington, DC Sursum Corda, Washington, DC www.wdgarch.com Washington DC Dallas TX DEVELOPMENT SECTOR

DEVELO PMENT DEVELO PMENT BY SECTOR

OFFICE RETAIL RESIDENTIAL HOSPITALITY QUALITY OF LIFE

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OFFICE DEVELOPMENT IN WASHINGTON, DC

Image courtesy of Gould Property Group By: Jonathan Chambers, Vice President, Delta Associates

The District of Columbia’s office market has continued to experience positive, but uneven growth. The private sector has been even more influential for office growth in 2019, as GSA has remained on the sidelines of the marketplace.

OFFICE INVENTORY 1 NET ABSORPTION 1 DIRECT VACANCY RATE 1 AVERAGE FACE RENT 1 108.5M 806,000 12.0% $56.13 Square Feet (Q3 2019) Square Feet (Q4 2018–Q3 2019) (Q3 2019) Per Square Foot (Q3 2019)

Strong hiring in the Professional and Business Services sector, Net absorption of office space in the District has oscillated which includes the consulting, tech, and coworking industries, significantly over the past year, but has overall been positive. in particular has driven the market forward. Combined with Total absorption in the District of Columbia from Q4 2018 to Information, the two sectors added a total of 3,600 new jobs in the Q3 2019 totaled 806,000 SF. The Capitol Hill-Riverfront/NoMa District over the 12 months ending August 2019. During the same submarket again led with 502,000 SF of positive absorption period, the Federal Government contracted by 100 positions. over the 12-month period, while the Uptown submarket was

GROWTH OF OFFICE-USING EMPLOYMENT SECTORS2 (2007–2019)

TOTAL: 600 -1,500 10,100 4,600 -500 -1,600 -5,100 5,600 5,400 1,100 0 3,500

10000

8000

6000

4000

2000

-2000

-4000

-6000

-8000 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 20193

Federal Government Financial Activities Information Professional & Business Services

1. REIS, Delta Associates; September 2019 (does not include owner-occupied buildings) 2. BLS, Delta Associates; September 2019 3. 12 months ending August 2019

TOP NEW OFFICE LEASES (Q3 2018–Q2 2019)

TENANT PROPERTY ADDRESS SUBMARKET SQ. FT. INDUSTRY TIMEFRAME Consulting/ Chemonics 1275 New Jersey Ave., SE Capitol Riverfront 300,000 Q4 2018 Contracting

Williams & Connolly LLP 690 Maine Ave., SW Southwest 292,000 Legal Q4 2018

University of the District of Columbia 4250 Connecticut Ave., NW Uptown 202,000 Education Q4 2018

WeWork 1333 New Hampshire Ave., NW CBD 130,000 Coworking Q4 2018

WeWork 200 Massachusetts Ave., NW East End 111,000 Coworking Q2 2018

WeWork 1100 15th St., NW CBD 110,000 Coworking Q1 2019

WeWork 1701 Rhode Island Ave., NW CBD 104,000 Coworking Q2 2019

Convene 600 14th St., NW East End 79,800 Coworking Q1 2019

Convene 575 Seventh St., NW East End 72,400 Coworking Q1 2019

WeWork 700 K St., NW East End 66,500 Coworking Q4 2018

CBRE 1900 N St., NW CBD 55,000 Real Estate Q4 2018

EIG Global Energy Partners 600 New Hampshire Ave., NW West End 51,000 Energy Q1 2019

SmithBucklin 2001 K St., NW CBD 50,000 Legal Q3 2019

CommonGrounds Workplace 99 M St., SE Capitol Riverfront 44,200 Coworking Q3 2019

National Association of Manufacturers 733 10th St., NW East End 42,000 Advocacy/Lobbying Q2 2019

Beveridge & Diamond 1900 N St., NW CBD 41,000 Legal Q4 2018

Consulting/ Pact 1140 3rd St., NE NoMa 40,000 Q2 2019 Contracting

SoundExchange 733 10th St., NW East End 39,000 Advocacy/Lobbying Q2 2019

Business Roundtable 1000 Maine Ave., SW Southwest 30,500 Advocacy/Lobbying Q4 2018

Michael Best & Friedrich LLP 1000 Maine Ave., SW Southwest 30,400 Legal Q4 2018

Source: Delta Associates; September 2019. easily the worst performer with -609,000 SF of absorption. decade. As of Q3 2019, the District’s direct vacancy rate stood at Notably, Uptown was hit by the relocation of Fannie Mae 12.0%, 120 basis points higher than a year prior. The ongoing glut to a new headquarters at Midtown Center in the CBD. The of new construction is mostly to blame for rising vacancy. Although District’s Class A sector has led the overall market in positive total private-sector office construction activity has dipped from its growth as the “flight-to-quality” continues, with 1.1 million SF post-recession peak of over six million SF at the end of 2017, the of space absorbed over the 12-month period ending Q3 2019. pipeline remains very robust with 4.1 million SF underway as of Q3 Comparatively, Class B/C properties struggled with -300,000 SF 2019. Tenants continue to demand newer, more-efficient, and better- of net absorption over the same timeframe. amenitized space, and developers continue to build new product to meet this demand; however, these new spaces are paired with very Even with positive absorption, office vacancy in the District generous incentives. Average tenant improvement packages in the continues to climb, as it has almost consistently for nearly half a District have effectively doubled over the past five years.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 21 OFFICE DEVELOPMENT

Most office construction activity is concentrated in the rapidly- of tenants, from federal agencies to coworking operators to legal growing submarkets outside the core, east and south of the firms to their projects which offer 24/7 live/work/shop/play Center Leg and SE-SW freeways, respectively. The NoMa, mixed-use environments along with other unique amenities, Capitol Riverfront, and Southwest districts have added millions such as water views in Southwest and Capitol Riverfront and of SF of new office product over the past decade. Developers in quick access to a myriad of transportation options at Union these neighborhoods have managed to attract a broad spectrum Station in NoMa.

SUBMARKET TENANT RELOCATIONS (2015–2019)

TENANT PREVIOUS SUBMARKET NEW SUBMARKET IMPACT (SF)

Chemonics International CBD Capitol Riverfront 300,000

Fannie Mae Uptown CBD 752,000

Goodwin Procter LLP East End CBD 80,000

GSA/Corp. for National and Community Serv. East End Southwest 85,000

GSA/Federal Communications Commission Southwest NoMa 473,000

GSA/Bureau of Prisons East End Southwest 113,300

GSA/Dept. of Homeland Security: OIG East End Southwest 88,000

GSA/Dept. of Justice East End NoMa 839,000

GSA/Federal Election Commission East End NoMa 100,000

GSA/Pension Benefit Guaranty Corp. East End Southwest 431,800

GSA/U.S. Peace Corps. CBD NoMa 173,000

Paul Hastings LLP East End CBD 97,000

The Aspen Institute CBD West End 91,000

Universal Service Administrative Co. CBD East End 102,000

Urban Institute CBD Southwest 121,000

Williams & Connolly LLP East End Southwest 290,000

Source: REIS, Delta Associates; September 2019.

Unfortunately, much of the tenant roster for new office space tenants moving to other District submarkets. GSA has been in these nascent submarkets was lured from the District’s especially active in moving tenants out of the submarket. As traditional core submarkets, specifically the CBD and East a result, the office vacancy rate in the East End has increased End. The East End has been especially beset by relocations, roughly 50% over the past decade to 12.3% as of Q3 2019. with well over a million SF vacated over the past few years by

One of the primary weaknesses of the CBD and East End are rents typically include the following amenities: conference their large inventories of lower-quality Class B product, which rooms, indoor and outdoor rooftop space, glass curtain walls, has struggled to compete in an era when tenants rely heavily on LEED certification, double- or triple-height lobbies, open amenities to recruit the best talent. Owners have come to the floorplans, and fitness facilities. realization that in order to be competitive, comprehensive asset renovations or redevelopment is necessary. Unsurprisingly, the In addition to the Class A/Class B office supply-demand entire office pipeline in the CBD and East End is composed imbalance, another incongruity lies within the buildings of office projects that are either complete redevelopments themselves. As new office buildings deliver to market, space on of demolished Class B office buildings or office buildings higher floors has been leasing much quicker than space on lower undergoing complete gutting and rebuild programs, even floors. This is especially true in buildings with skyline, landmark, for 80’s- and 90’s- vintage “B+” assets. 1901 L Street NW is or water views. Some ways that owners have overcome this undergoing a combination of both strategies, with a renovation obstacle has been to offer greater concessions on lower floors, of all eight pre-existing floors and the addition of three new enhance lower floor views with attractive landscaping or art, floors of office space. The repositioning/renovations that provide private terraces to tenants, build lower floors with successfully draw tenants willing to pay top-of-the-market higher ceilings, or target lower floors for smaller “spec suites.”

DC OFFICE LEASING CONCESSIONS METRICS (CLASS A/B/C BUILDINGS)

8.0 $100.00

7.0

6.4

6.0 $82.31

$80.00

5.0 $ PER SQ. FT.

4.0 3.8

TIME MONTHS/YEARS 3.0 $60.00

2.0

1.0

0.0 $40.00 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019

Avg. Months of Free Rent Avg. Lease Term (years) Avg. Tenant Improvement Package/SF

Source: REIS, Delta Associates; September 2019.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 23 OFFICE DEVELOPMENT

Leasing activity in the District for new office space continues to be dominated by the private sector. Nearly all of the largest new leases signed over the past year came from private sector tenants. The coworking industry continues to be particularly active, with providers signing larger and larger leases. WeWork is the clear market leader in the coworking space, and has grown to become the largest single private tenant in both the District of Columbia and Manhattan, New York. The firm currently holds leases of over one million SF at 16 locations in the District, including half a million SF in leases executed for five new locations over the past year. However, a lot of questions have surfaced regarding the coworking giant’s long-term solvency and whether its meteoric growth is sustainable, especially in light of the recent IPO debacle. To a lesser extent, the same concerns extend to other coworking firms, including industry pioneer Regus, and newcomers MakeOffices, Spaces, Convene, CommonGrounds, and Industrious, among other independently-owned and operated providers.

SUBMARKET DATA

NET ABSORPTION Q4 2018-Q3 2019 ASKING RENT Q3 2019 CONSTRUCTION ACTIVITY SUBMARKET CLASS A CLASS B/C CLASS A CLASS B/C DELIVERED UNDER CONSTRUCTION 2015–Q3 2019 Q3 2019

CBD 133,000 -13,000 $56.81 $44.35 1,340,600 1,240,900

East End 744,000 51,000 $59.41 $51.80 2,360,200 155,000

Capitol Hill-Riverfront/NoMa 532,000 -30,000 $66.42 $49.88 3,331,500 2,002,000

Southwest 233,000 -96,000 $49.86 $45.56 735,000 600,100

Georgetown -26,000 -42,000 $56.17 $50.32 0 0

West End -182,000 111,000 $51.49 $37.84 0 0

Uptown -328,000 -281,000 $64.66 $56.32 112,000 68,000

District of Columbia Total/Average 1,106,000 -300,000 $60.90 $48.86 7,879,300 4,066,000

Source: REIS, Delta Associates; September 2019.

Looking ahead, stakeholders can expect continued positive the impact has been uneven between submarkets, with growth, but at a more moderate pace as the economy the East End suffering the most. The District is also the slows. The federal government, and specifically the 2020 most susceptible of its peers to the Trump administration’s presidential and congressional elections, remains the biggest initiative to relocate federal agencies outside of the region. concern for the office market in the near future. GSA-leased The Bureau of Land Management and two USDA agencies inventory continues to shrink across the Capital Region and scheduled for relocation will leave a 369,000 SF-sized hole in the District has borne the brunt of the reductions. However, the District’s office market. 

OFFICE DEVELOPMENT GROUNDBREAKINGS COMPLETED PROJECTED (AUGUST 2019, OFFICE SQ. FT. IN MILLIONS) PRIVATE GOVT PRIVATE GOVT PRIVATE GOVT

2002 3.3 0.8 4.1 2002 3.0 3.0 2003 2.2 0.6 2.9 2003 2.8 2.8 2004 4.9 0.4 5.3 2004 2.0 1.2 3.2 2005 2.8 1.4 4.2 2005 3.6 3.6 2006 3.8 0.4 4.1 2006 4.4 1.5 5.9 2007 4.7 4.7 2007 3.7 0.6 4.3 2008 3.0 0.5 3.5 2008 2.0 1.2 3.2 2009 0.9 1.1 2.0 2009 5.6 0.4 6.0 2010 0.7 2.8 3.4 2010 2.7 0.7 3.4 2011 1.3 0.4 1.7 2011 1.2 0.8 2.0 2012 1.3 0.4 1.7 2012 0.8 1.0 1.8 2013 1.1 0.2 1.2 2013 2.0 2.1 4.1 2014 3.0 0.9 3.9 2014 0.9 1.0 1.9 2015 1.8 0.7 2.4 2015 0.6 0.1 0.7 2016 2.7 0.3 3.0 2016 2.0 0.3 2.2 2017 2.5 0.2 2.7 2017 1.3 0.8 2.1 2018 1.0 0.2 1.2 2018 2.9 0.3 3.1 2019 YTD 1.4 0.2 1.6 2019* 3.7 0.5 4.2 2020* 1.0 0.6 1.5 2021* 0.7 0.7

*projections based on targeted delivery dates of projects under construction as of August 2019

OFFICE DEVELOPMENT (AUGUST 2019)

PROJECTS OFFICE SQ. FT. COMPLETED (SINCE 2001) 293 62,181,621 2009 21 6,033,060 2010 10 3,408,455 2011 8 1,987,719 2012 9 1,818,359 2013 20 4,127,439 2014 11 1,925,674 2015 4 651,500 2016 19 2,211,006 2017 11 2,125,785 2018 15 3,139,202 2019 YTD 12 2,395,514

UNDER CONSTRUCTION 24 5,163,807 2019 DELIVERY 8 1,772,582 2020 DELIVERY 7 1,547,200 2021+ DELIVERY 9 1,844,025

PIPELINE 99 31,892,489 NEAR TERM 41 4,358,907 LONG TERM 58 27,533,582

TOTAL 416 99,237,917

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 25 ■ COMPLETED ■ UNDER CONSTRUCTION ■ PIPELINE

SOUTH DAKOTA AVE

MASSACHUSETTS AVE

CONNECTICUT AVE

GEORGIA AVE

ROCK CREEK PARK 14TH ST.

U ST.

RHODE ISLAND AVE

G E O R G E W A S NEW YORK AVE H IN G T O N M E M O R IA L P K W Y 10 31 18 27 16 17 21 23 11 6 1 2 8 22 13 H ST. VIRGINIA 15 UNION 66 14 4 STATION 9

NATIONAL MALL E. CAPITOL ST. VIRGINIA U.S. CAPITOL 20 29 19 5

FORT DUPONT 12 PARK 26 24 M ST.

NATIONALS PARK 7 PENNSYLVANIA AVE

395 25

M . E 1 V A

. R J

M G

R 3 E

M NATIONAL H

AIRPORT T

N I

A Alexandria M 28 30

ALABAMA AVE

All project locations are approximate. OFFICE DEVELOPMENT PIPELINE

EST. VALUE 2 PROJECT WARD LOCATION DEVELOPER(S) OFFICE SF ($M) 1 DELIVERY

TOP OFFICE PROJECTS COMPLETED (Q3 2018–AUGUST 2019)

1 655 New York Avenue 6 655 New York Ave., NW Douglas Development Corporation / 653,500 $185 Q1 19 Brookfield Properties 2 Four Constitution Square 6 150 M St., NE Stonebridge Associates / 505,000 $250 Q2 19 Walton Street Capital 3 Center Building (DHS HQ) 8 St. Elizabeths West Campus General Services Administration 276,000 $268 Q2 19 4 One Freedom Plaza 2 1301 Pennsylvania Ave., NW Quadrangle Development 270,040 Q1 19 5 500 L'Enfant Plaza 6 500 L'Enfant Plaza, SW JBG Smith 215,200 $75 Q4 18 6 1441 L Street 2 1441 L St., NW S.C. Herman & Associates 207,000 $36 Q1 19 7 DC Water HQ 6 125 O St., SE DC Water 151,300 $60 Q4 18 8 2100 K Street 2 2100 K St., NW Blake Real Estate 150,000 Q1 19 9 U.S. Department of Commerce 2 1401 Constitution Ave., NW General Services Administration 109,800 $83 Q3 18 - Herbert Hoover Building (Ph IV) 10 1701 Rhode Island Avenue 2 1701 Rhode Island Ave., NW Akridge 100,000 $90 Q1 19 11 1101 16th Street 2 1101 16th St., NW Akridge 100,000 $95 Q1 19

TOP OFFICE PROJECTS UNDER CONSTRUCTION

12 The Wharf (Phase II) 6 Southwest Waterfront Hoffman & Associates / Madison Marquette 547,504 $1,200 Q3 22 13 Sentinel Square III 6 45 L St., NE Trammell Crow Company 545,000 $250 Q2 20 14 250 Massachusetts Avenue 2 250 Massachusetts Ave., NW Property Group Partners 507,764 $275 Q4 19 15 2100 Pennsylvania Avenue 2 2100 Pennsylvania Ave., NW Boston Properties / George Washington 423,562 $360 Q2 22 University 16 2050 M Street 2 2050 M St., NW Tishman Speyer 353,200 Q4 19 17 1900 N 2 1900 N St., NW JBG Smith 259,000 $230 Q4 19 18 Signal House 5 350 Morse St., NE Carr Properties 214,000 $135 Q1 21 19 Cannon House Office Building 6 27 Independence Ave., SE Architect of the Capitol 206,500 $188 Q3 19 Renewal (Ph I) 20 Cannon House Office Building 6 27 Independence Ave., SE Architect of the Capitol 206,500 $188 Q4 20 Renewal (Ph II) 21 1901 L Street 2 1901 L St., NW The Meridian Group 202,000 Q4 19

TOP OFFICE PROJECTS PIPELINE

22 900 New York Avenue 2 900 New York Ave., NW Gould Property Company / 575,000 $250 Oxford Properties Group 23 1700M 2 1700 M St., NW JBG Smith 315,435 2021/22 24 The Yards (Parcel G) 6 1275 New Jersey Ave., SE Brookfield Properties 290,422 25 Reunion Square (Building 4) 8 Shannon Place & W St., SE Four Points / Curtis Development 281,242 2022 26 25 M 6 25 M St., SE Akridge / Brandywine Realty Trust 223,000 $85 27 South Building (Union Market) 5 1309 5th St., NE EDENS 222,255 $92 28 Saint Elizabeths East (Phase I) 8 Saint Elizabeths East Campus Redbrick LMD / Gragg Cardona Partners / 220,000 $200 2022 DMPED 29 300 7th Street 6 300 7th St., SW Jair Lynch Real Estate Partners 203,414 $122 2021/22 30 Saint Elizabeths East Parcel 15 8 Saint Elizabeths East Campus Redbrick LMD / Gragg Cardona Partners 200,000 $219 2023 31 Embassy of Australia 2 1601 Massachusetts Ave., NW Commonwealth of Australia 133,244 $237 2022

1) may include non-office components & pipeline values may include additional phases ($ in millions) 2) delivery date may reflect phase I delivery or final phase delivery for pipeline projects.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 27 DEVELOPMENT HIGHLIGHTS Image courtesy of Four Points

WARD 6 WARD 8

655 NEW YORK AVENUE REUNION SQUARE (BUILDING 4)

LOCATION: 655 New York Avenue, NW LOCATION: Shannon Place & W Street, SE DEVELOPER(S): Douglas Development / Brookfield Properties DEVELOPER(S): Four Points / Curtis Development ARCHITECT(S): Shalom Baranes Associates ARCHITECT(S): Hickok Cole Architects CONTRACTOR(S): James G. Davis Construction Corp. CONTRACTOR(S): James G. Davis Construction Corp. LEED: Gold EST. VALUE: $185 million LEED: Gold STATUS: Completed STATUS: Near Term TARGETED DELIVERY: Q1 2019 TARGETED DELIVERY: Q2 2022

SPECS: 655 New York Avenue offers 653,000 sq. ft. of office space and up to SPECS: Building 4 is part of the 1.57 million sq. ft. Reunion Square development. It 80,500 sq. ft. of retail space. WeWork has leased 100,000+ SF of office space in will consist of 281,000 sq. ft. of office space and 6,600 sq. ft. of retail space. the building and the retail is anchored by Leon Restaurants, Compass Coffee, and Rumi’s Kitchen. The site is an assembly of 19 historic buildings that were incorporated into the overall development.

WARD 2 WARD 2

1701 RHODE ISLAND AVENUE 250 MASSACHUSETTS AVENUE

LOCATION: 1701 Rhode Island Avenue, NW LOCATION: 250 Massachusetts Avenue, NW DEVELOPER(S): Akridge DEVELOPER(S): Property Group Partners ARCHITECT(S): Hickok Cole Architects ARCHITECT(S): Kevin Roche John Dinkeloo & Associates CONTRACTOR(S): Whiting-Turner Contracting CONTRACTOR(S): Balfour Beatty EST. VALUE: $90 million LEED: Platinum EST. VALUE: $275 million STATUS: Completed STATUS: Under Construction TARGETED DELIVERY: Q1 2019 TARGETED DELIVERY: Q4 2019

SPECS: The former YMCA building was transformed into a 100,000 sq. ft. SPECS: 250 Massachusetts Avenue is a 12-story, 566,000 sq. ft. trophy office boutique office building leased entirely to WeWork. The new building features building with up to 58,000 sq. ft. of retail space. It is located on the north block four sides of floor-to-ceiling glass with a range of amenities including a of Capitol Crossing, a three-block, 2.2 million sq. ft. mixed-use development that landscaped rooftop terrace and conference facilities. will be built above I-395. The office buildings are designed for LEED Platinum and the entire project will feature an on-site co-generation and stormwater treatment facility.

WARD 2 WARD 6

1900 N SENTINEL SQUARE III

LOCATION: 1900 N Street, NW LOCATION: 45 L Street, NE DEVELOPER(S): JBG Smith DEVELOPER(S): Trammell Crow Company ARCHITECT(S): Kohn Pedersen Fox & Associates ARCHITECT(S): SmithGroup CONTRACTOR(S): Harvey Cleary Builders CONTRACTOR(S): Clark Construction Group / Rand Construction LEED: Gold LEED: Silver EST. VALUE: $250 million STATUS: Under Construction STATUS: Under Construction TARGETED DELIVERY: Q4 2019 TARGETED DELIVERY: Q2 2020

SPECS: 1900 N is an 11-story, 271,400 sq. ft. office building with up to 10,000 sq. SPECS: The third building of the 1.3 million sq. ft. Sentinel Square development ft. of retail space. The building features an 8,000 sq. ft. indoor/outdoor rooftop will be an 11-story, 556,000 sq. ft. office building, anchored by the Federal amenity space. Goodwin Procter is the lead tenant leasing 80,000 sq. ft. The Communications Commission, with 11,000 sq. ft. of retail space. Phase I unique steel truss and cable suspension system supports a third of the building delivered in 2010 and Phase II delivered in 2013. and allows for a triple-height, entirely column-free lobby experience. Image courtesy of Gould Property Company Image by Tomorrow AB, courtesy of Carr Properties & Gensler

WARD 2 WARD 5

900 NEW YORK AVENUE MARKET TERMINAL (SIGNAL HOUSE)

LOCATION: 900 New York Avenue, NW LOCATION: 350 Morse Street, NE DEVELOPER(S): Oxford Properties Group / Gould Property Company DEVELOPER(S): Carr Properties ARCHITECT(S): Pick ard Chilton / Kendall Heaton Associates ARCHITECT(S): Gensler LEED: Platinum EST. VALUE: $250 million CONTRACTOR(S): John Moriarty & Associates STATUS: Long Term LEED: Gold EST. VALUE: $135 million STATUS: Under Construction SPECS: 900 New York Avenue will be a 610,000 sq. ft. office building with 30- TARGETED DELIVERY: Q1 2021 40,000 sq. ft. of retail space. The building is planned around an indoor/outdoor garden feature that will flood the building with natural sunlight and feature a SPECS: Signal House (350 More Street, NE) will be an 11-story, 225,000 sq. ft. 150-foot glass atrium. office building with 11,000 sq. ft. of retail. Market Terminal is a 4.9-acre site that encompasses 300, 325, and 350 Morse Street, NE. The site will be redeveloped by Kettler, Carmel Partners, Grosvenor, and Carr Properties into a 1.4 million sq. ft. mixed-use project with 435,600 sq. ft. of office, 1,074 residential units, and 54,700 sq. ft. of retail.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 29 DEVELOPMENT HIGHLIGHTS Image courtesy of Monument Realty

WARD 6 WARD 6

1 M STREET 300 7TH STREET

LOCATION: 1 M Street, SE LOCATION: 300 7th Street, SW DEVELOPER(S): Monument Realty DEVELOPER(S): Jair Lynch Real Estate Partners ARCHITECT(S): HOK ARCHITECT(S): Studios Architecture CONTRACTOR(S): Lendlease CONTRACTOR(S): Gilbane Building Company LEED: Gold LEED: Gold STATUS: Under Construction STATUS: Near Term TARGETED DELIVERY: Q4 2019 TARGETED DELIVERY: Q4 2021

SPECS: 1 M Street will be an 11-story, 131,000 sq. ft. office building with 4,100 sq. SPECS: The existing 149,700 sq. ft. class B office building (aka Reporter's Building) ft. of ground floor retail space. It will be the new home for the 150-employee will be stripped to its structural concrete, reskinned, and completely renovated for National Association of Broadcasters (NAB). the new headquarters for WMATA. There is also the possibility that three floors (20,000 sq. ft. per floor) will be added to the top of the building as the site has a redevelopment potential of up to 379,260 sq. ft. Image courtesy of WC Smith

WARD 6 WARD 6

250 M AT CANAL PARK FOUR CONSTITUTION SQUARE

LOCATION: 250 M Street, SE LOCATION: 150 M Street, NE DEVELOPER(S): WC Smith DEVELOPER(S): Stonebridge Associates / Walton Street Capital ARCHITECT(S): Hickok Cole Architects ARCHITECT(S): HOK CONTRACTOR(S): HITT CONTRACTOR(S): Balfour Beatty LEED: Silver EST. VALUE: $125 million LEED: Platinum EST. VALUE: $250 million STATUS: Under Construction STATUS: Completed TARGETED DELIVERY: Q1 2021 TARGETED DELIVERY: Q2 2019

SPECS: 250 M at Canal Park will be a 189,000 sq. ft. Class A office building with SPECS: Four Constitution Square, the final phase of the 2.7 million sq. ft. 7,400 sq. ft. of ground floor retail. It will be the new headquarters for the District Constitution Square mixed-use development, is 100% occupied by the U.S. Department of Transportation (DDOT). DOJ (4,800 employees across 1.4M sq. ft. in the development). Three & Four Constitution Square are connected on floors one through six, creating one 860,000 sq. ft. building.

WARD 2 WARD 2

2100 PENNSYLVANIA AVENUE ONE FREEDOM PLAZA

LOCATION: 2100 Pennsylvania Avenue, NW LOCATION: 1301 Pennsylvania Avenue, NW DEVELOPER(S): Boston Properties / George Washington University DEVELOPER(S): Quadrangle Development ARCHITECT(S): Pelli Clarke Pelli Architects / WDG Architects ARCHITECT(S): JAHN CONTRACTOR(S): Balfour Beatty CONTRACTOR(S): Hensel Phelps Construction Company LEED: Gold EST. VALUE: $360 million STATUS: Completed STATUS: Under Construction TARGETED DELIVERY: Q1 2019 TARGETED DELIVERY: Q2 2022 SPECS: The previous 225,000 sq. ft. office building on the site was demolished SPECS: The 2100 Pennsylvania Avenue development consists of a 454,000 sq. and a new 13-story, 283,000 sq. ft. office building with 13,000 sq. ft. of retail space ft. trophy office building with 30,000 sq. ft. of neighborhood-serving retail. (fronting 13th Street) was built in its place. Kirkland & Ellis LLP's 200-attorney The building will have two wings interconnected by a central atrium space. DC office is the anchor tenant. WilmerHale is the anchor tenant leasing about 288,000 sq. ft. of office space. Image courtesy of CoStar

WARD 2 WARD 2

699 14TH STREET AMERICAN GEOPHYSICAL UNION HQ

LOCATION: 699 14th Street, NW LOCATION: 2000 Florida Avenue, NW DEVELOPER(S): Pearlmark Real Estate / Lincoln Property Company DEVELOPER(S): American Geophysical Union ARCHITECT(S): Shalom Baranes Associates ARCHITECT(S): Hickok Cole Architects CONTRACTOR(S): Manhattan Construction Company CONTRACTOR(S): Skanska USA Building LEED: Gold LEED: Platinum EST. VALUE: $42 million STATUS: Under Construction STATUS: Completed TARGETED DELIVERY: Q3 2020 TARGETED DELIVERY: Q1 2019

SPECS: The historic National Bank of Washington building will be restored SPECS: The headquarters for the American Geophysical Union went through and renovated and a 149,000 sq. ft. office building addition will be built on the a full-building renovation with the goal of becoming a net-zero building. The adjacent lot. There is up to 25,000 sq. ft. of retail space available. upgrades include a solar array on the roof, a green wall, a municipal sewer heat exchange system, and auto-tinting Sage Glass.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 31 DC BizCAP—Funding Your Small Businesses. Helping You Succeed.

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RETAIL DEVELOPMENT IN WASHINGTON, DC

Image courtesy of EDENS By: Jonathan Chambers, Vice President, Delta Associates

The District of Columbia’s retail market continues to be healthy, driven by a growing and wealthier population. Taxable retail and restaurant sales totaled $15.6 billion in fiscal year 2018, a solid 8.8% increase over fiscal year 2017.

2018 TAXABLE RETAIL & RESTAURANT SALES1 RETAIL DELIVERIES IN 20192 POPULATION GROWTH3 NEW GROCERY STORES4 $15.6B 900K 16.1% 41 8.8% increase from 2017 Square Feet 2010–2018 Since 2000— 9 more in the pipeline

The vast majority of retail openings in the current cycle have Two of the top three leases so far in 2019 were from rapidly been concentrated in neighborhoods with the greatest amount of expanding discount grocers Lidl and Aldi, both of which signed new development, such as Capitol Riverfront, Southwest, Union leases for new stores in emerging submarkets. Lidl will open Market, and H Street, NE. a 29,100 SF store at Skyland Town Center in Hillcrest where Walmart was previously committed to opening, and Aldi will While 2019 didn’t see a wave of leases from national chains that open at the growing ART Place at Fort Totten development. were very active in 2017/2018—Apple, Target, Wegmans, Capital Importantly, both grocery stores will be located in two of the One, etc.—there was still plenty of retail leasing activity in the District’s largest healthy food priority areas—neighborhoods that District, particularly from established local restaurateurs. In have limited access to healthy foods and heavy concentrations of addition, wildly popular chains Wawa and Chick-fil-A also signed low-income residents. leases for additional locations.

TOP 10 NEW RETAIL LEASES (Q4 2018–Q3 2019)

TENANT PROPERTY ADDRESS NEIGHBORHOOD SIZE (SF) PERIOD

24 Hour Fitness 5180 South Dakota Ave., NE Fort Totten 40,000 Q1 2019 Lidl Alabama Ave. & Good Hope Rd., SE Hillcrest / Skyland 29,100 Q2 2019 Aldi South Dakota Ave. & Hamilton St., NE Fort Totten 20,800 Q1 2019 Union Kitchen Q St., NE Eckington 20,800 Q4 2018 Bynd Fitness 650 F St., NW Downtown (Penn Quarter) 17,000 Q1 2019 Ferza Food Hall 800 K St., NW Downtown (Mt. Vernon Square) 17,000 Q3 2019 Buzzard Point Seafood Restaurant 2100 2nd St., SW Capitol Riverfront (Buzzard Point) 12,800 Q4 2018 Cranes 724 Ninth St., NW Penn Quarter 11,000 Q2 2019 Cheesecake Factory 1426 H St., NW Downtown 10,200 Q3 2019 Ruth's Chris Steak House 2001 K St., NW Golden Triangle 9,200 Q4 2018

Source: Delta Associates, Washington DC Economic Partnership, Washington Business Journal; September 2019..

1. Office of the Chief Financial Officer (FY 2020 Proposed Budget & Financial Plan). Year denotes fiscal year (October–September). Taxable retail & restaurant sales include retail, liquor & restaurant sales (categories are based on tax rates and may include other categories). 2. Washington DC Economic Partnership (August 2019, projections based on projects under construction). 3. Census Bureau, Population Division 4. Washington DC Economic Partnership (October 2019)

The onslaught of retail chain bankruptcies continued in 2019, With the struggles of brick-and-mortar chains, developers with mainstays like Forever 21, Payless ShoeSource, Gymboree, are leaning heavily on dining establishments to fill their retail and Charlotte Russe announcing hundreds of store closures. space. With more than 1.7 million SF of retail space under The District, which has very few box-store power centers and construction in the District, competing for dining tenants is enclosed shopping malls, fortunately has limited direct exposure becoming increasingly challenging. One increasingly popular to these closures, but their impact is certainly felt as many concept that local developers have embraced is the food residents travel to neighboring suburbs to shop. This creates hall—an indoor, often themed, collection of casual, counter- an opportunity for smaller-footprint, more resilient retailers serve restaurants. Compared to traditional mall “food courts,” to capture this demand, even as online shopping surges. One food halls typically have high-quality, more expensive niche trend that has been growing is that of experiential, showroom, offerings from independent vendors (as opposed to chains) and pop-up retail. These types of outlets expose and familiarize and often sell alcoholic beverages. The food hall craze has consumers with products in a carefully curated environment certainly caught on in the District, with three announced over to build brand awareness and loyalty. Examples in the District the past year: Benning Market in River Terrace, Ferza Food include the recently opened Apple store in Mount Vernon Hall downtown, and La Cosecha at Union Market. However, it Triangle/Downtown, the Amazon Books store in Georgetown, remains to be seen if the food hall trend will hold, and whether the ModCloth store on U Street, the Focals pop-up shop at The the market is already saturated. Wharf, and multiple Xfinity stores.

RESTAURANT ESTABLISHMENT ANNUAL GROWTH

4.9% 5%

3% 2.2% 2% 1.4% 1%

-1%

-2%

-3%

-4% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

District DC Metro U.S.

Source: BLS (Quarterly Census of Employment and Wages), restaurants defined as NAICS 722 Food services and drinking places.

The District resident consumer profile has not changed radically services than the average American. However, District residents since a year ago. On average, District residents annually spend still spend slightly less in all five categories than the average about 47% more for food, 51% more on apparel and services, Washington metro consumer. 38% more on entertainment, and 38% more on personal care and

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 35 RETAIL DEVELOPMENT

AVG. HOUSEHOLD CONSUMER EXPENDITURES (2019)

$8,000 $7.8K $7.4K $7,000

$6,000 $5.7K $5.4K $5.2K $4.9K $5,000 $4.5K

$4,000 $3.7K $3.2K $3.4K $3.3K $3,000 $2.1K $2,000 $1.2K $1.4K $1,000 $887

$0 APPAREL & SERVICES ENTERTAINMENT/RECREATION FOOD AT HOME FOOD AWAY PERSONAL CARE FROM HOME PRODUCTS & SERVICES

District of Columbia Avg. DC metro Avg. U.S. Avg. Source: Esri forecasts for 2019

In terms of changing tastes and needs, District consumers are tend to pay the highest rents, so the ongoing footprint reduction mostly in line with the typical American. Two notable exceptions could begin to weigh on the values of some properties, especially are organic food consumption and pet ownership. Organic food older retail-only assets.  consumers rose to 34% in the District from 32% a year ago (the share of organic food consumers in the U.S. remained steady at CONSUMER PROFILE (SEPTEMBER 2019) 24%), and the number of households in the District with pets PERCENT OF RESIDENTS grew to 37% from 31% a year ago (U.S. pet ownership remained steady at 55%). DISTRICT OF UNITED COLUMBIA STATES Households that own or 65.9% 85.6% A major consumer behavioral change evident in both the District lease a vehicle and the United States is the adoption of mobile banking. The Individuals that own a smartphone 88.7% 83.8% percentage of individuals that used a mobile device for banking over the last 12 months jumped from 28% to 42% in the District Individuals that own a computer 75.4% 73.5% and from 24% to 39% nationally. The trend comes as no surprise Inidividuals that own a tablet 49.1% 48.2% given the market saturation of smartphones and the rapid Individuals watched TV show 28.3% 27.0% development of mobile payment and banking options. As we online in last 30 days wrote last year, many banks have responded by closing branches, Individuals that gambled at a 15.1% 13.2% including within the Washington region, although the District casino in last 12 months has been spared the brunt of closures. Chase has also been Individuals that used opening new branches in the region and Capital One has been mobile device for banking 41.8% 39.0% in last 12 months opening experiential “cafés”. Individuals that consumed 33.8% 23.9% organic food in last 6 months The shakeup of the banking industry trend has been further Individuals that exercise at gym exasperated by major consolidations, including the recently 19.5% 14.4% 2+ times/week announced merger of SunTrust and BB&T to form a new bank named Truist. From a financial perspective, banks are ideal Households that own a pet 36.8% 54.5% tenants for retail properties, as they have excellent credit and Source: ESRI, Delta Associates; September 2019.

RETAIL DEVELOPMENT (SQ. FT. IN THOUSANDS, AUGUST 2019)

1,200

1,000 901

800 611 600 441 400 256

200

0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020* 2021* YTD* GROUNDBREAKING COMPLETED PROJECTED DELIVERIES*

*projections based on targeted delivery dates of projects under construction as of August 2019

RETAIL DEVELOPMENT (AUGUST 2019) PROJECTS RETAIL SQ. FT. COMPLETED (SINCE 2001) 430 8,965,051 2009 27 265,943 2010 11 330,700 2011 11 312,345 2012 16 314,324 2013 26 1,041,942 2014 27 690,259 2015 24 473,626 2016 37 749,671 2017 29 637,469 2018 30 330,439 2019 YTD 20 369,591

UNDER CONSTRUCTION 68 1,740,840 2019 DELIVERY 23 531,036 2020 DELIVERY 28 610,706 2021+ DELIVERY 17 599,098

PIPELINE 199 4,984,746 NEAR TERM 93 1,226,276 LONG TERM 106 3,758,470

TOTAL 697 15,690,637

courtesy of Bonstra | Haresign

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 37 ■ COMPLETED ■ UNDER CONSTRUCTION ■ PIPELINE

30 22 SOUTH DAKOTA AVE MASSACHUSETTS 11AVE

CONNECTICUT AVE

GEORGIA AVE

ROCK CREEK PARK

14TH ST. 24

25 U ST. 9 RHODE ISLAND AVE 14

G E O R G E W A S NEW YORK AVE H IN G T O N 5 M E M 18 O R IA L P K W 29 Y

4 6 1 26 28 7 3 H ST. VIRGINIA 16 20 UNION 66 STATION

NATIONAL MALL E. CAPITOL ST. VIRGINIA U.S. CAPITOL

17 8

FORT DUPONT 12 PARK 19 M ST. NATIONALS PARK PENNSYLVANIA AVE 2 M

395 15

M 10 . E 1 V A 27 13 . R J

M G

R E

M NATIONAL H

AIRPORT T

N I

A Alexandria M

ALABAMA AVE

All project locations are approximate. RETAIL DEVELOPMENT PIPELINE

EST. VALUE EST. PROJECT WARD LOCATION DEVELOPER(S) RETAIL SF ($M) 1 DELIVERY2

TOP RETAIL PROJECTS COMPLETED (Q3 2018–AUGUST 2019)

1 655 New York Avenue 6 655 New York Ave., NW Douglas Development Corporation / 80,551 $185 Q3 19 Brookfield Properties 2 Shops at Penn Hill (Phase I) 7 3200 Pennsylvania Ave., SE Jair Lynch Real Estate Partners 65,000 $25 2019 3 CityCenterDC 2 950 New York Ave., NW Hines / Qatari Diar 30,000 $270 Q1 19 (Conrad Hotel) 4 The Batley 5 1270 4th St., NE EDENS / Level 2 Development / 29,042 $150 Q2 19 Trammell Crow Residential 5 Liz 2 1701 14th St., NW Fivesquares Development / 26,000 Q3 19 Streetscape Partners / Whitman-Walker Health 6 Carnegie Library 2 800 Mount Vernon Pl., NW Apple / EventsDC 18,896 $30 Q2 19 7 Union Place (Phase II) 6 200 K St., NE Toll Brothers 16,500 $170 Q2 19 8 Penn Eleven 6 1101 – 1117 Pennsylvania Ave., SE Perseus Realty / Westbrook Partners 16,000 $25 Q1 19 9 The Sonnet 1 1441 U St., NW High Street Residential 15,552 $150 Q3 18 10 Maple View Flats 8 2228 – 2252 Martin Luther King Jr. Chapman Development / DHCD 15,000 $50 Q1 19 Ave., SE

TOP RETAIL PROJECTS UNDER CONSTRUCTION

11 City Ridge 3 3900 Wisconsin Ave., NW Roadside Development / 194,000 $700 Q2 22 North America Sekisui House 12 The Wharf (Phase II) 6 Southwest Waterfront Hoffman & Associates / Madison Marquette 119,559 $1,200 Q3 22 13 Skyland Town Center 7 Alabama Ave. & Naylor Rd., SE Rappaport / WC Smith / Washington East 117,000 $175 Q3 20 (Phase A) 14 1515 New York Avenue 5 1515 New York Ave., NE Douglas Development Corporation 92,828 $27 Q4 19 15 Riverpoint 6 2100 2nd St., SW Akridge / Western Development Corp. / 70,441 $220 Q1 20 Jefferson Apartment Grp. / Orr Partners 16 Anthem Row 2 800 K St., NW The Meridian Group 70,000 $142 Q4 19 17 Beckert's Park 6 415 14th St., SE Foulger-Pratt / Safeway 68,000 $138 Q1 20 18 Eckington Yards 5 1625 Eckington Pl. & The JBG Companies 67,264 $265 Q3 21 1500 Harry Thomas Way, NE 19 The Kelvin 6 1250 Half St., SE Jair Lynch Real Estate Partners 59,000 $155 Q4 19 20 250 Massachusetts Avenue 2 250 Massachusetts Ave., NW Property Group Partners 58,372 $275 Q4 19

TOP RETAIL PROJECTS PIPELINE

21 East River Park 7 Minnesota Ave. & Benning Rd., NE Cedar Realty Trust 119,500

22 Upton Place 3 4000 Wisconsin Ave. NW Donohoe Companies / Holladay Corporation 100,000 2023 23 ART Place at Fort Totten 5 Fort Totten Metrorail Station Four Points / Perseus Realty / Buccini Pollin Group 94,914 2022 (Phase II) 24 McMillan Sand Filtration Site 5 North Capitol St & Michigan Ave., NW Jair Lynch Real Estate Partners / 80,000 $720 2023 Trammell Crow Company / EYA 25 Bond Bread 1 2114 Georgia Ave., NW Fivesquares Development / EDENS / 74,000 $150 Menkiti Group / Howard University 26 Armature Works 6 1200 3rd St., NE Trammell Crow Company / 60,000 $400 2022 High Street Residential / MetLife 27 Barry Farm 8 Martin L. King Jr. Ave. & Preservation of Affordable Housing / 50,000 $500 2021 Summer Rd., SE A&R Development / DC Housing Authority 28 Storey Park 6 1005 1st St., NE Four Points / Perseus Realty / Buccini Pollin Group 27,313 $330 2022 29 500 Penn Street 5 500 Penn St., NE EDENS / UDR 22,714 $150 2022 30 The Lady Bird 3 4330 48th St., NW Valor Development 16,500 $127 2022

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.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 39 DEVELOPMENT HIGHLIGHTS Image courtesy of Roadside Development Image courtesy of WC Smith

WARD 3 WARD 7

CITY RIDGE SKYLAND TOWN CENTER (PHASE A)

LOCATION: 3900 Wisconsin Avenue, NW LOCATION: Alabama Avenue & Naylor Road, SE DEVELOPER(S): Roadside Development / North America Sekisui House DEVELOPER(S): Rappaport / WC Smith / Washington East / Skyland DC ARCHITECT(S): Shalom Baranes Associates ARCHITECT(S): Torti Gallas and Partners CONTRACTOR(S): Whiting-Turner Contracting Co. CONTRACTOR(S): WCS Construction / L.F. Jennings Inc. LEED: Gold EST. VALUE: $700 million LEED: Silver EST. VALUE: $175 million STATUS: Under Construction STATUS: Under Construction TARGETED DELIVERY: Q2 2022 TARGETED DELIVERY: Q3 2020

SPECS: : The former headquarters for Fannie Mae (~10 acres) will be redeveloped SPECS: The redevelopment of the 18.5-acre Skyland Shopping Center will result into 1.15 million sq. ft. of mixed-use development. The plan calls for a total of in up to 320,000 sq. ft. of commercial space and 500 residential units. Phase nine mixed-use buildings totaling 687 residential units, 194,000 sq. ft. of retail A will deliver 263 apartments over 117,000 gross sq. ft. of retail (84,000 sq. ft. space (anchored by an 82,000 sq. ft. Wegmans grocery store), and 170,000 sq. ft. net rentable). Future phases include 41,000 sq. ft. of retail anchored by DC’s of office. first Lidl grocery store in 2021, and a 120,000 sq. ft. specialty care center with targeted delivery in 2022. Conceptual image courtesy of EDENS Image courtesy of Perkins Eastman

WARD 1 WARD 5

BOND BREAD ART PLACE AT FORT TOTTEN (PHASE II)

LOCATION: 2114 Georgia Avenue, NW LOCATION: Fort Totten Metrorail Station DEVELOPER(S): Edens / Menkiti Group / Fivesquares Development / DEVELOPER(S): Morris and Gwendolyn Cafritz Foundation Howard University ARCHITECT(S): Perkins Eastman DC / Studio Shanghai EST. VALUE: $150 million STATUS: Near Term STATUS: Long Term TARGETED DELIVERY: Q4 2022

SPECS: The Bond Partnership development group was selected by Howard SPECS: The second phase of the 2.0 million sq. ft. ART Place at Fort Totten University to redevelop the 2.2-acre site. Conceptual redevelopment mixed-use development is located on the 5.1-acre Block B. There will be scenarios include 450 residential units, 74,000 sq. ft. of retail, and potentially two buildings totaling 270 multifamily units, a children’s museum (Explore! a 156-room hotel. The two historic industrial buildings will be incorporated Children's Museum), a family entertainment zone (anchored by Meow Wolf ), into the development. an Aldi grocery store (25,000 sq. ft.), 30 units of artist housing/work space, additional retail and 930 parking spaces.

WARD 6 WARD 4

THE KELVIN & THE eNvy THE PARKS AT WALTER REED

LOCATION: 1250 Half Street, SE & 70 N Street, SE LOCATION: 6800 Georgia Avenue, NW DEVELOPER(S): Jair Lynch Real Estate Partners DEVELOPER(S): Urban Atlantic / Hines / Triden Development Group ARCHITECT(S): Hord Coplan Macht, Inc. ARCHITECT(S): Torti Gallas and Partners CONTRACTOR(S): Lendlease CONTRACTOR(S): Paradigm Companies (Brooks & Vale) LEED: Silver EST. VALUE: $240 million EST. VALUE: $778 million STATUS: Under Construction LEED: Silver TARGETED DELIVERY: Q4 2019 & Q1 2020 STATUS: Multi-phased

SPECS: Located directly across from the entrance to Nationals Park on Half Street, SPECS: The Parks at Walter Reed redevelopment plan calls for 3.1 million sq. ft. of The Kelvin and The eNvy will deliver 312 apartments, 127 condominiums, and mixed-use development, 20 acres of open space, and over 2,200 residential units, approximately 59,000 sq. ft. of retail (anchored by a two-level Punch Bowl Social). including affordable housing. The Brooks & The Vale (Parcel V/U), located at the corner of Georgia Avenue & Aspen Street, will be the first market-rate mixed-use building to deliver on the site (Q4 2020) and will consist of 301 apartments, 89 condos, and 18,000 sq. ft. of retail. Image courtesy of WC Smith

WARD 6 WARD 7

AVEC STRAND THEATER

LOCATION: 901 H Street, NE LOCATION: 5119 – 5127 Nannie Helen Burroughs Avenue, NE DEVELOPER(S): Rappaport / WC Smith / Lustine Realty Company DEVELOPER(S): The Warrenton Group / Washington Metropolitan CDC / ARCHITECT(S): Torti Gallas and Partners NHP Foundation CONTRACTOR(S): WCS Construction ARCHITECT(S): PGN Architects PLLC LEED: Silver EST. VALUE: $200 million LEED: Gold EST. VALUE: $28 million STATUS: Under Construction STATUS: Under Construction TARGETED DELIVERY: Q4 2019 TARGETED DELIVERY: Q3 2021

SPECS: AVEC is a two-block redevelopment project with nine distinct facades. SPECS: The Strand Residences will be built adjacent to the historic Strand Upon delivery it will offer 419 apartments above 53,500 sq. ft. of retail (44,000 Theater and will feature approximately 1,400 sq. ft. of retail space on the sq. ft. rentable) and a three-level underground garage that will provide off-street ground-level, 1,233 sq. ft. of community/business incubator space and 86 parking for residents (309 spaces) and retail patrons (126 spaces). affordable residential units. The historic theatre will be renovated and become home to Deanwood Smokehouse, from the owners of Ivy City Smokehouse.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 41 DEVELOPMENT HIGHLIGHTS Courtesy of BKV Group

WARD 5 WARD 6

THE BATLEY BECKERT’S PARK

LOCATION: 1270 4th Street, NE LOCATION: 415 14th Street, SE DEVELOPER(S): EDENS / Level 2 Development / DEVELOPER(S): Foulger-Pratt / Safeway Trammell Crow Residential ARCHITECT(S): BKV Group ARCHITECT(S): Shalom Baranes Associates LEED: Gold EST. VALUE: $138 million CONTRACTOR(S): John Moriarty & Associates STATUS: Under Construction LEED: Silver EST. VALUE: $150 million TARGETED DELIVERY: Q1 2020 STATUS: Completed TARGETED DELIVERY: Q2 2019 SPECS: The site of a former Safeway grocery store will be redeveloped into 325 residential units and 68,000 sq. ft. of ground floor retail, anchored by a new SPECS: As part of EDEN’s Union Market District, The Batley is an 11-story, 432- 60,000 sq. ft. of Safeway grocery store. unit apartment building with 29,000 sq. ft. of retail space anchored by La Cosecha, a 20,000 sq. ft. Latin marketplace. The façade of the previous warehouse building on the site was preserved and incorporated into the development. Image courtesy of Hoffman & Associates Image courtesy of MRP Realty

WARD 6 WARD 5

THE WHARF (PHASE II) BRYANT STREET (PHASE I)

LOCATION: Southwest Waterfront LOCATION: 680 Rhode Island Avenue, NE DEVELOPER(S): Hoffman & Associates / Madison Marquette DEVELOPER(S): MRP Realty / FRP Development Corp. ARCHITECT(S): ODA Architecture / WDG Architecture / Rafael Vinoly ARCHITECT(S): SK+I Architectural Design Group Architects / Morris Adjmi Architects / Studios Architecture LEED: Gold / Hollwich Kushner / Perkins Eastman DC / SHoP STATUS: Under Construction CONTRACTOR(S): Balfour Beatty Construction / Donohoe Construction TARGETED DELIVERY: Q1 2021 LEED: Gold EST. VALUE: $1.2 billion

STATUS: Under Construction SPECS: The 13-acre Rhode Island Avenue Shopping Center will be redeveloped TARGETED DELIVERY: Q3 2022 into a mixed-use project with up to 1,600 residential units and 275,000 sq. ft. of retail/entertainment space. Phase I will consist of three buildings totaling about SPECS: Phase II of The Wharf will deliver 548,000 sq. ft. of office space in three 490 residential units, a nine-screen Alamo Draft Cinema, and approximately buildings, as well as two below grade parking garages. Plans also call for 119,000 40,000 sq. ft. of additional retail space. sq. ft. of retail space, a 116-room Pendry hotel, 345 residential units (apartments & condos), a 200+ Slip Marina, and four acres of public park/open space.

WARD 2 WARD 3

LIZ THE GLOVER HOUSE

LOCATION: 1701 14th Street, NW LOCATION: 2101 Wisconsin Avenue, NW DEVELOPER(S): Fivesquares Development / Streetscape Partners / DEVELOPER(S): JBG Companies Whitman-Walker Health ARCHITECT(S): Eric Colbert & Associates ARCHITECT(S): Selldorf Architects / CORE CONTRACTOR(S): Donohoe Companies STATUS: Completed LEED: Silver EST. VALUE: $77 million TARGETED DELIVERY: Q3 2019 STATUS: Under Construction TARGETED DELIVERY: Q3 2019 SPECS: The former site of the Whitman-Walker Health clinic was redeveloped into a mixed-use development with 60,000 sq. ft. of office space (anchored SPECS: The site of a former Holiday Inn was redeveloped into 225 apartment by Whitman-Walker Health), 78 apartments, and up to 26,000 sq. ft. of retail units and 20,000 sq. ft. of retail space, anchored by a 15,000 sq. ft. Trader Joe's (anchored by Sephora, Bluestone Lane, and an Amazon retail concept). The (July 2019 opening). A majority of the residential units delivered in September development also includes below-grade parking and incorporates two existing 2019. Amentities include a rooftop pool & deck, whiskey room, fitness center, historic structures. and game room. Image courtesy of the Capitol Riverfront BID Image courtesy of The Menkiti Group

WARD 6 WARD 8

RIVERPOINT MLK GATEWAY I

LOCATION: 2100 2nd Street, SW LOCATION: 1205 – 1215 Good Hope Road, SE DEVELOPER(S): Akridge / Western Development Corporation / DEVELOPER(S): The Menkiti Group Jefferson Apartment Group / Orr Partners ARCHITECT(S): Cunningham + Quill Architects ARCHITECT(S): Antunovich Associates EST. VALUE: $23 million CONTRACTOR(S): McCullough Construction STATUS: Near Term LEED: Silver EST. VALUE: $220 million TARGETED DELIVERY: Q1 2021 STATUS: Under Construction TARGETED DELIVERY: Q2 2020 SPECS: Plans call for the redevelopment of five DC government-owned parcels into 20,000 sq. ft. of office space (anchored by Enlightened’s new HQ & tech SPECS: RiverPoint is the adaptive reuse of the former U.S. Coast Guard incubator) and approximately 14,000 sq. ft. of neighborhood serving retail space, headquarters at Buzzard Point into 481 apartments and 70,000 sq. ft. of anchored by a fresh foods market, a coffee concept, a restaurant, and a bank. restaurant and retail space, anchored by a seafood restaurant by Greg Casten and a waterfront restaurant and a food hall by Spike Gjerde. Outdoor amenities will include new piers and the continuation of the Anacostia Riverwalk Trail.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 43 DEVELOPMENT HIGHLIGHTS Courtesy of Foulger-Pratt

WARD 6 WARD 6

WEST HALF PRESS HOUSE AT UNION DISTRICT

LOCATION: 1201 Half Street, SE LOCATION: 301 N Street, NE DEVELOPER(S): JBG Smith DEVELOPER(S): Foulger-Pratt ARCHITECT(S): Eric Colbert & Associates / ODA Architecture ARCHITECT(S): Torti Gallas Urban / AA Studio CONTRACTOR(S): HITT CONTRACTOR(S): Foulger-Pratt LEED: Gold EST. VALUE: $228 million LEED: Gold EST. VALUE: $180 million STATUS: Under Construction STATUS: Under Construction TARGETED DELIVERY: Q1 2020 TARGETED DELIVERY: Q2 2021

SPECS: West Half is being redeveloped into an 11-story building featuring 465 SPECS: Plans for Press House at Union District call for 356 residential residential apartment units (some with large terraces facing Nationals Park) apartment units, 175 hotel rooms, 25,700 sq. ft. of office space, and 27,300 sq. and 42,000 sq. ft. of retail space on two levels. The retail will be anchored by ft. of retail space. The project will rehabilitate and incorporate a 36,000 sq. ft. Atlas Brew Works, Compass Coffee, Gatsby, Union Kitchen, Basebowl and historical structure. HipCityVeg. Image courtesy of Neighborhood Development Co Image by SK+I Architectural

WARD 7 WARD 3

BENNING MARKET UPTON PLACE

LOCATION: 3451 Benning Road, NE LOCATION: 4000 Wisconsin Avenue NW DEVELOPER(S): Neighborhood Development Corporation DEVELOPER(S): Donohoe Companies / Holladay Corporation ARCHITECT(S): 2-POV ARCHITECT(S): SK + I Architectural Design Group EST. VALUE: $5.2 million CONTRACTOR(S): Donohoe Construction STATUS: Near Term STATUS: Near Term TARGETED DELIVERY: 2020 TARGETED DELIVERY: Q1 2023

SPECS: This mixed-use project will provide 12,400 sq. ft. of innovative office SPECS: Upton Place will be the adaptive reuse of an existing office building space and food-focused neighborhood-serving retail in the River Terrace (c. 1987) into 689 residential units and 100,000 sq. ft. of retail space. A portion neighborhood of Northeast Washington, DC. of the existing building on the 4.16-acre site will be razed, an addition will be built, and the existing underground parking will be retained.

NEIGHBORHOOD DEVELOPMENT PROFILES REPORT 2019 EDITION 2019 / 2020 EDITION Neighborhood DC Profiles Development Report

In Public-Private Partnership with

In Public-Private Partnership with CITY RIDGE / DEVELOPED AND OWNED BY ROADSIDE DEVELOPMENT / NORTH AMERICA SEKISUI HOUSE AMERICA / NORTH DEVELOPMENT ROADSIDE BY AND OWNED CITY RIDGE / DEVELOPED

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The Brooks

The new 89-unit condominium project is part of the transformation of the historic Walter BY URBAN PACE Reed Army Medical Center. This is the first residential phase of the 66-acre campus being developed by Hines, Urban Atlantic and Triden and sold by Urban Pace. With unemployment and interest rates still at historic lows throughout 2019, demand for appropriately priced New construction sales in the District ranged, on average, from $650 per condominium residences remain strong. Housing prices square foot to $900 per square foot, with a few ultra-luxury condominium have stabilized and remained relatively flat for most projects eclipsing $1,000 per square foot. At the high-end of the market, submarkets year-over-year, but increased job opportunities we have seen decreased demand as the remaining inventory in several and population growth, along with low inventory, are projects does not meet the discerning tastes of the luxury buyer who is creating increased pressure on pricing. not willing to compromise on space or views.

The Washington, DC market had more residential condominium projects deliver and/or open sales in 2019 than the nation’s capital has seen over the last ten years. Despite new for-sale inventory, the District remains undersupplied. The multifamily development focus over the last couple of years resulted in an abundance of Class A apartments all throughout the city, leaving very limited opportunities to purchase new construction. The increased activity of large-scale condominium projects at the start of this year provided more options for first-time homebuyers and was met with a positive market response.  eNvy

JAIR LYNCH’S ENVY CONDOMINIUM A new 127-unit condominium community overlooking the home of Major League Baseball’s Washington Nationals. Developed by Jair Lynch Real Estate Partners, Urban IS THE BESTSELLING CONDOMINIUM pace started sales at eNvy in April 2019 and has averaged 11 sales per month at over IN THE CITY WITH AN AVERAGE OF $800 per square foot.

11 SALES PER MONTH… While jobs are still on the horizon, the Amazon announcement in Northern Virginia also increased the profile of the District of Columbia, lending a The regional average of 2.9 sales per month in 2019 has heightened prominence and excitement that will draw even more employers increased from 2.3 sales the previous year, with many of the and jobs along with increased interest from foreign investors. larger projects in the city achieving 4-6 sales per month. Jair Lynch’s eNvy condominium is the bestselling condominium Considering Amazon’s impact coupled with historically low inventory in the city with an average of 11 sales per month in the first in the District, Urban Pace sees opportunities for developers that can half of 2019. Higher land and construction costs continue overcome construction cost challenges with appropriately sized buildings to add pressure to new construction sales prices. The at well located sites. Urban Pace predicts an increase in the number of pricing increase over resales can range between 10 – 30 condominium buildings over 100 units in the pipeline over the next 24 percent depending on the submarket. New construction months, along with continued market appreciation and stabilized pricing sales in Petworth sold at a 15 percent premium over resales in the year ahead. (built or renovated in the last 10 years), 22 percent in NoMa and 24 percent in the Capitol Riverfront.

Urban Pace is the leading development real estate services firm in the Mid-Atlantic and provides sales, leasing, marketing and consulting services.

urbanpace.com | 202-296-1203 1428 U Street NW, Suite 300, Washington, DC 20009 dfc RESIDENTIAL

RESIDENTIAL DEVELOPMENT IN WASHINGTON, DC By: Nick DuBose, Real Estate Analyst, Delta Associates

The Washington metro area is the seventh largest apartment market in the U.S. with the Census Bureau approximating its multifamily supply at 565,000 units.

MARKET RATE STABILIZED APARTMENT RESIDENTIAL UNITS TOTAL DC HOUSEHOLDS 1 RENTAL UNITS 2 VACANCY 2 UNDER CONSTRUCTION 3 308,636 48,300 3.6% 17,088 6.8% increase from 2013–2018 Q2 2019 Q2 2019 ~78% market-rate units (Class A+B market-rate) (Class A+B market-rate) (August 2019)

In the 12-month period ending June 2019, 10,912 Class A market- Most of the development activity over the past couple of years rate apartment units were delivered in the Washington metro has been concentrated in the Capitol Riverfront, NoMa, Union area, with 4,861 of those units located in the District. Over the Market, and Southwest Waterfront neighborhoods, which same period, 10,055 Class A and B market-rate apartments brings concerns for the potential of overbuilding. Over the were absorbed in the Washington metro area—the District next two years, 10,450 new market-rate units are expected to contributing 3,690. As of June, 2,700 new market-rate apartments enter the District market with 80% located in these emerging have delivered in the District during 2019, while a total of 5,500 neighborhoods. During the same period, 23,540 new unit units were completed metro-wide. deliveries are projected metro-wide.

THE DISTRICT’S CLASS A + B APARTMENT MARKET

4000 12.0% 3,690

10.0% 3000

8.0% UNITS 6.7% 2000 6.0%

4.0% 2.9% 1000

2.0%

0.0% 0

2.0%

Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 2014 2015 2016 2017 2018 2019

ANNUAL ABSORPTION ANNUAL RENT GROWTH OVERALL VACANCY

Source: Delta Associates; October 2018 (Delta Associates only tracks institutional-grade buildings and does not include garden style or affordable housing properties)

1. Office of the Chief Financial Officer. District of Columbia and Economic Trends: June 2019 2. Delta Associates 3. WDCEP Research, August 2019. Includes rental & ownership units (market-rate & non-market rate) in new construction & major renovation projects

MULTIFAMILY UNITS AND VACANCY Capitol Hill submarket where rents increased by 5.5%. This can SELECTED U.S. METROPOLITAN AREAS (Q2 2019) be attributed to the area’s newly delivered apartment buildings Q2 2019 LOCATION VACANCY reaching stabilization and waning concessions. For all classes of apartments in the District, rents are up over the year by 2.9%, LA Basin 3.7% increasing 3.3% metro-wide. San Francisco Bay 4.0%

New York 4.5% District multifamily unit mixes continue to favor one-bedroom Atlanta 4.8% apartments, as they account for 60% of unit deliveries over the Washington 4.9% past ten years. Typically, younger residents will only move into

Chicago 5.0% luxury apartments if they have a partner. Young singles will opt

Boston 5.0% for studios or live with roommates to mitigate rents at expensive Class A properties; in many cases living in Class B or C buildings Dallas/Fort Worth 5.4% due to affordability. Studios and two-bedroom units only account South Florida 5.6% for 16% and 23% of newer DC apartment inventory, respectively. Houston 5.7% One-bedroom apartments cater to singles and couples. In the

Note: Vacancy includes Class A and Class B. District, 70% of the adult population is single. Multifamily Source: REIS, Delta Associates; September 2019 development in the District over the past decade has reflected shrinking average household sizes and millennial living trends, as Despite substantial deliveries over the past five years, vacancy well as a growing young adult and middle-age singles population. rates in the District and Washington metro area remain healthy. The District had a stabilized vacancy rate of 4.2% for Class A CLASS A APARTMENT EFFECTIVE RENT AND apartments as of second quarter 2019, up 10 basis points from a ANNUAL RENT GROWTH (Q2 2019) year prior. The Washington metro area had a stabilized vacancy rate of 3.4% for all classes of apartments, compared to 3.6% SUBMARKET EFFECTIVE RENT RENT CHANGE VACANCY in June 2018. Multifamily vacancy in Washington is nearly Brookland/Fort Totten $2,083 1.7% 4.7% identical to other major metropolitan areas like Boston, Atlanta, Capitol Hill $3,053 5.5% 6.7% and Chicago. Posting the lowest vacancy rate of all metros in Capitol Riverfront $2,660 6.3% 3.8% 2018, Washington vacancy has risen above New York, LA, and Columbia Heights $2,479 -1.0% 4.0% San Francisco, due to numerous apartment deliveries this past Dupont/Logan Circle $3,079 2.2% 4.9% year. Multifamily demand in Washington is projected to remain strong, limiting any potential spikes in vacancy as new projects East End $2,937 3.1% 2.9% continue to enter the market. H Street $2,532 0.8% 5.1% Mount Vernon Triangle $2,616 2.2% 3.3%

Highest effective rents for Class A apartments in the District NoMa/Union Market $2,325 2.5% 4.6% are unsurprisingly in the West End neighborhood at $3,551 Shaw $2,663 -1.1% 2.7% per month. Lowest effective Class A rents can be found in the Southwest $2,474 -0.2% 3.6% Brookland/Fort Totten neighborhood at $2,083 per month. U Street $3,046 1.3% 4.6% Same-store District Class A rents increased 2.9% since second quarter 2018. The Capitol Riverfront submarket—with the West End $3,551 0.9% 4.4% highest annual rent change of all neighborhoods—recorded District Average $2,487 2.9% 3.6% gains of 6.3% over the year. Not far behind is the neighboring Source: Delta Associates; September 2019

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 49 RESIDENTIAL DEVELOPMENT

THREE BEDROOM UNIT DELIVERIES IN DC (2009–2019*)

50 46 44

30 26

20 19

11 10 10 8 8 6

1 0 0

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019*

* Through Second Quarter 2019. 3BR Source: Delta Associates; September 2019 (surveyed units).

Primarily young adults are moving into the District’s newly SINGLE-FAMILY, CONDO, AND delivered apartments, although a growing share of empty nesters are selling their homes and deciding to rent in the city. Many TOWNHOME MARKET of these young renters are fresh out of college or grew up in the surrounding Northern Virginia and Maryland suburbs. The As of June 2019, 1,500 condo, townhome, and single-family home NoMa and Southwest Waterfront neighborhoods offer some of sales were recorded in the District this year. The median price the lowest average Class A District rents. Capitol Riverfront is for all home types is $600,000, compared to $570,000 in 2018. where a large share of development has taken place over the last Over the past five years, an average of 720 sales occurred each five years and absorption is strong. quarter, most of these (80%) consisting of attached condos and townhomes. The average median sales prices for these types Amenities in Class A multifamily product throughout the of units are $480,000 and $760,000, respectively. The District Washington metro area continue to grow in extravagance. condo submarkets reporting the most activity in the 12 months Besides the characteristic community features like gyms, pools, ending June 2019 were Capitol East (parts of SE, NE, and SW) business centers, and club rooms, new apartment buildings are and Central DC (NW), while Upper Northwest continued to post including amenities such as movie theatres, game rooms, pet minimal sales over the same period. Mideast DC (parts of NW parks, and sports courts. New multifamily projects track the and NE) sales were steady but modest. amenities featured in comparable properties to match or exceed during their own buildings’ development. The result being Besides Capitol East, all condo submarkets in the District posted increased competition for the most sought-after community negative year-over-year price growth. Upper Northwest (where features, as well as pressure to increase rents given additional all sales are in high-end luxury buildings) still has the highest development costs. prices, as Central DC continues to break the $1,000 per SF mark. The Mideast DC and Capitol East submarkets have the

lowest prices, helping to explain the magnitude of transactions Luxury apartment projects are not the only type of multifamily occurring in Southwest DC over the past few years. Average per being affected by rising construction costs. In recent years, the SF sales prices in the District were $782 as of second quarter District has contributed $300 million to affordable and workforce 2019. In relation to other areas in the Washington metro area, housing development (in 2020 $116 million was allocated for District condo prices are comparable to those available in the Housing Production Trust Fund). While this is a significant Arlington and Alexandria. investment, rising construction costs and project appeals have limited projects and the number of units produced. With 41% DEVELOPMENT COSTS of Washington-area residents spending more than 35% of their income on rent, affordable housing will be critical in the years Since 2014, construction costs have risen steadily. According ahead. According to a 2019 report by the Metropolitan Washington to the Turner Building Cost Index, the price of construction Council of Governments (Future of Housing in Greater increased by 5.1% between third quarter 2018 and third quarter Washington), the DC region will need to add at least 320,000 new 2019. This price surge can be attributed to construction worker housing units, with at least 75% deemed as affordable, between shortages—which have exacerbated labor costs—and rising 2020 - 2030 to accommodate future employment and population material prices. Construction costs will likely worsen given the growth. In May 2019, Mayor Bowser signed a Mayor’s Order to increased tariffs imposed on Chinese imports earlier this year. direct District agencies to identify strategies to create 36,000 new housing units, 12,000 of them affordable, by 2025. Despite the large multifamily pipeline expected to deliver over the next 36 months, construction delays have become common Some firms have been creative in avoiding additional as companies mitigate higher development costs. Increased development costs by using alternative materials during development expenditures are having a greater effect on potential construction. As the prices for wood and concrete components projects due to growing fiscal concerns surrounding construction. fluctuate under foreign policy, developers are saving money by As absorption is slowing in the Washington metro area, decreased modifying the structural materials used in building projects. In deliveries may be beneficial to the real estate market’s health. some cases, concrete construction is being replaced with light Regardless, high future demand is projected as Amazon and other gauge metal frameworks. This alteration lowers material and companies open headquarters in the region in the coming years. labor costs, while shortening the construction process. 

NEW CONDO SALES VOLUME AND PRICE PER SQUARE FOOT (Q2 2014–Q2 2019)

200 $782 $800

$700

150 $600 140

$500

100 $400

$300 NO. OF CONDO SALES NO.

50 $200

$100

0 $0

Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 2014 2015 2016 2017 2018 2019

SALES VOLUME FOR QUARTER EFFECTIVE PRICE PSF

Source: Delta Associates; September 2019

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 51 TECH•FASHION•FOOD TRUCK•NONPROFIT•HANDMADE• FASHION•RESTAURANT•WINERY•MUSIC•FRANCHISE• FILM-MAKING•FASHION•BREWERY•FOOD TRUCK•WINERY• TECH•RESTAURANT•FILM-MAKING•MUSIC•TECH•HANDMADEENTREPRENEUR TOOLKITS FOOD TRUCK•NONPROFIT•BREWERY•FASHION•FILM-MAKING

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RESIDENTIAL UNITS (AUGUST 2019) GROUNDBREAKINGS COMPLETED PROJECTED RENTAL HO RENTAL HO RENTAL HO

2002 4,138 1,914 6,052 2002 2,918 591 3,509 2003 2,255 1,624 3,879 2003 3,454 635 4,089 2004 1,004 2,531 3,535 2004 2,711 1,837 4,548 2005 2,817 3,020 5,837 2005 1,828 2,128 3,956 2006 3,155 1,256 4,411 2006 1,399 2,584 3,983 2007 2,817 758 3,575 2007 2,547 2,586 5,133 2008 1,460 246 1,706 2008 3,121 1,161 4,282 2009 753 173 926 2009 2,721 912 3,633 2010 3,539 446 3,985 2010 1,385 524 1,909 2011 5,023 499 5,522 2011 1,574 369 1,943 2012 5,702 556 6,258 2012 3,443 482 3,925 2013 4,194 679 4,873 2013 3,932 613 4,545 2014 4,981 1,014 5,995 2014 5,991 318 6,309 2015 5,210 614 5,824 2015 2,595 760 3,355 2016 6,654 1,011 7,665 2016 4,991 691 5,682 2017 6,232 584 6,816 2017 6,151 870 7,021 2018 6,210 239 6,449 2018 5,367 768 6,135 2019 YTD 5,151 638 5,789 2019* 8,717 905 9,622 2020* 6,369 436 6,805 2021* 3,597 298 3,895

Note: HO = Home ownership *projections based on targeted delivery dates of projects under construction as of August 2019.

RESIDENTIAL DEVELOPMENT (AUGUST 2019) PROJECTS SQ. FT. UNITS RENTAL HO CONDOS COMPLETED (SINCE 2001) 724 79,786,025 80,641 61,690 18,951 14,701 2009 35 3,589,130 3,633 2,721 912 718 2010 21 2,186,187 1,909 1,385 524 146 2011 22 1,899,277 1,943 1,574 369 269 2012 31 4,010,523 3,925 3,443 482 173 2013 37 4,040,803 4,545 3,932 613 463 2014 35 5,836,063 6,309 5,991 318 139 2015 39 3,006,007 3,355 2,595 760 607 2016 48 5,432,938 5,682 4,991 691 314 2017 50 6,924,549 7,035 6,165 870 827 2018 48 5,359,891 6,135 5,367 768 622 2019 YTD 28 4,103,042 4,266 4,064 202 84

UNDER CONSTRUCTION 89 16,669,238 17,088 15,556 1,532 1,453 2019 DELIVERY 35 5,481,429 5,356 4,653 703 703 2020 DELIVERY 38 6,311,962 6,805 6,369 436 357 2021+ DELIVERY 16 4,875,847 4,927 4,534 393 393

PIPELINE 284 54,750,465 62,102 33,681 4,282 3,542 NEAR TERM 138 15,348,000 17,148 13,851 2,018 1,610 LONG TERM 146 39,402,465 44,954 19,830 2,264 1,932

TOTAL 1,097 151,205,728 159,831 110,927 24,765 19,696

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 53 ■ COMPLETED ■ UNDER CONSTRUCTION ■ PIPELINE

21 SOUTH DAKOTA AVE MASSACHUSETTS AVE 11 CONNECTICUT AVE 10

GEORGIA AVE

ROCK CREEK PARK

14TH ST. 22 5 14 9

U ST. 7 18 28 RHODE ISLAND AVE

G E O R G E W A S NEW YORK AVE H IN G T O 12 N 13 M E M O R IA L P K W Y

4 2 23 30 6 29 24 25 1 H ST. VIRGINIA 19

66 UNION STATION

NATIONAL MALL E. CAPITOL ST. VIRGINIA U.S. CAPITOL

27 26 3 FORT DUPONT 20 PARK 8 M ST. 16 NATIONALS PARK PENNSYLVANIA AVE M 17 395 15

M . E 1 V A

. R J

M G

R E

M NATIONAL H

AIRPORT T

N I

A Alexandria M

ALABAMA AVE

All project locations are approximate. RESIDENTIAL DEVELOPMENT PIPELINE

1 EST. VALUE 3 PROJECT WARD LOCATION DEVELOPER(S) UNITS TYPE ($M)2 DELIVERY TOP RESIDENTIAL PROJECTS COMPLETED (Q3 2018–AUGUST 2019)

1 Union Place (Phase II) 6 200 K St., NE Toll Brothers 525 R $170 Q2 19 2 The Batley 5 1270 4th St., NE EDENS / Trammell Crow Residential / 432 R $150 Q2 19 Level 2 Development 3 Novel South Capitol 6 2 I St., SE Crescent Development / 355 R Q1 19 RCP Development Company 4 RESA at Tyber Place 6 22 M St., NE Skanska USA Commercial Development 326 R $112 Q2 19 5 Trellis House 1 907 Barry Place, NW Gateway Investment Partners / RISE / 319 R $70 Q3 18 Howard University 6 The Highline at 5 320 Florida Ave., NE Level 2 Development / Federal Capital Partners / 318 R $101 Q2 19 Union Market Clark Enterprises / W5 Group 7 The Sonnet 1 1441 U St., NW High Street Residential 288 R $150 Q3 18 8 Modern on M 6 6th & M Sts., SW Mill Creek Residential Trust 276 R $75 Q4 18 9 The Jamison 5 3750 Jamison St., NE Fort Lincoln New Town Corporation 236 R $70 Q3 19 10 Arcade Sunshine 1 713 – 735 Lamont St., NW Holladay Corporation 225 R Q1 19

TOP RESIDENTIAL PROJECTS UNDER CONSTRUCTION

11 City Ridge 3 3900 Wisconsin Ave., NW Roadside Development / 687 R $700 Q2 22 North America Sekisui House 12 Eckington Yards 5 1625 Eckington Pl. & 1500 The JBG Companies 681 R/O $265 Q3 21 Harry Thomas Way, NE 13 The Gantry 5 300 Morse St., NE Kettler / Carmel Partners 550 R Q3 21 14 Bryant Street (Phase I) 5 680 Rhode Island Ave., NE MRP Realty / FRP Development Corp 487 R Q1 21 15 Riverpoint 6 2100 2nd St., SW Akridge / Western Development Corp. / 481 R $220 Q2 20 Jefferson Apartment Grp. / Orr Partners 16 West Half 6 1201 Half St., SE JBG Smith 465 R $228 Q1 20 17 1900 Half Street 6 1900 Half St., SW Douglas Development Corporation 453 R $190 Q4 20 18 The Wren 1 965 Florida Ave., NW MRP Realty / JBG Smith / 433 R $153 Q4 20 Ellis Development Group 19 AVEC 6 901 H St., NE Rappaport / WC Smith / Lustine Realty Company 419 R $200 Q4 19 20 Crossing DC 6 949 1st St., SE Tishman Speyer 418 R Q1 20

TOP RESIDENTIAL PROJECTS PIPELINE

21 Upton Place 3 4000 Wisconsin Ave. NW Donohoe Companies / Holladay Corporation 689 R 2023 22 McMillan Sand 5 North Capitol St. & Jair Lynch Real Estate Partners / 660 R/O $720 2023 Filtration Site Michigan Ave., NW Trammell Crow Company / EYA 23 Armature Works 6 1200 3rd St., NE Trammell Crow Company / High Street Residential 635 R $400 2022 / MetLife 24 Sursum Corda 6 North Capitol St., M St., Toll Brothers 562 R 2021/22 Redevelopment (Ph I) 1st St., L St., NW 25 Storey Park 6 1005 1st St., NE Four Points / Perseus Realty / Buccini Pollin Group 500 R $330 2022 26 Museum Place 6 65 I St., SW Lowe 489 R $200 2022 27 Waterfront Station II 6 1000 4th St., SW Hoffman & Associates / Paramount Development / 456 R $157 2022 CityPartners / Affordable Housing Developers 28 Bond Bread 1 2114 Georgia Ave., NW Fivesquares Development / EDENS / 450 R $150 Menkiti Group / Howard University 29 300 M 6 300 M St., NE The Wilkes Company 425 R $158 2022 30 1200 5th Street 6 1200 5th St., NW MidCity 363 R 2023

1) R = rental; O = ownership 2) may include non-residential components 3) delivery date may reflect phase I delivery or final phase delivery for pipeline projects.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 55 DEVELOPMENT HIGHLIGHTS Image courtesy of WDG Architecture Image courtesy of Torti Gallas Urban

WARD 6 WARD 7

SURSUM CORDA REDEVELOPMENT PROVIDENCE PLACE

LOCATION: North Capitol Street, M Street, 1st Street, L Street, NW LOCATION: 50th & Fitch Street, NE DEVELOPER(S): Toll Brothers DEVELOPER(S): Urban Matters Development Partners / Atlantic Pacific ARCHITECT(S): WDG Architecture / Boogs & Partners Architects Communities / Progressive National Baptist Convention CDC LEED: Silver ARCHITECT(S): Torti Gallas Urban STATUS: Near – Long Term CONTRACTOR(S): Hamel Builders TARGETED DELIVERY: Q4 2021 STATUS: Under Construction TARGETED DELIVERY: Q1 2021 SPECS: Proposed plans call for a total of 1,131 residential units and potentially 23,000 sq. ft. of retail across four buildings in a multi-phased development on SPECS: Providence Place will be a four-story, 93-unit affordable housing the 6.7-acre site of Sursum Corda. Phase I will include two residential buildings development with 35 units as replacement units for Lincoln Heights & totaling 562 units with 122 reserved for Sursum Corda households. Richardson Dwellings communities. Solar panels will cover 6,000 sq. ft. of the roof. A ceremonial groundbreaking occurred in August 2019. Image courtesy of AEDC

WARD 6 WARD 8

THE BOWER RESIDENCES AT ST. ELIZABETHS EAST

LOCATION: 1300 4th Street, SE LOCATION: 1201 Oak Drive, SE DEVELOPER(S): Hoffman & Associates DEVELOPER(S): Anacostia Economic Development Corporation / ARCHITECT(S): Handel Architects / WDG Architecture Flaherty & Collins CONTRACTOR(S): Clark Construction Group CONTRACTOR(S): GCS-Sigal LLC LEED: Gold EST. VALUE: $70 million EST. VALUE: $100 million STATUS: Completed STATUS: Under Construction TARGETED DELIVERY: Q4 2018 TARGETED DELIVERY: 2019–2020

SPECS: The Bower is an 11-story, 137-unit condominium building with over SPECS: The residential development, located on Parcel 11, will include the 13,000 sq. ft. of retail along Tingey Street, SE, anchored by La Famosa (Puerto adaptive reuse of seven historic, former hospital buildings into apartments Rican restaurant). (80% affordable / 20% market-rate) and will start to deliver units in November 2019 (Phase I) through November 2020 (Phase II). The lower-level space in the buildings will be converted to 14,000 sq. ft. for community uses.

WARD 6 WARD 1

MUSEUM PLACE SLOWE HALL & CARVER HALL

LOCATION: 65 I Street, SW LOCATION: 1919 Third Street, NW / 211 Elm Street, NW DEVELOPER(S): Lowe DEVELOPER(S): Urban Investment Partners / ARCHITECT(S): Beyer Blinder Belle Architects & Planners Neighborhood Development Company LEED: Gold EST. VALUE: $200 million ARCHITECT(S): Bonstra | Haresign Architects STATUS: Near Term CONTRACTOR(S): UIP General Contracting TARGETED DELIVERY: Q2 2022 EST. VALUE: $53 million STATUS: Under Construction SPECS: The historic Randall School will be renovated and become the new TARGETED DELIVERY: Q4/Q3 2019 home for a new 32,000 sq. ft. contemporary art museum and 18,000 sq. ft. of commercial uses such as retail, service, office (including co-working) SPECS: Both former dormitories were transformed into market-rate residential and education in the West Wing. Adjacent to the school will be a 12-story apartments. The 159-room Carver Hall (211 Elm St., NW) was transformed into multifamily building totaling 489 units (20% affordable units). 63 units and the 305-room Slowe Hall (1919 Third St., NW) was converted into 103 units. UIP signed a 99-year lease with Howard University for each building. Image courtesy of MidCity

WARD 6 WARD 3

1200 5TH STREET 3320 IDAHO AVENUE

LOCATION: 1200 5th Street, NW LOCATION: 3320 Idaho Avenue, NW DEVELOPER(S): MidCity DEVELOPER(S): Department of General Services ARCHITECT(S): Torti Gallas Urban ARCHITECT(S): Ayers Saint Gross LEED: Silver CONTRACTOR(S): Smoot Construction D.C. STATUS: Near Term LEED: Gold EST. VALUE: $29 million TARGETED DELIVERY: Q2 2023 STATUS: Under Construction TARGETED DELIVERY: Q1 2020 SPECS: Plans call for the vacant 63-unit, garden-style, Washington Apartments Complex to be replaced with a three and four-story residential building (both SPECS: The Ward 3 Short-Term Family Housing project is a new six-story, 45,000 with penthouses) with 363 units of housing. The unit mix will range from sq. ft. housing facility for the Department of Human Services that will provide studios to 3BR (minimum of 5% of the units will be 3BR). short-term family housing for families coming out of homelessness. The structure consists of a one-story conventional concrete podium, with five stories of composite structural slab supported with prefabricated metal stud bearing walls.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 57 DEVELOPMENT HIGHLIGHTS Image courtesy of KGD Architecture

WARD 5 WARD 6

DELTA TOWERS (ADDITION) RESA AT TYBER PLACE

LOCATION: 808 Bladensburg Road, NE LOCATION: 22 M Street, NE DEVELOPER(S): Delta Housing Corporation / Dantes Partners / DEVELOPER(S): Skanska USA Commercial Development Gilbane Building Company ARCHITECT(S): Design Collective ARCHITECT(S): KGD Architecture CONTRACTOR(S): Skanska USA Building CONTRACTOR(S): Gilbane Building Company LEED: Gold EST. VALUE: $112 million EST. VALUE: $90 million STATUS: Completed STATUS: Under Construction TARGETED DELIVERY: Q2 2019 TARGETED DELIVERY: Q4 2020 SPECS: RESA offers a collection of 326 multifamily apartments and 7,400 sq. ft. SPECS: An apartment development with 179 affordable units for seniors wlll be of retail space, anchored by King Street Oyster Bar. The building was sold in built on an existing parking lot, adjacent to The Delta Towers. The new building June 2019 to Northwestern Mutual for $141 million. RESA is part of the larger will feature 5,000 sq. ft. of retail space and a below-grade garage. 950,000 sq. ft. Tyber Place development on M Street, NE Image courtesy of UIP

WARD 2 WARD 5

BOATHOUSE HIGHLINE AT UNION MARKET

LOCATION: 2601 Virginia Avenue, NW LOCATION: 320 Florida Avenue, NE DEVELOPER(S): Urban Investment Partners DEVELOPER(S): Level 2 Development / Clark Enterprises Inc. / ARCHITECT(S): WDG Architecture Federal Capital Partners / W5 Group CONTRACTOR(S): UIP General Contracting ARCHITECT(S): Eric Colbert & Associates LEED: Silver EST. VALUE: $84 million CONTRACTOR(S): Clark Construction / Pizzano Contractors STATUS: Under Construction LEED: Silver EST. VALUE: $101 million TARGETED DELIVERY: Q4 2019 STATUS: Completed TARGETED DELIVERY: Q2 2019 SPECS: Boathouse is the conversion and expansion of an existing 110,000 sq. ft. dormitory (and former hotel) building into a 145,000 sq. ft. residential building SPECS: A former Burger King site has been redeveloped into 318 residential with 250 apartments and 5,000 sq. ft. of ground floor retail. The building will units, 10,000 sq. ft. of retail space (anchored by Orangetheory Fitness), and 136 also have a rooftop pool and extensive amenity space. parking spaces. Quarters, a co-living company, will manage 99 units. A new park will also be created to the west of the building.

WARD 4 WARD 8

THE ARCHIE THE TRIUMPH

LOCATION: 4111 Kansas Avenue, NW LOCATION: 4225 6th Street, SE DEVELOPER(S): Lock 7 Development DEVELOPER(S): Department of General Services STATUS: Under Construction ARCHITECT(S): Sorg & Associates TARGETED DELIVERY: Q3 2020 CONTRACTOR(S): MCN Build LEED: Gold SPECS: The Archie is a new four-story, 33,000 sq. ft. 40-unit residential condo STATUS: Completed building. The unit mix will range from studios to 2BR. TARGETED DELIVERY: Q4 2018

SPECS: The Ward 8 Short-Term Family Housing project is part of DC's efforts to close DC General Hospital and includes 50 short-term family housing units. Each unit contains three to five beds and storage compartments, a family-style bathroom, central dining area, and kitchen. There are several community lounge spaces as well. Image courtesy of Insight Property Group Image courtesy of LCOR

WARD 6 WARD 5

THE BALDWIN MORSE UNION MARKET DISTRICT

LOCATION: 1300 H Street, NE LOCATION: 500 – 530 Morse Street, NE DEVELOPER(S): Insight Property Group / Rise Development / DEVELOPER(S): LCOR H Street CDC ARCHITECT(S): SK+I Architectural Design Group ARCHITECT(S): Maurice Walters CONTRACTOR(S): John Moriarty & Associates CONTRACTOR(S): McCullough Construction LEED: Gold EST. VALUE: $16 million STATUS: Under Construction STATUS: Completed TARGETED DELIVERY: Q2 2021 TARGETED DELIVERY: Q4 2018 SPECS: The mixed-use project will offer 279 apartments, 20,300 sq. ft. of retail SPECS: The former R.L. Christian Library site was redeveloped into a four-story, space, 90+ bicycle spaces, and 160 underground parking spaces. There are also 33-unit affordable rental residential building with 6,000 sq. ft. of retail space. plans for a green roof and 2,800 sq. ft. of rooftop solar panels. The land is owned by the DC government and under a 99-year ground lease. Mozzeria, a deaf-owned pizzeria, will open its second U.S. location in Spring 2020 in the building.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 59 DEVELOPMENT HIGHLIGHTS Image courtesy of UIP Image courtesy of Neighborhood Development Company

WARD 6 WARD 4

TRIBECA 218 CEDAR STREET

LOCATION: 39–41 New York Avenue, NE LOCATION: 218 Cedar Street, NW DEVELOPER(S): Urban Investment Partners / Kadida Development / DEVELOPER(S): Neighborhood Development Company Alliance Development ARCHITECT(S): Square 134 Architects ARCHITECT(S): Torti Gallas + Partners EST. VALUE: $20 million CONTRACTOR(S): UIP General Contracting STATUS: Near Term STATUS: Near Term TARGETED DELIVERY: Q2 2021 TARGETED DELIVERY: Q2 2021 SPECS: The site of a 7-Eleven will be redeveloped into a five-story, SPECS: Plans call for two parcels along New York Avenue, NE to be redeveloped 37-unit residential condominium building with 9,200 sq. ft. of retail space. into a 99-unit condominium building. The existing auto repair building on the Neighborhood Development Company acquired the site in February 2019. site will be razed. A groundbreaking ceremony took place in October 2019.

WARD 7 WARD 5

THE SOLSTICE THE JAMISON & RESERVES AT DAKOTA CROSSING

LOCATION: 3526–3552 East Capital Street, NE LOCATION: 3750 Jamison Street, NE DEVELOPER(S): MRP Realty / Taylor Adams Associates DEVELOPER(S): Fort Lincoln New Torn Corporation / The Concordia Group ARCHITECT(S): KTGY Group ARCHITECT(S): Hickok Cole Architects EST. VALUE: $55 million CONTRACTOR(S): McCullough Construction / Ryan Homes STATUS: Completed EST. VALUE: $105 million TARGETED DELIVERY: Q3 2019 STATUS: Completed TARGETED DELIVERY: Q3 2019 SPECS: The former two-acre Greenway Market site was redeveloped into 146 affordable housing units, 2,100 sq. ft. of retail space, and underground parking. SPECS: The Jamison is a five-story, 236-unit apartment building that offers a fitness facility, dog washing area, co-working lounge, rooftop lounge, and a 10,000 sq. ft. landscaped courtyard. The Reserves is a 118-unit market-rate townhome development with homes ranging from 1,800–3,000 sq. ft.

WARD 4 WARD 1

917 KENNEDY THE SILVA

LOCATION: 917 Kennedy Street, NW LOCATION: 1630 Columbia Road, NW DEVELOPER(S): Urbanico Realty Group DEVELOPER(S): Eastbanc / Mitsui Fudosan America ARCHITECT(S): Bonstra | Haresign Architects ARCHITECT(S): Grimshaw CONTRACTOR(S): Cole Construction CONTRACTOR(S): James G. Davis Construction Corporation STATUS: Near Term LEED: Silver EST. VALUE: $110 million TARGETED DELIVERY: Q4 2020 STATUS: Under Construction TARGETED DELIVERY: Q3 2021 SPECS: The project is a four-story plus cellar and penthouse, wood-framed 21- unit condominium residential building. The habitable penthouse contains two SPECS: The surface parking lot located adjacent to the Scottish Rite Center will residential units and access to a communal roof terrace open to all residents. be redeveloped into an eight-story, 172-unit apartment building. The U-shaped building will have a courtyard located between the new building, the Scottish Rite Center, and the Unification Church. Image courtesy of Bonstra | Haresign Architects Image courtesy of MidCity

WARD 1 WARD 5

3619 GEORGIA AVENUE 1400 MONTANA AVENUE

LOCATION: 3619 Georgia Avenue, NW LOCATION: 1400 Montana Avenue, NE DEVELOPER(S): The Warrenton Group DEVELOPER(S): MidCity ARCHITECT(S): Bonstra | Haresign Architects ARCHITECT(S): Maurice Walters CONTRACTOR(S): McCullough Construction EST. VALUE: $33 million STATUS: Under Construction STATUS: Near Term TARGETED DELIVERY: 2020 TARGETED DELIVERY: Q3 2021

SPECS: The project is a six-story, 27-unit residential building with 3,000 SPECS: The site of a former drive-through bank building will be redeveloped into sq. ft. of ground floor retail and a cellar level with residential, retail, and 108 residential apartments, 33 surface parking spaces, and 40+ bicycle spaces. mechanical spaces. The project is targeting LEED for Homes v4: Multifamily.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 61 DEVELOPMENT HIGHLIGHTS Image courtesy of Monument Realty

WARD 6 WARD 6

THE SHAW LOCKWOOD APARTMENTS

LOCATION: 618 T Street, NW LOCATION: 1339–1345 E Street, SE DEVELOPER(S): Monument Realty DEVELOPER(S): Insight Property Group ARCHITECT(S): PGN Architects ARCHITECT(S): SK+I Architectural Design Group CONTRACTOR(S): Grunley Construction CONTRACTOR(S): John Moriarty & Associates STATUS: Under Construction LEED: Gold EST. VALUE: $57 million TARGETED DELIVERY: Q4 2019 STATUS: Completed TARGETED DELIVERY: Q3 2019 SPECS: The Shaw will be a new eight-story residential building that consists of 69 condominium units, a rooftop clubroom, and 7,420 sq. ft. of ground floor SPECS: The Lockwood Apartments are a 145-unit residential building on a one- retail. Existing facades are being incorporated into the project. There will also acre parcel that formerly housed Bowie’s Trash Facility and Signature Collision be two levels of below-grade parking. Body Shop. The building will also feature photovoltaic solar panels.

WARD 6 WARD 6

PERLA UNION PLACE (PHASE II)

LOCATION: 810 O Street, NW LOCATION: 200 K Street, NE DEVELOPER(S): Shaw Development Partners / The Warrenton Group / DEVELOPER(S): Toll Brothers Four Points ARCHITECT(S): DCS Design ARCHITECT(S): WDG Architecture / Gensler CONTRACTOR(S): Tishman Construction / AECOM LEED: Gold EST. VALUE: $64 million EST. VALUE: $170 million STATUS: Under Construction STATUS: Completed TARGETED DELIVERY: Q3 2019 TARGETED DELIVERY: Q2 2019

SPECS: The Perla is a nine-story, 66-unit residential condominium building with SPECS: Union Place (Phase II) is a 14-story, 525-unit building with 16,500 sq. ft. up to 6,900 sq. ft. of retail space fronting 9th Street. The design offers flats and of retail space (including 6,000 sq. ft. for a day care), 243 parking spaces, and two-level units (716–1,850 sq. ft.). The site was the former home to the Scripture 175 bicycle spaces. The building is located on the western portion of Square 749, Cathedral Church which sold the property in 2016 for $13 million. bounded by 2nd, L & K Streets, NE.

HOSPITALITY DEVELOPMENT IN WASHINGTON, DC

Image courtesy of Michael Marshall Design By Nick DuBose, Real Estate Analyst, Delta Associates

District hotel occupancy, despite a trend of growth from 2013 to 2017, fell 100 basis points to 77.6% during 2018. Substantial deliveries over the past three years can be attributed to the decline, as hotel room supply in the District increased by 10.7%.

2018 VISITORS1 HOTEL OCCUPANCY RATE2 HOTEL ROOM INVENTORY2 REVPAR 2 23.8M 77.6% 33,000 $172.85 4.4% INCREASE FROM 2017 AUGUST 2019 ~ AUGUST 2019 AUGUST 2019

Between 2017 and 2018, the average daily rate (ADR) and home sharing services (Airbnb, VRBO, FlipKey, etc.). In the past revenue per available room (RevPAR) in the city decreased by three years, active home sharing rentals in DC have grown by an 5.6% and 7.0%, respectively; another consequence of increased average of 3.6% each quarter. Most of these lodging options (74%) hotel supply. District hotel demand continues to be influenced by offer entire home rentals.

HOTEL OCCUPANCY, ADR, REVPAR, ROOM SUPPLY AND DEMAND (2013–08/2019)

$250 80

$200

$150

70 $100

$50

$0 60 2013 2014 2015 2016 2017 2018 2019*

District ADR DC DC Metro ADR District RevPAR DC Metro RevPAR DC Metro Occupancy District Occupancy

*through August 2019 Source: STR, Delta Associates; September 2019.

1. DestinationDC (2018 Visitor Statistics) 2. STR

Conrad Hotel Washington, DC

Hotel occupancy metro-wide stood at 71.8% as of 2018, 30 positive foreign relations. Federal employment remains critical to basis points lower than it was a year prior. Metro ADR and the long-term viability of the city’s hospitality industry. RevPAR were also down, decreasing 2.1% and 3.3% from 2017, respectively. This is the first time in five years that these metrics The metro area’s primary driver for room-night demand is have recorded negative year-over-year change. In the past two the federal government. Steady tourism and travel related to years, the Washington metro area’s hotel supply has increased government activity sustains hotel demand, even in the worst by 3.5%. Based on tourism growth during the same timeframe, markets. So much so, that the area’s ADR growth is connected deliveries are consistent with demand. to the federal annual per-diem rate. The federal government’s travel per diem rates will increase from $94 to $96 starting in The District had 23.8 million visitors in 2018—a 4.4% increase 2020—suggesting at least 2.1% ADR growth in the metro area from 2017. Domestic and international tourists accounted for between 2019 and next year. Additional demand drivers, such as $7.8 billion in spending throughout the year, contributing $851 conventions, will continue to play an important role in driving million to local tax revenue; a 4.7% year-over-year gain.3 Still, occupancy. In 2020, the District will welcome 20 citywide there are concerns surrounding a downturn in international conventions and events, generating 466,713 total room nights.4  visitors, as the current administration struggles to maintain

3,4. DestinationDC (2018 Visitor Statistics)

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 65 HOSPITALITY DEVELOPMENT

VISITATION TO WASHINGTON, DC

25 23.8 20% 22.8 22.0 21.3 20.2 15% 20 17.8 18.5 19.0

17.2 ANNUAL GROWTH 10% 15

10 0% MILLIONS OF VISITORS

5 -5%

0 -10% 2010 2011 2012 2013 2014 2015 2016 2017 2018

Domestic International Domestic Growth International Growth Total Growth

Source: DestinationDC

Two new hotels opened in the District this past spring: the The District’s music scene has become a lot livelier in recent Hilton DC National Mall—previously the L’Enfant Plaza years. With new developments like The Anthem, Karma, and Hotel—and the Conrad Luxury Hotel at CityCenterDC. The Pie Shop, the city is now home to 35+ music venues. Despite NoMa/Union Market area will see a substantial amount of hotel growing demand for live music, smaller venues in the District growth in the coming years, with the Virgin Hotel, MOB Hotel, are faced with fierce competition from more established stages. Meininger Hotel, and CitizenM Hotel. New hotel construction Popular venues like The Anthem, U Street Music Hall, and 9:30 suggests that developers are confident in the District’s growing Club attract rising acts in the music industry, while bigger artists tourism market. Projected demand through 2021 is expected to book Capital One Arena to accommodate larger audiences. Small support these new developments. newer venues like Public Bar Live, DIVE, and City Winery are doubling as restaurants and event spaces for other entertainment options like trivia, stand up comedy, and open mics. 

HOTEL ROOM DEVELOPMENT (AUGUST 2019)

3000

2500

2000

1500 1,270

1000 958 772

500 175

0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019* 2020* 2021*

GROUNDBREAKING COMPLETED PROJECTED DELIVERIES*

*projections based on targeted delivery dates of projects under construction as of August 2019

DC HOSPITALITY DEVELOPMENT (AUGUST 2019)

NET NEW PROJECTS HOSPITALITY SQ. FT. ROOMS ROOMS1 COMPLETED 132 20,820,761 19,699 8,753 (SINCE 2001) 2009 6 669,965 1,035 207 2010 3 865,000 1,614 0 2011 3 134,100 204 204 2012 5 64,000 356 0 2013 4 282,070 426 305 2014 8 1,540,863 1,795 1,795 2015 8 425,465 1,203 546 2016 9 1,763,835 1,352 1,023 2017 9 1,533,241 2,527 1,339 2018 7 1,214,488 913 648 2019 YTD 4 685,000 1,051 366

UNDER CONSTR. 15 1,687,451 1,468 1,468 2019 DELIVERY 3 230,650 219 219 2020 DELIVERY 5 485,825 958 958 2021+ DELIVERY 7 970,976 291 291

PIPELINE 54 4,299,246 6,236 4,834 NEAR TERM 30 1,810,313 2,765 2,089 LONG TERM 24 2,488,933 3,471 2,745

TOTAL 201 26,807,458 27,403 15,055

1. Net new rooms only reflect rooms in hotel projects or rooms added/removed in redevelopment projects (rooms are Image of the Air & Space Museum courtesy of The Smithsonian removed from inventory based on project’s status).

Editor’s note: In 2017, community projects were moved from Hospitality to Quality of Life

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 67 ■ COMPLETED ■ UNDER CONSTRUCTION ■ PIPELINE

SOUTH DAKOTA AVE

MASSACHUSETTS AVE

CONNECTICUT AVE

GEORGIA AVE

ROCK CREEK PARK 14TH ST.

U ST.

29 RHODE ISLAND AVE

G E O R G E W A S NEW YORK AVE H IN G T O N M E M O R IA L 24 P K W Y

26 17 27 3 13 5 22 23 8 16 14 H ST. VIRGINIA UNION 66 20 2 4 STATION 9 19 30

NATIONAL MALL E. CAPITOL ST. VIRGINIA 11 U.S. CAPITOL 6 10 12

FORT DUPONT 18 PARK M ST.

NATIONALS 15 PARK28 25 PENNSYLVANIA AVE

M 1 395

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All project locations are approximate. HOSPITALITY DEVELOPMENT PIPELINE

HOSPITALITY HOTEL EST. VALUE 2 PROJECT WARD LOCATION DEVELOPER(S) SF ROOMS ($M)1 DELIVERY TOP HOSPITALITY PROJECTS COMPLETED (Q3 2018–AUGUST 2019)

1 D.C. United Stadium 6 100 Potomac Ave., SW DC United / DC Government 421,000 $400 Q3 18 2 CityCenterDC (Conrad Hotel) 2 950 New York Ave., NW Hines / Qatari Diar 358,000 360 $270 Q1 19 3 Columbia Place 2 901 L St., NW Quadrangle Development / 350,000 504 $225 Q4 18 Capstone Development / Marriott 4 W Hotel 2 515 15th St., NW Marriott 187,000 324 $50 Q2 19 5 Eaton DC 2 1201 K St., NW Pacific Eagle Holdings 172,000 209 Q3 18 6 International Spy Museum 6 700 L'Enfant Plaza, SW International Spy Museum / JBG Smith 140,000 $162 Q2 19 7 Entertainment and Sports Arena 8 110 Oak Drive, SE Events DC / DC Government 116,500 $68 Q3 18 8 Moxy Hotel 2 1011 K St., NW Douglas Development Corporation 64,988 200 $40 Q4 18 9 National Law 2 400 block of E St., NW NLEOMF 55,000 $103 Q4 18 Enforcement Museum 10 Hilton Washington D.C. 6 480 L'Enfant Plaza, SW L'Enfant DC Hotel, LLC / 367 $49 Q2 19 National Mall Stanford Hotels Group

TOP HOSPITALITY PROJECTS UNDER CONSTRUCTION

11 National Air and Space Museum 2 The National Mall Smithsonian 687,000 $976 2021–25 12 citizenM 6 555 E St., SW DC Strategy Group / Paramount / 130,000 252 $120 Q2 20 CityPartners / Potomac Investment Properties / Adams Investment Group 13 AC Hotel 2 1112 19th St., NW OTO Development 125,650 219 $41 Q4 19 14 Holiday Inn Express 6 303 – 317 K St., NW Habte Sequar 118,000 247 $93 Q4 20 15 Thompson D.C. Hotel 6 227 Tingey St., SE Brookfield Properties / 114,800 225 Q1 20 JW Capital Partners / Geolo Capital 16 AC Hotel 6 601 K St., NW Douglas Development Corporation 96,755 234 $47 Q4 20 17 Press House at Union District 6 301 N St., NE Foulger-Pratt 80,366 175 $180 Q2 21 18 Pendry Hotel 6 The Wharf (Phase II) Hoffman & Associates / 80,000 116 $1,200 Q3 22 Madison Marquette 19 The Reach 2 2700 F St., NW The John F. Kennedy Center for the 72,000 $175 Q3 19 Performing Arts 20 Center for the American Dream 2 1501 – 1505 Pennsylvania Akridge / Milken Family Foundation 69,000 Q1 21 & Milken Foundation Building Ave., NW & 730 15th St., NW

TOP HOSPITALITY PROJECTS PIPELINE

21 ART Place at Fort Totten (Phase II) 5 Fort Totten Metrorail Station Morris & Gwendolyn Cafritz Foundation 201,064 2022 22 Storey Park 6 1005 1st St., NE Four Points / Perseus Realty / 184,436 235 $330 2022 Buccini Pollin Group 23 Armature Works 6 1200 3rd St., NE Trammell Crow Company / 147,000 204 $400 2022 High Street Residential / MetLife 24 Virgin Hotel 5 411 New York Ave., NE Brook Rose Development / 111,440 178 D. B. Lee Development 25 Cambria Hotel 6 69 Q St., SW Donohoe Companies 77,500 154 $58 2021 26 Meininger Hotel 6 35 New York Ave., NE Altus Realty Partners 75,000 154 2021 27 MOB Hotel 5 400 Florida Ave., NE Ranger Properties 65,903 155 28 Nationals Park 6 Nationals Park Washington Nationals 35,000 Entertainment Venue 29 9 1/2 Street Initiative 1 1925 Vermont Ave., NW & Community Three 12,000 $45 2020-23 (Grimke School) 912 U St., NW 30 World War I Memorial 2 Pershing Park U.S. WWI Centennial Commission $42 2021

1) may include non-hospitality components & pipeline values may include additional phases ($ in millions) 2) delivery date may reflect phase I delivery or final phase delivery for pipeline projects.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 69 DEVELOPMENT HIGHLIGHTS

WARD 2 WARD 2

CONRAD HOTEL (CITYCENTERDC) THE REACH

LOCATION: 950 New York Avenue, NW LOCATION: 2700 F Street, NW DEVELOPER(S): Hines / Qatari Diar DEVELOPER(S): The John F. Kennedy Center for the Performing Arts ARCHITECT(S): Herzog & de Meuron / HKS PC ARCHITECT(S): Steven Holl Architect CONTRACTOR(S): Turner Construction Company LEED: Gold EST. VALUE: $175 million LEED: Silver EST. VALUE: $270 million STATUS: Under Construction STATUS: Completed TARGETED DELIVERY: Q3 2019 TARGETED DELIVERY: Q1 2019 SPECS: The Reach includes three new pavilions to house rehearsal, education, SPECS: As part of the CityCenterDC redevelopment of the former convention and public event space. The expansion includes 72,000 sq. ft. of new interior center site the new 11-story, 360-room luxury Conrad Hotel features 32 suites, space, 130,000 sq. ft. of new landscaping, two reflecting pools, and is located 32,000 sq. ft. of second-floor meeting & event space, and 30,000 sq. ft. of retail & directly south of the Center on 4.6 acres of land. The project delivered in restaurant uses that complement the first mixed-use phase (2013–14 delivery). September 2019. Image courtesy of the Smithsonian Image courtesy of Redbrick

WARD 2 WARD 8

NATIONAL AIR AND SPACE MUSEUM SAINT ELIZABETHS EAST PARCEL 15

LOCATION: The National Mall LOCATION: Saint Elizabeths East Campus DEVELOPER(S): Smithsonian DEVELOPER(S): Redbrick LMD / Gragg Cardona Partners ARCHITECT(S): Quinn Evans Architects ARCHITECT(S): Adjaye Associates / Winstanley Architects & Planners CONTRACTOR(S): Smoot Construction / Clark Construction / EST. VALUE: $218 million Consigli Construction STATUS: Near Term EST. VALUE: $900 million TARGETED DELIVERY: 2023 STATUS: Under Construction TARGETED DELIVERY: 2021–2025 SPECS: 4.2-acres of land will be redeveloped into a town square surrounded by two residential buildings (288 units), a 125-150-room hotel, a 200,000 sq. SPECS: The 687,000 sq. ft. museum will undergo a seven-year renovation starting ft. office building, and up to 20,000 sq. ft. of retail space. The site is located with the first phases expected to be completed in 2021/22. Renovations will adjacent to the Entertainment & Sports Arena and the Congress Heights include replacing the glass curtain wall glazing, removal and replacement of the Metrorail Station. Tennessee marble façade, and upgrades to all 22 galleries. Additionally, a new vestibule and canopy will be constructed at the north/main public entrance. The museum will remain open during construction.

WARD 2 WARD 6

AC HOTEL THOMPSON D.C. HOTEL

LOCATION: 1112 19th Street, NW LOCATION: 227 Tingey Street, SE DEVELOPER(S): OTO Development DEVELOPER(S): Brookfield Properties / JW Capital Partners / ARCHITECT(S): WDG Architecture Geolo Capital CONTRACTOR(S): Lendlease ARCHITECT(S): Studios Architecture LEED: Silver EST. VALUE: $41 million CONTRACTOR(S): John Moriarty & Associates STATUS: Under Construction STATUS: Under Construction TARGETED DELIVERY: Q4 2019 TARGETED DELIVERY: Q1 2020

SPECS: The former site of Smith & Wollensky will be redeveloped into a 219-room SPECS: 227 Tingey Street, will feature a 10-story, 225-room hotel with 38 suites AC Hotel by Marriott. Amenities include a lounge and bar, club room, meeting and up to 13,000 sq. ft. of retail & restaurant space. Danny Meyer’s Union Square room, fitness center, and a rooftop terrace. Hospitality Group will open Maialino Mare, a Roman-style trattoria, in the hotel. Image courtesy of Four Points

WARD 2 WARD 6

MOXY HOTEL STOREY PARK

LOCATION: 1011 K Street, NW LOCATION: 1005 1st Street, NE DEVELOPER(S): Douglas Development DEVELOPER(S): Four Points / Perseus Realty / Buccini Pollin Group ARCHITECT(S): FILLAT + Architecture ARCHITECT(S): HKS PC CONTRACTOR(S): Winmar Construction / CBG Building Company CONTRACTOR(S): John Moriarty & Associates LEED: Certified EST. VALUE: $40 million LEED: Silver EST. VALUE: $330 million STATUS: Completed STATUS: Near Term TARGETED DELIVERY: Q4 2018 TARGETED DELIVERY: Q4 2021

SPECS: The Moxy Hotel is a 13-story, 200-room hotel on the site of a former SPECS: Plans call for mixed-use development with 470–500 residential units, a historic mansion, which was incorporated into the project. This is DC's first 235-room Marriott hotel, and 27,000 sq. ft. of retail space. The west wing of the Moxy Hotel, a new concept from Marriott (the first Moxy Hotel opened in Milan building will contain a majority of the residential units and the east wing will in 2013) and features smaller rooms (averaging 175 sq. ft.), a live Instagram wall, include residential and the hotel uses. exposed concrete columns, and two conference rooms.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 71 DEVELOPMENT HIGHLIGHTS Image courtesy of Trammell Crow

WARD 6 WARD 6

INTERNATIONAL SPY MUSEUM ARMATURE WORKS

LOCATION: 900 L’Enfant Plaza, SW LOCATION: 1200 3rd Street, NE DEVELOPER(S): JBG Smith / International Spy Museum DEVELOPER(S): Trammell Crow Company / High Street Residential / ARCHITECT(S): Hickok Cole Architects / Rogers Stirk Harbour + Partners MetLife CONTRACTOR(S): Clark Construction Group ARCHITECT(S): Leo A Daly / Shalom Baranes Associates LEED: Certified EST. VALUE: $162 million CONTRACTOR(S): Clark Construction Group STATUS: Completed LEED: Silver TARGETED DELIVERY: Q2 2019 STATUS: Near Term TARGETED DELIVERY: Q2 2022 SPECS: The International Spy Museum opened a seven-story, 140,000 sq. ft. museum at L'Enfant Plaza which more than doubled the floor space of SPECS: Armature Works is a 2.43-acre redevelopment site with plans for 635 their previous location on F Street, NW. The museum offers 32,000 sq. ft. of rental apartment units, up to 60,000 sq. ft. of retail, and a 204-room hotel. These exhibit space, a 145-seat theater, and educational and classroom space. Annual components will be woven together by a series of urban open spaces and pocket attendance is expected to be 700,000. parks totaling approximately one-acre. Demolition of the existing warehouse buildings started in fall 2019. Image courtesy of Douglas Development Corporation Image courtesy of Donohoe Companies

WARD 6 WARD 6

AC HOTEL CAMBRIA HOTEL

LOCATION: 601 K Street, NW LOCATION: 69 Q Street, SW DEVELOPER(S): Douglas Development DEVELOPER(S): Donohoe Companies ARCHITECT(S): FILLAT + Architecture ARCHITECT(S): BBGM CONTRACTOR(S): CBG Building Company CONTRACTOR(S): Donohoe Construction EST. VALUE: $47 million EST. VALUE: $58 million STATUS: Under Construction STATUS: Near Term TARGETED DELIVERY: Q4 2020 TARGETED DELIVERY: Q1 2021

SPECS: The site of a small parking lot and two-story building will be redeveloped SPECS: Nine parcels, located on the northwest corner of Q & Half Streets, SW, into a 13-story, 234-room AC Hotel by Marriott. The hotel's exterior will be were assembled to build a nine-story, 154-room Cambria Hotel. The hotel constructed with extensive glass as a stylistic focal point. The project features includes a ground-floor restaurant and rooftop bar with a 3,500 sq. ft. terrace. up to 15,000 sq. ft. of restaurant, bar, and lounge space. A ceremonial groundbreaking was held in October 2019.

QUALITY OF LIFE DEVELOPMENT IN WASHINGTON, DC

Image courtesy of Events DC TOTAL COLLEGE PUBLIC SCHOOL ENROLLMENT 1 ENROLLMENT 2 MILES OF BICYCLE LANES3 PUBLIC LIBRARIES 4 ~84,000 93,708 85 28

COMMUNITY EDUCATION & MEDICAL

Community use, including public libraries, recreation/ DC’s ability to provide educational services for students from community centers, and parks comprise about 8.5% of the 13.7 pre-kindergarten through high school can be demonstrated by million square feet of deliveries in the quality of life sector the 238 public and charter schools that serve 93,708 students since 2010. Major projects that have been delivered in 2018 in the District. On average there have been 692,000 sq. ft. in and 2019 include the Beacon Center, Capital View Library, and deliveries in primary/secondary schools (public and private) the Fields at RFK Campus (27 acres). Major projects currently per year since 2010 and this construction has resulted in more under construction include the Martin Luther King Jr. Library than 60 schools that have been either built or renovated. The (400,000 sq. ft.) and the Edgewood Recreation Center. One of major education projects that have been delivered in 2019 the largest park projects in the pipeline is the 11th Street Bridge include Kimball Elementary, Maury Elementary School, Park located adjacent to the 11th Street Bridge in Southeast DC. and Hyde-Addison Elementary School. Additionally, there It will be DC’s first elevated public park and include a range of are plans to deliver 925,000 sq. ft. of medical projects in the cultural amenities, including performance space, play areas, next three years. Major medical projects currently under public art, and an Exelon Environmental Education Center. construction include Georgetown University Hospital Pavilion and Children’s National Research & Innovation Campus. There are also plans to add a six-story community hospital and a 24- hour urgent care center and ambulatory care clinic on the Saint Elizabeth’s East Campus.

1. DC schools belonging to the Consortium of Universities of the Washington Metropolitan Area, NYU Washington, DC and University of California’s Washington Center 2. Office of the State Superintendent of Education. 2018-19 School Year Enrollment Audit Report and Data 3. Sustainable DC 2.0 plan. 4/23/2019 4. DC Public Library: www.dclibrary.org/hours-locations

TRANSPORTATION & QUALITY OF LIFE DEVELOPMENT (AUGUST 2019) INFRASTRUCTURE PROJECTS SQ. FT. COMPLETED (SINCE 2001) 306 22,443,285 2009 21 1,404,656 DC has introduced a variety of micromobility options to 2010 15 1,186,818 supplement existing transportation infrastructure over the last 2011 17 1,193,187 three years. In 2017 and 2018, DC became an early adopter of 2012 19 1,237,579 dockless vehicles with the introduction of dockless bikes and 2013 18 1,322,988 scooters. The presence of these dockless vehicles has rapidly 2014 13 1,528,010 expanded since their introduction and there are currently 2015 19 1,727,039 5610 dockless vehicles operated by eight companies in the 2016 24 2,379,575 District.5 In 2019, Revel Transit was granted a permit to operate 2017 17 1,556,544 up to 400 mopeds as part of a pilot with DC’s Department of 2018 17 962,210 Transportation.6 Additionally, 80 miles of bike lanes have been 2019 YTD 9 655,600 built in DC since 2000.7 There are also existing plans to install an UNDER CONSTRUCTION 18 2,410,944 additional 22 miles of bike lanes on roadways8, further enabling 2019 DELIVERY 5 819,402 individuals to utilize services such as the bicycles at one of 2020 DELIVERY 10 1,072,763 Capital Bike Share’s 278 stations in DC.9 Since Capital Bike 2021+ DELIVERY 3 518,779 Share’s inception in 2010, over 25 million trips have been taken, with over 10 million of these trips taking place over the last three PIPELINE 62 5,004,795 10 years. DC has incentivized and enabled the adoption of these NEAR TERM 27 2,590,979 flexible and shared transportation options in part to increase LONG TERM 35 2,413,816 connectivity to the growing number of libraries, recreation/ community centers, parks and schools in DC.  TOTAL 386 29,859,024

QUALITY OF LIFE DEVELOPMENT (AUGUST 2019, SQ. FT. IN THOUSANDS)

3500

3000

2500

2000

1500 1,475 1,073 1000

500 296 22 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019* 2020* 2021*

GROUNDBREAKING DELIVERIES PROJECTED DELIVERIES*

* projections based on targeted delivery dates of projects under construction as of August 2019

5. District Department of Transportation: https://ddot.dc.gov/page/dockless-vehicles-district 6. District Department of Transportation: https://ddot.dc.gov/page/shared-motor-driven-cycles-district 7. CityLab. How Washington, D.C. Built a Bike Boom 12/26/17 8. District Department of Transportation: https://ddot.dc.gov/page/bicycle-lanes 9. Sustainable DC 2.0 plan. 4/23/2019 10. Capital Bikeshare System Data. Data accessed 9/20/2019

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 75 ■ COMPLETED ■ UNDER CONSTRUCTION 14 ■ PIPELINE

1 8 9

17 4 27

11 SOUTH DAKOTA AVE

MASSACHUSETTS AVE 3 CONNECTICUT AVE

2 GEORGIA AVE

ROCK CREEK PARK

14TH ST. 21 15

U ST.

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G E O R G E W A S NEW YORK AVE H IN G T 25 O N M E M O R IA L P 12 K W Y

30 H ST. VIRGINIA 24

66 UNION 13 STATION 5 22 10 NATIONAL MALL E. CAPITOL ST. VIRGINIA U.S. CAPITOL

28 6 16 20 FORT DUPONT PARK M ST.

NATIONALS PARK 29 7 PENNSYLVANIA AVE

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QUALITY EST. VALUE 2 PROJECT WARD LOCATION DEVELOPER(S) OF LIFE SF ($M)1 DELIVERY

TOP QUALITY OF LIFE PROJECTS COMPLETED (Q3 2018–AUGUST 2019)

1 Calvin Coolidge 4 6315 5th St., NW Department of General Services / DC Public Schools 286,300 $163 Q3 19 Senior High School 2 Bancroft Elementary School 1 1755 Newton St., NW Department of General Services / DC Public Schools 146,000 $76 Q3 18 3 Sibley Memorial 3 5255 Loughboro Rd., NW Sibley Memorial Hospital 127,000 $35 Q3 19 Hospital Tower 4 Murch Elementary School 3 4810 36th St., NW Department of General Services / DC Public Schools 112,700 $83 Q3 18 5 Corcoran Gallery of Art 2 500 17th St., NW George Washington University 100,000 $80 Q3 18 6 Kimball Elementary School 7 3375 Minnesota Ave., SE Department of General Services / DC Public Schools 83,400 $54 Q3 19 7 Lawrence E. Boone 8 2200 Minnesota Ave., SE Department of General Services / DC Public Schools 68,000 $47 Q3 18 Elementary School 8 Milton Gottesman Jewish Day 4 6045 16th St., NW Jewish Primary Day School 60,000 $22 Q3 18 School of the Nation's Capital 9 Beacon Center 4 6100 Georgia Ave., NW The Community Builders / 58,000 $43 Q4 18 Emory United Methodist Church 10 Maury Elementary School 6 1250 Constitution Ave., NE Department of General Services / DC Public Schools 52,800 $52 Q3 19

TOP QUALITY OF LIFE PROJECTS UNDER CONSTRUCTION

11 Whittle School & Studios 3 4000 Connecticut Ave., NW The 601 W Companies / Whittle School & Studios 620,000 $185 Q3 19 12 Medstar Georgetown 2 3800 Reservoir Rd., NW MedStar Georgetown University Hospital / 497,000 $560 Q1 22 University Hospital Pavilion Trammell Crow Company 13 Martin Luther King Jr. Library 2 9th & G Sts., NW Jair Lynch Real Estate Partners / DC Public Library 400,000 $212 Q3 20 14 Children's National Research & 4 7144 13th Pl., NW Children's National Medical Center 400,000 $250 Q4 20 Innovation Campus 15 Harriet Tubman Quadrangle 1 2455 4th St., NW Provident Group / Howard University 158,000 $45 Q4 19 16 Jefferson Academy 6 801 7th St., SW Department of General Services / DC Public Schools 109,000 $78 Q3 20 17 Georgetown Day School 3 4203 Davenport St., NW Georgetown Day School 88,613 Q3 20 Tenleytown Campus 18 Thaddeus Stevens School 2 1050 21st St., NW Akridge / Argos Group / 40,000 $20 Q3 20 Department of General Services / DC Public Schools 19 Bread for the City 8 17th & Good Hope Rd., SE Bread for the City 27,650 $26 2020/21 20 Southwest Library 6 900 Wesley Pl., SW DC Public Library 20,792 $18 Q1 21

TOP QUALITY OF LIFE PROJECTS PIPELINE

21 McMillan Sand Filtration Site 5 North Capitol St. & Jair Lynch Real Estate Partners / 1,017,500 $720 2023 Michigan Ave., NW Trammell Crow Company / EYA 22 555 Pennsylvania Avenue 2 555 Pennsylvania Ave., NW John Hopkins University 400,000 $200 2023 23 Saint Elizabeths East 8 Saint Elizabeths East DC Government 322,000 $300 2022 (New Hospital) Campus 24 55 H Street 6 55 H St., NW Georgetown University 220,000 25 Banneker Academic 6 925 Rhode Island Ave., NW Department of General Services / DC Public Schools 175,000 $152 2021 High School 26 Skyland Town Center (Ph II B) 7 Alabama Ave. & Rappaport / WC Smith / Washington East 120,000 2022 Naylor Rd., SE 27 West Elementary School 4 1335 Farragut St., NW Department of General Services / DC Public Schools 88,600 $78 2021 28 Eastern Market Park 6 701 Pennsylvania Ave., SE Department of General Services / $14 2021 Department of Parks & Recreation 29 11th Street Bridge Park 8 11th Street Bridge Building Bridges Across the River / $74 2023 DC Department of Transportation 30 Franklin Park 2 13th, 14th, I, & K Sts., NW Department of General Services / $18 2020 National Park Service

1) may include non-quality of life components & pipeline values may include additional phases ($ in millions) 2) delivery date may reflect phase I delivery or final phase delivery for pipeline projects. DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 77 DEVELOPMENT HIGHLIGHTS Image courtesy of MCN Build

WARD 7 WARD 7

CAPITOL VIEW LIBRARY THE FIELDS AT RFK CAMPUS

LOCATION: 5001 Central Avenue, SE LOCATION: RFK Stadium Campus (North, Lot 7) DEVELOPER(S): DC Public Library DEVELOPER(S): Events DC ARCHITECT(S): R. McGhee & Associates ARCHITECT(S): Hord Coplan Macht CONTRACTOR(S): Broughton Construction Company CONTRACTOR(S): MCN Build STATUS: Completed EST. VALUE: $8 million EST. VALUE: $36 million TARGETED DELIVERY: Q1 2019 STATUS: Completed TARGETED DELIVERY: Q2 2019 SPECS: The Capitol View Library underwent major renovations that included expanding space for programming, upgrades to the heating, air conditioning and electrical systems, new windows, more meeting and study spaces in varying SPECS: The 27-acre Lot 7 was transformed into three artificial multi-purpose sizes, new larger elevator, new furniture, and carpet and fixtures. recreational fields as part of the 190-acre RFK Stadium site reuse plan. The transformation also included a picnic area, playground, and a 6,000 sq. ft. pavilion. Image courtesy of Perkins + Will

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SOUTHWEST LIBRARY MAURY ELEMENTARY SCHOOL

LOCATION: 900 Wesley Place, SW LOCATION: 1250 Constitution Avenue, NE DEVELOPER(S): DC Public Library DEVELOPER(S): Department of General Services / DC Public Schools ARCHITECT(S): Perkins + Will ARCHITECT(S): DLR Group CONTRACTOR(S): Turner Construction Company CONTRACTOR(S): MCN Build LEED: Gold EST. VALUE: $18 million LEED: Gold EST. VALUE: $52 million STATUS: Under Construction STATUS: Completed TARGETED DELIVERY: Q1 2021 TARGETED DELIVERY: Q3 2019

SPECS: A new two-story, 21,000 sq. ft. library will replace the existing library. SPECS: The modernization of Maury Elementary School preserved the historic The new library will feature a 3,300 sq. ft. green roof and solar panels. building (c. 1880s) and constructed a new building adjacent to the historic structure. The modernized school can accommodate 539 students.

WARD 1 WARD 4

BANCROFT ELEMENTARY SCHOOL WEST ELEMENTARY SCHOOL

LOCATION: 1755 Newton Street, NW LOCATION: 1335 Farragut Street, NW DEVELOPER(S): Department of General Services / DC Public Schools DEVELOPER(S): Department of General Services / DC Public Schools ARCHITECT(S): Ayers Saint Gross ARCHITECT(S): Perkins Eastman DC CONTRACTOR(S): Coakley & Williams Construction CONTRACTOR(S): Gilbane Building Company / Saxon Collaborative LEED: Gold EST. VALUE: $76 million EST. VALUE: $78 million STATUS: Completed STATUS: Near Term TARGETED DELIVERY: Q3 2018 TARGETED DELIVERY: Q3 2021

SPECS: The modernized Bancroft campus consists of five adjoining buildings SPECS: A new West Elementary School with a 560-student capacity will totaling approximately 146,000 sq. ft. and serves approximately 550 students. be built on the existing site. The new building is designed for WELL The redevelopment of this campus made the various buildings on campus more Certification and DC’s first public net-zero school building. unified both operationally and administratively. Image courtesy of the NoMa Parks Foundation Image courtesy of 11

WARD 5 WARDS 6/8 th Street Bridge Park

ALETHIA TANNER PARK 11TH STREET BRIDGE PARK

LOCATION: Harry Thomas Way & Q Street, NE LOCATION: 11th Street Bridge DEVELOPER(S): NoMa Parks Foundation DEVELOPER(S): 11th Street Bridge Park / DC Department of Transportation ARCHITECT(S): Nelson Byrd Woltz / Studio 27 ARCHITECT(S): Olin / OMA CONTRACTOR(S): Forrester Construction Company CONTRACTOR(S): WRA EST. VALUE: $27 million STATUS: Near Term EST. VALUE: $74 million STATUS: Under Construction TARGETED DELIVERY: 2023 TARGETED DELIVERY: Q1 2020 SPECS: The 11th Street Bridge Park will be Washington’s first elevated public park, spanning the Anacostia River, and will be erected on the existing piers SPECS: The 2.5-acre Alethia Tanner Park is located north of New York Avenue of the former 11th Street Bridge. The Park will be the length of three football with the Metropolitan Branch Trail (MBT) to the east. The design includes fields and include programming such as an amphitheater, urban agriculture, an open green lawn, stage area, a playground, a dog park, small café kiosk, and café, hammock grove and classrooms to teach students about river system. An connections to the MBT. Exelon Environmental Education Center, powered by solar panels and charging stations, will teach people about the river and environment.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 79 DEVELOPMENT HIGHLIGHTS Conceptual design

WARD 2 WARD 8

555 PENNSYLVANIA AVENUE SAINT ELIZABETHS EAST (NEW HOSPITAL)

LOCATION: 555 Pennsylvania Avenue, NW LOCATION: Saint Elizabeths East Campus DEVELOPER(S): John Hopkins University DEVELOPER(S): DC Government ARCHITECT(S): Ennead Architects / SmithGroup EST. VALUE: $300 million CONTRACTOR(S): Clark Construction Group STATUS: Near Term EST. VALUE: $200 million TARGETED DELIVERY: 2022/23 STATUS: Near Term TARGETED DELIVERY: Q2 2023 SPECS: The northern portion of the St. Elizabeths East Campus will be redeveloped into a six-story community hospital and a 24-hour urgent care center and ambulatory care clinic. The new hospital will be managed by George SPECS: The former Newseum will be sold to Johns Hopkins University Washington University and will have 100–125 beds and an 800-car parking and transformed into 400,000 sq. ft. of educational uses by Johns Hopkins garage. This hospital will replace United Medical Center (UMC) located on University (JHU). JHU will consolidate several of its graduate-level Southern Avenue. programming, anchored by its School of Advanced International Studies. The renovations will require significant reconfiguration of the building's floor slabs and facade changes to allow more natural light into the space. Image courtesy of Trammell Crow

WARD 2 WARD 2

MEDSTAR GEORGETOWN UNIVERSITY HOSPITAL PAVILION MARTIN LUTHER KING JR. LIBRARY

LOCATION: 3800 Reservoir Road, NW LOCATION: 9th & G Streets, NW DEVELOPER(S): MedStar Georgetown University Hospital / DEVELOPER(S): DC Public Library / Jair Lynch Real Estate Partners Trammell Crow ARCHITECT(S): Mecanoo / Martinez & Johnson / OTJ Architects ARCHITECT(S): Shalom Baranes Associates / HKS PC CONTRACTOR(S): Smoot Construction DC / Gilbane Building Company CONTRACTOR(S): Clark Construction Group LEED: Gold EST. VALUE: $212 million EST. VALUE: $560 million STATUS: Under Construction STATUS: Under Construction TARGETED DELIVERY: Q3 2020 TARGETED DELIVERY: Q1 2022 SPECS: The existing four-story, 400,000 sq. ft. library will undergo a major SPECS: Plans for the new hospital pavilion call for a new six-story, 497,000 sq. modernization which will add a one-story 14,900 sq. ft. penthouse/roof ft. medical facility on an existing parking lot and renovations to the existing garden. The 1st floor will include a “great hall” informal performance space, hospital. Programmatic highlights of the new pavilion include 32 operating Level A will include a 19,000 sq. ft. maker space (“Fab Lab”), the 3rd floor will rooms, a 32-treatment bay emergency department, 156 private patient rooms include a two-story grand reading room, and the 4th floor will feature a two- and a new rooftop helipad. story 300-seat auditorium.

WARD 5 WARD 2

EDGEWOOD RECREATION CENTER 1772 CHURCH STREET

LOCATION: 301 Franklin St, NE LOCATION: 1772 Church Street, NW DEVELOPER(S): Department of Parks & Recreation / DEVELOPER(S): May Riegler Department of General Services ARCHITECT(S): Hickok Cole Architects ARCHITECT(S): Moody Nolan EST. VALUE: $26 million CONTRACTOR(S): Coakley & Williams Construction STATUS: Completed LEED: Gold EST. VALUE: $22 million TARGETED DELIVERY: Q1 2019 STATUS: Under Construction TARGETED DELIVERY: Q4 2019 SPECS: The Saint Thomas Episcopal Church redeveloped its site at 1772 Church Street into a seven-story, 51-unit residential building and a new four-story, th SPECS: The 19,400 sq. ft. Edgewood Recreation Center will replace the existing 18,000 sq. ft. church fronting 18 Street. smaller recreation center. New amenities will include a rooftop urban farm, full- size indoor gymnasium, multipurpose rooms, new athletic courts, multi-purpose athletic field, splash park, walking trail, and kitchen. The new center can also be used as shelter for the community with a natural gas-powered generator. Image courtesy of Michael Marshall Design Image courtesy of Bonstra | Haresign Architects

WARD 8 WARD 5

BREAD FOR THE CITY PAULIST FATHERS RESIDENCE & MISSION HOUSE

LOCATION: 17th & Good Hope Road, SE LOCATION: St. Paul's College DEVELOPER(S): Bread for the City DEVELOPER(S): Missionary Society of St. Paul the Apostle ARCHITECT(S): Michael Marshall Design ARCHITECT(S): Bonstra | Haresign Architects CONTRACTOR(S): Hamel Builders CONTRACTOR(S): HESS Construction EST. VALUE: $26 million STATUS: Near Term STATUS: Under Construction TARGETED DELIVERY: 2020 TARGETED DELIVERY: 2020/21 SPECS: Situated on an undeveloped parcel immediately to the southwest of the landmarked St. Paul's College campus, the new 29,900 sq. ft. Paulist Fathers SPECS: The site of the former Murphy's Auto Body parking lot will be Residence & Mission House will serve as the Paulists' downsized Washington redeveloped into a three-story, 27,650 sq. ft. service center for Bread for the home. The configuration of the building distinguishes the two-story residential City. The new building will provide 75,000 residents access to legal and medical wing from the public functions (chapel, refectory, ministry, etc.) of the program. services, including physicals for jobs, dental services, and minor surgical procedures. There will also be a rooftop garden.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 81 NEIGHBORHOOD DEVELOPMENT

NEIGHBORHOOD NEIGHBORHOOD DEVELOPMENT

ANACOSTIA ANACOSTIA WATERFRONT / CAPITOL RIVERFRONT CAPITOL HILL / PENNSYLVANIA AVE, SE GOLDEN TRIANGLE / WEST END RHODE ISLAND AVENUE, NE UNION MARKET / NOMA

Image by Tomorrow AB, courtesy of Carr Properties & Gensler ANACOSTIA

NEIGHBORHOOD DEVELOPMENT ANACOSTIA

PROJECT STATUS ■ Completed since 2010 ■ Under Construction ■ Pipeline Area of Interest

DATA AS OF AUGUST 2019

01. COLUMBIAN QUARTER 02. BARRY FARM 03. REUNION SQUARE

PIPELINE DEVELOPMENT

RESIDENTIAL 2,270 UNITS

2.9M SF OF OFFICE 276,800 SF OF RETAIL

04. MLK GATEWAY 05. 11TH STREET BRIDGE PARK

Note: development data only includes projects shown on map above. 01. Image courtesy of Four Points 03. Image courtesy of Four Points 04. Image courtesy of Menkiti Group 05. Image courtesy of 11th Street Bridge Park

NEIGHBORHOOD DEVELOPMENT ANACOSTIA WATERFRONT / CAPITOL RIVERFRONT

PROJECT STATUS ■ Completed since 2010 ■ Under Construction ■ Pipeline Area of Interest

DATA AS OF AUGUST 2019

RESIDENTIAL DEVELOPMENT

UNITS DELIVERED 4,318 SINCE 2010

UNITS UNDER 3,066 CONSTRUCTION

UNITS IN 6,252 THE PIPELINE

01. RIVERPOINT 02. 1900 HALF STREET

COMMERCIAL DEVELOPMENT

SF OF RETAIL UNDER 360 K CONSTRUCTION SF OF RETAIL 454.5 K IN THE PIPELINE SF OF OFFICE UNDER 855.8 K CONSTRUCTION SF OF OFFICE 4.2 M IN THE PIPELINE 03. HALF STREET 04. THE WHARF (PHASE II)

Note: development data only includes projects shown on map above. 01. Image courtesy of the Capital Riverfront BID. 03. Image courtesy of The JBG Companies.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 85 CAPITOL HILL / PENNSYLVANIA AVE, SE

NEIGHBORHOOD DEVELOPMENT CAPITOL HILL / PENNSYLVANIA AVE, SE

PROJECT STATUS ■ Completed since 2010 ■ Under Construction ■ Pipeline Area of Interest

DATA AS OF AUGUST 2019

01. 700 PENN 02. PENN ELEVEN 03. WATKINS ALLEY

DEVELOPMENT OVERVIEW

RESIDENTIAL UNITS 655 UNDER CONSTRUCTION

SF OF RETAIL SPACE 90 K COMPLETED SINCE 2010

SF OF RETAIL SPACE 98.7 K UNDER CONSTRUCTION

04. BECKERT'S PARK 05. BLACKBIRD

Note: development data only includes projects shown on map above. 04. Image courtesy of BKV Group.

NEIGHBORHOOD DEVELOPMENT GOLDEN TRIANGLE / WEST END

PROJECT STATUS ■ Completed since 2010 ■ Under Construction ■ Pipeline Area of Interest

DATA AS OF AUGUST 2019

HOTEL DEVELOPMENT

ROOMS DELIVERED 2,186 SINCE 2010

ROOMS UNDER 219 CONSTRUCTION

ROOMS IN 125 THE PIPELINE

01. 2100 PENNSYLVANIA AVENUE 02. 888 16TH STREET

OFFICE DEVELOPMENT

SF COMPLETED 7.0 M SINCE 2010

SF UNDER 2.1 M CONSTRUCTION

SF OF OFFICE 1.0 M THE PIPELINE

03. AC HOTEL 04. 2050 M STREET

Note: development data only includes projects shown on map above. 02. Image courtesy of Genlser. 03. Image courtesy of WDG Architecture. 04. Image courtesy of Tishman Speyer.

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 87 RHODE ISLAND AVENUE, NE

NEIGHBORHOOD DEVELOPMENT RHODE ISLAND AVENUE, NE

PROJECT STATUS ■ Completed since 2010 ■ Under Construction ■ Pipeline Area of Interest

DATA AS OF AUGUST 2019

RESIDENTIAL DEVELOPMENT

UNITS DELIVERED 1,142 SINCE 2010

UNITS UNDER 561 CONSTRUCTION

UNITS IN 3,484 THE PIPELINE

01. BRYANT STREET (PHASE I) 02. RHODE ISLAND ROW

RETAIL DEVELOPMENT

SF DELIVERED 75,100 SINCE 2010

SF UNDER 94,100 CONSTRUCTION

SF IN THE 364,600 PIPELINE

03. BROOKLAND PRESS 04. RIA

Note: development data only includes projects shown on map above. 03. Photo by John Cole, courtesy of Douglas Development.

NEIGHBORHOOD DEVELOPMENT UNION MARKET / NOMA

PROJECT STATUS ■ Completed since 2010 ■ Under Construction ■ Pipeline Area of Interest

DATA AS OF AUGUST 2019

RESIDENTIAL DEVELOPMENT

UNITS DELIVERED 3,570 SINCE 2010

UNITS UNDER 2,508 CONSTRUCTION

UNITS IN 6,187 THE PIPELINE

01. MARKET TERMINAL 02. THE BATLEY

COMMERCIAL DEVELOPMENT

SF OF RETAIL UNDER 188.7 K CONSTRUCTION SF OF RETAIL 404.6 K IN THE PIPELINE SF OF OFFICE 1.8 M COMPLETED SINCE 2010 SF OF OFFICE 2.3 M IN THE PIPELINE 03. ONE 501 04. ECKINGTON YARDS

Note: development data only includes projects shown on map above. 01. Image by Tomorrow AB, courtesy of Carr Properties & Gensler. 03. Image courtesy of Foulger-Pratt

DC DEVELOPMENT REPORT • 2019 / 2020 EDITION 89 APPENDIX

APPENDIX APPENDIX

METHODOLOGY ACKNOWLEDGMENTS METHODOLOGY

APPENDIX

THE GOAL OF THE WASHINGTON DC ECONOMIC PARTNERSHIP was to Primary Sources create a comprehensive database of development activity that • Architects • DC Office of the Deputy would help us find answers to the following questions: Mayor for Planning & • Building Permit Data Economic Development • What is the make-up of • What are the trends? development activity? • Certificates of Occupancy • DC Office of the Chief • How much is being Financial Officer • Where is the development invested in our • Developers activity occurring? community? • DC Office of Zoning • DC Office of Planning However, before we could begin to collect development • General Contractors information we had to create a methodology to give us guidance on what data to assemble on each project and which projects • Project Managers to include in our database. For a detailed explanation of our methodology please visit wdcep.co/dcdr-method. Secondary Sources • Brokers • Media & Newspapers While our database of projects is constantly being updated, for the purposes of this publication, all data reflects project status, • Business Improvement • Neighborhood design and information as of August 2019. Districts Newsletters & Blogs

Where do we get our information? Adding or Updating Information

To capture the most comprehensive inventory, we use a variety If you are looking for information about a specific project and of sources to gather information about development activity, you do not see it on our list, it may have been omitted for one of and whenever possible, we contact the developers directly to the following reasons. get the most up-to-date and accurate information available and do site location visits to verify the project’s status. Often 1. IT DID NOT MEET THE $5 MILLION THRESHOLD OR our research uncovers discrepancies in available data on 10 RESIDENTIAL UNIT MINIMUM project information such as square footage, cost, number of 2. WE ARE MISSING A KEY PIECE OF INFORMATION units, etc. When this occurs, we try to reconcile the differences 3. WE HAVE QUESTIONS ABOUT THE VALIDITY OF THE DATA by speaking directly with parties involved in the development. 4. WE MAY NOT KNOW ABOUT IT Some of our sources include:

To add or update a record in our database, please contact:

Chad Shuskey Mitchell Batchelder Senior Vice President, Research & Real Estate Research Analyst (202) 661-8674 / [email protected] (202) 661-8683 / [email protected]

APPENDIX

The Washington DC Economic Partnership would like to thank the following organizations for their contributions to this year’s DC Development Report.

11th Street Bridge Park Gallaudet University Office of the Deputy Mayor for Planning & Adams Investment Group Gensler Economic Development AEDC George Washington University Paradigm Companies Akridge Gilbane Construction Perkins + Will Armed Forces Retirement Home GlobeSt.com Perkins Eastman DC Atelier Architects Golden Triangle BID PGN Architects Ayers Saint Gross Gould Property Company Potomac Investment Properties Balfour Beatty Construction H Street CDC Prince of Petworth BISNOW Hartman-Cox Architects Property Group Partners Bonstra | Haresign Architects Hickok Cole Architects Rappaport Boston Properties Horning Brothers Redbrick LMD Bozzuto Howard University Roadside Development Bush Construction Insight Property Group Rock Creek Property Group Capitol Riverfront BID Jair Lynch Development Partners Shalom Baranes Associates Carr Properties James G. Davis Construction Corporation Skanska Coakley Williams Construction Company JBG Smith SmithGroup Community Three Development JD Land Smithsonian, National Air & Space Museum Dantes Partners Kettler Smoot Construction Company of DC Curbed LCOR Washington DC DC Department of Parks & Recreation Level 2 Development Stonebridge Carras DC Department of Transportation Lincoln Property Company Torti Gallas + Partners DC Public Library Lock 7 Development Urban Turf DCS Design Lowe Enterprises UIP Donohoe Companies May Riegler Urban Matters Development Partners Eastbanc McCaffery Interests Washington Business Journal EDENS MCN Build Washington Post Erkiletian Development Menkiti Group WC Smith Fillat+ Architecture Michael Marshall Design WDG Architecture Forrester Construction Company Mid-City Wilkes Companies Fort Lincoln New Town Corporation Monument Realty WMATA Foulger-Pratt Companies Neighborhood Development Company Four Points NoMa Parks Foundation

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