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DC Development Report: 2012/2013 Edition
 

DC Development Report: 2012/2013 Edition

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According to the Washington DC Economic Partnership’s 12th annual DC Development Report, there is 21.5M sq. ft. under construction, with a total estimated value of $9.5 billion. 2012 has been a ...

According to the Washington DC Economic Partnership’s 12th annual DC Development Report, there is 21.5M sq. ft. under construction, with a total estimated value of $9.5 billion. 2012 has been a record year in residential construction with 10,357 units under construction – the most since 2001.

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    DC Development Report: 2012/2013 Edition DC Development Report: 2012/2013 Edition Presentation Transcript

    • DCDC Development Report 2012/2013 edition Development Report 2012/2013 edition Rendering: 655 New York Avenue, NW
    • DC Development Report 2012/2013 edition Image courtesy of Douglas Development Square 450 | 655 New York Avenue, NW | Douglas Developmenta publication of the in partnership with
    • About The DC Development Report The DC Development Report is a summary of the major development and construction projects in the District of Columbia. The Washington, DC Economic Partnership (WDCEP) began tracking development activity in 2001 with the hope of creating a comprehensive database that would answer a number of questions in regards to the construction activity in the city. The Report summarizes our entire database of projects, highlights major projects and what lies ahead for development in the District of Columbia. This update of the DC Development Report is an overview of development activity and of the expansion occurring in the District of Columbia. As a resource book, it is a compilation of nearly 12 years of data collection and research that provides an overview of an ever-changing development and construction cycle. The WDCEP performs an annual “development census” in the month of August and receives contributions from more than 120 developers, architects, contractors and economic development organizations. This outreach results in updates to more than 300 projects. While our database of projects is constantly being updated, for the purposes of this publication all data reflects project status, design and information as of August 2012. This year the WDCEP partnered with CBRE to provide an executive summary on the overall construction market and in-depth analysis of each development market. Although every attempt was made to ensure the quality of the information contained in this document, the WDCEP and CBRE make no warranty or guarantee as to its accuracy, completeness or usefulness for any given purpose. For more information please see our Methodology section. © Washington, DC Economic Partnership, 20122 © 2012 Washington, DC Economic Partnership
    • Table of Contents1 Development Overview Executive Summary . . . . . . . . . . . . . . . . . . . . . . . 6 Summary of Projects . . . . . . . . . . . . . . . . . . . . . . 10 Most Active Developers, Architects & Contractors . . . . 122 Development by Sector Office . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Retail . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Residential . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 Hospitality . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 Education . . . . . . . . . . . . . . . . . . . . . . . . . . . . 593 Development Hot Spots Anacostia . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 Capitol Riverfront . . . . . . . . . . . . . . . . . . . . . . . 72 Mount Vernon Triangle . . . . . . . . . . . . . . . . . . . . 74 NoMa . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76 Shaw . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 804 Appendix Methodology . . . . . . . . . . . . . . . . . . . . . . . . . 84 Acknowledgements . . . . . . . . . . . . . . . . . . . . . . 87 DC Development Report 2012/2013 Edition 3
    • Developme
    • ment Overview 1 Executive Summary | Summary of Projects || Summary of ProjectsDevelopment Executive Summary Most Active | Green | Description Most Active
    • Development Overview Executive Summary The educated workforce, nationally-ranked universities, world-renowned museums, tourist attractions and high quality amenities that attract residents and visitors have made the District of Columbia a top tier investment market. Despite the uncertainty surrounding the national economy, DC’s economy has continued to thrive, adding an estimated 8,200 jobs in the past year1. Recent college graduates, “twenty-somethings” and baby boomers are moving into the city at a greater level than seen in recent years, as these groups demand a “24/7” environment, walkable neighborhoods, and easy access to neighborhood services. This has translated into new jobs, new retailers and restaurants, diverse transportation services and have created demand for new development. Through August 2012, 6.7 million square feet had broken ground in 2012 across all major development markets. By the end of 2012 we expect that figure to top 7.8 million square feet as several mixed-use projects are anticipated to start construction by the end of 2012. Residential Since 2000, the population of DC has grown by 8.0% and now is home to 617,996 residents. 2 The interest in urban living spurred a boom in residential construction, as over 42,000 residential units have been built (or underwent major renovations) since 2001. More significantly is that DC has grown by 43,592 people in the past four years (2007 – 2011) and now has more than 10,350 residential units under construction—the highest activity in the past 10 years. More than 90% of the units under construction are rental and with many new residences now in the 500 – 600 square foot range, these market-rate units are targeting the “young professionals.” Office While the total number of jobs in DC has now surpassed 736,6003, the historic drivers of DC’s office market (law firms and the federal government) have stopped expanding and becoming more efficient with their existing space. When looking at the largest 25 leases in the past year, nearly half were renewals or renewals with expansion, well above the historic average of 30% and thus limiting demand for new office development.4 Through August, 2012 saw 1.1 million square feet of office construction/renovation starts in private projects with more than 50,000 square feet of office. By the end of 2012 that number could reach 1.4 million square feet with two additional projects expected to start in 4Q 2012. Of the 1.4 million square feet, approximately 40% of the space is preleased. While the total 2012 expected groundbreakings is on the lower end of the past 12 years, it is about 15% higher than in 2011 and 120% higher than 2010—a year that saw only 636,000 square feet of private office projects with more than 50,000 square feet of office space start construction/renovation. REtail 2013 will see major mixed-use developments such as CityCenterDC (185,000 sq. ft. of retail), 360 H (41,200 sq. ft. Giant), Monroe Street Market (50,269 sq. ft. of retail) and the Wonder Bread Factory (39,741 sq. ft. of retail) contribute to the more than 434,000 square feet of new retail project deliveries. The following year will see major mixed-use projects such as 77 H (76,000 sq. ft. Walmart), CityMarket at O (75,000 sq. ft. Giant), Louis at 14th/U (Trader Joes) and Twelve12 (50,000 sq, ft. Harris Teeter) open and with the recent groundbreakings of Cathedral Commons (56,000 sq. ft. Giant Food) and Safeway’s Petworth redevelopment (new 63,000 sq. ft. store), 2014 is expected to deliver an additional 587,000 square feet of retail space.5 2014 will mark the most retail deliveries since 2008, a year that delivered more than 867,000 square feet of retail, which included the opening of the Target-anchored, 500,000 sq. ft. DC USA project in Columbia Heights. However, unlike 2008, 2014 will see major retail deliveries in more neighborhoods such as Capitol Riverfront, Brookland, 14th & U/MidCity, NoMa, Shaw and Petworth. Hospitality 2014 is shaping up to be the most significant year in hotel deliveries in the past 12 years. If development plans stay on schedule 1,357 new rooms will deliver with the total potentially increasing to 2,361 rooms if several pipeline projects break ground in the next few months. This would surpass 2008’s total of 2,159 new/renovated rooms. 1. DC Department of Employment Services Office (9/2011-9/2012, preliminary estimates)  2. Census (2011)  3. DC Department of Employment Services Office (9/2012, preliminary estimates)  4. CBRE Research  5. Cathedral Commons and Safeway’s Petworth are still listed as near term in the report since both started construction after data was collected6 © 2012 Washington, DC Economic Partnership
    • Development Overview Executive SummaryThe largest project to deliver in 2014 will be the new 1,175-room Marriott Marquis (Convention Center Hotel) followed bythe 182-room Cambria Suites Hotel. The 1,000+ rooms that are currently planned, but may deliver in 2014, include a HiltonGarden Inn (2201 M Street, NW), Hyatt Place Hotel (New York Avenue & North Capitol Street, NE), Hampton Inn (1729 HStreet, NW) and Homewood/Hampton Inn (501 New York Avenue, NE).EducationThrough August 2012, more than 1.7 million square feet of education space is under construction1. This represents thehighest total since 2008 (1.9 million sq. ft.). This development activity corresponds to 43% college/university projects, 39%public high schools and 17% medical space. The new Dunbar Senior High School and modernized Cardozo High Schoolmake up the 689,000 square feet of public schools under construction. Expansion plans by George Washington University,American University and the University of the District of Columbia are mainly responsible for the 759,000 square feet ofcollege/university projects under construction.By the end of 2012 New York University’s 75,000 sq. ft. Constance Milstein & Family Academic Center (September 2012delivery) and E.L. Haynes’ 36,000 sq. ft. Kansas Avenue Public Charter School will also open.Industrial MarketWhile not a focus of the DC Development Report, the industrial sector plays an integral role in the makeup of the DC realestate market. It differs from most other regions because DC is not known as a manufacturing hub. High land value within thecity limits has historically lent itself to higher-revenue office or residential space. Developers, looking to maximize the returnon their investment, tend to steer clear of erecting new industrial product with a DC address as they explore developmentopportunities in the city’s core areas.The highest concentration of large warehouse space in the city lines New York Avenue, NE. The industrial parks that surroundthis major thoroughfare utilize the transit advantages it offers in a high traffic urban setting. The majority of large warehousebuildings resides in this area and is generally older, Class B and C product. Another concentration of smaller product inNortheast DC follows the CSX rail line north of Union Station and fronting the Anacostia River in the Capitol Riverfront.The availability of mid-size blocks of space has tightened across the District, but tenant demand remains as businesses inthe public sector need to operate within DC. This space is “needed to house those quasi-industrial functions such as wastehauling and transfer, street cleaning and plowing, road construction and repair, water and sewer construction and repair,and police, fire, and parking enforcement services that are essential to the business of city government.”2Tenants with flexibility have found attractive options in industrial-laden Prince George’s County, Maryland, which neighbors DC andhas newer product, cheaper rents and more large blocks of space. This trend, coupled with revitalization projects in the works andlittle industrial development in DC in the last decade (360,000 sq. ft.), will continue to constrict an already strained environment.10 Largest Industrial Leases Since 20113 Sq. Ft. Tenant Address Date 92,286 DC Government 2850 New York Avenue, NE 1Q 2011 30,400 Solo Furniture Installers, Inc. 3525 V Street, NE 2Q 2012 25,541 Crane Services 3335 V Street, NE 1Q 2012 24,399 Ideal Electrical Supply Corporation 2230 Adams Place, NE 3Q 2012 23,633 Forever Blossoms 3150-3160 V Street, NE 4Q 2011 20,000 Verifone 3300-3390 V Street NE 2Q 2012 19,262 Pitney Bowes, Inc 3300-3350 New York Avenue, NE 3Q 2012 19,200 District Food Vending 1901 Fairview Avenue, NE 3Q 2012 17,500 GSA 3015-3055 V Street, NE 1Q 2012 15,000 American Medical Response 2825 V Street, NE 4Q 20111. including medical space­  2. Industrial Land in a Post-Industrial City, DC Office of Planning (2006)  3. CBRE Research DC Development Report 2012/2013 Edition 7
    • Development Overview Executive Summary Project Management1 Statistically speaking, the beginning of 2012 has seen a slightly positive growth period for the commercial construction industry in the District. The District’s average is 5-6% more costly than Baltimore or Annapolis as selling prices have been increasing faster than material prices, escalating now 3%-4%. The DC market was essentially modest to flat in general construction activity (i.e., tenant build-outs/interior construction) with exception to on-going builds such as CityCenterDC. The new activity was attributed to the steady flow of releases. In most of these situations, clients look to have minor changes to the space such as paint and carpet improvements. As it relates to the private sector, most building owners of commercial office buildings continued to hold off on making major investments in their building’s infrastructure. They have instead focused on specific aesthetics and this trend continues to be compounded with little demand from end users as a competitive negotiation tactic when seeking an aggressive lease rate. Similar to the beginning of 2012, the moderate to flat construction activity will continue. As we glance to the future, we notice the overall construction costs appearing to remain steady with no major fluctuations. Individual project costs are generally averaging around $65 per square foot for general office space. Furthermore, expect moderate labor shortages in the near future to push prices at least another 1% higher, with escalations estimated at 4%-5%, in 2013. The major contributors to cost impacts on a per trade basis are in millwork, glass and metals. One positive influence to the cost of materials and products are those considered to have a “sustainable” focus. As demand remained constant by end users, manufactures and services providers have incorporated sustainable practices and materials into their deliverable as a matter of practice. This trend had a major positive impact on the area by creating more efficient facilities that combine to create an overall attractive market in competing with other markets in the U.S., ultimately creating the environment of positive construction activity. Moving into 2013, little movement in non-residential construction will yield flat prices. The anticipated cost of labor increase by June 2013 will be negligible as material costs follow the same trends, unless a major world event/conflict triggers the markets. Green Development DC has a total of 316 LEED certified buildings/projects with another 1,054 LEED registered projects2. With DC’s public and private push towards sustainability, DC now ranks second in the U.S. in combined registered and certified buildings3. While the Green Building Act of 2006 and Clean and Affordable Energy Act of 2008 requires LEED certification and encourages sustainability, tenant demand for “green” features was a driving force for developers and landlords to incorporate green elements into their projects before these legislative deadlines. This is evident in the 256 ENERGY STAR labeled buildings and that more than half of the LEED certified buildings/projects are Gold certified. Furthermore, Platinum buildings are becoming more common. In addition, 16 residential projects that are participating in the Enterprise Green Communities have been completed since 2007, with another eight under construction. Total Number of Certified LEED Building/Projects2 35 87 160 34 316 Certified  Silver  Gold  Platinum 1. tenant build-outs/interior construction  2. District Department of the Environment (3Q 2012)  3. District Department of the Environment (5/4/12)8 © 2012 Washington, DC Economic Partnership
    • Green Development
    • Development Overview Summary of Projects DC Development Deliveries ($ in billions) Completed  Under Construction $4.78 $4.39 $4.13 $3.71 $3.60 $3.05 $2.76 $2.67 $2.67 $2.51 $2.39 $2.32 $2.22 $2.19 $1.02 $1.65 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20121 20131 20141 DC Development Projects By Status (August 2012) DC Development Projects By Type # of Projects Sq. Ft. Estimated Cost # of Projects Sq. Ft. 2 Estimated Cost New Construction 871 210,644,223 $67,501,700,154 Completed 940 120,976,506 $34,931,352,284 in 2001 79 10,863,811 $2,224,531,829 Renovation 478 58,269,466 $12,410,654,877 in 2002 85 9,189,374 $2,190,473,500 Infrastructure 46 n/a $3,603,466,000 in 2003 95 11,409,328 $3,053,046,485 in 2004 97 11,591,945 $2,761,862,000 DC Development Projects by Use3 in 2005 87 10,180,302 $2,390,115,944 # of Projects Sq. Ft. Units/Rooms in 2006 102 12,933,180 $3,705,380,585 in 2007 73 11,621,355 $3,599,389,760 Education 186 16,820,763 in 2008 81 12,154,851 $4,128,790,000 Medical 27 4,115,190 in 2009 86 12,248,868 $4,390,058,073 College/University 51 5,228,948 in 2010 52 7,977,660 $2,508,795,163 Other Education 108 7,476,625 in 2011 57 5,944,403 $2,324,623,945 Hospitality 225 23,289,143 18,720 in 2012 (YTD) 46 4,861,429 $1,654,285,000 Community 91 2,256,081 Entertainment 26 4,236,932 Under Construction 113 21,526,569 $9,479,543,000 Hotel 83 12,900,180 18,720 2012 delivery 37 3,703,786 $1,015,849,000 Museum 39 3,895,950 2013 delivery 50 10,627,553 $4,775,916,000 2014 delivery 22 5,913,412 $2,669,141,000 Industrial 7 953,192 2015+ delivery 4 1,281,818 $1,018,637,000 Infrastructure 46 Office 349 99,130,123 Pipeline 342 127,371,932 $39,104,925,747 Near Term 87 11,512,628 $3,123,993,747 District Government 7 1,553,500 Medium Term 106 17,792,058 $4,575,279,000 Federal Government 41 18,588,461 Long Term 149 98,067,246 $31,405,653,000 Residential 679 104,608,559 101,243 Total 1,395 269,875,007 $83,515,821,031 Retail 457 13,419,915 1. projections based on targeted delivery dates of projects under construction as of August 2011  2. total by type may not sum to totals by status due to incomplete information about infrastructure projects  3. all projects (completed, under construction & pipeline); mixed-use projects may be reflected in multiple uses10 © 2012 Washington, DC Economic Partnership
    • Development Overview Summary of Projects Office  Retail  Residential  Hospitality  Education Projects Completed (2001–August 2012) # of Projects Sq. Ft. Units RoomsOffice 207 45,198,447Retail 232 4,523,952 121.0M Sq. Ft. CompletedResidential 435 43,903,233 42,268Hospitality 142 14,747,778 10,583Education 139 11,078,438Total Estimated Value of Projects: $34.9 billionProjects Under Construction # of Projects Sq. Ft. Units RoomsOffice 29 6,324,827Retail 46 1,162,038 21.5M Sq. Ft. Under ConstructionResidential 53 9,580,027 10,357Hospitality 16 2,029,418 1,667Education 14 1,751,000Total Estimated Value of Projects: $9.5 billionProjects Near Term # of Projects Sq. Ft. Units RoomsOffice 15 2,403,834Retail 44 1,788,372 11.5M Sq. Ft. Near TermResidential 52 6,129,389 6,438Hospitality 15 960,880 1,295Education 7 883,000Total Estimated Value of Projects: $3.1 billionProjects Medium Term # of Projects Sq. Ft. Units RoomsOffice 23 4,921,621Retail 49 1,065,075 17.8M Sq. Ft. Medium TermResidential 70 9,566,610 9,015Hospitality 19 1,032,455 1,227Education 7 614,000Total Estimated Value of Projects: $4.6 billionProjects Long Term # of Projects Sq. Ft. Units RoomsOffice 75 40,281,394Retail 86 4,880,478 98.1M Sq. Ft. Long TermResidential 69 35,429,300 33,165Hospitality 33 4,518,612 3,948Education 19 2,494,325Total Estimated Value of Projects: $31.4 billionNOTE: mixed-use projects may be reflected in multiple uses. DC Development Report 2012/2013 Edition 11
    • Development Overview Most Active Developers, Architects & Contractors The figures below list the developers, architects and contractors that have been the most active in contributing to DC’s development activity. Most Active Private Developers (# of projects)1 Completed  Under Construction  Pipeline PN Hoffman 16 1 1 18 Douglas Development Corporation 11 2 11 24 JAIR LYNCH Development Partners 20 3 5 28 WC Smith 16 5 8 29 The JBG Companies 20 8 11 39 Most Active Architects (# of projects)1 Hickok Cole Architects 28 5 9 42 WDG 27 4 13 44 Eric Colbert & Associates PC 30 5 9 44 Bonstra|Haresign Architects 28 8 14 50 Shalom Baranes Associates 34 9 23 66 Most Active General Contractors (# of projects) 2 WCS Construction LLC 14 4 8 26 Hamel Builders 17 7 2 26 James G Davis Construction Corporation 24 5 2 31 Forrester Construction Company 27 6 1 34 Clark Construction Group LLC 34 14 5 53 1. projects completed since 2001, under construction or in the pipeline  2. projects completed since 2007, under construction or in the pipeline12 © 2012 Washington, DC Economic Partnership
    • Increase YourNet Work.Attend INFORMATIVE PROGRAMS Benefit from ADVOCACYParticipate in POWER NETWORKING Help build COMMUNITYCreate OPPORTUNITY Increase your VISIBILITY dcbia.org DC Development Report 2012/2013 Edition 13
    • Developmen
    • nt by Sector 2 1 Office | |Retail | |Residential | |Hospitality | |EducationDescription Office Retail Residential Hospitality Education
    • Natural Gas. Efficient by Nature. Including natural gas in our project was a very smart decision. Plan Early Sell Faster with Natural Gas. If you don’t incorporate natural gas as a primary energy source into your plans, you’re missing a big opportunity. Savvy builders know that their clients prefer natural gas because of the comfort, cost savings, reliability and environmental benefits it affords. It’s easier than ever to include natural gas. • Attractive design alternatives are available through the use of the industry’s latest meters. They’re smaller, allowing for their placement in aesthetically pleasing locations. • Innovative piping options such as 2 psi delivery systems, and flexible copper and corrugated stainless steel piping help to reduce first costs. • Distributed Meter Rooms (DMR) provide the flexibility for individual unit meters to be installed in vertically stacked central gas meter rooms on each floor in a high rise multifamily building. Call Washington Gas for a free consultation. The Engineered Sales Team at Washington Gas is the resource you can count on for all multifamily development natural gas applications. Our representatives include a variety of professionals with the technical skills to understand your requirements and walk you through each stage of the process. To learn more about incorporating natural gas into your next project, email our Engineered Sales Team at EngineeredSales@washgas.com or visit PlanEarlySellFaster.com.
    • 1Office development Description
    • Office Development DC Office Market Snapshot (3Q 2012)1 Inventory 124.1M SF Total Vacancy Rate 10.1% Net Absorption (4Q11—3Q12) 274,248 SF Overall Avg. Asking Rental Rate $53.24/SF (FS) The demand for downtown DC office space continues to fall while availability rises. Due to economic uncertainty surrounding the federal budget, many tenants opted to remain in their current locations to avoid moving costs, or relocate to reduce space usage. Historically, DC’s primary demand drivers are the law firms of the AM Law 100 and the federal government. Recently, law firms began reducing workspace areas for all employees, including smaller partner offices while reducing filing/storage needs. Simultaneously, the federal government, under intense pressure to reduce costs, continues to consolidate multiple locations and reduce the total amount of occupied leased square feet. As of 3Q 2012, CBRE tracked the overall vacancy rate for the city at 10.1%, a relative constant over the year, and below the peak of 12.0% reached in 2010. The 12-month trailing total net absorption was 274,248 square feet, reflecting bright areas in an otherwise down leasing market. New demand is being driven by smaller companies that typically experience a recovery first, foreshadowing economic growth. In addition, several technology-related firms came to DC, beginning a further diversification of the tenant base in the city. The largest 25 lease transactions from the past year reflect the change in composition of transactions in the city and the impact the economy had on companies. While the portion of renewals historically hovers around 30%, the past year experienced tenants staying in place at a renewal transaction rate of nearly 50%. Largest 25 Lease Transactions by Deal Type2 Sublet Renewal + Expansion 4% 16% 48% New/Relet Renewal 32% Two of the city’s largest law firms recently committed to relocating to new buildings in the expanded business core of DC. Arnold & Porter and Covington & Burling each surprised the market with their decisions to move from the Pennsylvania Avenue corridor to new construction in the East End submarket. Covington & Burling’s lease at City Center will take 80% of the office space at the site, and Arnold & Porter will lease 75% of Boston Properties’ new project at 601 Massachusetts Avenue, once NPR moves to NoMa. New development continues to attract tenants in spite of the higher rental rates it commands. The design efficiencies of the build-outs allow companies to lower their real estate floor plan and associated costs, one of the few immediate expenses they can control. Therefore, many are able to upgrade the quality and location of their offices, while paying a lower annual rent. While this has had a negative impact on the Class A relet market, with large blocks of space returned to the market, the newly available space is in prime locations that allow new tenants to make a similar move. Sources: 1. CBRE Research  2. CBRE Research (4Q 2011 - 3Q 2012)20 © 2012 Washington, DC Economic Partnership
    • Office Development Development OverviewOffice Development (August 2012) 133 Private Office Construction Starts1 (since 2000) # of Projects Sq. Ft. (projects with 50,000+ sq. ft. of office)Completed 207 45,198,447 in 2001 27 6,331,725 in 2002 23 3,013,280 in 2003 19 2,769,592 in 2004 12 3,201,153 in 2005 17 3,622,716 in 2006 25 5,903,380 16 16 in 2007 16 4,276,463 in 2008 21 3,261,473 14 13 13 in 2009 23 6,033,060 12 in 2010 10 3,408,455 in 2011 10 2,442,869 12 in 2012 (YTD) 4 934,281 11 8 8Under Construction 29 6,324,827 2012 delivery 8 1,144,560 2013 delivery 19 4,440,249 2014+ delivery 2 740,018Pipeline 113 47,606,849 4 Near Term 15 2,403,834 3 3 Medium Term 23 4,921,621 Long Term 75 40,281,394 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Total 349 99,130,123 (YTD)Office Deliveries (sq. ft. in millions) Government Completed  Government Under Construction  Private Completed  Private Under Construction 6.3 6.0 5.9 0.4 2.3 1.5 11-year Annual Average 4.0 million sq. ft. 4.4 4.3 0.6 3.6 3.4 2.1 3.3 3.2 3.0 2.8 5.6 0.7 2.4 1.2 1.2 4.4 2.1 4.1 1.2 3.6 3.7 0.6 3.0 2.7 2.8 0.5 2.3 2.0 2.1 1.3 0.5 0.3 0.4 0.3 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20121 20131 201411. projects with 50,000+ sq. ft. of private office space 2. projections based on targeted delivery dates of projects under construction as of August 2012 DC Development Report 2012/2013 Edition 21
    • A Capitol Sub-Section Ideal. Forward-thinking design. A strategic location. 440 First Street, NW puts you ahead in every way. 141,000 SF, delivering Summer 2013 Pursuing LEED® Platinum certification Amenities include fitness center and rooftop terrace Retail and restaurant space on ground floor Near Union Station and Judiciary Square Metro station Visit 440First.com or call 202.783.8200 for more information. FPO_Corp_DC_440_PromotionAd_48667.indd 1 10/26/12 11:24 AM Holland & Knight is proud to support the Washington, DC Economic Partnership. We provide comprehensive advice on legal issues surrounding the building, development, managing, financing and leasing of projects around the city and nation. Our firm is dedicated to achieving your vision and goals. www.hklaw.com Neil Albert | Janis Schiff | Washington, DC | 202.955.3000 Copyright © 2012 Holland & Knight LLP All Rights Reserved22 © 2012 Washington, DC Economic Partnership
    • Office Development Development PipelineTop Office Projects Completed (2011 – August 2012)Project Ward Location Developer(s) Sq. Ft. Est. Value1 ($M) DeliverySquare 54 2 2200 Pennsylvania Ave., NW Boston Properties 439,798 $213 2011Supreme Court Modernization 6 Supreme Court Architect of the Capitol 414,289 $76 20111015 Half Street 6 1015 Half St., SE Douglas Wilson Companies 380,000 $180 2011Mary E. Switzer Building (Phase II) 6 330 C St., SW GSA 329,000 $62 2011Eisenhower Executive Office Building 17th St. & Pennsylvania Ave., 2 GSA 213,540 $198 2011(Phase III) NWDepartment of the Interior (Phase V) 2 1849 C St., NW GSA 200,000 $58 2011733 10th & G 2 733 10th St., NW Skanska/PN Hoffman 165,092 $85 20111000 Connecticut Avenue 2 1000 Connecticut Ave., NW Connecticut & K Street Assoc. LLC 370,170 $180 2012Forensics Lab 6 401 E St., SW Department of General Services 287,000 $215 2012U.S. Department of Commerce - 14th St. & Constitution Ave., 2 GSA 242,961 $118 2012Herbert Hoover Building (Phase II) NWTop Office Projects Under ConstructionProject Ward Location Developer(s) Sq. Ft. Est. Value1 ($M) DeliveryHarry S. Truman Building 2 2201 C St., NW GSA 270,000 $38 2012200 Eye Street 6 200 I St., SE StonebridgeCarras LLC/DGS 330,000 $86 2012U.S. Coast Guard 2701 Martin Luther King 8 GSA 1,179,550 $950 2013Headquarters Building Ave., SECityCenterDC 2 9th, 10th, 11th, H, & I Sts., NW Hines/Archstone/The First Investor 515,000 $700 2013Federal Office Building 8 2 200 C St., SW GSA 464,402 $129 2013GSA Headquarters (Phase I) 2 1800 F St., NW GSA 387,824 $161 2013 StonebridgeCarras LLC/3 Constitution Square 6 155 N St., NE 344,000 $140 2013 Walton Street Capital1111 North Capitol Street 6 1111 North Capitol St., NE Boston Properties/NPR 330,000 $115 2013Association of American Medical 6 655 K St., NW Hines 273,200 $115 2014CollegesLafayette Building 2 811 Vermont Ave., NW GSA 466,818 $164 2017Top Office Projects Pipeline (near term)Project Ward Location Developer(s) Sq. Ft. Est. Value1 ($M) Delivery2Akridge at Half Street 6 25 M St. & 1201 Half St., SE Akridge 370,000 $330 20142001 M Street 2 2001 M St., NW Brookfield Properties 285,000 20141200 17th Street 2 1200 17th St., NW Akridge 162,000 $110 2014900 G Street 2 900 G St., NW MRP Realty/ASB Real Estate 103,500 $65 2014Gallery Tower 2 627-631 H St., NW Monument Realty 72,000 $42 20141525 Fourteen 2 1525 14th St., NW Furioso Development 38,400 $11 20141728 14th Street 2 1728 14th St., NW Perseus Realty 14,534 20141442 Pennsylvania Avenue 6 1442 Pennsylvania Ave., SE Douglas Development Corporation 2014601 Massachusetts Avenue 6 601 Massachusetts Ave., NW Boston Properties 430,000 $150 2015 Donohoe Companies/Holland1111 New Jersey Avenue 6 1111 New Jersey Sve., SE 201,400 $50 2015 Development Group LLC1. may include non-office components   2. delivery date may reflect phase I delivery or final phase delivery DC Development Report 2012/2013 Edition 23
    • Office Development Development Highlights 1000 Connecticut Avenue 1111 North Capitol Street Location: 1000 Connecticut Avenue, NW  Ward: 2 Location: 1111 North Capitol Street, NE  Ward: 6 Developer(s): Connecticut & K Street Associates LLC Developer(s): Boston Properties/National Public Radio Architect(s): WDG Architecture PLLC/Pei Cobb Freed & Partners Architect(s): Hickok Cole Architects Contractor(s): Clark Construction Group LLC Contractor(s): Balfour Beatty Construction LEED: Platinum  Estimated Cost: $180 million LEED: Gold  Estimated Cost: $115 million Status: Completed  Targeted Delivery: 2012 Status: Under Construction  Targeted Delivery: 1Q 2013 Specs: 1000 Connecticut Avenue is a 12-story, 384,000 sq. ft. office Specs: NPR’s new 330,000 sq. ft. headquarters will feature a theater/ building offering approximately 13,830 sq. ft. of retail space. The production venue, open-concept newsroom and incorporate the building delivered in 2Q 2012 and Arent Fox LLP will occupy 236,000 sq. historic Chesapeake & Potomac Telephone Co. warehouse. ft. of space in 2013. Image courtesy of CoStar Image courtesy of CoStar 1700 New York Avenue 440 1st Street Location: 1700 New York Avenue, NW  Ward: 2 Location: 440 1st Street, NW  Ward: 6 Developer(s): Carr Development Developer(s): First Potomac Realty Trust Architect(s): SmithGroupJJR Architect(s): Fox Architects Contractor(s): Balfour Beatty Construction Contractor(s): Sigal Construction Corporation LEED: Gold  Estimated Cost: $80 million LEED: Platinum  Estimated Cost: $40 million Status: Under Construction  Targeted Delivery: 3Q 2013 Status: Under Construction  Targeted Delivery: 2Q 2013 Specs: Carr entered into a long-term ground lease with the Corcoran Specs: The former Class-B, 105,000 sq. ft. building is undergoing a gut Gallery of Art and will build an eight-story, 124,000 sq. ft. office rehabilitation with the addition of two stories. Once completed the building. Sullivan & Cromwell will lease about 58,000 sq. ft. of office Class-A building will offer 140,000 sq. ft. of space in 10 stories. space.24 © 2012 Washington, DC Economic Partnership
    • Office Development Development HIghlightsImage courtesy of CoStar Image courtesy of KCCT 900 G Street Location: 900 G Street, NW  Ward: 2 Developer(s): MRP Realty/ASB Real Estate Architect(s): Gensler Contractor(s): James G Davis Construction Corporation paho knowledge center LEED: Gold  Estimated Cost: $65 million Location: 525 23rd Street, NW Status: Near Term  Targeted Delivery: 2014 Specs: The 93,553 sq. ft. YWCA building at the corner of 9th & G Client(s): Pan American Health Organization Streets, NW will be demolished and replaced by a nine-story, 110,000 Architect(s): Karn Charuhas Chapman & Twohey sq. ft. office building with 6,500 sq. ft. of retail space. Contractor(s): Monarc Construction Inc. Green Elements: This interior renovation optimizing energy performance through lighting & thermal comfort controls, HVAC, and energy star equipment. Low-emittingImage courtesy of the AAMC materials such as adhesives, sealants, paint, flooring, and composite wood were used as well as recycled materials such as carpeting, fabric wall covering and upholstery. Status: Completed  Delivery: Design-Bid-Build The interior renovation of the former library at PAHO’s Headquarters transformed the original circular space into a new universally accessible Knowledge Center. The design integrates the distinctive circular geometry of the building into three functional areas arranged in concentric rings: conference rooms at the center; support spaces including a library, built-in workstations, and private offices in the middle ring; and ancillary spaces in the outer-most ring. State-of-the-art audio-visual and video- Association of American Medical Colleges teleconferencing technology has been incorporated to facilitate Location: 655 K Street, NW  Ward: 6 emergency communications worldwide. The existing curved Developer(s): Hines Architect(s): Shalom Baranes Associates marble walls, new curved acoustical natural maple walls, new glass Contractor(s): Clark Construction Group LLC walls and curved acoustical wood ceiling clouds define the spaces LEED: Gold  Estimated Cost: $115 million by combining elegance with functionality. Additional acoustical Status: Under Construction  Targeted Delivery: 1Q 2014 quality is achieved with the use of acoustical fabric-finished wall Specs: The AAMC’s new 290,000 sq. ft. headquarters, located at the panels in the conference spaces and acoustical plaster ceilings intersecrtion of 7th, K & New York Avenue, will include 14,300 sq. ft. of throughout the Center. retail space. AAMC will move into the new building in mid-2014. Learn More about PAHO Knowledge Center DC Development Report 2012/2013 Edition 25
    • Office Development Development Highlights Image courtesy of Stonebridge Carras LLC 3 Constitution Square Forensics Lab Location: 155 N Street, NE  Ward: 6 Location: 401 E Street, SW  Ward: 6 Developer(s): StonebridgeCarras LLC/Walton Street Capital Developer(s): Department of General Services Architect(s): HOK Architect(s): HOK Contractor(s): Clark Construction Group LLC Contractor(s): Whiting-Turner Contracting Company LEED: Platinum  Estimated Cost: $140 million LEED: Gold  Estimated Cost: $215 million Status: Under Construction  Targeted Delivery: 3Q 2012 Status: Completed  Targeted Delivery: 3Q 2012 Specs: 3 Constitution Square is a 355,000 sq. ft. office building with Specs: The new 287,000 sq. ft. Forensics Lab combines police forensics, 11,000 sq. ft. of retail space. This project is part of Constitution Square, public health, a medical examiner’s office and drug-testing services. It is a seven-acre, 2.6 million sq. ft. mixed-use development site. expected to eventually employ more than 500 people. Image couresty of Monument Realty Image courtesy of CoStar Gallery Tower Progression Place Location: 627 - 631 H Street, NW  Ward: 2 Location: 1805 7th Street, NW  Ward: 1 Developer(s): Monument Realty Developer(s): Four Points/Ellis Development Group/Jarvis Company Architect(s): Cunningham|Quill Architects PLLC Architect(s): Devrouax & Purnell Architects/Eric Colbert & Associates Estimated Cost: $42 million Contractor(s): James G Davis Construction Corp./Gilford Corp. Status: Near Term  Targeted Delivery: 2014 LEED: Silver  Estimated Cost: $140 million Specs: Plans call for a 82,500 sq. ft. building with 72,000 sq. ft. of Status: Under Construction  Targeted Delivery: 4Q 2012–4Q 2013 office space and 10,500 sq. ft. of retail space (on two floors). If Specs: The new 50,000 sq. ft. United Negro College Fund HQ will be adjacent parcels can be purchased the project could expand to part of a mixed-use project containing 110,000 sq. ft. of office space, 450,000 sq. ft. of development with retail, office and residential uses. 19,200 sq. ft. of retail space and 205 apartments (7th Flats).26 © 2012 Washington, DC Economic Partnership
    • Office Development development Highlights Image courtesy of Trammell Crow CompanyImage courtesy of Shalom Baranes Associates Square 450 Sentinel Square (Phase II) Location: 655 New York Avenue, NW  Ward: 6 Location: 1050 1st Street, NE  Ward: 6 Developer(s): Douglas Development Corporation Developer(s): Trammell Crow Company Architect(s): Shalom Baranes Associates Architect(s): SmithGroupJJR Status: Long Term  Targeted Delivery: 2016 (ph I) Contractor(s): Clark Construction Group LLC Specs: Initial plans for Phase I (Square 450 West) call for 367,000 sq. ft. LEED: Silver  Estimated Cost: $105 million of office space with about 68,000 sq. ft. of retail space. Phase II (Square Status: Under Construction  Targeted Delivery: 4Q 2013 450 East) could be a 260,000 sq. ft. office building with 25,000 sq. ft. of Specs: Sentinel Square’s four phases will eventually be able to retail space. accommodate 1.3 million sq. ft. Phase II will be a 12-story, 278,817 sq. ft. Class-A office building, with 13,337 sq. ft. of retail space that will deliver in late 2013 or early 2014. DOUGLAS DEVELOPMENT CORPORATION enhancing communities & creating dynamic places since 1985 LEARN MORE about Douglas Development & its future projects DC Development Report 2012/2013 Edition 27
    • Office Development Development Highlights Visualization by Interface Multimedia Image courtesy of Property Group Partners Capitol Crossing U.S Coast Guard HQ Location: I-395 at 3rd, E & Massachusetts Avenue, NW  Ward: 2 Location: 2701 Martin Luther King Avenue, SE  Ward: 8 Developer(s): Property Group Partners/Center Place Holdings Developer(s): GSA Architect(s): Kevin Roche John Dinkeloo & Associates/SOM/Kohn Architect(s): HOK/WDG Architecture/Perkins + Will Pedersen Fox & Associates Contractor(s): Clark Construction Group LLC LEED: Platinum  Estimated Cost: $1.3 billion LEED: Gold  Estimated Cost: $950 million Status: Long Term  Targeted Delivery: 2016 (ph I) Status: Under Construction  Targeted Delivery: 2Q 2013 Specs: Capitol Crossing will be a 2.2 million sq. ft., three-block, mixed- Specs: The new 1.2 million sq. ft. office building for the 4,400-employee use development that will be built on a platform above I-395. Full build- U.S Coast Guard is located on the 176-acre West Campus of Saint out will include 2.0 million sq. ft. of office space, 63,000 sq. ft. of retail Elizabeths. space and 150 residential units. DELTA ASSOCIATES Photo by Freddie Lieberman Photography Leading advisor and information provider to the Washington-area commercial real estate industry APARTMENTS | CONDOMINIUMS | OFFICE 815 Connecticut Avenue RETAIL | MIXED-USE Market Studies | Repositioning Analyses | Asset Valuations Location: 815 Connecticut Avenue, NW  Ward: 2 Services Include: Feasibility Studies | Litigation Support | Market Data Developer(s): Alecta Real Estate Investment LLC Architect(s): VOA Associates Contractor(s): Forrester Construction Company CONSULTING AND ADVISORY SERVICES Greg.Leisch@DeltaAssociates.com LEED: Gold  Estimated Cost: $36 million Gregory H. Leisch, CRE, Chief Executive Status: Under Construction  Targeted Delivery: 4Q 2012 MARKET PUBLICATIONS GROUP Alexander.Paul@DeltaAssociates.com Specs: The renovation of the 212,000 sq. ft. existing building includes Alexander (Sandy) Paul, CRE, National Research Director a new façade, the addition of a roof terrace, extension of the 11th and www.DeltaAssociates.com | 703.836.5700 12th floors and renovation to all core spaces on all floors.28 © 2012 Washington, DC Economic Partnership
    • 1Retail Development development Description
    • Retail Development DC Retail Market Snapshot Retail & Retaurant Sales1 $10.0B Population Growth (2010–2011) 2 2.7% Retail SF Under Construction 3 1.16M SF Grocery Stores Under Construction4 9 Retail development in DC has been on the upswing since 2009, when retail deliveries hit the second lowest level since 2001 at 266,000 square feet. Looking forward, it is expected that DC will see retail deliveries in excess of 400,000 square feet in both 2013 and 2014. Rhode Island Row with its 70,000 square feet of retail and restaurant space was the largest retail project to deliver this year through August 2012. At the time of publication the project had leases with various retailers such as CVS, Chipotle and Carolina Kitchen. By the end of 2012 it is expected that a total of 428,000 square feet of retail space will have come on line. Most notably will be the new 154,000-square-foot Costco, set to open in November 2012 at The Shops at Dakota Crossing and The Boilermarker Shops (Buzz Bakery, Huey’s 24/7 Diner, Bluejacket Brewery, Willie’s Brew & ‘Cue Sports Bar) in Capitol Riverfront. While food users such as restaurants and grocery stores have been the main driver of retail leases, several apparel retailers opened or announced expansion plans in 2012. In Georgetown, Nike opened a 29,000 square foot superstore (one of nine in the U.S.) and the Shops at Georgetown will be anchored by a new T.J. Maxx and HomeGoods (occupying a total of 47,800 square feet) with J. Crew expanding from 8,000 to 14,000 square feet.5 J. Crew also opened an 8,625 square foot store in Downtown DC in August and Charles Tyrwhitt opened its first DC store in the Golden Triangle in April. H&M also announced plans to open a 21,700 square foot store at the newly renovated Chevy Chase Pavilion. This uptick in retail development can be contributed to several factors, 1. Retailers are looking to expand into urban markets 2. DC’s population has increased nearly 43,600 residents since 20076 3. New retail projects bring modern retail space to the market 4. DC’s economy and buying power remains one of the strongest in the U.S. 5. There is significant market demand for retail in DC. DC’s ratio of shopping center square feet per person is 8.2, while the DC metro area averages 27.87. Grocery stores have recognized these trends for the past decade as 16 new grocery stores have opened in DC since 2000 with another nine under construction. Once dominated by Giant and Safeway, new grocers such as Whole Foods, Trader Joe’s, Harris Teeter and Aldi have expanded into DC. Over the next two years, DC will welcome new stores from Giant, Safeway, Trader Joe’s, Harris Teeter, Walmart, Sav-A-Lot and Costco. 1.  CFO, Budget & Financial Plan (FY 2010)  2. Census (April 2010 – July 2011)  3. WDCEP (8/2012)  4. WDCEP (3Q 2012)  5. Washington Business Journal (9/24/12)  6. Census (2007-2011)  7. Delta Associates (Washington Area Retail Outlook, 3Q 2012)30 © 2012 Washington, DC Economic Partnership
    • Retail Development Development OverviewRetail Development (August 2012) 261 Retail Construction Starts (since 2000) # of Projects Sq. Ft.Completed 232 4,523,952 27 27 in 2001 18 226,178 26 in 2002 22 311,800 in 2003 19 347,229 in 2004 22 369,208 in 2005 25 706,923 23 22 22 23 in 2006 24 294,862 in 2007 22 378,658 20 20 in 2008 22 867,131 in 2009 27 265,943 in 2010 10 330,700 18 in 2011 11 312,345 in 2012 (YTD) 10 112,975 15Under Construction 46 1,162,038 2012 delivery 14 315,082 2013 delivery 19 434,220 11 2014 delivery 11 399,736 2015+ delivery 2 13,000Pipeline 179 7,733,925 7 Near Term 44 1,788,372 Medium Term 49 1,065,075 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (YTD) Long Term 86 4,880,478Total 457 13,419,915Retail Deliveries (sq. ft. in thousands) Completed  Under Construction 867 707 11-year Annual Average 428 434 400,998 sq. ft. 400 369 379 347 331 312 312 295 266 315 226 113 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20121 20131 201411. projections based on targeted delivery dates of projects under construction as of August 2012 DC Development Report 2012/2013 Edition 31
    • the new element of style. Delivering november 2013 • citymarketato.com Roadside Development salutes the Washington, DC Economic Partnership for its continued success in attracting new businesses and opportunities to our nation’s capital. Rapp AD V2.pdf 1 10/18/12 1:50 PM When you think RETAIL, think Rappaport Retail Leasing • Tenant Representation Property Management • Construction Management Consulting & Receivership Services C Development • Marketing M Retail Real Estate Experts Since 1984 How can we work together? YCMMY Henry Fonvielle, PresidentCY 571-382-1220 • Hfonvielle@rappaportco.comCMY K 32 © 2012 Washington, DC Economic Partnership
    • Retail Development Development PipelineTop Retail Projects Completed (2011–August 2012) Project Ward Location Developer(s) Sq. Ft. Est. Value1 ($M) DeliveryLEnfant Plaza Redevelopment (Phase I) 2 950 LEnfant Plaza, SW The JBG Companies 87,000 $14 2011Square 54 2 2200 Pennsylvania Ave., NW Boston Properties 72,000 $213 20111612 U Street 2 1612 U St., NW Urban Adventures of Washington 60,000 $13 2011 JAIR LYNCH Development/AHDI/3Tree Flats 4 3910–3912 Georgia Ave., NW 28,000 $42 2011 Stratford Capital Group1015 Half Street 6 1015 Half St., SE Douglas Wilson Companies 20,000 $180 2011Walgreens 3 4225 Connecticut Ave., NW Walgreens 20,000 $5 2011Foundry Lofts Apartments 6 301 Tingey St., SE Forest City Washington 10,240 $60 2011Rhode Island Row 5 2300-2350 Washington Pl., NE Urban Atlantic/A&R Development 70,000 $109 2012 Connecticut & K Street Associates1000 Connecticut Avenue 2 1000 Connecticut Ave., NW 13,830 $180 2012 LLC1020 Monroe 1 1020 Monroe St., NW Madison Investments 7,500 $7 2012Top Retail Projects Under Construction Project Ward Location Developer(s) Sq. Ft. Est. Value1 ($M) DeliveryThe Boilermaker Shops 6 400 Tingey St., SE Forest City Washington 32,540 $15 2012 New York & South Dakota Ft. Lincoln New Town Corp./TrammellThe Shops at Dakota Crossing (Costco) 5 154,000 $20 2012 Aves., NE Crow Co./CSG Urban PartnersCityCenterDC 2 9th, 10th, 11th, H, & I Sts., NW Hines/Archstone/The First Investor 185,000 $700 2013 700-800 blocks of Monroe Abdo Development/Bozzuto Group/Monroe Street Market 5 56,915 $150 2013 St., NE Catholic U.360 H 6 360 H St., NE Steuart Investment Company 42,700 $65 2013Wonder Bread Factory 1 641 S St., NW Douglas Development Corporation 39,741 201377 H 6 1st & H Sts., NW The JBG Companies/Bennett Group 90,000 $90 2014Twelve12 6 1212 4th St., SE Forest City Washington 88,000 $100 2014CityMarket at O Street (Phase I) 6 1400 7th St., NW Roadside Development 87,000 $250 2014 The JBG Companies/GeorgetownLouis at 14th/U 2 1920 U St., NW 44,000 $100 2014 Strategic Capital LLCTop Retail Projects Pipeline (near term) Project Ward Location Developer(s) Sq. Ft. Est. Value1 ($M) Delivery2 New York & South Dakota Ft. Lincoln New Town Corp./TrammellThe Shops at Dakota Crossing (Phase II) 5 266,000 $40 2013 Aves., NE Crow Co./CSG Urban PartnersWalmart on Georgia Avenue 4 5929 Georgia Ave., NW Foulger-Pratt 106,000 2013L’Enfant Plaza Redevelopment (Phase II) 6 950 L’Enfant Plaza, SW The JBG Companies 93,000 $17 2013The Point at Arboretum 5 New York & Montana Aves., NE WV Urban Developments LLC 312,101 $77 2014 South Dakota Ave. & The JBG Companies/LoweFort Totten Square 4 130,000 $120 2014 Riggs Rd., NE Enterprises 3336-3430 WisconsinCathedral Commons 3 Giant Food/Bozzuto Group 125,000 $130 2014 Ave., NWPetworth Safeway 4 3830 Georgia Ave., NW Duball LLC/Safeway Inc. 62,000 $50 2014Akridge at Half Street 6 25 M St. & 1201 Half St., SE Akridge 55,000 $330 2014 A&R Development/DCHA/HensonCapitol Gateway Marketplace 7 58th & East Capitol Sts., NE 161,750 $107 2015 Development Co.Hecht’s Warehouse 5 1401 New York Ave., NE Douglas Development Corporation 200,8001. may include non-retail components   2. delivery date may reflect phase I delivery or final phase delivery DC Development Report 2012/2013 Edition 33
    • Retail Development Development Highlights Image courtesy of Forest City Image courtesy of A&R Development The Boilermaker Shops Capitol Gateway Marketplace Location: 400 Tingey Street, SE  Ward: 6 Location: 58th & East Capitol Streets, NE  Ward: 7 Developer(s): Forest City Washington Developer(s): A&R Development/DC Housing Authority/Henson Architect(s): Gensler Development Company Contractor(s): KBS Inc Architect(s): Bignell Watkins Hasser Architects/Massa Montalto Estimated Cost: $15 million Architects Status: Under Construction  Targeted Delivery: 4Q 2012/1Q 2013 Contractor(s): WCS Construction LLC Specs: The 45,540 sq. ft. Boilermaker Shop is a renovated historic Navy Estimated Cost: $107 million Yard building that will be transformed into the retail heart of The Yards. Status: Near Term  Targeted Delivery: 2015 The initial tenants will be Buzz Bakery, Huey’s 24/7 Diner, Bluejacket Specs: The 12-acre site will be redeveloped into 161,750 sq. ft. of retail Brewery, Willie’s Brew & ‘Cue sportsbar and Wells Dry Cleaners. There space, anchored by a 129,800 sq. ft. Walmart. This project is part of the is also 10,000 sq. ft. of office space on the mezzanine level. Capitol Gateway HOPE VI redevelopment. Visualization by Interface Multimedia Capitol View on 14th Cathedral Commons Location: 2400 14th Street, NW  Ward: 1 Location: 3336 - 3430 Wisconsin Avenue, NW  Ward: 3 Developer(s): DCO 2400 14th Street LLC/UDR Developer(s): Giant Food/Bozzuto Group/Southside Investment Partners Architect(s): Shalom Baranes Associates Architect(s): JCA Architects Contractor(s): Donohoe Companies Contractor(s): Bozzuto Construction Estimated Cost: $126 million LEED: Silver  Estimated Cost: $130 million Status: Under Construction  Targeted Delivery: 4Q 2012 Status: Near Term  Targeted Delivery: 3Q 2014 Specs: 2400 14th Street will be a nine-story, 255-unit apartment building Specs: The existing Giant will be demolished and a new 56,000 sq. ft. with 15,617 sq. ft. of ground-floor retail. The project started to deliver store will be built along with an additional 69,000 sq. ft. of retail space in November 2012. and 145 residential units on two separate parcels. Construction started in October 2012.34 © 2012 Washington, DC Economic Partnership
    • Retail Development Sub-section Development Highlights Image courtesy of The Rappaport CompaniesArtist rendering by Neoscape CityCenterDC H Street Connection Location: 9th, 10th, 11th, H, & I Streets, NW  Ward: 2 Location: 901 H Street, NE  Ward: 6 Developer(s): Hines/Archstone/The First Investor Developer(s): Rappaport Companies Architect(s): Foster & Partners/Shalom Baranes Associates/Lee and Architect(s): Torti Gallas & Partners Associates LEED: Silver  Estimated Cost: $250 million Contractor(s): Clark Construction Group/Smoot Construction  Status: Long Term  Targeted Delivery: 2015 LEED: Gold  Estimated Cost: $700 million Specs: This project is a planned redevelopment of an existing shopping Status: Under Construction  Targeted Delivery: 3Q 2013  center that will include about 384 residential units, 51,500 sq. ft. of Specs: The redevelopment of the southern portion (Parcel A) of the street front retail space and structured parking for 405 vehicles. former convention center site will include 515,000 sq. ft. of office space, 185,000 sq. ft. of retail space and 674 residential units. Image courtesy of The JBG CompaniesImage courtesy of Roadside Development CityMarket at O Street Louis at 14th/U Location: 1400 7th Street, NW  Ward: 6 Location: 1920 U Street, NW  Ward: 2 Developer(s): Roadside Development Developer(s): The JBG Companies/Georgetown Strategic Capital LLC Architect(s): Shalom Baranes Associates/Lee and Associates Inc Architect(s): Eric Colbert & Associates PC Contractor(s): Clark Construction Group LLC Contractor(s): Balfour Beatty Construction LEED: Silver  Estimated Cost: $330 million LEED: Silver  Estimated Cost: $100 million Status: Under Construction  Targeted Delivery: 4Q 2013–2014 Status: Under Construction  Targeted Delivery: 1Q 2014 Specs: Phase I will include 87,000 sq. ft. of retail space (75,000 sq. ft. Specs: Louis at 14/U will be a nine-story mixed-use building with Giant Food), 497 residential units, a 182-room Cambria Suites Hotel and 268 apartments and 44,000 sq. ft. of retail space (anchored by a about 500 parking spaces. Phase II calls for 145 residential units. Trader Joe’s). DC Development Report 2012/2013 Edition 35
    • Retail Development Development Highlights Image courtesy of Abdo Development Monroe Street Market Rhode Island Row Location: 700 - 800 blocks of Monroe Street, NE  Ward: 5 Location: 2300 - 2350 Washington Place, NE  Ward: 5 Developer(s): Abdo Development/Bozzuto Group/Catholic University Developer(s): Urban Atlantic/A&R Development Architect(s): Torti Gallas & Partners/KTGY Architect(s): Lessard Design Contractor(s): Bozzuto Construction Contractor(s): Bozzuto Construction Estimated Cost: $150 million Estimated Cost: $109 million Status: Under Construction  Targeted Delivery: 4Q 2013 Status: Completed  Delivery: 2Q 2012 Specs: Phase I will deliver 56,915 sq. ft. of retail space and 562 Specs: Located adjacent to the Rhode Island Metrorail station, Rhode apartments in Blocks A1, B and C. Some portions of the project may Island Row contains 274 apartments, 70,000 sq. ft. of retail space deliver as early as Summer 2013, with a targeted delivery for the entire (leases with CVS, Chipotle, Carolina Kitchen) and 746 parking spaces. phase by late 2013/early 2014. Image courtesy of DMPED Image courtesy of DMPED Saint Elizabeths East Saint Elizabeths East Gateway Pavilion Location: Saint Elizabeths East Campus  Ward: 8 Location: Saint Elizabeths East Campus  Ward: 8 Developer(s): DC Office of Planning & Economic Development Developer(s): DC Office of Planning & Economic Development Architect(s): Ayers Saint Gross Inc Architect(s): Davis Brody Bond/Robert Silman Associates Estimated Cost: $2.5 billion Contractor(s): KADCON Status: Long Term  Targeted Delivery: 2015 (ph I) Estimated Cost: $5 million Specs: The redevelopment vision calls for 1.5 million sq. ft. of office Status: Near Term  Targeted Delivery: 2013 space, 400 hotel rooms, 1.6 million sq. ft. of residential, 340,000 sq. ft. Specs: The Gateway Pavilion will be the interim (2-5 years) heart of St. of retail space as well as institutional, civic, and education uses. Phase I Elizabeths East and provide venues for casual dining, a farmers market, may result in 303 residential units and 141,000 sq. ft. of retail space. and other weekend and afterhours, community, cultural and arts events.36 © 2012 Washington, DC Economic Partnership
    • Retail Development Development Highlights Image courtesy of The Rappaport CompaniesImage courtesy of Trammell Crow The Shops at Dakota Crossing Skyland Town Center Location: New York & South Dakota Avenues, NE  Ward: 5 Location: Alabama Avenue & Naylor Road, SE  Ward: 7 Developer(s): Ft. Lincoln New Town Corporation/Trammell Crow/CSG Developer(s): Rappaport Companies/WC Smith/Marshall Heights CDO/ Urban Partners Harrison-Malone Development Architect(s): Bignell Watkins Hasser Architects/Ayers Saint Gross Architect(s): Torti Gallas & Partners Contractor(s): Harvey Cleary Builders  Contractor(s): WCS Construction LLC LEED: Silver  Estimated Cost: $60 million LEED: Silver  Estimated Cost: $260 million Status: Under Construction  Targeted Delivery: 4Q 2012–4Q 2013  Status: Medium Term  Targeted Delivery: 2016–2018 Specs: The 420,000 sq. ft. shopping center will include tenants Specs: The planned redevelopment of the 18.5-acre Skyland Shopping such as a Costco, Marshalls and two additional large-format anchor Center will occur in phases and result in up to 325,000 sq. ft. of retail tenants. Phase I, which includes the 154,000 sq. ft. Costco, will open in space, anchored by a 120,000 sq. ft. Walmart, 454 residential units and November 2012 and Phase II will deliver the balance of the retail space. nearly 1,700 parking spaces. Image courtesy of Madison MarquetteImage courtesy of WV Urban Developments LLC The Point at Arboretum The Wharf Location: New York & Montana Avenues, NE  Ward: 5 Location: Southwest Waterfront  Ward: 6 Developer(s): WV Urban Developments LLC Developer(s): Hoffman-Madison Waterfront/PN Hoffman/Madison Architect(s): Brown Craig Turner Marquette Estimated Cost: $77 million Architect(s): Perkins Eastman/BBG-BBGM/Cunningham|Quill Architects Status: Near Term  Targeted Delivery: 2014 Contractor(s): Gilford Corporation Specs: This new 312,000 sq. ft. shopping center will be anchored by a LEED: Gold  Estimated Cost: $1.5 billion 124,000 sq. ft. Walmart (with pharmacy & grocery), a Burlington Coat Status: Long Term  Targeted Delivery: 2016 (ph I) Factory and 30-45 additional retailers and restaurants. Specs: The 1.8 million sq. ft. Phase I will include 225,000 sq. ft. of office, 180,000 sq. ft. of retail, 790 residential units, 683 hotel rooms, 140,000 sq. ft. of cultural and entertainment space and 1,325 underground parking spaces. DC Development Report 2012/2013 Edition 37
    • Retail Development Development Highlights Image courtesy of Forest City Image courtesy of DMPED Twelve12 Walter Reed Location: 1212 4th Street, SE  Ward: 6 Location: 6800 Georgia Avenue, NW  Ward: 4 Developer(s): Forest City Washington Developer(s): DC Office of Planning & Economic Development Architect(s): Shalom Baranes Associates Estimated Cost: $640 million Contractor(s): Walsh Construction Status: Long Term  Delivery: 2017—2030 Estimated Cost: $100 million Specs: Nearly 66.57 acres of the campus will be redeveloped into 14 Status: Under Construction  Targeted Delivery: 2Q 2014 acres of open space, 2,000 residential units, 212,000 sq. ft. of retail Specs: Twelve12 will feature a 218-unit apartment building above 88,000 space, two charter schools and 770,000 sq. ft. of office/medical/ sq. ft. of retail space, including a 50,000 sq. ft. Harris Teeter and VIDA education space. Fitness.38 © 2012 Washington, DC Economic Partnership
    • 1 Residential De-Residential development velopment Description
    • Residential Development DC Residential Market Snapshot Total Households1 269,079 Population Growth (2010-2011) 2 2.7% Units Under Construction 3 10,357 Avg. Class-A Rental Rate4 $3.08 per SF Class-A Apartment Vacancy Rate5 3.5% Prior to the 2008 recession, DC had an average demand of 5,500 residential units per year. During the recession supply dropped to 4,000 units, but rebounded to 6,000 units by 2010. In April of 2010 the ULI conference in Boston ranked Washington, DC #1 in the nation for both an investment and development market symbolizing an obvious sign of growth. Soon after, several developers from across the country searched the Washington market for new investment and development opportunities. In September 2010, some active land sales listings received over 30 offers to purchase. Due to this increase in investment, DC now (as of August 2012) has 10,357 residential units under construction—the highest number since the WDCEP began tracking development data in 2001. These units will come to market over the next 28 months, with more than 50% of these units delivering in four submarkets: NoMa (2,204 units), Shaw (1,200 units), Capitol Riverfront (1,087 units) and 14th & U/MidCity (945 units). With an increased residential pipeline in the region, investors have stopped funding projects in the tertiary markets (Frederick, Prince William County, Anne Arundel County) as well as secondary markets (Germantown, Gaithersburg, Rockville, Centreville, Prince George’s County) and focusing more on core locations (Arlington, Bethesda and DC). The increased demand in residential development in DC can be seen in the graph below that shows total residential units that have started construction since 2007 in projects with 10 or more units. Assuming development projects in the pipeline stay on schedule, 2012 will top 5,000 units and mark the first time in the past decade that consecutive years have surpassed that mark. Residential Construction Starts (10+ units)3 5,435 5,274 Projected 4,421 3,954 3,570 1,700 926 2007 2008 2009 2010 2011 2012 (YTD) 1. ESRI, 2011  2. Census­  3. WDCEP (August 2012)  4. CBRE Research (based on Class-A 853 sq. ft. rental unit)  5. CBRE Research (9/2011 – 10/2012)40 © 2012 Washington, DC Economic Partnership
    • Residential Development Development OverviewResidential Deliveries (total # of units) 432 Residential Construction Starts2 (since 2000) Homeownership Completed  Homeownership Under Construction (projects with 10+ units) Rental Completed  Rental Under Construction 5,133 11-year Annual Average 52 52 3,612 units 4,665 4,393 4,316 4,243 163 4,181 4,089 281 3,956 3,983 234 41 43 1,837 2,586 635 3,633 3,511 40 1,718 1,414 591 912 36 33 2,128 30 4,2302,670 2,584 28 4,035 317 920 23 1,909 1,943 23 3,454 369 524 17 2,920 2,721 2,216 2,828 2,525 2,547 14 1,574 1,750 1,828 1,399 1,385 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20121 20131 20141 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (YTD)Residential Development # of Projects Sq. Ft. Total Units 3 Rental Units HomeOwnership 4 CondosCompleted 435 43,903,233 42,268 27,147 15,121 12,182 in 2001 29 2,837,032 2,670 1,750 920 409 in 2002 32 3,750,300 3,511 2,920 591 173 in 2003 47 3,936,855 4,089 3,454 635 546 in 2004 47 4,630,970 4,665 2,828 1,837 1,640 in 2005 45 4,170,870 3,956 1,828 2,128 2,061 in 2006 46 4,340,551 3,983 1,399 2,584 2,335 in 2007 50 5,825,803 5,133 2,547 2,586 2,083 in 2008 40 4,204,734 4,243 2,525 1,718 1,649 in 2009 35 3,589,130 3,633 2,721 912 718 in 2010 21 2,186,187 1,909 1,385 524 146 in 2011 22 1,899,277 1,943 1,574 369 269 in 2012 (YTD) 21 2,531,524 2,533 2,216 317 153Under Construction 53 9,580,027 10,357 9,679 678 389 2012 delivery 16 1,639,570 1,648 1,414 234 56 2013 delivery 21 4,000,313 4,316 4,035 281 281 2014+ delivery 16 3,940,144 4,393 4,230 163 52Pipeline 191 51,125,299 48,618 18,486 6,430 4,710 Near Term 52 6,129,389 6,438 4,443 835 428 Medium Term 70 9,566,610 9,015 5,060 1,818 1,137 Long Term 69 35,429,300 33,165 8,983 3,777 3,145Total 679 104,608,559 101,243 55,312 22,229 17,2811. projections based on targeted delivery dates of projects under construction as of August 2012  2. projects with 10+ residential units3. apartments & homeownership may not total to residential units due to lack of information for pipeline projects  4. includes condo, single-family, co-op and other for-sale units DC Development Report 2012/2013 Edition 41
    • Remarkable Things Happen in DowntownDowntownDC Business Improvement DistrictDowntownDC.org202-638-3232 @downtowndcbid
    • Residential Development Development PipelineTop Residential Projects Completed (2011 – August 2012)Project Ward Location Developer(s) Units Type1 Est. Value2 ($M) Delivery 2200 Pennsylvania Ave., NWSquare 54 2 Boston Properties 335 Apt $213 2011 & 2221 I St., NWYale West 6 443 New York Ave., NW IBG Partners/Bozzuto Group 218 Apt $50 2011Potomac Place Tower South 6 800 4th St., SW Monument Realty 200 HO $31 2011Foundry Lofts Apartments 6 301 Tingey St., SE Forest City Washington 170 APT $20 2011Archstone First + M 6 1160 1st St., NE Archstone 469 Apt $160 2012 Paradigm Development/SteuartMeridian at Mount Vernon Triangle 6 425 L St., NW 390 Apt 2012 Investment Co.Rhode Island Row 5 2300-2500 Washington Pl., NE Urban Atlantic/A&R Development 274 Apt $109 2012Flats at Atlas 5 1600 Maryland Ave., NE Clark Realty Capital LLC 257 APR $42 2012 National Caucus & Center onNCBA Estates 1 2801 14th St., NW 174 Apt $26 2012 Black Aged, Inc. JAIR LYNCH Development Partners/Paul Laurence Dunbar Apartments 1 2001 15th St., NW 171 APT $43 2012 MacFarlane PartnersTop Residential Projects Under ConstructionProject Ward Location Developer(s) Units Type1 Est. Value2 ($M) DeliveryCityCenterDC 2 9th, 10th, 11th, H, & I Sts., NW Hines/Archstone/The First Investor 674 Apt/HO $700 2013Trilogy at NoMa 5 150, 151, 200 Q St., NE Mill Creek Residential Trust LLC 603 Apt $160 2013 700-800 blocks of Abdo Development/BozzutoMonroe Street Market 5 562 Apt $150 2013 Monroe St., NE Group/Catholic UniversityCamden NoMa 6 60 L St., NE Camden Property Trust 321 Apt $100 2013 William C. Smith + Co./Warrenton2 M Street 6 North Capitol & M St., NE 314 Apt $95 2013 Development GroupCityMarket at O Street (Phase I) 6 1400 7th St., NW Roadside Development 484 Apt $250 2014Park Chelsea 6 880 New Jersey Ave., SE William C. Smith + Co. 432 Apt $150 2014 21st, 22nd St. and Maryland William C. Smith + Co./EnterpriseFairway Park Apartments 5 406 Apt $50 2014 Ave., NE Community PartnersWashington Gateway Apartments 5 Florida & New York Aves., NE MRP Realty 400 Apt $130 2014 Minnesota Ave. & Benning Donatelli Development/Blue SkyePark 7 7 376 Apt $68 2014 Rd., NE DevelopmentTop Residential Projects Pipeline (near term)Project Ward Location Developer(s) Units Type1 Est. Value2 ($M) Delivery3 Fort Lincoln Dr. &The Villages at Dakota Crossing Fort Lincoln New Town Corp./ 5 Commodore Joshua Barney 229 HO $60 2013(Phase II & III) Concordia Group Dr., NE Level 2 Development/Keener &1919 14th Street 1 1919 14th St., NW 144 Apt 2013 Squire Properties South Dakota Ave. & Riggs The JBG Companies/LoweFort Totten Square 4 345 Apt $120 2014 Rd., NE EnterprisesAkridge at Half Street 6 25 M St. & 1201 Half St., SE Akridge 277 Apt $330 2014450 K Street 6 450 K St., NW Kettler 233 Apt $80 2014Petworth Safeway 4 3830 Georgia Ave., NW Duball LLC/Safeway Inc. 218 Apt $50 2014Cathedral Commons 3 3336-3420 Wisconsin Ave., NW Giant Food/Bozzuto Group 145 Apt $130 201422 M Street 6 22 M St., NE Skanska 275 Apt $75 2015 8th, 9th St. & Florida Ave.,WMATA Parcels 1 The JBG Companies 242 Apt 2015 NWRiverFront on the Anacostia FRP Development Corp./MRP 6 100 Potomac Ave., SE 325 Apt $100 2016(Phase I) Realty 1. HO=homeownership; APT=rental  2. may include non-residential components  3. delivery date may reflect phase I delivery or final phase delivery DC Development Report 2012/2013 Edition 43
    • Residential Development Development Highlights Image courtesy of WC Smith Visualization by Interface Multimedia 2 M Street 360 H Location: North Capitol & M Street, NE  Ward: 6 Location: 360 H Street, NE  Ward: 6 Developer(s): William C. Smith + Co./Warrenton Development Group Developer(s): Steuart Investment Company Architect(s): Eric Colbert & Associates PC Architect(s): Torti Gallas & Partners Contractor(s): WCS Construction LLC Contractor(s): Clark Builders Group LEED: Gold  Estimated Cost: $95 million Estimated Cost: $65 million Status: Under Construction  Targeted Delivery: 4Q 2013 Status: Under Construction  Targeted Delivery: 2Q 2013 Specs: 2 M Street is part of the Northwest One New Communities Specs: 360 H will be a mixed-use development that will include 215 project and will consist of 314 apartments, a roof-top pool and 4,100 sq. apartments and 42,700 sq. ft. of retail space, including a 41,200 sq. ft. ft. of ground floor retail space. Giant Food grocery store. Image courtesy of the NoMa BID Victory Square 77 H Location: 600 Barnes Street, NE  Ward: 7 Location: 1st & H Streets, NW  Ward: 6 Developer(s): Bank of America CDC/Victory Housing/City Interests Developer(s): The JBG Companies/Bennett Group Architect(s): Grimm + Parker & Associates Architect(s): MV+A Architects/Preston Partnership LLC Contractor(s): Hamel Builders Contractor(s): Clark Construction Group Estimated Cost: $19 million LEED: Silver  Estimated Cost: $90 million Status: Completed  Delivery: 3Q 2012 Status: Under Construction  Targeted Delivery: 4Q 2013 / 1Q 2014 Specs: Victory Square is part of the mixed-use Parkside redevelopment Specs: The former parking lot will be redeveloped into 90,000 sq. ft. of and offers 98 apartments for seniors and 25 enclosed parking spaces. retail space, anchored by a 76,000 sq. ft. Walmart (with 40,000 sq. ft. Units range in size from 608 sq. ft.–1,016 sq. ft. for groceries) and 303 apartments. The Walmart plans to open 1Q 2014 and the residential will start to deliver in 4Q 2013.44 © 2012 Washington, DC Economic Partnership
    • Residential Development development Highlights Image courtesy of Avalon BayImage courtesy of The Menkiti Group 901 Monroe Street AVA H Street Location: 901 Monroe Street, NE  Ward: 5 Location: 318 I Street, NE  Ward: 6 Developer(s): The Menkiti Group/Horning Brothers Developer(s): AvalonBay Communities Architect(s): Esocoff & Associates Architect(s): KTGY Contractor(s): Paradigm Construction Contractor(s): AvalonBay Communities Estimated Cost: $50 million Estimated Cost: $35 million Status: Medium Term  Targeted Delivery: 4Q 2014 Status: Under Construction  Targeted Delivery: 4Q 2012 Specs: This TOD project will consist of 213 apartments, 13,000 sq. Specs: AVA H Street will offer 138 apartments (studio, one- and two- ft. of retail space and 154 parking spaces. Demolition of the existing bedroom units) and offer a fitness center, bike storage and repair room, buildings on the site is expected to start in 4Q 2012. and a penthouse.Image courtesy of The JBG Companies Atlantic Plumbing (Parcels A & B) Bailey Park Location: 2030 & 2112 8th Street, NW  Ward: 1 Location: 625 Rhode Island Avenue, NW  Ward: 6 Developer(s): The JBG Companies/Walton Street Capital Developer(s): United House of Prayer Architect(s): Morris Adjmi Architects/Eric Colbert & Associates Architect(s): Suzane Reatig Architecture Estimated Cost: $120 million Contractor(s): McCullough Construction LLC Status: Medium Term  Targeted Delivery: 2014 LEED: Certified Specs: The former Atlantic Plumbing site (Parcels A & B) will be Status: Completed  Delivery: 3Q 2012 redeveloped into 375 apartments and 25,000 sq. ft. of retail space. Specs: This new four-story, 16-unit apartment building offers a blend of two and three‐bedroom units, ranging from 1,150 sq. ft. to 2,200 sq. ft. DC Development Report 2012/2013 Edition 45
    • Residential Development Development Highlights Image courtesy of Clark Realty Capital Flats at Atlas The Villages at Dakota Crossing Location: 1600 Maryland Avenue, NE  Ward: 5 Location: Fort Lincoln Drive & Commodore Joshua Barney Drive, NE Developer(s): Clark Realty Capital LLC Ward: 5 Architect(s): Preston Partnership LLC Developer(s): Fort Lincoln New Town Corporation/Concordia Group Contractor(s): Clark Builders Group Contractor(s): Ryan Homes Estimated Cost: $42 million Estimated Cost: $20 million Status: Completed  Delivery: 3Q 2012 Status: Completed  Delivery: 3Q 2012 Specs: Phase I of the Arboretum Place development delivered in Specs: Phase I of The Villages at Dakota Crossing consists of 85 Summer 2012 and offers 257 apartments and 5,000 sq. ft. of retail townhomes and started to deliver in Spring 2012. The overall planned space. unit development consists of 334 townhome and townhome style condominiums on 23 acres. Visualization by Interface Multimedia Image courtesy of Safeway Park 7 Petworth Safeway Location: Minnesota Avenue & Benning Road, NE  Ward: 7 Location: 3830 Georgia Avenue, NW  Ward: 4 Developer(s): Donatelli Development/Blue Skye Development LLC Developer(s): Duball LLC/Safeway Inc. Architect(s): Eric Colbert & Associates PC Architect(s): Torti Gallas & Partners Contractor(s): Blue Skye Construction LLC LEED: Silver  Estimated Cost: $50 million Estimated Cost: $68 million Status: Near Term  Targeted Delivery: 3Q 2014 Status: Under Construction  Targeted Delivery: 1Q 2014 Specs: The existing 21,000 sq. ft. store will be demolished and Specs: Park 7, located on a five-acre site at the intersection of replaced with a new 63,000 sq. ft. grocery store and 218 apartments. A Minnesota Avenue and Benning Road, NE, will consist of 376 groundbreaking ceremony was held in September 2012. apartments and 22,000 sq. ft. of retail space.46 © 2012 Washington, DC Economic Partnership
    • Residential Development development HighlightsImage courtesy of The Jefferson Apartment Group Jefferson at Market Square Archstone First + M Location: 1550 7th Street, NW  Ward: 6 Location: 1160 1st Street, NE  Ward: 6 Developer(s): The Jefferson Apartment Group Developer(s): Archstone Architect(s): Lessard Design Architect(s): Davis, Carter, Scott Ltd Contractor(s): SE Foster Construction Company Contractor(s): Paradigm Construction Estimated Cost: $80 million Status: Completed  Delivery: 2Q 2012 Status: Under Construction  Targeted Delivery: 1Q 2014 Specs: The first phase of the Square 673 development is a 13-story, 469- Specs: The former Kelsey Gardens site will be redeveloped into 281 unit apartment building with 2,500 sq. ft. of retail space. The average apartments and 13,363 sq. ft. of retail space. unit size is about 850 sq. ft.Image courtesy of Perseus Realty Jefferson 14W The Avenue Location: 1325 W Street, NW  Ward: 1 Location: 3506 Georgia Avenue, NW  Ward: 1 Developer(s): Perseus Realty/The Jefferson Apartment Group Developer(s): Park Morton Development Partners/Central Union Architect(s): HOK/Davis, Carter, Scott Ltd Mission/Landex Corporation Contractor(s): Clark Construction Group LLC Architect(s): Wiencek + Associates Architects + Planners Estimated Cost: $80 million Contractor(s): Hamel Builders Status: Under Construction  Targeted Delivery: 4Q 2012–1Q 2013 Estimated Cost: $14 million Specs: This mixed-use project will include a new 46,000 sq. ft. YMCA, Status: Under Construction  Targeted Delivery: 3Q 2012 11,000 sq. ft. of retail space and 231 apartments. Specs: The Avenue is the first phase of the Park Morton redevelopment and will offer 83 affordable apartments and 2,600 sq. ft. of retail space. A grand opening ceremony was held in September 2012. DC Development Report 2012/2013 Edition 47
    • Residential Development Development Highlights Image courtesy of The JBG Companies Image courtesy of The JBG Companies Fort Totten Square The District Location: South Dakota Avenue & Riggs Road, NE  Ward: 4 Location: 1407 S Street, NW  Ward: 2 Developer(s): The JBG Companies/Lowe Enterprises Real Estate Group Developer(s): The JBG Companies/Grosvenor USA Architect(s): Hickok Cole Architects Architect(s): Shalom Baranes Associates Contractor(s): Clark Builders Group Contractor(s): Lend Lease Estimated Cost: $120 million LEED: Silver  Estimated Cost: $60 million Status: Near Term  Targeted Delivery: 2014 Status: Near Term  Targeted Delivery: 2013 Specs: The first phase of the Ft. Totten Square development will deliver Specs: The District will include 125 apartments and 18,000 sq. ft. of 345 apartments, 130,000 sq. ft. of retail space (anchored by a 120,000 first floor retail space (anchored by Ted’s Bulletin). The historic Hudson sq. ft. urban-format LEED certified Walmart) and 750 parking spaces. building on the site will be incorporated into the project. WDCEP 2012.pdf 1 10/22/2012 10:32:18 AM We want to help you maximize the value of your property Let JBG Rosenfeld Retail help you unlock value in your retail or mixed-use project. We are aggressively C pursuing acquisitions and joint venture opportunities M all �lexibly structured to meet your needs. YCMMYCYCMY K Acquisition, Entitlement, Leasing, Financing, Budgeting, Construction, Property and Asset Management. 77 H | Washington, DC The JBG Companies | JBG Rosenfeld Retail Bennett Group MV+A Architects We specialize in traditional grocery-anchored shopping centers and urban mixed-use development opportunities in the mid-Atlantic region. Our management and leasing portfolio includes over 5 million square feet of retail. Show us your project and we’ll Experience. Expertise. Exceptional Results. tell you how we can bring liquidity and expertise to the table. 4445 Willard Avenue Suite 700 | Chevy Chase, MD 20815 | Phone: 301.657.0700 | Fax: 301.657.9850 | www.jbgr.com 48 © 2012 Washington, DC Economic Partnership
    • 1Hospitality Development Hospitality development Description
    • Hospitality Development DC Hospitality Market Snapshot Annual Visitors1 17.9M Hotel Rooms2 27,633 Hotel Occupancy Rate2 75.5% RevPAR2 $154.93 Avg. Daily Room Rate2 $202 New Museums/Memorials (since 2001) 3 12 U.S. Lodging Market The trailing twelve-month period has been an interesting one for the U.S. lodging sector. Beginning in mid-2011, the industry began to experience headwinds with regard to transaction activity largely based on investor sentiment that RevPAR (revenue per available room) growth would not be sustainable at then-current levels. As a result a substantial decrease in the stock price of lodging companies and REITs occurred, punctuated by one of the largest hotel REITs forfeiting a $12 million earnest money deposit rather than close on a contract to purchase a large Washington, DC hotel asset. At the beginning of 2012, the investment community recognized that RevPARs continued a strong relative growth and most of the major lodging stocks rebounded, nearly reaching the high levels from a year ago. The overall market continues to suffer from tight credit and investor interest is generally limited to a few cities, including New York, Washington, Boston, Miami and San Francisco. DC Lodging Market During the same period, the lodging market in DC remained relatively stable. In 2011, the RevPAR for DC hotels was $155.12, a 3.7% increase from 2010, the second straight year of 3% plus increase in RevPAR. Through the past 12 months (ending September 2012), RevPAR stands at $154.93 and the hotel occupancy rate is 75.5%. The reduction of government-related travel and flat government per diem levels contributed to the downward pressure on RevPAR growth. Looming supply additions in the DC metro area could limit RevPAR growth in the near-term. By the end of 2014, DC alone will add more than 1,500 hotel rooms to its inventory with the additions of the Foggy Bottom 149-room Courtyard by Marriott (1Q 2013 delivery), 1,175-room Marriott Marquis Convention Center Hotel (2Q 2014 delivery) and the 182-room Cambria Suites Hotel (2014 delivery). And if development plans stay on schedule for several planned hotel projects, an additional 1,000 rooms could come to market by the end of 2014. Despite challenges the DC lodging market remains a target market for most institutional hotel investors, with vacancy rates consistently above 70%. A healthy economy, tourist destination and strong government base has resulted in sustained high pricing for recent hotel transactions.4 DC RevPAR—% Change5 10.6% 3.7% 3.3% 2.8% 2.2% 2009 2007 2008 2010 2011 2012 (YTD) -6.1% 1. DestinationDC 2011 Visitor Statistics  2. DC Office of Research & Analysis/Smith Travel Research (10/2011 – 9/2012 averages)  3. WDCEP estimate  4. CBRE Research  5. DC Office of Research & Analysis/Smith Travel Research (YTD: 1/2012 – 9/2012)50 © 2012 Washington, DC Economic Partnership
    • Hospitality Development Development OverviewHospitality Development 1 (August 2012) 44 Hotel Construction Starts (since 2000) # of Projects Sq. Ft. Hotel RoomsCompleted 142 14,747,778 10,583 7 (1,007) in 2001 11 683,718 411 in 2002 17 931,600 1,416 in 2003 15 3,079,707 490 in 2004 13 1,776,381 500 6 (925) in 2005 16 1,116,564 1,106 5 5 in 2006 14 1,009,386 754 (962) (1,991) in 2007 7 758,500 538 in 2008 9 3,138,593 2,159 in 2009 12 820,746 1,035 in 2010 12 1,052,328 1,614 4 4 (2,053) in 2011 9 241,255 204 (895) 3 in 2012 (YTD) 7 139,000 356 (659) 3Under Construction 16 2,029,418 1,667 (515) 2 2012 delivery 7 210,985 40 (1,324) 2013 delivery 5 220,070 270 2 2014 delivery 4 1,598,363 1,357 (550)Pipeline 67 6,511,947 6,470 1 1 1 Near Term 15 960,880 1,295 (237 hotel rooms) (544) (40) Medium Term 19 1,032,455 1,227 Long Term 33 4,518,612 3,948 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (YTD)Total 225 23,289,143 18,720Hotel Deliveries (# of hotel rooms) Completed  Under Construction 2,159 1,614 1,416 1,357 1,106 11-year Annual Average 1,035 930 hotel rooms 754 538 490 500 411 396 40 270 204 356 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20122 20132 201421. includes community, entertainment, hotel & museum components   2. projections based on targeted delivery dates of projects under construction as of August 2012 DC Development Report 2012/2013 Edition 51
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    • Hospitality Development Development PipelineTop Hospitality Projects Completed (2011– August 2012)Project Ward Location Developer(s) Sq. Ft. Rooms Est. Value1 ($M) Delivery StonebridgeCarras/Walton StreetHilton Garden Inn 6 1225 1st St., NE 132,100 204 $150 2011 Capital/OTO Development733 10th and G 2 733 10th St., NW Skanska/PN Hoffman 25,000 $85 2011Tenley-Friendship Neighborhood 3 4450 Wisconsin Ave., NW DC Public Library 24,000 $16 2011LibraryPetworth Neighborhood Library 4 4200 Kansas Ave., NW DC Public Library 19,300 $12 2011The Hill Center 6 921 Pennsylvania Ave., SE Capitol Hill Community Foundation/DGS 17,955 $10 2011Howard Theatre 1 620 T St., NW Ellis Development Group 34,000 $24 2012NMAH Garage Infill Project 2 1400 Constitution Ave., NW Smithsonian Institution 30,000 $10 2012Rosedale Community Center 6 1701 Gales St., NE DC Department of Parks & Recreation 30,000 $17 2012William O. Lockridge/Bellevue DC Public Library/JAIR LYNCH 8 115 Atlantic St., SW 22,500 $14 2012Library Development Partners DC Public Library/JAIR LYNCHFrancis A. Gregory Library 7 3660 Alabama Ave., SE 22,500 $16 2012 Development PartnersTop Hospitality Projects Under ConstructionProject Ward Location Developer(s) Sq. Ft. Rooms Est. Value1 ($M) DeliveryTennis, Education and East Capitol St. & Stoddert Washington Tennis & Education 7 66,000 $10 2012Community Center Pl., SE FoundationJefferson 14W 1 1325 W St., NW Perseus Realty/Jefferson Apartment Grp. 46,000 $80 2012Capella Georgetown 2 1050 31st St., NW Castleton Holdings 42,000 40 $45 2012The Concordia 2 1250 New Hampshire Ave., NW International Monetary Fund 92,000 105 $23 2013Courtyard by Marriott 2 515 20th St., NW All State Hotel LLP 91,070 149 $45 2013Eagle Center (Phase II) 8 3400 Wheeler St., SE Eagle Academy Public Charter School 27,000 2013Convention Center Hotel Quadrangle Development/Capstone 2 901 Massachusetts Ave., NW 1,076,363 1,175 $520 2014(Marriott Marquis) Development/ING/MarriottCityMarket at O Street (Phase I) 6 1400 7th St., NW Roadside Development 117,000 182 $250 2014National Museum of African- 2 The National Mall Smithsonian Institution 350,000 $500 2015American History & CultureNational Law Enforcement 2 400 block of E St., NW NLEOMF 55,000 $80 2015MuseumTop Hospitality Projects Pipeline (near term)Project Ward Location Developer(s) Sq. Ft. Rooms Est. Value1 ($M) Delivery21729 H Street 2 1729 H St., NW OTO Development LLC 57,000 116 2013Central Union Mission 6 65 Massachussetts Ave, NW Central Union Mission 34,000 $12 2013The Watergate 2 2650 Virginia Ave., NW Euro Capital Properties 186,969 355 $70 2014 Adams Morgan Church Hotel/Adams Morgan Historic Hotel 1 1780 Columbia Rd., NW Friedman Capital Advisers/Foxhall 176,671 220 $100 2014 Partners New York Ave. & North Morgan Stanley/JBG Urban/Hyatt Place Hotel 6 125,000 200 $40 2104 Capitol St., NE MacFarlane Partners Perseus Realty/OTO DevelopmentHilton Garden Inn 2 2201 M St., NW 115,000 238 2014 LLC/Starwood Capital GroupLife Learning Center 5 1251 Saratoga Ave., NE Israel Baptist Church 32,000 $14 2014GWU Museum 2 21st & G Sts., NW George Washington University 31,470 $22 2014 DGS/DC Department of Parks &Barry Farm Recreation Center 8 1230 Sumner Rd., SE 22,000 $23 2014 Recreation Donohoe Companies/Holland Dev.5th & Eye 6 5th & I Sts., NW Group/Harris Dev. Group/Spectrum 84,000 132 2016 Mgmt. 1. may include non-hospitality components   2. delivery date may reflect phase I delivery or final phase delivery DC Development Report 2012/2013 Edition 53
    • Hospitality Development Development Highlights Image courtesy of Friedman Capital Image courtesy of The JBG Companies Adams Morgan Historic Hotel Hyatt Place Hotel Location: 1780 Columbia Road, NW  Ward: 1 Location: New York Avenue & North Capitol Street, NE  Ward: 6 Developer(s): Adams Morgan Church Hotel LLC/Friedman Capital Developer(s): Morgan Stanley/JBG Urban LLC/JBG Companies/ Advisors/Foxhall Partners MacFarlane Partners Architect(s): OPX Architect(s): Shalom Baranes Associates/Cooper Carry Inc LEED: Silver  Estimated Cost: $100 million Estimated Cost: $40 million Status: Near Term  Targeted Delivery: 2014 Status: Near Term  Targeted Delivery: 2Q 2014 Specs: The 220-room hotel project includes the restoration and Specs: Phase I of the 2.0 million sq. ft. Capitol Square development preservation of the First Church of Christ, Scientist, and the will be a 200-room Hyatt Place hotel. It will be located on the western construction of a nine-story addition. It will also include about 21,000 portion of the site. sq. ft. of retail space and 4,600 sq. ft. of community space. Image courtesy of the Washington Convention Center Francis A. Gregory Library Convention Center Hotel (Marriott Marquis) Location: 3660 Alabama Avenue, SE  Ward: 7 Location: 901 Massachusetts Avenue, NW  Ward: 2 Developer(s): DC Public Library/JAIR LYNCH Development Partners Developer(s): Quadrangle Development/Capstone Development/ Architect(s): Adjaye Associates/Wiencek + Associates Architects + ING Clarion/Marriott Planners Architect(s): Thompson Ventulett Stainbeck/Cooper Carry/ Contractor(s): HESS Construction + Engineering Services/Broughton Lee and Associates Construction Company Contractor(s): Hensel Phelps Construction Company LEED: Silver  Estimated Cost: $16 million LEED: Silver  Estimated Cost: $520 million Status: Completed  Delivery: 2Q 2012 Status: Under Construction  Targeted Delivery: 2Q 2014 Specs: The new 22,500 sq. ft. library provides seating for more than Specs: Plans for the 1.1 million sq. ft. hotel include 1,175 rooms, 25,000 sq. 200 users and public meeting spaces that can accommodate up to 100 ft. of retail, 100,000 sq. ft. of meeting space and a 30,000 sq. ft. Grand people. The former library on the site was demolished in Spring 2010. Ballroom, two 10,800 sq. ft. junior ballrooms and 53,000 sq. ft. of additional meeting rooms.54 © 2012 Washington, DC Economic Partnership
    • Hospitality Development Development Highlights Development HighlightsCourtyard by Marriott The Hill CenterLocation: 515 20th Street, NW  Ward: 2 Location: 921 Pennsylvania Avenue, SE  Ward: 6Developer(s): All State Hotel LLP Developer(s): Capitol Hill Community Foundation/DGSArchitect(s): WDG Architecture PLLC/HVS Compass Architect(s): BELL ArchitectsContractor(s): HITT Contracting Inc Contractor(s): Whiting-Turner Contracting CompanyEstimated Cost: $45 million LEED: Silver  Estimated Cost: $10 millionStatus: Under Construction  Targeted Delivery: 1Q 2013 Status: Completed  Delivery: 4Q 2011Specs: The new Courtyard in Foggy Bottom will offer 149 rooms and Specs: The former 15,955 sq. ft. Old Naval Hospital was transformedthree levels of below grade valet parking. The hotel replaced a former into a community center offering a place for events, continuingparking garage. education and cultural programs. The 2,300 sq. ft. carriage house was turned into a café. Image courtesy of Ellis Development GroupHilton Garden Inn Howard TheatreLocation: 2201 M Street, NW  Ward: 2 Location: 620 T Street, NW  Ward: 1Developer(s): Perseus Realty/OTO Development/Starwood Capital Group Developer(s): Ellis Development GroupArchitect(s): Shalom Baranes Associates Architect(s): Martinez & JohnsonContractor(s): Turner Construction Company Contractor(s): Whiting-Turner Contracting CompanyLEED: Silver Estimated Cost: $24 millionStatus: Near Term  Targeted Delivery: 1Q 2014 Status: Completed  Delivery: 2Q 2012Specs: A new 238-room Hilton Garden Inn with about 4,500 sq. ft. Specs: The 34,000 sq. ft. Howard Theater underwent a $24 millionof retail/restaurant space will be built at the corner of 22nd and M renovation that resulted in 600–700 theater seats, with 1,000 personStreets, NW. capacity for standing functions, and a restaurant/café. It reopened in April 2012 after bring closed for more than 30 years. DC Development Report 2012/2013 Edition 55
    • Hospitality Development Development Highlights Image courtesy of WDG Image courtesy of Grosvenor USA Square 701 West End Square 50 Location: 1st & M Streets, SE  Ward: 6 Location: 23rd & M Streets, NW  Ward: 2 Developer(s): Skanska/Grosvenor USA Developer(s): EastBanc/Dantes Partners/Warrenton Development Group Architect(s): Hickok Cole Architects/Gensler Architect(s): TEN Arquitectos/WDG LEED: Platinum  Estimated Cost: $250 million LEED: Gold  Estimated Cost: $34 million Status: Long Term  Targeted Delivery: 2015 (ph I) Status: Medium Term  Targeted Delivery: 2015 Specs: Plans for the site call for a two residential buildings, totaling 285 Specs: The Square 50 development includes a new 15,000 sq. ft. units, a 170‐room hotel, a 224,000 sq. ft. office building and 43,000 sq. ft. Engine Company #1 fire station, a 20,000 sq. ft. squash club, and 61 of retail space. The residential portion may start construction in 2013. residential units. William O. Lockridge/Bellevue Library The Concordia Location: 115 Atlantic Street, SW  Ward: 8 Location: 1250 New Hampshire Avenue, NW  Ward: 2 Developer(s): DC Public Library/JAIR LYNCH Development Partners Developer(s): International Monetary Fund Architect(s): Adjaye Associates/Wiencek + Associates Architects + Architect(s): Bonstra|Haresign Architects Planners Contractor(s): Turner Construction Company Contractor(s): Coakley Williams Construction Company/Blue Skye LEED: Gold  Estimated Cost: $23 million Construction LLC Status: Under Construction  Targeted Delivery: 1Q 2013 LEED: Silver  Estimated Cost: $14 million Specs: The Concordia hotel serves members of the International Status: Completed  Delivery: 2Q 2012 Monetary Fund, the World Bank and designated affiliate organizations. Specs: The new 22,500 sq. ft. library features three levels and has a The building will be gutted and re-open as a 121-room extended stay meeting room for 100 people, two small conference rooms, and quiet apartment hotel. study rooms. The former library on the site was demolished in 2009.56 © 2012 Washington, DC Economic Partnership
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    • 1 Education Develop-Education development ment Description
    • Education Development DC Education Market Snapshot Total College Enrollment1 ~80,000 DC Public School Enrollment2 45,191 DC Public Charter School Enrollment 3 31,561 Hospitals4 15 Medical Space Built (since 2001) 1.3M SF Since 2001, more than 11 million square feet of education (primary/secondary, college/university) and medical space has been built or modernized in DC, with another 1.75 million square feet currently under construction. During this time DC has averaged about 913,800 square feet of deliveries per year, a total that will be surpassed in 2012 and 2013. While DC is internationally known for its colleges, universities and hospitals it has been the primary and secondary schools (public and private) that have built the most facilities, accounting for more than half of the 12.8 million square feet completed and under construction. This investment has been fairly recent as 65% of the 2.2 million square feet of primary/secondary space that has been built or modernized has occurred in the past five years. While it is unclear whether this level of construction activity will be met moving forward as many pipeline projects are subject to budget allocation there are still major projects on the horizon such as the new Ballou Senior High School, which will be rebuilt into a new 345,000 square foot building starting in 1Q 2013. Education Projects Under Construction & Completed (since 2001) Medical 13% Colleges/ 37% Universities Primary/ 51% Secondary With enrollment and competition increasing colleges and universities have built nearly 4.0 million square feet of new dorms and academic centers in DC since 2001, with another 759,000 square feet under construction. By far the most active (by square feet) has been George Washington University, which is responsible for nearly half of all college/university development. Non-DC based colleges that have built substantial new centers include the University of California (2001) and New York University (2012). College/University Development Under Construction & Completed5 (sq. ft. in millions) 2.28 1.00 .43 .26 .23 .22 .15 .09 .06 University of the District of Columbia George Washington University American University Gallaudet University Other Catholic University Howard University Trinity College Georgetown University 1. DC schools belonging to the Consortium of Universities of the Washington Metropolitan Area  2. DC Public Schools (2011-2012)  3. DC Public Charter School Board (2012)  4. U.S. News & World Report/Wikipedia  5. Projects completed since 2001 and under construction (graph not to scale)60 © 2012 Washington, DC Economic Partnership
    • Education Development Development OverviewEducation Development 1 (August 2012) 149 Education Construction Starts1 (since 2000) # of Projects Sq. Ft.Completed 139 11,078,438 18 in 2001 14 773,158 in 2002 14 1,119,500 17 16 in 2003 12 1,130,970 in 2004 17 1,237,481 in 2005 12 573,944 15 in 2006 13 995,820 13 in 2007 2 176,004 12 12 in 2008 8 675,570 12 in 2009 18 1,283,875 10 in 2010 7 999,490 in 2011 10 1,086,032 in 2012 (YTD) 12 1,026,594Under Construction 14 1,751,000 2012 delivery 3 147,000 6 6 6 6 2013 delivery 8 1,102,000 2014+ delivery 3 502,000Pipeline 33 3,991,325 Near Term 7 883,000 Medium Term 7 614,000 Long Term 19 2,494,325 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (YTD)Total 186 16,820,763Education Deliveries 1 (sq. ft. in thousands) Medical Completed  Medical Under Construction  Non-Medical Completed  Non-Medical Under Construction 11-year Annual Average 913,804 sq. ft. 1,237 1,284 1,174 1,120 1,131 36 10 1,086 1,102 111 996 999 28 227 224 414 773 448 36 676 1,121 999 574 878 13 859 737 706 561 551 176 105 138 43 38 62 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20122 20132 201421. includes medical projects   2. projections based on targeted delivery dates of projects under construction as of August 2012 DC Development Report 2012/2013 Edition 61
    • Education Development Development Pipeline Top Education Projects Completed (2011 – August 2012) Project Ward Location Developer(s) Sq. Ft. Est. Value1 ($M) Delivery Woodrow Wilson Senior High School 3 3950 Cheasapeake St., NW DC Public Schools/DGS/DPR 412,104 $115 2011 Howard D. Woodson High School 7 500 Eads St., NE DC Public Schools/DGS 235,000 $102 2011 Sibley Memorial Medical Office Building 3 5255 Loughboro Rd., NW Sibley Memorial Hospital 130,000 $31 2011 GWU Charles E. Smith Center 2 600 22nd St., NW George Washington University 100,000 $43 2011 Anacostia Senior High School 8 1601 16th St., SE DC Public Schools/DGS 207,000 $62 2012 Regents Hall 2 3700 O St., NW Georgetown University 150,000 $100 2012 Takoma Education Center 4 7010 Piney Branch Rd., NW DGS 104,294 $24 2012 Moten Elementary School 8 1565 Morris Rd., SE DGS/DC Public Schools 99,700 $17 2012 KIPP School—Shaw Campus 6 421 P St., NW JAIR LYNCH Development Partners 86,000 $13 2012 Turner Elementary School 8 3264 Stanton Rd., SE DC Public Schools/DGS 76,500 $27 2012 Top Education Projects Under Construction Project Ward Location Developer(s) Sq. Ft. Est. Value1 ($M) Delivery Constance Milstein & Family Academic 2 1307 L St., NW New York University 75,000 $25 2012 Center Cardozo High School 1 1200 Clifton St., NW DGS/DC Public Schools 395,000 $100 2013 Dunbar Senior High School 5 1301 New Jersey Ave. NE DGS/DC Public Schools 258,000 $122 2013 Scott Project for AFRH 5 3700 N. Capitol St., NW Armed Forces Retirement Home/GSA 174,000 $88 2013 School of Public Health & Health 24th St. & New Hampshire 2 George Washington University 115,000 $75 2013 Services Ave., NW UDC Student Center 3 4200 Connecticut Ave., NW University of the District of Columbia 87,000 $40 2013 Community of Hope Health and JAIR LYNCH Development Partners/ 8 4 Atlantic St., SE 50,000 $25 2013 Resource Center City Interests McKinley Hall 3 4400 Massachussetts Ave., NW American University 62,000 $26 2014 Unity Health Care 7 Kenilworth Terr. & Hayes St., NE JAIR LYNCH Development Partners 43,000 $24 2014 George Washington University/ Science & Engineering Building 2 22nd & H Sts., NW 397,000 $275 2015 Boston Properties Top Education Projects Pipeline (near & medium term) Project Ward Location Developer(s) Sq. Ft. Est. Value1 ($M) Delivery2 514 V Street 5 514 V St., NE Carlos Rosario Public Charter School 48,000 2013 New South Student Center 2 3700 O St., NW Georgetown University 45,000 $23 2014 Wisconsin Ave. & Lowell Procter Hall 3 National Cathedral School 28,000 $13 2014 Rd., NW Eagle Academy PCS/Ten Square Eagle Center (Phase III) 8 3400 Wheeler Rd., SE 20,000 2014 Group Ballou Senior High School 8 3401 4th St., SE DGS/DC Public Schools 345,000 $120 2014 Sibley Memorial Hospital expansion 3 5255 Loughboro Rd., NW Sibley Memorial Hospital 475,000 $250 2015 Washington College of Law 3 Tenley Campus American University 310,000 2015 Howard Town Center Developer LLC/ Howard Town Center 1 2114 Georgia Ave., NW Castle Rock Partners/Cohen Cos./ 27,000 $150 2015 Howard University Thaddeus Stevens Place 2 1050 21st St., NW Akridge/Argos Group LLC Intercollegiate Athletic Center 2 Georgetown University Georgetown University 135,000 $60 1. may include non-education components   2. delivery date may reflect phase I delivery or final phase delivery62 © 2012 Washington, DC Economic Partnership
    • Education Development development HighlightsImage courtesy of Bowie Gridley Architects Image courtesy of ZGF Architects Ballou Senior High School Community of Hope Health & Resource Center Location: 3401 4th Street, SE  Ward: 8 Location: 4 Atlantic Street, SE  Ward: 8 Developer(s): Department of General Services/DC Public Schools Developer(s): JAIR LYNCH Development Partners/City Interests Architect(s): Bowie Gridley Architects/Perkins+Will Architect(s): ZGF Architects LLP Contractor(s): Sigal Construction Corporation Contractor(s): Forrester Construction Company Estimated Cost: $120 million LEED: Silver  Estimated Cost: $25 million Status: Near Term  Targeted Delivery: 2014 Status: Under Construction  Targeted Delivery: 2013 Specs: The new 345,000 sq. ft. school will offer 37 classroom spaces, Specs: The new four-story, 50,000 sq. ft. Center will provide new 13 science and bio‐technology labs, 15 classrooms for specialized access to medical, dental, and behavioral healthcare for approximately education, a greenhouse, auto‐tech lab and eight‐lane, 25‐yard 8,500 residents of Ward 8. A ceremonial groundbreaking was held in competition swimming pool. July 2012. Constance Milstein & Family Academic Center Educare School Location: 1307 L Street, NW  Ward: 2 Location: 640 Anacostia Avenue, NE  Ward: 7 Developer(s): New York University Developer(s): Educare Architect(s): Hickok Cole Architects LEED: Certified  Estimated Cost: $16 million Contractor(s): Sigal Construction Corporation Status: Completed  Delivery: 2Q 2012 LEED: Gold  Estimated Cost: $25 million Specs: The 32,100 sq. ft. school, funded by a unique consortium of Status: Under Construction  Targeted Delivery: 3Q  2012 private and public partners, provides direct services to 171 infants, Specs: New York University’s College of Arts & Sciences new nine-story, toddlers, preschoolers and their families in the Parkside community. 75,000 sq. ft. building will include space for dorms, academic, office, support services and a 140-seat auditorium. The building opened in September 2012. DC Development Report 2012/2013 Edition 63
    • Education Development Development Highlights Image courtesy of Bowie Gridley Architects Image courtesy of Boston Properties McKinley Hall Renovation Science & Engineering Building Location: 4400 Massachusetts Avenue, NW  Ward: 3 Location: 22nd & H Streets, NW  Ward: 2 Developer(s): American University Developer(s): George Washington University/Boston Properties Architect(s): Bowie Gridley Architects Architect(s): Ballinger Architects/Hickok Cole Architects Contractor(s): Sigal Construction Corporation Contractor(s): Clark Construction Group LLC LEED: Silver  Estimated Cost: $26 million LEED: Silver  Estimated Cost: $275 million Status: Under Construction  Targeted Delivery: 1Q 2014 Status: Under Construction  Targeted Delivery: 1Q 2015 Specs: The 62,000 sq. ft. McKinley Hall project features include a Specs: The eight-story, 400,000 sq. ft. building will house GWU’s science converged newsroom, classrooms, support spaces and a 148-seat and engineering schools. The building will feature six underground theater. The construction includes both renovation of the existing floors (two for programs and four for parking). Demolition of the former historic building and expansion using a modern glass facade. parking garage on the site occurred in October 2011. Image courtesy of Cannon Design Photo by Freddie Lieberman Photography UDC Student Center Unity Anacostia Location: 4200 Connecticut Avenue, NW  Ward: 3 Location: 1500 Galen Street, SE  Ward: 8 Developer(s): University of the District of Columbia Developer(s): JAIR LYNCH Development Partners Architect(s): Cannon Design/Marshall|Moya Design Architect(s): Little Diversified Architecture Contractor(s): Forrester Construction Company/Parkinson Construction Contractor(s): Forrester Construction Company LEED: Platinum  Estimated Cost: $40 million LEED: Silver  Estimated Cost: $20 million Status: Under Construction  Targeted Delivery: 2013 Status: Completed  Delivery: 2Q 2012 Specs: The University of the District of Columbia’s new 70,000 sq. ft. Specs: The new 28,000 sq. ft. facility will allow the Anacostia Health student center will include new construction and renovated space. Center to expand existing services such as primary and specialty care, The center will feature a cafeteria, student lounges, recreation area, a dentistry, psychiatry, health education, and case management and add 10,000 sq. ft. fitness facilitiy, a ballroom and conference space. an urgent care suite.64 © 2012 Washington, DC Economic Partnership
    • Education Development development Highlights Image courtesy of Smoot ConstructionAnacostia Senior High School Dunbar Senior High SchoolLocation: 1601 16th Street, SE  Ward: 8 Location: 1301 New Jersey Avenue NE  Ward: 5Developer(s): DC Public Schools/Department of General Services Developer(s): Department of General Services/DC Public SchoolsArchitect(s): Sorg & Associates PC Architect(s): EE&K Architects/Moody-Nolan ArchitectsContractor(s): Forrester Construction Company/EEC of DC Inc. Contractor(s): Smoot Construction/Gilbane IncLEED: Gold  Estimated Cost: $62 million LEED: Platinum  Estimated Cost: $122 millionStatus: Completed  Delivery: 3Q 2012 Status: Under Construction  Targeted Delivery: 3Q 2013Specs: The modernization involved 207,000 sq. ft. and resulted in an Specs: The new 258,000 sq. ft. Dunbar High School will be organizedimproved cafeteria, new MEP systems, a new media center, and a around the “Armory”, the central heart of the school. The building willrestored gymnasium and auditorium. Phase I was completed in August feature four academies with labs and classrooms, performing arts and2011 and Phase II was completed in August 2012. physical education facilities for 1,100 students. access Dc’s economic DeveLopment pipeLine use WDcep’s DeveLopment search 10+ years of data, access to $80 billion in development investment, 1,350+ projects Learn more at wdcep.com DC Development Report 2012/2013 Edition 65
    • Developmen
    • nt Hot Spots 3 1 Anacostia | Capitol Riverfront | Mount Vernon Triangle | NoMa | Shaw Description
    • Anacostia River AW Park IRL FA ST 4TH ST Development Hot spots 5TH ST H Q ST AnacostiaU ST 16TH ST E M R STAV M S OT A NE MIN S ST Poplar Point T ST ST U ST GOO 1 DH OP ST ER VE 95 D 13TH PL I- 2 ST JR A M V ST ON 14TH ST ST M NN G 16TH 14TH ST 13TH ST SHA KIN W ST E R HE AV 8TH ST T 2 LU 3 TIN 4 NT AR MO M M M ST R VE SU M NE R HO 5 RD W 6 AR D RD ST EV E M AV E O NS RD 7 HO RR IS Fort Stanton D RD Park AN WQ ST AR ISL RD D RD E DSTANTON RD HO E R AD 8 W ST 9 ERIE Logan ELVANS R D ST Circle STITOL P OM GAINESVILLE ST EROY R D O ST ELVANS RD UI 10 S ST. ELIZABETHS TL EAST CAMPUS AN ST. ELIZABETHS D PK WEST CAMPUS WY MARTIN LUTHER KING JR AVEN ST 13TH ST 9TH ST 11TH ST 6TH ST 7TH ST 5TH ST R TE N TO T ST NTON RD ES Anacostia STAN # of Total UCEd. Office Res. Retail Est. Proj. SF SF SF Units SF Value BRM ST Development Summary TotalM M ST A Over the past several years the neighborhoods near 53 24,731,476 526,200 10,653,700 9,799 1,314,100 $10,430M 12 H WASHINGTON 15TH PL Martin Luther King Jr. Avenue and Good Hope Road 11 CONVENTION have seen a substantial amount of residential renova- CENTER Completed (since 2001) VE 2ND S T NE 27 2,040,158 466,200 255,000 992 13,500 $441M KA W tions and in 2012C newer developments such as Sheri- ST ST O R H 18T H M 4T 5T B Under Construction (August 2012) YO dan Station and Matthews ST Memorial Terrace delivered HS W SAV 213 additional units to the market. Anacostia and its T NE SAFEWAY 4 1,314,550 0 1,179,550 80 0 $1,320M L ST ANN AL commercial corridors will also be able to benefit from LE Y Pipeline AH T SQ the construction of the U.S. Coast Guard Headquarters MALCOM X AVE ER 22 21,376,768 60,000 9,219,150 8,727 1,300,600 $8,668M Building which will bring 4,400 employees to the area in May 2013. AVE AMA 7TH ST ALAB K ST 68 © 2012 Washington, DC Economic Partnership 2011 NPR H ST NNA SAVA
    • Development Hot spots Anacostia Photo by Freddie Lieberman PhotographyImage courtesy of Forrester Construction 1 Anacostia Library 2 Unity Anacostia 3 2252–2228 MLK Avenue 4 Salvation Army 5 Grandview Estates 6 Sheridan Station 7 Barry Farm 8 Matthews Memorial Terrace 9 Townes of Hillsdale Visualization by Interface Multimedia Image courtesy of DMPED Image courtesy of DMPED 12 Saint Elizabeths East Gateway 10 U.S. Coast Guard HQ Building 11 Saint Elizabeths East Pavilion DC Development Report 2012/2013 Edition 69
    • learN with the WDCEPexPlore with the WDCEPiNteraCt with the WDCEP the WashiNgtoN, DC eCoNomiC PartNershiP provides dC busiNesses With • site location assistance • economic data • development information • business development seminars • Neighborhood demographics Learn more at wdcep.com
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    • CA TH CK SOU YA VE ST D ST 4TH ST Development Hot spots 5TH ST E ST H Capitol RiverfrontU ST M M 14TH ST G ST NEW ST 8TH ST I-39 5 J 2 ERSE 1 I ST I ST 4 Y AV K ST K ST M 4TH ST 2ND ST 2ND ST E ST HALF ST 14TH ST 13TH ST L ST SOUTH CAPITOL ST L ST 3 E AV 8TH ST M M ST NT M MO 9 U.S. DOT M ST 11 R 5 1ST ST 10 VE 6 TINGEY ST co 7 E 12 AV U.S. NAVY YARD D a AnQ ST AN NATIONALS ISL PARK 8 E OD RH Logan ST Circle VE CA O MAOT O ST HALF ST Poplar PointN ST 13TH ST 9TH ST 11TH ST ST ST 5TH ST Capitol Riverfront 6TH 95 7TH Development Summary ST Total New Residential Units1 (since 2006) VE 13TH PL MI-2 STM ST M ST JR A 3,458 V The Capitol Riverfront, a 500-acre neighborhood, # of Total Hotel Office Res. Retail Est. ON 14TH Proj. SF Rooms SF Units SF Value M NN is anchored by the U.S. Navy Yard, Nationals Park 2,808 G Total SHA KIN and the $42 million, 5.4-acre Yards Park. By the end WASHINGTON 2,532 WS CONVENTION 2,371 of 2012 the neighborhood will welcome the addi- 65 27,057,043 1,145 12,461,032 10,553 993,408 $7,732M 2,201 R HE CENTER 2,041 tion of the three-block Canal Park, Capitol Quar- Completed (since 2001) UT VE KA L TIN ter (Phase II) residences and the 335,000 sq. ft. 200 1,604 AR R YO 29 9,738,448 204 5,917,857 2,531 133,940 $2,788M Eye Street office building, fully leased to the DC M M WL ST Government. The Boilermaker Shops will also open in late 2012/early 2013 with several restaurants. By Under Construction (August 2012) 644 NE SAFEWAY 8 1,692,040 0 S 354,500 UM 1,087 151,140 $532M 506 2014, the area will add another 1,087 residential NE R HO units and 151,000 sq. ft. of retail space, including a Pipeline RD W AR 1 1 1 D 06 07 08 09 10 11 28 15,626,555 941 6,188,675 6,935 708,328 $4,413M 12 13 14 50,000 sq. ft. Harris Teeter. RD 20 20 20 20 20 20 20 20 20 ST EV K ST M 72 © 2012 Washington, DC Economic Partnership 2011 ENS O 1. Deliveries based on projects under construction (8/2012) NPR RR RD HO IS W RD AR
    • Development Hot spots Capitol Riverfront Image courtest of WC Smith Image courtesy of STUDIOS Architecture 1 Park Chelsea 2 200 Eye Street 3 Canal Park Image courtesy of Forest City Image courtesy of Forest City 4 Capitol Quarter (Phase II) 5 Twelve12 6 The Boilermaker Shops Image courtesy of Forest City Image courtesy of Grosvenor USA 7 Foundry Lofts Apartments 8 The Lumber Shed 9 Square 701Image courtesy of Monument Realty Image courtesy of Akridge Image courtesy of WDG 10 Half Street (Phase II) 11 Akridge at Half Street 12 Camden South Capitol DC Development Report 2012/2013 Edition 73
    • ST 4TH ST Development Hot spots N ST 5TH ST 9TH ST H 6TH ST 7TH ST Mount Vernon TriangleU ST 5TH ST 4TH ST M M M M ST ST WASHINGTON CONVENTION 2 CENTER 1 VE RK A4 M ST YO I-39 3 W NE SAFEWAY 14TH ST 13TH ST E 5 NEW AV 8TH ST 5 NT MO 6 M JERS ST K ST R VE NPR 9 7 EY A 8 10 E D AV VEQ ST AN E ISL11 OD RH 12 Logan ST Circle H ST MA M SS AC HU SE O ST TT S AV G ST EN ST 13TH ST M 9TH ST 11TH ST Mount Vernon Triangle 6TH ST 7TH ST F ST 5TH ST Development Summary M Total New Residential Units1 (since 2004) CityVista became the epicenter of the neighborhood # of Total Hotel Office Res. Retail Est. 2ND ST Proj. SF Rooms SF Units SF Value 2,813 in 2008 when it delivered 685 residences, a 55,000 sq.M ST ft. urban lifestyle Safeway grocery store and another Total M 2,579 M ST 27 6,743,774 360 2,623,618 3,842 293,613 M $1,966M 2,189 62,000 sq. ft. of retail/restaurants. While the area has E ST WASHINGTON 1,971 been a haven for new residential development (pro- Completed (since 2001) CONVENTION 1ST ST jected total of 2,813 new units built from 2004 – 2013), CENTER VE 16 3,541,774 228 682,418 2,697 163,648 $886M KA office development has given the area a steady day- time population as well. 455 Massachusetts Avenue Under Construction (August 2012) R delivered a new 242,000 sq. ft. office building in 2008 2 518,000 0 273,200 234 23,800 $180M 729 W YOL ST D ST NE SAFEWAY AVE and 425 Eye Street, a 388,000 sq. ft. office building, 321 246 Pipeline underwent a major renovation in 2010. The AAMC will A AN DIinto open its a new 600-employee headquarters in 2014 9 2,684,000 132 1,668,000 911 106,165 $900M 1 31 AV 04 05 06 07 08 09 10 11 12 IN 1 20 20 20 20 20 20 20 20 20 20 and the former NPR HQ site will be redeveloped A D ST a 450,000 sq. ft. office building. K ST C ST N IA 74 © 2012 Washington, DC Economic Partnership 1. Deliveries based on projects under construction (8/2012) NPR PE IS
    • Development Hot spots Mount Vernon Triangle Image courtesy of WDG 1 Yale West 2 Yale East 3 460 New York Avenue Image courtesy of the AAMC 4 Meridian at Mount Vernon Triangle 5 CityVista 6 AAMCImage courtesy of Boston Properties Image courtesy of The JBG Companies Image courtesy of Capital Pixel 7 601 Massachusetts Avenue 8 Hampton Inn/555 Mass Avenue 9 440 K Image courtesy of the Mount Vernon Triangle BID 10 425 Eye Street 11 455 Massachusetts Avenue 12 DuMont DC Development Report 2012/2013 Edition 75
    • 3 2ND SUMMIT PL 3RD 5T 4TH ST 4TH ST Development Hot spots T ST T ST 5TH ST H NoMa RDU ST OLN M S ST M LINC FL OR ID AA R ST ST VE 1ST ST 1 NEW M ST SIRIUS XM FEDEX E AV 14TH ST 13TH ST J P ST RK ERSE E W YO NE AV 8TH ST NoMa O ST 3 Y NT AVE ST Development Summary H MO M 4T T HS ST M R The New York Avenue Metro station opening in 2004 5T T ATF VE 2 HS has preceded nearly 8.0 million sq. ft. of development N ST 6T in the NoMa neighborhood. Most notably Constitution 4 6TH ST Square (Phase I), a 1.5 million sq. ft. mixed-use devel- 5TH ST 4TH ST E AV 5 opment consisting of 910,000 sq. ft. of office space, 440 6 apartments, 80,000 sq. ft. of retail anchored by a 50,000 D MQ ST AN M ST M ST ISL sq. ft. Harris Teeter grocery store and a 204-room Hil- E OD ton Garden Inn. Seven residential projects are also un- 7 der construction which will add 2,204 new apartments VE RH KA to the area by 4Q 2014. R 9 YO 8 I-39 W Hotel Logan # of NE SAFEWAY Total Office Res. Retail Est. L ST ST Circle 5 Proj. SF Rooms SF Units SF Value NEW 10 1ST ST NORTH CAPITOL ST Total JERS K ST 63 29,402,241 1,022 15,358,715 9,048 1,169,921 $9,220M K STNPR Completed (since 2001) O ST EY A 23 7,920,488 422 6,042,403 1,216 154,643 $2,526M I ST VE Under Construction (August 2012) 12 11 11 3,153,022 0 939,480 2,204 127,887 $1,032MN ST Pipeline H ST H ST MA SS 13TH STM AC 9TH ST 11TH ST 6TH ST 29 18,328,731 600 8,376,832 5,628 887,391 $5,662M 7TH ST H US E 5TH ST Total New Residential Units1 (since 2010) 2010) TT S AV G ST 3,376 E MM STM 2,673 UNION STATION M M ST F ST M 2ND ST 3RD ST 6TH ST 4TH ST 5TH ST WASHINGTON 2ND ST CONVENTION CENTER M VE E ST 1,487 KA 1ST ST R 703 W YOL ST VE D ST NE SAFEWAY AA IA N E IND AV 1 1 41 A Union 10 11 12 13 1 Stanton 3RD ST N 20 20 20 20 20 C ST Station IA Square IS Plaza 1ST ST PEN U K ST NSY 76 © 2012Deliveries based on projects under construction (8/2012) LVA 2011 Washington, DC Economic Partnership LO 1. NPR NIA AVE
    • Development Hot spots NoMa Image Courtesy of The JBG Companies Visualization by Interface Media 1 Trilogy at NoMa 2 Hyatt Place Hotel 3 Washington Gateway Apartments Image courtesy of SkanskaImage courtesy of StonebridgeCarras LLC Image courtesy of WC Smith 4 3 Constitution Square 5 44 & 88 M Street 6 2 M Street Image courtesy of WDG 7 Archstone First + M 8 Camden NoMa 9 1111 North Capitol StreetImage courtesy of Trammell Crow Company Image courtesy of the NoMa BID Image courtesy of Akridge 10 Sentinel Square (Phase II) 11 Burnham Place at Union Station 12 77 H DC Development Report 2012/2013 Edition 77
    • CREATING EXCEPTIONAL RESULTS OFFICE | HEALTHCARE | RESIDENTIAL | INDUSTRIAL | MIXED-USE | RETAILMCMILLAN REDEVELOPMENT SENTINEL SQUARE I ST. MATTHEW’S REDEVELOPMENT SHOPS at DAKOTA CROSSING SENTINEL SQUARE II DEVELOPMENT AND INVESTMENT www.trammellcrow.com/midatlantic 1055 Thomas Jefferson Street NW | Suite 600 | Washington, DC 20007 | (202) 337-1025AMDS12-9.indd 1 10/22/2012 11:48:11 AM
    • All in a day’s workstationAt WorkSpaces we appreciate our manufacturing partners who share in our tirelessdedication to service, customer satisfaction and overall quality. It’s these relationships thatallow us to provide spaces and services that satisfy our client’s needs… not ours. To learnmore about our partners, visit www.WorkSpacesllc.com
    • ST 4TH ST Development Hot spots 5TH ST H ShawU ST M M 1 ST 2 3 4 M ST Shaw 14TH ST 13TH ST Development Summary E AV 8TH ST 5 NT With the opening of the $850 million Walter E. Washing- MO ton Convention Center, Shaw is experiencing an urban renaissance that is seeing investment in new office, retail M ST R VE and residential developments. The 1,175-room Conven- tion Center Hotel is under construction and expected to open in 2Q 2014. One block north of the Convention Center, CityMarket at O Street, will deliver 626 residen- E tial units, a new 75,000 sq. ft. Giant Food grocery store D AVQ ST AN ISL and a 182-room Cambria Suites Hotel by 2013/2014. Finally, Progression Place will be the new home for the E OD RH 6 UNCF in 2013 and will deliver 110,000 sq. ft. of office space, 19,200 sq. ft. of retail space and 205 apartments. Furthermore by the end of 2014, CityMarket at O Street, Logan Progression Place and Jefferson at Market Square will ST Circle add 983 new residential units to the market. # of Total Hotel Office Res. Retail Est. 7 Proj. SF Rooms SF Units SF Value O ST Total 45 8,164,760 1,914 817,306 3,175 486,066 $2,542M Completed (since 2001) 8 26 3,479,567 50 11,892 938 68,372 $1,146MN ST Under Construction (August 2012) 9 13TH ST 9TH ST 11TH ST 6TH ST 6 2,594,221 1,357 178,442 1,200 184,577 $1,051M 7TH ST 5TH ST Pipeline 13 2,090,972 507 626,972 1,037 233,117 $345MM ST Total New Residential Units1 (since 2004) (since 2004) M M ST 2,100 WASHINGTON CONVENTION CENTER VE 1,322 KA 1,117 R YO 884 839 775 W NE SAFEWAY 590L ST 304 10 11 1 1 1 12 04 05 06 07 08 09 10 11 12 13 14 20 20 20 20 20 20 20 20 20 20 20 K ST 80 © 2012Deliveries based on projects under construction (8/2012) 1. Washington, DC Economic Partnership NPR
    • Image courtesy of the Washington Convention Center Image courtesy of Roadside Development Image courtesy of R2L Architects Image courtesy of The JBG Companies 4 Wonder Bread 1 WMATA Parcels 7 CityMarket at O 10 Convention Center Hotel Image courtesy of Shalom Baranes Associates Image courtesy of DHCD Image courtesy of Four Points LLC 5 Bailey Park 11 Square 450 8 Gibson Plaza 2 Progression Place Image courtesy of the AAMC Image courtesy of The Jefferson Apartment Group Image courtesy of Ellis Development Group 12 AAMC 9 1250 9th Street 3 Howard Theater 6 Jefferson at Market SquareDC Development Report 2012/2013 Edition Shaw Development Hot spots81
    • Appendix Appendix Methodology | Acknowledgements 4 1 Description
    • Development Overview Methodology The goal of the Washington, DC Economic Partnership was Financing Sources to create a comprehensive database of development activity Whenever possible, we identify public and private funding that would help us find answers to the following questions: sources. • What is the make-up of development activity? General Contractor • Where is the development activity occurring? As one of our primary sources of information, we maintain • What are the trends? information on the general contractors involved in the construction of the project. • How much is being invested in our community? However, before we could begin to collect development Green Development information we had to create a methodology to give us If a project contains “green elements” or sustainable design guidance on what data to assemble on each project and features it is considered a green project. which projects to include in our database. The following is a brief explanation of what types of data we try to obtain Groundbreaking for each development and how we gather that information. The groundbreaking date is an estimate of when a project is While our database of projects is constantly being updated, scheduled to start. For projects that are under construction for the purposes of this publication all data reflects project or completed the groundbreaking date can be the date of status, design and information as of August 2012. a groundbreaking event or the date that a building permit was issued on a project. Architect As one of our primary sources of information, we maintain Hotel Rooms information on the architects involved in the design of the For hotel projects, we track the number of new and renovated project. rooms. The number of rooms does not necessarily reflect net new rooms because it does not account for rooms taken Construction Type out of the inventory. Components of each project are categorized as one of the following: New Construction, Renovation or Infrastructure. Hot Spots If a project includes both new construction and renovation Development “hot spots” are areas within the city with current we try to record each portion separately. development underway or several projects in the pipeline. While there are many areas in the city that easily qualify as Delivery “hot spots,” these areas stand out for their current activity The delivery date is an estimate of when a project is scheduled or potential for future development. The areas defined in the to be completed. For completed projects, this is the date that book are not based on political or neighborhood boundaries the first certificate of occupancy was issued for the project. (neighborhood names are chosen in order to give a sense If no certificate of occupancy was issued then we use the of place to the reader). date supplied by a primary or secondary source. Imagery Description Many of the projects in our database include one or more Complex projects and mixed-use developments include a photos, renderings, elevations or other illustrations. In description that highlights key components and other points most cases these images are provided by either a primary of interest about the development project. or secondary source or are photos taken by the WDCEP. In many cases renderings and illustrations are concepts and Developer may not reflect the final design. As one of our primary sources of information, we maintain information on developers and other controlling interests Lead Tenant in development projects. The lead tenant could be the first lease signed in a new or renovated building or the tenant that occupies the most space.84 © 2012 Washington, DC Economic Partnership
    • Development Overview MethodologyLEED Long Term: Projects that are not expected to break ground forWhen possible we track the LEED (Leadership in Energy at least 36 months or longer. These projects are considered& Environmental Design) certification level that has either part of DC’s pipeline.been obtained or planned to achieve. The level listed may Medium Term: Projects that have the potential to breakreflect the entire project or one component of a mixed-use ground in 18–36 months. These projects are consideredor multi-phased project. part of DC’s pipeline.Location Near Term: Projects that have the potential to break groundThe physical address is used when possible, however when no in the next 18 months. These projects are considered partaddress is possible the closest intersection is used. of DC’s pipeline. Under Construction: Projects are defined as under constructionProject Cost once a building permit has been issued on the project or aWe track total development costs including both hard and primary source has indicated that construction has begun.soft costs associated with a project as well as land costs. Completed: Projects are defined as completed once theWhenever possible, we use actual costs provided by primary first certificate of occupancy is issued on a project, exceptsources. Sometimes, however, it is necessary to estimate in the case of a multi-phase project, where each phase of theproject costs based on historical information. Because of project is tracked separately. If no certificate of occupancythe tremendous amount of construction activity and staff was issued then we use the date supplied by a primary orresources required to maintain the data, we established secondary source.a minimum threshold of $5 million to be included in thedatabase (from 2001–8/2009 the minimum was $1 million). Use Each project is categorized by type of use. For mixed-useProject Name developments, we capture the square footage or units/Project names are generally the name of the building or rooms for each of the following:the development. However, when projects are referencedby different sources with different names, we use the most • Community1 • Education2 • Entertainment3 • Hotelcommonly referenced name of the project. When there is • Industrial4 • Medical5 • Museum6 • Office no name for the project, projects are referenced by address. • Residential • RetailResidential Units WardFor residential projects, we track the number of units of The Ward identified for each project is based off of the 2012both new construction and renovation. The number of new Ward boundaries.residential units does not necessarily reflect the net newunits on the market because it does not account for units Zip Codetaken out of the inventory. Zip codes are tracked for mapping purposes as defined by data from our geographic information system (GIS) and maySquare Footage not reflect the actual U.S. Postal zip code for that address.Whenever possible, we try to obtain the total square footageof the project. For mixed-use projects, we break out thesquare footage associated with each major use.StatusEach development project is tracked by status and definedby one of the following categories:1. library, recreational center, place of worship, etc.  2. K–12, colleges, universities, etc.  3. movie theaters, live performance venues, etc. 4. industrial & warehouse  5. hospitals, clinics, etc.  6. museums & memorials DC Development Report 2012/2013 Edition 85
    • Development Overview Methodology Where do we get our information? Adding or Updating Information To capture the most comprehensive inventory, we use a If you are looking for information about a specific project variety of sources to gather information about development and you do not see it on our list, it may have been omitted activity, and whenever possible, we contact the developers for one of the following reasons. directly to get the most up-to-date and accurate information 1. It did not meet the $5 million threshold. There is simply available and do site location visits to verify the project’s too much activity for us to keep accurate information status. Often our research uncovers discrepancies in available about every improvement made in the District of data on project information such as square footage, cost, Columbia. Therefore, we only collect data for projects number of units, etc. When this occurs, we try to reconcile valued over $5 million. the differences by speaking directly with parties involved in the development. Some of our sources include: 2. We are missing a key piece of information. Generally we will include projects in our database even if we do Primary Sources not have a complete set of data available. However, Architects some projects are omitted from our reports and analysis if they are missing key data that we use to query or Building Permit Data analyze the database. Certificates of Occupancy 3. We have questions about the validity of the data. Developers We make every effort to acquire data from multiple DC Office of Planning and primary sources to validate our information. Frequently, we encounter discrepancies in project DC Office of the Deputy Mayor for Planning & details. Whenever possible we try to reconcile those Economic Development discrepancies. Sometimes, we are unable, and we may DC Office of the Chief Financial Officer exclude the project because of an unresolved question General Contractors about the data. Project Managers 4. We may not know about it. Although our data collection methods are comprehensive, we may miss projects. We Secondary Sources discover new information almost every day, and we are Brokers constantly adding projects as we become aware of them. CoStar If you have information about a development that you would Business Improvement Districts like included in our database or if you have discovered errors in our data, please let us know. We rely on your feedback to Media & Newspapers keep our database accurate. Metropolitan Washington Council of Governments To add or update a record in our database, please contact: Neighborhood Newsletters Chad Shuskey Senior Vice President, Research & Visual Communications 202.661.8674 | cshuskey@wdcep.com Some of the geographic information shown in this book is based on data from the District of Columbia Geographical Information System (DC GIS). The District Government makes no warranty, express or implied, and disclaims all implied warranties of suitability of the DC GIS product for a particular purpose. Vincent C. Gray, Mayor86 © 2012 Washington, DC Economic Partnership
    • Development Overview AcknowledgementsThe Washington, DC Economic Partnership would like to thank the following organizations for their contributions to thisyear’s DC Development Report.A & R Development Corporation DC Public Library JDLand Suzane Reatig ArchitectureAdjaye Associates DC Water Jefferson Apartment Group Ten Square GroupAEDC DCRealEstate.com Jubilee Housing Tishman SpeyerAkridge Department of General Services Lance Bailey & Associates Inc Trammell Crow CompanyArchstone Donatelli Development Lee and Associates Triology NoMaAtelier Architects Douglas Development Level 2 Development UDR CorporationAvalon Bay Lincoln Property Company UIP Downtown BIDBalfour Beatty Construction Madison Investments Urban Atlantic DRI Partners, IncBELL Architects Madison Retail Urban Igloo Ellis Development GroupBlue Skye Development & Manna, Inc. UrbanTurfConstruction Encore Development Corporation Menkiti Group Washington Business JournalBonstra|Haresign Architects EYA Mill Creek Residential Trust Washington PostBoston Properties First Potomac Realty Trust MissionFirst Development WC SmithBowie Gridley Architects Forest City Washington MJ Tyler & Assoc. WDG ArchitectureBrennan Beer Gorman – BBG Forrester Construction Company Monument Realty, LLC Wiencek & AssociatesCapitol Riverfront BID Fort Lincoln New Town MRP Realty The Wilkes Company CorporationCarr Properties National Realty & Development WMATA Foxhall PartnersCassidy Turley Corporation WV Urban Developments LLC Friedman CapitalCBRE Neighborhood Development Zimmer Gunsul Frasca FRP Development Corp CompanyCity First Enterprises General Services Administration NoMa BIDCity Interests Gensler Office of the Deputy MayorClark Builders Group for Planning & Economic George Washington UniversityClark Realty Development Georgetown UniversityCohen Companies OTO Development GlobeSt.comCoStar Paradigm GSACSG Urban Partners, LLC PN Hoffman H&R RetailCushman & Wakefield Property Group Partners Hamel BuildersDantes Partners Quadrangle Development Hargreaves Associates CorporationDavis, Carter, Scott Hickok Cole Architects The Rappaport CompaniesDC Building Industry Association Hines Republic PropertiesDC Department of Consumer &Regulatory Affairs HITT Roadside DevelopmentDC GIS Horning Brothers SkanskaDC Housing Authority Innovative Development Skidmore Ownings & Merrill SolutionsDC Housing Enterprises SmithGroup Jair Lynch Development PartnersDC Housing Finance Agency Smoot Construction Company of James G. Davis Construction Washington DCDC Office of Planning Corporation Steuart Investment CompanyDC Office of the Chief The JBG CompaniesTechnology Officer Stonebridge Associates, Inc. DC Development Report 2012/2013 Edition 87
    • It is the mission of the Washington, DC EconomicPartnership, a 501(c)3 organization to promote businessopportunities throughout the District of Columbia and tocontribute to business retention and attraction activities.© 2012 Washington, DC Economic Partnership
    • DCDC Development Report 2012/2013 edition Development Report 2012/2013 edition Rendering: 655 New York Avenue, NW