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March 2011. Wards 7 & 8 1) Demographics 2) Markets Housing (single-family) Office Grocery Stores 3) Transportation Metrorail 4) Development 5) Development.

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Presentation on theme: "March 2011. Wards 7 & 8 1) Demographics 2) Markets Housing (single-family) Office Grocery Stores 3) Transportation Metrorail 4) Development 5) Development."— Presentation transcript:

1 March 2011

2 Wards 7 & 8 1) Demographics 2) Markets Housing (single-family) Office Grocery Stores 3) Transportation Metrorail 4) Development 5) Development Activity Search tool

3 March 2011 Wards 7 & 8

4 March 2011 Wards 7 & 8: Demographics

5 March 2011 Demographics Source: ESRI, 2010 Projections; Education based on population 25+ years of age Population Avg. HH Size HH Ownership Median HH Income Median HH Value Median Age Education High School + Bachelors Degree + 145, % $36,793 $249, % 16.7% Ward 7 + 8DCComparison 600, % $51,218 $387, % 49.0% 24.3% 0.39 (7.9%) ($14,425) ($137,810) (4.3) (6.8%) (32.3%)

6 March 2011 ACS ( ) DOES (2010) Ward 1 Ward 2 Ward 3 Ward 4 Ward 5 Ward 6 Ward 7 Ward 8 7.2% 3.9% 3.4% 7.6% 13.2% 8.4% 18.7% 17.4% 8.5% 4.9% 2.6% 8.1% 13.2% 9.7% 16.7% 24.6% Source: ACS (American Community Survey); DOES data from US Bureau of Labor Statistics (Annual Not Seasonally Adjusted) Unemployment by Ward

7 March 2011 Ward 7 & 8: Tapestry Segmentation

8 March 2011 Tapestry – City Strivers > 75% % 25% - 49% < 25% Households

9 March 2011 Tapestry Segmentation 45. City Strivers Demographic Residents of this young, relatively diverse urban market have a median age of 32.4 years and a 68 percent mix of family types, such as married couples, single parents, and other families. Nearly eight in ten residents are black.

10 March 2011 Tapestry Segmentation 45. City Strivers Socioeconomic The median household income is $41,696; the median net worth is $18,104. Some households receive Supplemental Security Income or public assistance income. Education attainment levels are below those of the U.S.; approximately 43 percent of residents aged 25 years and older have attended college. The 18 percent rate of unemployment is more than twice the national level. Approximately half of employed residents work in the service and health care industry sectors in the city. Twenty-two percent of the residents who are employed are government workers, employed primarily by the local government. Approximately one in five works in an office/administrative support position.

11 March 2011 Tapestry Segmentation 45. City Strivers Residential City Strivers residents live in densely populated, settled neighborhoods of major metropolitan areas, especially in New York City & Chicago. The median home value is $261,271. Nearly two-thirds of the households are located in the Northeast, with smaller concentrations in other regions of the United States. Approximately two-thirds of the households rent apartments in older, multiunit buildings built before Small buildings with two to four units are more common in these neighborhoods. Because of their urban surroundings, many residents rely on public transportation; two in five households do not own a vehicle.

12 March 2011 Tapestry Segmentation 45. City Strivers Preferences The rental homes in these neighborhoods are moderately equipped with the essentials. The high cost of living and rent lowers discretionary income. Many residents carry renters insurance. They shop at wholesale clubs for most of their groceries, baby products, and childrens essentials. They prefer accessible grocery stores such as Pathmark and Stop N Shop. A multitude of department and clothing stores is nearby. They eat fast-food at White Castle, Popeyes, Checkers, and Dunkin Donuts. Favorite stations include BET and cable movie channels such as Showtime, Cinemax, the Movie Channel, and Encore. They watch a lot of TV such as courtroom shows, talk shows, comedies, sci-fi, boxing, and prof. wrestling. They read music & bridal magazines and listen to urban, all- news, jazz, and variety radio. They attend prof. football & basketball games, go to the movies, take trips to Atlantic City, and visit theme parks such as Six Flags. They also play tennis and basketball.

13 March 2011 Wards 7 & 8: Markets Housing (single-family) Office Grocery Stores

14 March 2011 Single Family Home (median sales $) Source: NeighborhodInfoDC (via OTR) Median Sale Price (2009 $), thousands of $

15 March 2011 Single Family Home (# of sales) Source: NeighborhodInfoDC (via OTR) # of sales

16 March 2011 # BldgsRBA (mm)Vacancy* Ward 1 Ward 2 Ward 3 Ward 4 Ward 5 Ward 6 Ward 7 Ward , % 10.3% 9.0% 15.8% 8.1% 14.3% 12.7% 6.6% Source: CoStar 4Q 2010; *includes direct + sublet Private Office Market

17 March 2011 Two Challenges for Healthy Food in DC Access Food deserts, or areas with insufficient access to fresh food Source: DC Office of Planning More information on food deserts at initiatives/retail/grocery-stores initiatives/retail/grocery-stores

18 March 2011 ExistingUnder ConsPipeline* Ward 1 Ward 2 Ward 3 Ward 4 Ward 5 Ward 6 Ward 7 Ward Major Grocery Stores *potential net new grocery stores in the next 5 years Totals

19 March 2011 Major Grocery Stores I-495

20 March 2011 Capitol Gateway Marketplace

21 March 2011 Wards 7 & 8: Transportation

22 March 2011 Ward 7 & 8: Transportation *Fiscal Year 2010 (Annual Averages: July 09 - June 10); **avg. annual weekday volumes (2008) Metrorail Access Five DC Stations = 17,932 avg. weekday exits* Traffic Counts** I-295 = 105,100 Pennsylvania Avenue = 50,400 Suitland Parkway = 44,200 East Capitol Street = 30,600

23 March 2011 Metrorail Usage* *Fiscal Year 2010 (Annual Averages: July 09 - June 10); Weekday (M-F); Weekend (Sat + Sun) Avg. Weekday Exits Benning Road (7) Deanwood (7) Minnesota Avenue (7) Anacostia (8) Congress Heights (8) Ward 7 & 8 Total Capitol Heights (MD) Southern Avenue (MD) Totals 2,862 1,683 3,228 7,702 2,457 17,932 1,956 5,643 25,530 Avg. Weekend Exits Benning Road (7) Deanwood (7) Minnesota Avenue (7) Anacostia (8) Congress Heights (8) Ward 7 & 8 Total Capitol Heights (MD) Southern Avenue (MD) Totals 2,787 1,353 2,849 6,595 2,164 15,749 1,561 3,488 20,798

24 March 2011 Wards 7 & 8: Development

25 March 2011 Ward 7 & 8: Development Cycle (by total sq. ft.) 65% Completed (since 1/2001) Under Construction Pipeline 31% 5%

26 March 2011 Pipeline Under Construction Completed (since 1/2001) TOTAL # of Projects Total SF Education SF Office SF Retail SF Residential Units Est. Project Cost 68 29,422, ,290 11,002,678 1,717,382 12,992 $11.1 B 18 2,243, ,528 1,175,000 5, $1.6 B ,904, , , ,269 10,055 $2.4 B ,570,671 1,861,515 13,101,909 1,860,151 23,368 $15.1 B *Projects have a minimum valuation of $5 million dollars – Fall 2010 Ward 7 + 8: Development Summary

27 March 2011 No. of Projects Total SF Education SF Office SF Retail SF Residential Units Est. Project Cost Ward 7+8 Pipeline 68 29,442, ,290 11,002,678 1,717,382 12,992 $11.1 B 20% 22% 31% 23% 25% 23% 26% Development Pipeline % of DCs Pipeline

28 March 2011 No. of Projects Total SF Office SF Retail SF Residential Units Est. Project Cost Fall ,442,070 11,002,678 1,717,382 12,992 $11.1 B Ward 7+8 Development Pipeline Fall ,880,798 6,674, ,989 8,803 $3.9 B + / ,541,272 4,328, ,393 4,189 $7.2 B 39% 48% 65% 95% 48% 185%

29 March 2011 Office Development Pipeline > 15 mm 10 – 15 mm mm < 5 mm Office Sq. Ft. Ward 7 & 8: ~11 mm sq. ft.

30 March 2011 Residential Development Pipeline > 10,000 7,500 – 10,000 5,000 – 7,500 2,500 – 5,000 < 2,500 Residential Units ~ 12,922 housing units

31 March 2011 Retail Development Pipeline > 1,000 k 750 – 100 k 500 – 750 k 250 – 500 k < 250k Retail SF Ward 7 & 8: ~ 1.7 mm sq. ft.

32 March 2011 Development Pipeline Skyland

33 March 2011 Ward 7: Development Potential 1. Parkside 3. East River Park Fort Mahan Park 2. Minnesota & Benning 1 2 3

34 March 2011 MLK Jr. Ave Ward 8: Development Potential I-295 MLK Jr. Ave. 1 ~1 mile Curtis/Four Points ~acres 1. Poplar Point Barry Farm St. E – West St. E – East 173 Total ~ Sheridan Station 13


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