Trending Currents of the D.C. Capitol Riverfront

10/03/2018

Capitol Riverfront is unmatched as D.C.’s fastest growing neighborhood, located on 500 acres in Southeast just below I-395 and between Capitol Hill and the Anacostia River.  With major mixed-use developments delivering, pipeline construction that will double the housing inventory, and new trendy restaurants moving into the area, Capitol Riverfront is quickly becoming a capital destination.

According to the Capitol Riverfront BID 2017 Annual Report, over 8,000 residents called Capitol Riverfront home last year.  By 2020, that number is projected to double to more than 14,000.  Patrons can a catch a ballgame at nearby Nationals stadium or Audi field, cool off with beers and eclectic food options, or head out on the river for water sports and activities.   With easy metro access and typically lower rents than more established D.C. neighborhoods, it is no surprise that nearly half of the Capitol Riverfront residents are between the ages of 25-34.

“In Capitol Riverfront, the consumer is primarily young and affluent, but it’s also for the Capitol Hill crowd and tourists.  On the weekends, I see plenty of tourists coming to the waterpark, bikers and runners by the water, and a great daytime population during the week looking for fast-casual spots.  It’s really a seven-day market,” says Kyle Gamber, Senior Brokerage Representative at Rappaport who handles the retail leasing alongside Bill Dickinson, Mike Howard, and Alex Shiel for many Capitol Riverfront properties.

Whatever the future holds, Capitol Riverfront’s boom is not showing signs of a slowdown.  Rappaport represented multiple prominent deals in the area recently, including All-Purpose Pizzeria, Dacha Beer Garden, The Salt Line, and Wiseguy Pizza.  We also handle the retail leasing for three high-profile WC Smith properties in this thriving market.  Prominently located adjacent to Whole Foods, 150 I Street SE gives residents the convenience and neighborhood feel despite its urban surroundings.  The 204-room hotel at 140 L Street SE is centrally located by Washington Navy Yard, the Navy Yard Metro Station, and serves dense daytime demographics.  With 1,138 multifamily units and recognizable retailers such as Orangetheory Fitness next door, 1100 New Jersey Avenue SE sits on a trophy superblock for residential and retail offerings.

What brings these three properties, and Capitol Riverfront as a whole, together is its ability to truly embody the “live, work, play” lifestyle of Washingtonians.  If interested in being a part of this prospering market, please click the links to our properties’ pages.

 

Photo Credit: Sam Kittner