The economic recovery and the CityCenterDC project are expected to help Downtown retail move closer to creating a critical mass of shoppers’ goods retail, according to the Downtown BID’s newly published retail report. The report, Downtown DC Shopping District, notes that a walkable retail destination complemented by iconic attractions and buoyed by steady growth already exists. Once planned development projects are completed, however, the area—with more than 500,000 square feet (SF) of existing shoppers’ goods retail, 90,000 SF of available retail space and another 600,000 SF planned—will have a total of 1.2 million SF of shoppers’ goods retail space, boosting its capacity to compete with the region’s large shopping centers.
The 10-acre CityCenterDC mixed-use project will transform the site along H Street and New York Avenue from 9th to 11th Streets and nearby areas into a more pedestrian-friendly and retail rich environment by 1) reintroducing 10th and I Streets through the project as shopping-friendly boulevards with generous street parking and wide, landscaped sidewalks and 2) introducing two pedestrian alleyways modeled on classic European retail corridors and featuring a variety of specialty merchants and boutiques.
Click here for a copy of the report, which provides extensive data on retail demand drivers and market statistics and projections.