Wed. May 18, 2011
WASHINGTON, DC –The 10-acre CityCenterDC mixed-use development now under construction at the Old Convention Center site will create a bustling new retail focal point for Downtown and DC. CityCenterDC will anchor the DowntownDC Shopping District and accommodate much of the $600 million in unmet shoppers’ goods retail demand, according to the 2011 edition of the DowntownDC Business Improvement District’s (BID) retail report released today.
The report, “DowntownDC Shopping District 2011,” shows the DowntownDC BID area is poised to become an exciting new regional shopping destination once Phase I of the CityCenterDC project is completed in 2013, adding 185,000 square feet (SF) of retail space. Another 140,000 SF of retail space will follow in the project’s second and third phases, which could be completed in 2014 and 2015, respectively. The timing could not be better. With projected strong growth in Downtown and near Downtown residents and employment, Downtown shoppers’ goods retail demand is projected to total $1 billion in 2015.
“This is a dramatic transformation,” said Richard H. Bradley, the DowntownDC BID executive director. “The DowntownDC BID area now has 600,000 square feet of shoppers’ goods retail. The shopping district could grow to more than one million square feet by 2015 because of CityCenterDC, 60,000 square feet of large retail space now available, and converting up to 100,000 square feet of non-shoppers’ goods retail or ground floor service uses to shoppers’ goods retail. The existing, available and planned retail spaces all bode well for DowntownDC to become a high-energy, regional shopping destination.”
Several elements are driving demand. The DowntownDC BID area has one of the nation’s hottest office markets, a wealthy and growing Downtown residential population, 138 destination restaurants, accessible transportation, a growing hotel and Convention Center visitor market and numerous cultural and entertainment venues.
The DowntownDC Shopping District stretches for more than 15 blocks, with the following boundaries: New York and Massachusetts Avenues on the north, 7th Street on the east, F Street on the south, and 13th Street on the west.
F Street, DC’s oldest retail corridor, showcases several national chains, including Banana Republic, Guess, Dress Barn, Nine West, and H&M, as well as Alden Shoes, Andrew’s Ties, Peruvian Connection and Mia Gemma (a local jeweler). The Anthropologie clothing chain will open this year at 950 F Street, where it will occupy 20,000 SF. The resurgence of retail evoke the street’s heyday, when it was home to the DC region’s most venerable department stores—Garfinckel’s, Woodward & Lothrop, and Hecht’s.
Seventh Street currently offers a vibrant mix of shopping, dining, cultural and entertainment options. Ann Taylor Loft; Bed, Bath & Beyond; and Urban Outfitters are among the national shoppers’ goods retailers that have established a presence there.
Macy’s anchors the western edge of the shopping district at 13th and G Streets, where additional nationally known retailers, including Johnston & Murphy and Ann Taylor, reside. As new retail makes it way along H Street from 7th to 11th Streets—the CityCenterDC site—the largest cluster of planned Downtown retail space will anchor a mix of national and local retailers, including specialty shops, restaurants, cafes and boutique grocery stores.
“The anticipated retail element will add to Downtown’s world-class status as the region’s premier urban gathering place, while positioning it as a major urban shopping district,” said Bradley. “This is what we have envisioned for years, and we’re delighted to see that the vision is fast becoming reality.”
The “DowntownDC Shopping District 2011” report, which provides extensive data on retail demand drivers and market statistics and projections, is available online at www.downtowndc.org/retail.