Our friends at the Capitol Riverfront BID have released an update to their 2012 GreenPrint of Growth. Produced by RCLCO, GreenPrint of Growth 2.0 examines the growth that has occurred within a quarter-mile of Green Line stations from Petworth to Navy Yard-Ballpark over the past 5 years.
Key Headlines from the report:
1 - The Green Line is the strongest growth corridor for young professionals, attracting 1 of every 2 new households under age 35 in the District since 2010. Moreover, the Green Line stations south of L’Enfant Plaza are attracting an equivalent share of the Green Line’s new young professional households as stations north of Gallery Place.
2 - One out of every 4 new apartments built in the District since 2000 has been built along the Green Line Corridor. During that time, Navy Yard-Ballpark has added more units than any other Green Line Corridor station, and more than twice as many as Shaw or U Street.
3 - Based on the average resale prices of condos built after 2000, the average income for new Green line households has increased by nearly 50% since 2012, to $121,600. For the Navy Yard-Ballpark station, new household incomes have increased over 80%, to $108,600.
4 - Stations along the Green Line Corridor are seeing new condo deliveries garner a premium of over 30% compared to resale pricing. Look for this trend to continue at the Navy Yard-Ballpark station, where 640 new condo units are planned to deliver by 2019.
5 - Green Line stations have captured 50% of the District’s retail development since 2010. The Navy Yard-Ballpark station area alone will add the equivalent of 1.5 CityCenters worth of retail by 2019.
6 - Between 2010 and 2016, the number of jobs located on the Green Line Corridor grew by 50% to 76,000 jobs, with high-wage sectors representing a majority of the growth. 7 Residential growth and development activity along the Green Line Corridor is anticipated to generate $3.66 billion in tax revenues to the District over the next 20 years.
The full report is available below or in PDF form from the Capitol Riverfront website