14. Demographic Trends
SUMMARY 2010 2011 2016
Population 9,505 10,166 11,568
Households 4,328 4,642 5,384
Families 1,751 1,875 2,118
Average Household Size 2.14 2.14 2.11
Owner Occupied Housing Units 2,234 2,331 2,624
Renter Occupied Housing Units 2,094 2,310 2,761
Median Age 33.9 33.8 33.7
15. Demographic Trends
SUMMARY 2010 2011 2016
Population 9,505 10,166 11,568
Households 4,328 4,642 5,384
Younger people in smaller families
Families 1,751 1,875 2,118
filling more households,
Average Household Size 2.14 2.14 2.11
looking to buy, but primarily to rent.
Owner Occupied Housing Units 2,234 2,331 2,624
Renter Occupied Housing Units 2,094 2,310 2,761
Median Age 33.9 33.8 33.7
16. Psychdemographics
LIBERAL 33.6
YEARS OLD OLDER THAN 65
37.7 YEARS OLD 70% BLACKSINGLE PARENTS 12% HISPANIC
TECH-SAVY 80% BLACK LIVING ALONE MARRIED COUPLES LIVING ALONE
MARRIED COUPLES 35.5 YEARS OLD NATURAL/ORGANIC FOODS
FOOTBALL $60,191 AMI $43,548 AMI LIVING ALONE
PUBLIC TRANSPORTATION
LOW FIXED INCOME FAST FOOD WHITE
POLITCALLY ACTIVE $34,356 AMI
20% UNEMPLOYMENT NO CAR YOGA PASSES 18.6% UNEMPLOYMENT
32.5 YEARS OLD
RENTERS PUBLIC TRANSPORTATION $61,498 AMI
SINGLES SINGLES
IN-STORE SHOPPING SINGLE PARENT FAMILIES
WHITECOLLAR ROOMATES RENTERS NO CAR SOCIAL SECURITY INCOME
17. Psychdemographics
LIBERAL
TECH-SAVY LIVING ALONE
35.5 YEARS OLD NATURAL/ORGANIC FOODS
YOGA PASSES
RENTERS
SINGLES
ROOMATES
19. Residential Market
Row houses, older low-rise
Population increase, family size
decrease
Home prices rose 11.2% in April
1,648 units to deliver by 2015
360 H Street, 610 H Street
Walkable urban area that contains all
neighborhood amenities
MEDIAN RENT
Studio $ 1,520
One Bedroom $ 1,550
Two Bedroom $ 2,400
Three Bedroom $ 2,710
20. Office Market
11 million SF existing in Capitol
Hill/NoMa, 681,000 planned
Steady employment levels
H St Arts District 316 F ST NE
Neighborhood Services
12% overall vacancy
Gap: Smaller Class B
Average
Class Buildings Inventory Vacancy Pipeline
Rent
A 41 9,093,623 7.8% 681,085 $ 61.13
B 22 2,094,677 3.0% $ 47.75
C 16 474,238 30.0% $ 42.86
Constitution Square
Total 79 11,662,538 12.0% 681,085 $ 53.63
23. Program
Multifamily Retail Office
Total Res Units 146
Multifamily Units- Average Size 716
Multifamily Units NSF 104,592
Retails (NSF) 36382.5
Office NSF 78,698.90
Gross SF 244,238.5
Number of Buildings/Rentable Floors 1/7
Parking Spaces 153
N
Image courtesy of: Laura Doran
24. Program
Multifamily Retail Office
Total Res Units 146
Multifamily Units- Average Size 716
Multifamily Units NSF 104,592
Retails (NSF) 36382.5
Office NSF 78,698.90
Gross SF 244,238.5
Number of Buildings/Rentable Floors 1/7
Parking Spaces 153
N
Image courtesy of: Laura Doran
25. Program
Multifamily Retail Office
Total Res Units 146
Multifamily Units- Average Size 716
Multifamily Units NSF 104,592
Retails (NSF) 36382.5
Office NSF 78,698.90
Gross SF 244,238.5
Number of Buildings/Rentable Floors 1/7
Parking Spaces 153
N
Image courtesy of: Laura Doran
26. Program
Multifamily Retail Office
Total Res Units 146
Multifamily Units- Average Size 716
Multifamily Units NSF 104,592
Retails (NSF) 36382.5
Office NSF 78,698.90
Gross SF 244,238.5
Number of Buildings/Rentable Floors 1/7
Parking Spaces 153
N
Image courtesy of: Laura Doran
27. Program
Multifamily Retail Office
Total Res Units 146
Multifamily Units- Average Size 716
Multifamily Units NSF 104,592
Retails (NSF) 36382.5
Office NSF 78,698.90
Gross SF 244,238.5
Number of Buildings/Rentable Floors 1/7
Parking Spaces 153
N
Image courtesy of: Laura Doran
28. Program
Multifamily Retail Office
Total Res Units 146
Multifamily Units- Average Size 716
Multifamily Units NSF 104,592
Retails (NSF) 36382.5
Office NSF 78,698.90
Gross SF 244,238.5
Number of Buildings/Rentable Floors 1/7
Parking Spaces 153
N
Image courtesy of: Laura Doran
30. Program
A gym. Not another personal training
center or a boutique gym. Just a place
to workout. We need to have more
businesses that cater to neighborhood
needs rather than another restaurant
that is filled with people from
elsewhere in the city. There are plenty
of places to eat and get drunk already.
Tom Aloisia, Near NorthEast Resident
32. Architecture
Design and Sustainability
Brick traditions of Washington, DC
Light and modern European design
Overlapping volumes highlight uses
Street level access to first floor multifamily units
Local and sustainable building techniques
From predevelopment to operation and beyond
Mix of local and national tenants
Community Amenities: Gardens, ZipCars
Gallery space available for community
events and organizations
Multifamily units face the existing
residential with Green Space in between to
sponsor casual interactions
Image courtesy of: Laura Doran
33. Architecture
Design and Sustainability
Brick traditions of Washington, DC
Light and modern European design
Overlapping volumes highlight uses
Street level access to first floor multifamily units
Local and sustainable building techniques
From predevelopment to operation and beyond
Mix of local and national tenants
Community Amenities: Gardens, ZipCars
Gallery space available for community
events and organizations
Multifamily units face the existing
residential with Green Space in between to
sponsor casual interactions
Image courtesy of: Laura Doran
35. Uses Summary
Development Cost Summary
Project Cost Total per GSF
Land Cost $ 5,286,024 $ 72.00
Hard Costs $ 34,912,925 $ 142.95
Soft Costs $ 9,756,953 $ 39.95
Fees and Administration $ 3,117,990 $ 12.77
Net Development Costs
Financing- Interest Expenses, Fees $4,717,779 $19.32
Net Interest Cost $ 2,203,550 $ 9.02
Total Development Costs $59,995,222 $245.64
Land Cost
Hard Costs
Soft Costs
Fees and Administration
Financing- Interest
Expenses, Fees
Net Interest Cost
36. Sources Summary
Summary of Capitalization
Equity (35% of Total Cost) $ 9,760,289
at Land Closing $ 1,850,108
at Construction $ 7,910,180
Construction Loan $ 14,690,334
Loan to Cost Ratio 75%
Loan Interest (5%) $ (2,203,550.17)
Permanent Loan $38,996,894
Loan to Cost Ratio/Loan to Value 75%
Interest Rate 5%
Amortization 25 years
Equity
Loan
38. Retail
Tenant RPGSF TI Lease Term Lease Type
Bank of America $ 70 $ 45 10 NNN
FedEx $ 70 $ 45 10 NNN
Balducci's $ 55 $ 70 10 NNN
Big Bear $ 70 $ 65 5 NNN
True Value $ 55 $ 70 10 NNN
Gym $ 50 $ 40 10 NNN
Gallery $ 20 $ 15 5 NNN
Rental Income $ 1,296,073
PreLeasing Period 18 months
Percentage PreLeased 80%
Total PreLeased 29,106 SF
Stabilization 90% occupancy
Monthly Absorption- Post Delivery 3000 SF/mo
Mo. Until Stabilization 2 months
39. Retail
Stabilized Year One Net Operating Income
Leasing Stabilized
UPS $ 72,000 $ 73,440
Balducci's $ 270,000 $ 278,100
Bank of America $ 72,000 $ 74,160
True Value $ 270,000 $ 278,100
Big Bear $ 135,000 $ 139,050
Gym $ 416,250 $ 428,738
Gallery Space $ 90,000 $ 92,700
Gross Potential Income $ 1,325,250 $ 1,364,288
Vacancy/Collection Loss $ (66,263) $ (68,214)
Gross Revenue $ 1,258,988 $ 1,296,073
Tenant Improvements $ (1,627,500) $ -
Leasing Commission $ (420,750) $ -
Operating Expenses $ (251,798) $ (259,351)
OPEX Reimbursement $ 251,798 $ 259,351
Total Expenses $ (2,048,250) $ -
Net Operating Income $ (789,263) $ 1,296,073
40. Office
Tenant RPGSF TI Lease Term Lease Type
Major Tenant $ 35 $ 35 10 NNN
Minor Tenant $ 40 $ 35 5 NNN
Rental Income $ 3,130,937
PreLeasing Period 18 months
Percentage PreLeased 60%
Total PreLeased 47,219 SF
Stabilization 90% occupancy
Monthly Absorption- Post Delivery 3000 SF/mo
Mo. Until Stabilization 9 months
41. Office
Stabilized Year One Net Operating Income
Leasing Stabilized
Gross Potential Income $ 2,951,209 $ 1,461,104
Vacancy/Collection Loss $ (295,121) $ (313,094)
Gross Revenue $ 2,656,088 $ 2,817,844
Tenant Improvements $ (2,754,462) $ -
Leasing Commission $ (649,266) $ -
Operating Expenses $ (531,218) $ (563,569)
CAM $ (9,637) $ (10,223)
OPEX Reimbursement $ 531,218 $ 563,569
Total Expenses $ (3,413,364) $ (10,223)
Net Operating Income $ (757,276) $ 2,807,620
42. Multi-Family
Average Current
Description # of Units SF Rental Rate Rent PSF
Average Market Unit
Studio 82 585 $ 1,755 $ 3.00
One Bed 25 765 $ 2,142 $ 2.80
Two Bed 15 960 $ 2,496 $ 2.60
IZ Units
50% Affordable Units 12
80% Affordable Units 12
Total 146
Rental Income $ 2,853,835
Concessions (1 mo. Free rent) $ (246,020)
PreLeasing Period 2 months
Total PreLeased 16 units
Stabilization 90% occupancy
Monthly Absorption- Post Delivery 14 leases/mo.
Mo. Until Stabilization 8 Months
43. Multifamily
Stabilized Year One Net Operating Income
Leasing
Gross Potential Income $ 3,170,928
Vacancy/Collection Loss $ (317,093)
Gross Revenue $ 2,853,835
Concessions $ (246,020)
Operating Expenses $ (570,767)
Insurance $ (36,500)
Total Expenses $ (853,287)
Net Operating Income $ 2,000,548
44. Parking
Building Cost Stabilized Net Operating Income
Total Rent Per
Spots Rent Per Spot Year Per Spot
Parking Income $ 320,880
Rental Parking 137 $ 200 $ 328,080 $ 17,000.00 ZipCar $ (7,200)
Surface parking 13 $ - $ - $ -
ZipCar 3 $ (200) $ (7,200) $ 17,000.00
Gross Potential Income $ 313,680
Rental Income $ 320,880 Vacancy/Collection Loss $ (31,368)
Gross Revenue $ 282,312
Required Parking
Retail 48
Operating Expenses $ (56,462)
Office 44
Residential 61 Total Expenses $ (56,462)
Total 153 Net Operating Income $ 225,850
46. Exit Strategy
CAP RATE Analysis
Year 9 NOI
Cap Rate 5.75% 6.00% 6.25%
NOI $ 8,012,711 $ 8,012,711 $ 8,012,711
Value $ 139,351,489 $ 133,545,177 $ 128,203,370
48. Construction and Leasing Schedule
Pre-Construction
May 2012 – Sept 2013
Due Diligence Groundbreaking Retail PreLeasing
Planning Sitework Office PreLeasing
Zoning Building Construction Res PreLeasing
Land Acquisition Project Delivery Retail Leasing
Schematic Design Office Leasing
Design Development
Residential Leasing
Construction Documents
Branding
Permitting
Marketing
Bidding and Negotiation
Tenant Occupancy
49. Construction and Leasing Schedule
Pre-Construction Construction
May 2012 – Sept 2013 Oct 2013 – June 2015
Due Diligence Groundbreaking Retail PreLeasing
Planning Sitework Office PreLeasing
Zoning Building Construction Res PreLeasing
Land Acquisition Project Delivery Retail Leasing
Schematic Design Office Leasing
Design Development
Residential Leasing
Construction Documents
Branding
Permitting
Marketing
Bidding and Negotiation
Tenant Occupancy
50. Construction and Leasing Schedule
Pre-Construction Construction Leasing
May 2012 – Sept 2013 Oct 2013 – June 2015 Aug 2013– April 2016
Due Diligence Groundbreaking Retail PreLeasing
Planning Sitework Office PreLeasing
Zoning Building Construction Res PreLeasing
Land Acquisition Project Delivery Retail Leasing
Schematic Design Office Leasing
Design Development
Residential Leasing
Construction Documents
Branding
Permitting
Marketing
Bidding and Negotiation
Tenant Occupancy
52. Case Study
14th and U Street NW and H Street NE
They had tough turns after
the riots of the 1960s. Now,
they are both undergoing a
sort of renaissance. At the
end of it, they will emerge as
the city’s two great jewels.
Jose C. Sousa, Planning and Economic Development Office
53. 14th & U St. NW H St. Corridor
Case Study
14th and U Street NW and H Street NE
They had tough turns after
the riots of the 1960s. Now,
they are both undergoing a
sort of renaissance. At the
end of it, they will emerge as
the city’s two great jewels.
Jose C. Sousa, Planning and Economic Development Office
Mixed use project in the up and coming H Street Corridor**** square feetRetail, Office, ResidentialProvides needed neighborhood goods and services** IRR** Return on InvestmentHUB 625 is a mixed use project in the up and coming H Street Ne Corridor. Retail, office and residential uses are seamlessly integrated over Arevitalizedperforming arts scene,hipster bars, and a boom of high-endresidential units are reshaping H Street,NE quickly. The neighborhood’s populationis increasing and bringing with it new businessesand new consumers.H Street, NE’s one-and-a-half mile commercialcorridor is home to over 100 retail shops and acollection of new coffee houses, restaurants anddiverse retail opportunities catering to DC’syoung professionals and long-time residents.Construction and renovation of approximately1,000 residential units, building renovationsand storefront improvements—along withstreetscape improvements currently underway—Why H Street, NEare breathing energy and excitement into thisneighborhood bordered by Capitol Hill, StantonPark and Near Northeast.The Atlas Performing Arts Center, a restoredArt Deco landmark theater, and the H StreetPlayhouse have become regional destinationsfor patrons of the performing arts. The Rock andRoll Hotel and other H Street venues beckon thelive music crowd.More than 67,000 passengers and customers passthrough nearby Union Station on Metrorail everyday. Thousands of others arrive via Amtrak andcommuter rail, which are all within steps of atransformed H Street, NE.
Physical, visual, as well as emotional barriers that exist in the neighborhoods around the site define the primary trade area
Physical, visual, as well as emotional barriers that exist in the neighborhoods around the site define the primary trade area
Physical, visual, as well as emotional barriers that exist in the neighborhoods around the site define the primary trade area
Physical, visual, as well as emotional barriers that exist in the neighborhoods around the site define the primary trade area
Physical, visual, as well as emotional barriers that exist in the neighborhoods around the site define the primary trade area
Physical, visual, as well as emotional barriers that exist in the neighborhoods around the site define the primary trade area
Physical, visual, as well as emotional barriers that exist in the neighborhoods around the site define the primary trade area
ZoningFarAllowed uses
Trolley brought people and increased retail spending into the areaBecame a strong residential neighborhood with a prominent professional class, and large retail anchors: sears, people’s drug, giant, woolworthsAs the automobile became more prevalent, people started moving out of the area, and the riots of 1968 after MJK jr’s assassination devastated the area, and fell into disrepairBeginning in 2003, the DC govt began large scale funding efforts- great streets, h street main street, programs. Through transportation improvements, retail and development grants, large scale private investment, h street is on its way to regaining I‘ts past stature. It appears that the introduction of retailers and the trolley, which stimulated the area almost 100 years ago will once again revitalize the area. The District began redeveloping the H St Corridor nine years ago with visions of restoring the once bustling retail center to it’s former glory. The corridor was part of the inagural class of areas to undergo the “Greats Street Initiative,” a program that strives to “transform the H Street, NE Corridor into a thriving and inviting neighborhood center.” According to the city’s vistion, H Street will be full of “hip but has young families” and is “international, multilingual and diverse.” Under the H Street Great Streets and Streetcar project $65 million will be invested in new street-lights, curbs & sidewalks and trees & landscaping. In addition the H Street Main Street and DC Department of Small and Local Business Development is providing business assistance and commercial property improvement services. The nightlife of the area has been quick to develop, due to the large scale investments made by bar magnate Joe Englert. Initial investors in the H St Corridor weren’t subjected to the high standards present today, the planning, development and economics offices is looking for businesses that will fulfill the daily needs of the residents. Daily goods and service that will transition the area from a nightlife destination toa 24 hour active neighborhood.
The population of the Primary trade area is expected to increase by 1,402 persons over the next five years with an overall increase in households of 726. The number of families is expected to continue to rise, increasing by 243, but the average family size is going to decrease to 2.11 after leveling off at the current size of 2.14 persons.the age distribution of the primary trade area is highest within the 25-34 age group, 28% of the 2011 population. High concentrations are also found in the 35-44, 45-54 age groups (16.6% and 12.3%, respectively). This shows a high concentration of young and settled professionals in the area, with a low number of families. A second group of citizens that cannot be ignored is the number of senior citizens that are aging in place. The number of seniors (ages 55-74) is projected to increase from 2011 to 2016 by a total of <(978-1178)+(472-633)+(267-301)= number> persons.
The population of the Primary trade area is expected to increase by 1,402 persons over the next five years with an overall increase in households of 726. The number of families is expected to continue to rise, increasing by 243, but the average family size is going to decrease to 2.11 after leveling off at the current size of 2.14 persons.the age distribution of the primary trade area is highest within the 25-34 age group, 28% of the 2011 population. High concentrations are also found in the 35-44, 45-54 age groups (16.6% and 12.3%, respectively). This shows a high concentration of young and settled professionals in the area, with a low number of families. A second group of citizens that cannot be ignored is the number of senior citizens that are aging in place. The number of seniors (ages 55-74) is projected to increase from 2011 to 2016 by a total of <(978-1178)+(472-633)+(267-301)= number> persons.
Urban Rows: This group makes up almost half of the primary market area demogpraic profile. This gorup is shrinking due to urban renewal programs. Median age is 33.6 years, with hoseholds consisting of marrie d couples, single parent families and gradparents as caregivers within multi-generational families. 70% of this population is black, and 12% is hispanic. Median household income is $34, 356 and is the lowest among all sectors within the H St NE Primary market area. This popualation often holds jobs in whitecollar fields such as the health care industry, and local governement jobs. Unemployment is double the US rate, at 20%. Households are primarily row houses and single family dwelligns and 60% of these are owner occupied with the mortgage paid off generations ago. Trendsetters: A young, diverse and mobile group, trendsetters are comprised of singles livivng alone or with roomates. A younger group, with a median age of 35.5, this group is diverse with a high percentage of asian and hispanic persons. Medan household income is $61,498 and most have attended college, with one quarter holding a graduate degree. Over two-thirds fo this group are renters and about twenty percent don’t own a vehicle. This politically liberal group is a great consumer base to have. They shop in stores, stay up to date with technology, and are itnerested in maintaining their health; often purchasing natural/organic foods, vitamins, and health memberships or yoga passes. Social Security Set: With the majority of these citizens living alone, the majority live on a low fixed income but have accumulated wealth in their earlier years that they subsist on. 40% of houeholders are older than 65 years, and do not drive- therefore relying completely on public transportation. Limited and finintefianncialresourses determine the spending habits of this group. They shop is discount stores, bank in person, and rely on television and newspapers to stay current on sports and the news. City Strivers: This diverse group is comprised of a young (median age of 32.5 years),diverse (80% black), and varied family types (68 percent mix of married couples, single parents, and other families). A comparitively lower median income of $43,548 is often supplemented by Supplemental Security income or public assistance income. A high unemployment rate, of 18.6% is also present. Two-thirds of this population rent apartments in older, multi-tenant buildings. About 40% of these households do not own a car and rely soley on public transportation. This group prefers lower cost retail providers and often consumer fast food. Frequent watchers of athletic events, such as football and basketball, they also play tennis and basketball. Metropolitians: This group prefers to live in older city neighborhods. Evenly divided between singles who live alone or wiht others, and married couple families- the median age is 37.7 years, and the majority of the group is white. A solid labor force participation rate, a high secondary education completion rate, and a median hosuehold income of $60.191 are furhter descriptors of this group. This group pursues an active urbane lifestlye, travel frequently, and overall, are active members of their community. They join civic clubs, volunteer for environmental causes, and often work for a political party or candidate.
Urban Rows: This group makes up almost half of the primary market area demogpraic profile. This gorup is shrinking due to urban renewal programs. Median age is 33.6 years, with hoseholds consisting of marrie d couples, single parent families and gradparents as caregivers within multi-generational families. 70% of this population is black, and 12% is hispanic. Median household income is $34, 356 and is the lowest among all sectors within the H St NE Primary market area. This popualation often holds jobs in whitecollar fields such as the health care industry, and local governement jobs. Unemployment is double the US rate, at 20%. Households are primarily row houses and single family dwelligns and 60% of these are owner occupied with the mortgage paid off generations ago. Trendsetters: A young, diverse and mobile group, trendsetters are comprised of singles livivng alone or with roomates. A younger group, with a median age of 35.5, this group is diverse with a high percentage of asian and hispanic persons. Medan household income is $61,498 and most have attended college, with one quarter holding a graduate degree. Over two-thirds fo this group are renters and about twenty percent don’t own a vehicle. This politically liberal group is a great consumer base to have. They shop in stores, stay up to date with technology, and are itnerested in maintaining their health; often purchasing natural/organic foods, vitamins, and health memberships or yoga passes. Social Security Set: With the majority of these citizens living alone, the majority live on a low fixed income but have accumulated wealth in their earlier years that they subsist on. 40% of houeholders are older than 65 years, and do not drive- therefore relying completely on public transportation. Limited and finintefianncialresourses determine the spending habits of this group. They shop is discount stores, bank in person, and rely on television and newspapers to stay current on sports and the news. City Strivers: This diverse group is comprised of a young (median age of 32.5 years),diverse (80% black), and varied family types (68 percent mix of married couples, single parents, and other families). A comparitively lower median income of $43,548 is often supplemented by Supplemental Security income or public assistance income. A high unemployment rate, of 18.6% is also present. Two-thirds of this population rent apartments in older, multi-tenant buildings. About 40% of these households do not own a car and rely soley on public transportation. This group prefers lower cost retail providers and often consumer fast food. Frequent watchers of athletic events, such as football and basketball, they also play tennis and basketball. Metropolitians: This group prefers to live in older city neighborhods. Evenly divided between singles who live alone or wiht others, and married couple families- the median age is 37.7 years, and the majority of the group is white. A solid labor force participation rate, a high secondary education completion rate, and a median hosuehold income of $60.191 are furhter descriptors of this group. This group pursues an active urbane lifestlye, travel frequently, and overall, are active members of their community. They join civic clubs, volunteer for environmental causes, and often work for a political party or candidate.
Urban Rows: This group makes up almost half of the primary market area demogpraic profile. This gorup is shrinking due to urban renewal programs. Median age is 33.6 years, with hoseholds consisting of marrie d couples, single parent families and gradparents as caregivers within multi-generational families. 70% of this population is black, and 12% is hispanic. Median household income is $34, 356 and is the lowest among all sectors within the H St NE Primary market area. This popualation often holds jobs in whitecollar fields such as the health care industry, and local governement jobs. Unemployment is double the US rate, at 20%. Households are primarily row houses and single family dwelligns and 60% of these are owner occupied with the mortgage paid off generations ago. Trendsetters: A young, diverse and mobile group, trendsetters are comprised of singles livivng alone or with roomates. A younger group, with a median age of 35.5, this group is diverse with a high percentage of asian and hispanic persons. Medan household income is $61,498 and most have attended college, with one quarter holding a graduate degree. Over two-thirds fo this group are renters and about twenty percent don’t own a vehicle. This politically liberal group is a great consumer base to have. They shop in stores, stay up to date with technology, and are itnerested in maintaining their health; often purchasing natural/organic foods, vitamins, and health memberships or yoga passes. Social Security Set: With the majority of these citizens living alone, the majority live on a low fixed income but have accumulated wealth in their earlier years that they subsist on. 40% of houeholders are older than 65 years, and do not drive- therefore relying completely on public transportation. Limited and finintefianncialresourses determine the spending habits of this group. They shop is discount stores, bank in person, and rely on television and newspapers to stay current on sports and the news. City Strivers: This diverse group is comprised of a young (median age of 32.5 years),diverse (80% black), and varied family types (68 percent mix of married couples, single parents, and other families). A comparitively lower median income of $43,548 is often supplemented by Supplemental Security income or public assistance income. A high unemployment rate, of 18.6% is also present. Two-thirds of this population rent apartments in older, multi-tenant buildings. About 40% of these households do not own a car and rely soley on public transportation. This group prefers lower cost retail providers and often consumer fast food. Frequent watchers of athletic events, such as football and basketball, they also play tennis and basketball. Metropolitians: This group prefers to live in older city neighborhods. Evenly divided between singles who live alone or wiht others, and married couple families- the median age is 37.7 years, and the majority of the group is white. A solid labor force participation rate, a high secondary education completion rate, and a median hosuehold income of $60.191 are furhter descriptors of this group. This group pursues an active urbane lifestlye, travel frequently, and overall, are active members of their community. They join civic clubs, volunteer for environmental causes, and often work for a political party or candidate.
Centers that focus on everyday needs, such as groceries and other necessities, remain successful during economic downturns or slow growth periods. Future retail devlopment should focus on a mixed-use format involving office or residential within a waklable urban area or close to public transit. Overall, consumrs want to reduce their drivign time and rely on their immediate neighborhood for daily necessities. Existing retail, office, res statsThe reduction in supply of class a office space, along with the pipeline resupply of space means that there is a aother existing supply, so it should be differentiate itself form the market by offering a lower price. Class B offices priced competitively should do well. Vacant vs owner occ, vs renterThis presents the oppurtunity for a residential buildign directly on H Street that could appeal to incoming residents looking for a more direct connection to the action of H Street.
Within the past five years, a number of modern and promising restaurants have opened in the area, Sticky Rice, H Street Country Club, TruOrleans, and have introduced a new Thursday night through Sunday crowd. However, residents and businesses within the area still lack quality dailiyamenties such as a health club, laundromat, a shipping facility, and a full-service bank. Limited type of retailer which means that the type of retail occupant that can occupy the H Street Corridor is limited. There is a significant need for retail space of a higher class that can meet the needs of a larger retailer.
30% of americans are now living alone
The architecture of HUB625 will reference the longstanding brick traditions of washington dc with references to the light, airy and desireable modern style of european design. Evendent on the facade will be overlapping volutmes that highlight the multi-use premise of the development. The gym, located on the second level will have a floor-to-ceiling window that will protrude slightly from the rest of the facade, in order to maximize views and highlight this unique use. The residential units along the back of the lot will have street-level access as well as access through the parking garage.
The architecture of HUB625 will reference the longstanding brick traditions of washington dc with references to the light, airy and desireable modern style of european design. Evendent on the facade will be overlapping volutmes that highlight the multi-use premise of the development. The gym, located on the second level will have a floor-to-ceiling window that will protrude slightly from the rest of the facade, in order to maximize views and highlight this unique use. The residential units along the back of the lot will have street-level access as well as access through the parking garage.
The architecture of HUB625 will reference the longstanding brick traditions of washington dc with references to the light, airy and desireable modern style of european design. Evendent on the facade will be overlapping volutmes that highlight the multi-use premise of the development. The gym, located on the second level will have a floor-to-ceiling window that will protrude slightly from the rest of the facade, in order to maximize views and highlight this unique use. The residential units along the back of the lot will have street-level access as well as access through the parking garage.
360 H StreetEven with pipeline projects delivering 215 units in Jan 2013, with a conservative absorption estimate of ten units per month, all of these properties will be stabilized or occupied by September 2014, Pipeline ResidentialEvolution of H StreetTrolley schedule
I am here to say that it can be done. With all of the risks present in developing in the h street corridor, there lies even biggger potential. And besides that, it already has been done. A quick comparision of the redevelopment of 14th and u street nw, and the beginnings of development at h st ne shows a plethora of sikilarities. And where there are gaps, there are substitutions.
I am here to say that it can be done. With all of the risks present in developing in the h street corridor, there lies even biggger potential. And besides that, it already has been done. A quick comparision of the redevelopment of 14th and u street nw, and the beginnings of development at h st ne shows a plethora of sikilarities. And where there are gaps, there are substitutions.
Their interest in the corridor marks another escalation in H Street’s progression from a run-down corridor still scarred from the 1968 riots, to an edgy strip of local bars, to a sought-after residential market, even by developers looking region-wide.