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Capitol Riverfront Valued at $6 Billion

  • March 18th 2009

by Mark Wellborn

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Capitol Riverfront Valued at $6 Billion: Figure 1

The Capitol Riverfront neighborhood, aka Near Southeast, has seen its value jump from $4.5 billion to $6 billion in the past year, according to JDLand. That figure is based on the DC government’s aggregate tax assessment of all real estate and land in the area, which was released a few weeks ago.

The assessed area includes the blocks bounded by the SE Freeway, South Capitol Street, and the Anacostia River. Here is a map.

Here is JDLand’s analysis of the increase in value:

A chunk of that change is coming from the first official assessment of Nationals Park, valued at $999,982,800, a rise of nearly $650 million from the assessed value of just the land last year. Blocks that saw projects get completed in 2008 (70/100 I, 100 M and Onyx, and 55 M) got hefty bumps in their valuations, while other spots (20 M, the Capper blocks, USDOT, Maritime Plaza) saw their assessments go down.

To put the tremendous growth of this area in perspective, just eight years ago it was valued at only $221 million.

See our recent profile of the neighborhood and its real estate, Capitol Riverfront: If You Build It, Will They Come?

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/capitol_riverfront_valued_at_6_billion/680.

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