Capitol Riverfront Nears 50 Percent Build Out

• January 22nd 2015

by Lark Turner

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The Capitol Riverfront/Navy Yard neighborhood is nearly 50 percent built out and the residential inventory will double over the next three years, the neighborhood’s Business Improvement District announced at its annual meeting Thursday.

The BID — which coined the name Capitol Riverfront several years ago, though many residents refer to the southeast DC neighborhood as Navy Yard — called 2014 a “transformational year” for the neighborhood. Eight new restaurants popped up, bringing the total to 27, and a Harris Teeter and Vida Fitness opened at the Yards, part of 90,000 square feet of retail space constructed in the neighborhood over the last year.

There are now 4,700 residents in the area, which shows that the neighborhood population has risen by about 600 residents a year since 2009 when under 2,000 residents lived in the area and it felt like a ghost town at night. Here are a few more interesting stats from the annual report:

• There are 1,916 residential units under construction in the neighborhood.
• The Navy Yard/Ballpark Metro station averaged 9,500 riders a day in 2014.
• In 2014, there were 49,972 Bikeshare trips to the Capitol Riverfront — more than 3 times the 2011 count.

Former Office of Planning head Andrew Altman, who spoke at the organization’s annual meeting on Thursday, said he expected the coming DC United stadium at Buzzard Point would likely be a catalyst for more change in the neighborhood. The future of the stadium was briefly in doubt over the past year when a plan to fund the purchase using proceeds from selling U Street’s Reeves Center was spiked. An alternative funding plan was eventually agreed upon.

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This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/navy_yard_capitol_riverfront_nearly_50_percent_built_out/9436.