Washington, DC has remained on a growth trajectory in 2016 – it continues to attract new residents, investors and retailers.
DC’s population has increased by 11% since 2010 to more than 672,000 – its highest level since the 1970s. Residential growth is expected to continue with projections estimating DC’s population to reach more than 808,000 by 2030. Combined with DC’s daytime population in excess of one million people and 20 million annual visitors, developers and investors have been building new retail centers to meet the growing demand.
Positive population and investment trends are two of several factors that have led retailers to expand their presence, open flagship locations, or enter DC for the first time.
Since 2001, 7.0 million square feet of retail space have been built and another 1.3 million square feet are currently under construction. It is estimated that more than 60% of the retail space under construction will deliver in 2016.
Upcoming notable development projects with retail
This month’s map of the month features 20 notable retail projects currently under construction and in the pipeline in Washington, DC.