2022 Neighborhood Profiles Now Available!
2022 Neighborhood Profiles Now Available!
WDCEP Releases 21st Annual Update on Neighborhoods in the Nation’s Capital
September 19, 2022 (Washington, DC) – The Washington DC Economic Partnership (WDCEP) has released the latest edition of their signature publication, 2022 Neighborhood Profiles. The Neighborhood Profiles offers a concise overview, detailed demographic information, resources, maps, and latest updates for 56 neighborhoods throughout DC. The WDCEP has been promoting neighborhood investment since its inception and published the first Neighborhood Profile report in 2001 to encourage investment throughout the City.
The Report reveals that significant investments into the District of Columbia’s development, businesses, schools, and public spaces continue to drive an economic revival across the city’s diverse and unique neighborhoods “The District is considerably resilient evidenced by nine million SF of new development across 71 projects that delivered in 2021 with an estimated value of $4.1 billion.” said Keith Sellars, President & CEO, WDCEP.
According to Chad Shuskey, Senior Vice President, WDCEP “the information and data presented in this report show continuing signs of recovery from the pandemic and the District is poised to maintain its status as a vibrant business, shopping, dining, and cultural destination.” The WDCEP collects and aggregates data at the neighborhood level which enables investors and businesses to make informed decisions and has dramatically enhanced interest of retailers and other uses. Each profile includes demographic and market data, consumer expenditures, transit access and Walk Scores and insight on new development and trends. This is the only report that provides this combination of data at a neighborhood scale which are often determinants for investment. “The profile data has also been used to develop and analyze trends and investment patterns that help ensure sustainability within the neighborhoods and even to direct public resources,” said Shuskey.
The Neighborhood Profiles are used by investors and local community-based organizations to market their neighborhoods. The demographic information, mobility data, and recent business openings provided at the neighborhood level are instrumental for investors to attract residents and businesses.
Highlights from this year’s Profiles:
- Retail and restaurant sales totaled $15.5 billion in 2021, a 5.8% increase from 2020.
- DC had 18.8 million domestic visitors in 2021, a 44% increase from 2020 (the pandemic drove visitation down)
- 71 projects delivered in 2021 with an estimated value of $4.1 billion.
- From March to December 31, 2021, projects totaling nearly 15M square feet of space broke ground.
- The development pipeline as of 12/31/21 includes:
- 73,000+ residential units
- 4.6 million SF of retail space
- 30 million SF off office space
- 6,000+ hotel rooms
For more information on your favorite neighborhood or the city overall, download the 2022 Neighborhood Profiles.
This publication has evolved over the past twenty years into one of the leading economic development publications in the country. Several of the WDCEP publications, including the DC Development Report and DC Doing Business Guide have won awards, including most recently from IEDC at the 2021 Annual Conference.
The Washington DC Economic Partnership (WDCEP) is a non-profit, public-private organization whose core purpose is to actively position, promote, and support economic development and business opportunities in the District of Columbia.
WDCEP’s mission is to promote the District’s economic and business opportunities through supporting business retention and attraction activities. WDCEP is the central organization in the District that connects both the public and private sectors as well as neighborhood communities to local, national, and international audiences. WDCEP’s unique position is owed to its historical knowledge of the city’s business and economic climate; accurate analytics, data, and research; and access to community partners.
WDCEP works with its partners in the city to facilitate dynamic relationships with technology visionaries, artists, real estate entrepreneurs, nonprofits, and global enterprise leaders based on independent thinking and objective insights. We stay one step ahead of the vibrant and evolving economic landscape by monitoring the pulse of DC’s developers, startups, entrepreneurs, and large and small businesses.
# # #