Neighborhood Profiles Reveal Insightful Look at 50 DC Neighborhoods
FOR IMMEDIATE RELEASE
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Neighborhood Profiles Reveal Insightful Look at 50 DC Neighborhood
February 19, 2014, Washington DC. The Washington DC Economic Partnership, (WDCEP) is pleased to announce that the 2014 Edition of the Neighborhood Profiles is now available. The report provides detailed data and market intelligence on 50 distinct neighborhoods in all four quadrants of the City. (Click here to read the report)
Since 2005, DC’s population has increased by more than 79,300 people. Fueling this growth has been young professionals who are attracted to DC’s revitalized neighborhoods, unique retail and restaurant offerings, strong economy and various transportation options. The WDCEP has been promoting neighborhood investment since 2001. The development pipeline today boasts 1.3 million square feet of new retail space, more than 10,000 new housing units, and close to 4 million square feet of commercial construction. Much of this development is occurring outside of the downtown core.
“We collect and aggregate data at the neighborhood level which enables investors and businesses to make informed decisions, and has dramatically enhanced interest of retailers and other uses,” said Chad Shuskey, SVP, Research & Visual Communications for WDCEP. 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,” said Shuskey.
The Neighborhood Profiles are used by investors and local community based organizations to market their neighborhoods. “We use the Neighborhood Profiles to capture a realistic understanding of the market in neighborhoods we are considering investing in,” said Scott Nordheimer, Senior Advisor, Urban Atlantic, and WDCEP Board Member. “The micro data and soft data available in this report have been instrumental in our ability to attract residents and businesses to projects such as Rhode Island Row.”
WDCEP published the first Neighborhood Profile report in 2001 to encourage investment throughout the City. Demographic information, Walk Scores, and other data referenced within a half-mile (or 10-minute walk) on the individual profiles are based on the half-mile radius highlighted on each neighborhood map. The number of neighborhoods has increased incrementally over the past decade as investment has spread out across the city.
Background: A 501(c)(3) organization, the Washington, DC Economic Partnership promotes business opportunities throughout the District and contributes to business retention and attraction activities. WDCEP is the first point of access for real estate and corporate executives seeking market and demographic information, information about the city and incentives, and real estate investment. WDCEP publishes several reports on the market including the DC Development Report and the Neighborhood Profiles. For more information visit www.wdcep.com
The purpose of the Neighborhood Profiles is to focus on the commercial corridors, business districts and the New Communities Initiative (NCI) in DC. In many cases, neighborhoods adjacent to these corridors are used to identify specific nodes along the corridors. The WDCEP works with the Office of Planning and Economic Development, the Office of Planning and the Department of Small & Local Business Development to determine which commercial corridors and nodes to profile. The WDCEP does not define boundaries of neighborhoods, but generally tries to identify points of interest within reasonable proximity of the center of commercial corridor.
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