Throughout 2022, the team at Willowbrook Valuation has examined the state of commercial real estate in a wide range of locations in the Mid-Atlantic region. We’ve explored areas like Baltimore’s Eastern County, Frederick, MD, Towson and several other hot spots so far. However, we have yet to turn our attention to the nation’s capital. We’re remedying that this month by taking a look at D.C.’s “East End” neighborhood.
Life in D.C.’s “East End”
Located just North of the United States Capitol building and Constitution Avenue, D.C.’s East End is a thriving area filled with restaurants, boutique hotels, parks, museums and more. Here, a new resident can find exciting apartment units and studios to rent near all of DC’s main attractions. Those used to a more luxurious urban lifestyle can also invest in one of the area’s many upscale options in Judiciary Square.
With a 95/100 Walk Score, most locals complete their errands on foot and get around town easily. Union Station, Chinatown and the Smithsonian Museums are all within a 10-20 minute walking distance. Additionally, surrounding areas near D.C.’s East End are easily accessible by car thanks to I-295, I-395, and the Baltimore Washington Parkway. Due to this neighborhood’s prime location, we expect to see continuous growth there for years to come.
The State of Commercial Real Estate in D.C.’s “East End”
An explosion of development occurred in D.C.’s East End in the 1990’s when the Capital One Arena was built. After that, the area gained attention, and an arts and entertainment district quickly emerged. One of the largest commercial retail centers nearby is Gallery Place, a busy spot located between the arena and the National Portrait Gallery, and well-served by the Metro. Other venues that anchor interest for investors are the Walter E. Washington Convention Center, DAR Constitution Hall, Ford’s Theatre, and the E Street Cinema. The area continues to solidify today, and we expect that trend to continue.
NoMA (“North of Massachusetts Avenue”), a neighboring community, is also one of the most active submarkets in the city. There are over 56,000 daytime employees and 29,000 residents in the area, making it a vibrant place to live and work. Additionally, H Street is undergoing a transformation into an arts district, and new theaters, jazz clubs and restaurants are sprouting up nearby. A few other landmarks in NoMA include the Washington Coliseum, The Farmers Market on 5th Street, and Union Station. East End residents can enjoy all these locations that are just a short distance away. Moreover, the East End’s value is further enhanced by the growth of its surrounding neighborhoods.
Just this month, a 13-acre property in the East End was sold to a local development team. The project is set to add over 1,000 affordable residential units to the area. As part of the undertaking, new offices, retail spaces and multifamily units will also be constructed. Minority-owned Standard Real Estate Investments is behind the project, which will provide economic opportunities for East End residents. This allows for greater diversity and growth for Black-led businesses and other minority-led developers. A strong commitment to ensuring equal access to affordable housing and business prospects will have a significant impact on D.C.’s East End.
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