What You Need to Know About the Development Boom Along the Metro’s Green Line
New condos, apartments, higher salaries, and more
For young professionals, the current corridor of choice is the Metro’s Green Line, based on a new report from research firm RCLCO that was commissioned by Capitol Riverfront Business Improvement District.
“GreenPrint of Growth 2.0” provides in-depth analysis of all growth within the past five years which occurred a quarter-mile of Metro’s Green Line stations.
Report highlights include statistics that the Green Line currently accounts for 48% of new households in Washington, D.C. under the age of 35 since 2010.
Additionally, for every four apartments newly built in D.C. since 2000, one has been in the Green Line Corridor.
Jointly, both the Navy Yard-Ballpark and the Waterfront stations have added more households than U Street, Shaw, Petworth, and Mt. Vernon stations combined.
Between the years 2010 and 2016, jobs increased 50% to reach 76,000 in total, with the household average income within the corridor increasing almost 50% since 2012, up to $121,600.
The report also states since 2010, high-wage jobs attributed the largest share, with 58% of job gains posted in D.C., and 63% of new jobs within the corridor.
The fiscal impact is slated to be expansive over the next 20 years, with estimates of $3.66 billion for residential growth and development within the corridor via tax revenues. The report additionally predicts approximately 22,500 permanent jobs and yearly construction jobs around 1,100.