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Spotlight on Southwest Waterfront, Washington, D.C.

Boasting some of the oldest buildings in the nation’s capital, Washington, D.C.’s dynamic Southwest Waterfront represents one of the most historically ingrained neighborhoods in the District. For instance, the Maine Avenue Fish Market traces its operations back to 1805, while the Thomas Law House was built in 1796 and still stands tall today. While history may have been the key trademark of this fascinating neighborhood thus far, nowadays its sights are firmly set on the future. With a skyline permeated by numerous 100-foot cranes, the Southwest Waterfront has quickly become an arena of great interest to local development enterprises. This is due in part to its prime and naturally endowed location. In that respect, the waterfront proper is witness to the confluence of the Potomac and Anacostia rivers along which we find East Potomac Park – a man-made island which adds to the local scenery and recreational opportunities as it hosts a municipal 18-hole golf course, the Jefferson Memorial, and historic Hains Point.

Today, we see the area’s real estate future unfold before our eyes with the recently completed Yards DC – a neighboring multi-use platform featuring hip restaurants, luxury residential, and retail as well as the local Nationals Park – home of the Nationals. These transformative forces are also reshaping the Southwest Waterfront in the form of The Wharf – a $2 billion multi-use project spanning practically every area of modern life with 200,000 square feet of retail, 435,000 square feet of offices, 648 apartments, 240 condominiums, 680 hotel rooms, and several cultural spaces, including a 6,500-capacity music venue. Recent announcements include the signing of several new retail and restaurant tenants, including La Vie – a French Mediterranean bistro by the group behind Provision No. 14, Fabio Trabocchi’s Del Mar, as well as Hank’s on the Water. Moreover, the complex will include a

CVS Pharmacy, a Cordial Craft Wine Beer and Spirits, and a café designed by Natalie Park. Needless to say, the 28 million annual visitors to the adjacent National Mall will be greeted by a brand-new inviting waterfront.

Key for this area’s revival is its privileged transit situation. The Southwest Waterfront is accessible via several Metrorail lines, including the Green, Blue, Orange, and Silver lines. In addition, it is intersected by I-395, which offers a convenient and direct route to Ronald Reagan Airport across the Potomac as well as three different routes to the Capital Beltway – two southbound and one northbound. Moreover, Union Station is less than 1.5 miles away from the Southwest Waterfront and offers local, regional, and national rail service via Amtrak and other train providers.

The featured properties in this month’s rent survey represent six communities in the Southwest Waterfront built between 1970 and 2015. Occupancy rates for the properties range from 96% to 100%. Average rental rates per square foot range from $2.22 to $3.76, with average unit sizes ranging from 616 to 1,088 square feet. Common area amenities include fitness centers, on-site laundry facilities, business centers, swimming pools, clubhouses, courtyards, playgrounds, and cookout areas. Unit amenities include walk-in closets, wall-to-wall carpeting, hardwood flooring, dishwashers, ceiling fans, private balconies/patios, washer/dryers, and stainless steel appliances. Residents pay application fees of $30 to $50 and post security deposits from $250 to one month’s rent. Pets are allowed in some surveyed communities with residents paying non-refundable pet deposits of $150 to $500 and pet rents of $40 to $50 per month.

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  • Terms of Use
  • Privacy Policy
  • License Information and Online Disclosures
  • Texas Real Estate Commission Information About Brokerage Services
  • Texas Real Estate Commission Consumer Protection Notice
  • Careers
© 2021 Greysteel. All Rights Reserved.