Housing-News-Report-November-2016

HOUSINGNEWS REPORT

STATE SPOTLIGHT

VIO Condo Washington D.C. Waterfront

corridor, Fowler said some of the hottest communities are now along the shores of the Potomac River in the city’s southwest quadrant and along the Anacostia River near the Navy Yard. Fowler said the arrival of the new Washington Nationals baseball stadium in 2008 on the Anacostia waterfront near the Navy Yard was a transformative moment, spurring the development of new condo towers, apartment buildings, townhouses, hotels and retail along the long-neglected waterfront neighborhoods of Navy Yard, Buzzard Point and the nearby Southwest Waterfront. The $670 million taxpayer- funded ballpark, about two miles southwest of Capital Hill, has fueled a torrent of new development in the waterfront neighborhood within walking distance to the National Mall, the green space between the Capitol and the

Lincoln Memorial. Fowler said before the stadium was built, it was a seedy industrial neighborhood. Now, however, with Nationals Park the anchor for renewal, the Navy Yard area has morphed into a trendy riverfront showpiece for Washingtonians, with new housing, restaurants, hotels and apartment buildings popping up in the rejuvenated area. “There is a lot of new condo developments and a fair amount of retail near Nationals Park,” said Fowler, pointing to new developments along both the Anacostia and Potomac Rivers. A typical new condo tower populating Southwest Washington is 535 Water Street . Completed in October of this year, the five-story structure — housing 107

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