The first to formally break ground is Diamond Teague Park--named after a 19-year old member of the Earth Conservation Corps who was murdered in 2003. Located at First Street and Potomac Avenue SE, it is being funded with public money and revenue streams tied to adjacent projects. Diamond Teague will connect the National's ballpark to a pair of public piers and a 20-mile network of waterfront trails. A 250-foot pier will be built for water taxis and charter boats as well as slips for the ECC and the District's fire and life safety vessels.

Nearby development projects that are supporting its development include Florida Rock's one-million-square-foot mixed-used project that connects directly to the West of the park and JBG's US Department of Transportation headquarters building to the East.

The four river parks or water projects slotted for development in Capital Riverfront, Michael Stevens, executive director of the Capitol Riverfront BID tells GlobeSt.com, are seen as place-makers for this largely undeveloped enclave in the city. "They will build a sense of community and be the focus for community events," he says.

Still, though Capital Riverfront, like just about every other submarket in DC, has been affected by the economic downturn and credit market crunch. "A lot of projects here have been put on hold, waiting for financing to thaw," Stevens points out.Projects under construction include Forest City's Foundry Lofts; Velocity Condos by Cohen Cos.; 55 M Street Half St. by Monument Realty; 909 at Capitol Yards by JPI; and 1015 Half St. by Opus East.