WASHINGTON, DC—The Mount Vernon Triangle district has seen continued growth in multifamily development as well as retail and office leasing activity in the past year.

Retail, in particular, is doing well, according to the Mount Vernon Triangle Community Improvement District's annual report: approximately 70,000 square feet of new retail and restaurant space has been signed in the area recently. Besides the surge in retail openings, there are a number of development projects underway on key sites in the submarket.

Residential developments now total 1,230 units that have been either been delivered or are under construction since January 2014. Major projects include: Lyric 440K apartments, Meridian II apartments, 450K apartments, 460 New York Avenue condominiums, 1031 4th Street apartments and 455 Eye Street apartments

"The Mount Vernon Triangle neighborhood continues to grow and thrive as retail, residents and tenants are attracted by the central location, an array of amenities, friendly, clean and safe streets, and high quality public space and architecture," said MVTCID President Claire Schaefer Oleksiak at the organization's annual meeting last week. "In the coming year, I look forward to working with the board and our stakeholders to welcome 10 new retail establishments, plan for enhanced park spaces, focus on neighborhood culture and arts, encourage strong economic development and continue to provide a clean and safe public realm of the highest quality."

Recent office lease deals in the district have included transactions with professional business organizations such as: the American Dental Education Association, the Physician Assistant Education Association and the District of Columbia Building Industry Association.

Instant Insights /

Mount Vernon Update: 1,000 Residential Units, 70,000-SF of Retail Added

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