Adams Morgan – The retail market is stable and retail vacancy is under 4% for the District.
Increasing Residential Density
- During 2013 -2015, over $1 billion of new residential units will be built and occupied within two to four blocks of the site. Developers are Peterson Cos, Perseus Realty, Adams Investment Group, Urban Investment Partners (UIP), Madison Investment, Kettler Cos, Somerset Development, Borger Development, and First Potomac.
- During 2013- 2015, estimated $4 billion of residential condo and apartment development occurring within 15 minute walking distance – Large residential high rise developments, small mid rise multifamily developments and renovations; and innumerable row houses redeveloped into condominium units.
- Population growth of 7% in Adams Morgan
- 115K AHI Income, 17,550 SQF New Retail Space
- Rental rate and home value increases of 10% in Adams Morgan
A New Hotel
- 2016 delivery of the 220 room boutique hotel, The Line, will open developed by New York City’s Sydell Group. 1780 Columbia Road, NW.
Limited Supply of Available Restaurant Sites and Liquor Licenses Changing
- Adams Morgan restaurant liquor licenses have been restricted in past years via a moratorium that caps the number of licenses available and serves as a barrier to competition. However, the ABC board recently lifted part of the liquor license moratorium.
- There are only 58 restaurant liquor licenses and over $200 million of unmet demand for food in the Adams Morgan moratorium zone.
- The average food away from home per household spent annually is $4,750.00. (CoStar Data).