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Mt Vernon Triangle Update

Posted by Capital Retail on May 14, 2012
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Last week, we attended a Mt Vernon Triangle retail summit and learned about the latest happenings in the neighborhood. The demographics have shifted with the influx of 4,000 new residential units. According to a few of the residential developers we spoke with about  75% are 1 bedroom units.  Occupants are described as young professionals under 40 with incomes over $70,000.  Parking will continue to be limited as the existing surface parking lots are sold off and developed.  New residential apartment buildings under construction have a .6 parking space per unit ratio making walking and metro more appealing.  To date most of the retail openings have been food related. There is a retail overlay from 7th to 4th streets along K which requires at least 50% of the ground floor be occupied by retail.  Expect to see more food uses  followed by neighborhood services. Informal polls among residents suggest there is an unmet demand for service retailers such as a pet shop. You can see more by watching this video.