State of Georgetown 2014

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THE STATE
OF
GEORGETOWN
2014
2 THE STATE OF GEORGETOWN 2014 REPORT
This second annual report is a product of the staff of
the Georgetown Business Improvement District (BID);
the judgments herein do not necessarily reflect the
views of the BID’s Board of Directors or the BID
members they represent.
Data for The State of Georgetown 2014 covers the
period from January 2013 to December 2013, and
some preliminary figures for Q1 2014. It is intended to
support informed decisions by many stakeholders,
including BID members, brokers, retailers, restaurateurs,
cultural institutions, and DC government officials
and staff. The report is a compilation of relevant,
comparable statistics about core features of the
Georgetown BID economy: people, office activity, retail
activity, hospitality and tourism, and transportation.
about this report contents
2 The State of Georgetown
6 People
7 Employment
10 Residential Population
16 Commercial Buildings
17 Building Improvements
20 Unique Spaces
21 Canal and Waterfront District
24 Retail Market
32 Office Market
38 Hospitality and Visitors
39 Hotels
43 Visitor Amenities
44 Transportation
54 Notes
Copyright © 2014 by the Georgetown Business Improvement District
The Georgetown BID Area
Source: Georgetown BID and data.octo.dc.gov
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GEORGETOWN WATERFRONT PARK
C&O CANAL
K ST
POTOMAC RIVER
THE STATE OF GEORGETOWN 2014 REPORT 1
THE STATE OF
GEORGETOWN
THE STATE OF GEORGETOWN 2014 REPORT 3
Reviewing calendar year 2013, Georgetown’s success as a vibrant, urban, and economically
significant part of the District of Columbia is evident across a variety of measures and sectors:

• Office sector performance was strong, and the vacancy rate decreased to 9.1 percent, the
lowest figure in Georgetown since 2006 and 1.6 percentage points lower than the city-wide
average at year-end.

• Retailer interest remained extremely high, evidenced by a net gain of 7 new stores, a total
collection of over 330 retailers, few vacant spaces, and rising rents.

• The restaurant industry showed strength, posting a net gain of 9 full service restaurants to
a total collection of over 120 food service establishments.

• Georgetown hotel revenues grew to $65 million, an increase of 6 percent from 2012.

• The multi-family housing sector showed signs of heating up, with over 100 units of new-construction
condos and apartments breaking ground or in the pipeline.

We expect these trends to continue in 2014, but are cautious about long term forecasts given Georgetown’s transportation
challenges and changing dynamics in downtown and elsewhere in the region.
Georgetown remains an iconic neighborhood. The number of
retailers, restaurants, and entertainment venues is increasing.
Offices are leasing more space and vacancy rates have fallen for
the second year in a row. New mixed-use, multi-family residential
buildings are rising south of M Street. Elected officials, neighbors,
and businesses are working to implement a 15 year plan for the future of the
commercial district, bringing a Georgetown Metro station, streetcar, aerial gondola,
and restored C&O Canal a step closer to reality. And businesses in the BID area
support over 13,000 jobs in just 0.25 square miles. For these reasons, the state
of the Georgetown economy is strong.

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TRANSPORTATION
As noted in the 2013 State of Georgetown, accessibility
remains a priority for Georgetown. Increasing access to
Georgetown has the potential to unlock many upsides: more
convenient commutes for workers and residents, office rental
rates more comparable to Downtown properties, and more
foot traffic for retailers. The Georgetown community under-
stands these imperatives, identifying 43 transportation
related action items in the Georgetown 2028 Plan.*
Interventions that will take place over the next fifteen years
include organized advocacy for a Georgetown Metro station
and a Georgetown Streetcar connection, the transformation
of K Street into a multi-modal gateway, establishing
Georgetown as a bicycle-friendly destination, and better
roadway and parking management. The State of Georgetown
will continue to report relevant vehicular and pedestrian
metrics.
POPULATION PRESSURE
Last year’s report identified the importance of the 25 to 34
year old age cohort to Georgetown’s retail and transportation
landscape. Young professionals continued to drive population
growth in 2013, with DC adding more than 1,000 residents
per month. In addition to the retail opportunities population
growth affords, a growing population also places demands on
everything from city services to housing. Continued short-
ages in the housing (especially condo) supply are driving
both policy makers and developers to explore all options
for new residential space. This trend is apparent even in
Georgetown, where seven multi-family residential projects
were delivered, under construction, or announced in 2013.
Developers in Georgetown forecast multi-family residential
property values of $800 to $1,200 per square foot (SF). This
valuation is often higher than commercial property values,
creating a value gap that can make converting properties to
residential use an attractive possibility. Studying and manag-
ing this dynamic is an essential undertaking for residential
and commercial stakeholders in the coming years.
4 THE STATE OF GEORGETOWN 2014 REPORT
* Read the full plan at
www.georgetowndc.com/georgetown2028
Rendering: Georgetown BID/cox graae + spack Photo Credit: Georgetown BID
THE STATE OF GEORGETOWN 2014 REPORT 5
MANAGING FULL BUILD OUT
The Washington region is buzzing with new construction
and major renovations of commercial buildings. In 2013,
4.5 million SF of office space (about 1.6 times the total office
space of Georgetown) was delivered across the metro area.
1

An ever increasing share of this property is composed of
Class A and LEED certified spaces. The fact that Georgetown
continues to attract office tenants speaks to its many
amenities: proximity to both downtown DC and the Virginia
and Maryland suburbs, a dense live-work-play environment,
unique office buildings, and a vibrant professional community.
Still, the competition is increasing and ensuring that
Georgetown’s commercial spaces remain attractive will be
a key priority of the BID.
Similarly, between 2001 and 2013 developers delivered
5.4 million SF of retail space in DC, nearly 2.5 times the total
retail space in Georgetown.
2
More than 7 million additional
SF are in the pipeline. Retailers and consumers will have
more and more choice on where to locate and shop.
As Georgetown approaches the constraints of full build-out,
it will become essential to find innovative ways to balance a
variety of space and programming needs: the growing share
of office tenants that value efficient, high quality space; an
increasingly youthful workforce and residential population
that enjoys dense, urban amenities, and; retailers and
restaurateurs seeking new opportunities in Georgetown.
Experiments to find the highest and best use of spaces in
Georgetown’s Canal & Waterfront District will become
increasingly important. Continuing to retain businesses
that are attracted to Georgetown’s many small and unique
buildings is, too. And finding ways to induce investment
into aging properties is likely to be a determining factor in
Georgetown’s commercial performance in both the short
and medium terms.
UNLOCKING THE POTENTIAL OF
PUBLIC SPACE
By 2020, DC is projected to have in excess of 675,000
residents—an 18 percent increase from 2000.
3
The city is
becoming more densely populated and new housing is taking
the form of condos and apartments to fit the lifestyles of
young professional workers and empty-nesters alike. DC’s
tourism numbers are increasing as well, with 18.5 million
visitors in 2012, up three million from a decade earlier.
4

Smaller, denser living spaces and more tourism highlight the
need for public space and parks to serve as a “common
recreation room” for a diverse set of people. Evidence of this
increasing demand is seen, for example, in the DC portion of
the C&O Canal National Historical Park: between 2007 and
2013, recreational visits doubled from just over 700,000 to
more than 1.4 million visitors annually.
5
Though Georgetown is home to a wealth of parks and historic
sites, budget shortfalls have limited the National Park
Service’s ability to leverage the full potential of Georgetown’s
most esteemed public spaces. The FY2012 deferred mainte-
nance backlogs for the C&O Canal Park and Rock Creek Park
(both of which crisscross Georgetown) totaled $117 million
and $37 million. In contrast, the entire, nation-wide allocation
for the National Park Service’s deferred maintenance activities
was $77 million.
6

Consequently, important recreational resources like the C&O
Canal towpath are deteriorating. Resources to provide high
quality historical interpretation are also diminishing: there has
been no functioning canal boat in over two years, and visitor
center attendance has dropped an astounding 93 percent
since 2002.
7
Compounding the stress of an underfunded
National Park Service is general federal budget uncertainty.

During the 2013 federal government shutdown, for example,
the Washington Habour dock was closed to commercial
water taxis and tourist launches, and trash went uncollected
in the Waterfront Park. The vitality of the commercial district
will depend heavily on how the challenges affecting
Georgetown’s national parks are dealt with.
6 THE STATE OF GEORGETOWN 2014 REPORT
PEOPLE
THE STATE OF GEORGETOWN 2014 REPORT 7
EMPLOYMENT
Regional employment grew between 2010 and 2013, though
the pace of growth slowed in 2013 due to sequestration and
federal budget uncertainty: between 2012 and 2013, DC
netted only 1,500 jobs across all sectors. Job growth in the
hospitality/food-service (14,000 jobs added) and leisure
(2,000 jobs added) sectors was exceptionally strong across
DC and the region, emphasizing the growing competitive
pressures facing Georgetown as a visitor destination. While
professional and business service jobs decreased across the
region, DC continued to create jobs in this sector, helping
buoy demand for office space in the city despite a shrinking
federal government footprint.
8
Georgetown remains a vibrant, dense commercial district:
Georgetown businesses provide an estimated 13,089 jobs in
2013 within the BID area, which encompasses approximately
0.25 square miles.
9
Georgetown University and the
Georgetown University Hospital, situated adjacent to the
boundary of the BID, support in excess of 10,000 additional
jobs on 0.16 square miles of campus.
10
Between these two
areas, employment data suggests a density of about 60,000
jobs per square mile—similar to the densities observed in
areas near Dupont Circle, Shaw, and the Rosslyn-Ballston
corridor.

DENSITY OF JOBS IN WASHINGTON, DC
Source: U.S. Census Bureau (2013) OnTheMap Application, Longitudinal-Employer
BETHESDA
CHEVY CHASE
SILVER SPRING
Washington, DC
ARLINGTON
BAILEY’S CROSSROADS
5–7,975
BETHESDA
CHEVY CHASE
SILVER SPRING
Washington, DC
ARLINGTON
BAILEY’S CROSSROADS
7,976–31,887
31,888–71,741
BETHESDA
CHEVY CHASE
SILVER SPRING
Washington, DC
ARLINGTON
BAILEY’S CROSSROADS
71,742–127,535
127,536–199,272
GEORGETOWN Jobs/ Sq. Mile
JOBS IN GEORGETOWN
DC Employment (Thousands)
2010 2011 2012 2013

DC Total 712 726 732 745
of which
Downtown BID 179 182 182
Georgetown (Total) 29 28 23 28
Georgetown BID 11 11 12 13

Source: Bureau of Labor Statistics (2014), U.S. Census OnTheMap Application (2014),
DC Department of Emploment Services, Downtown BID (2014)
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13,000
JOBS ARE SUPPORTED
BY BID BUSINESSES
About 26 percent (3,400) of jobs
within the BID area fall within the
professional, scientific, and technical
services sector—supporting the
conventional wisdom that much of
Georgetown’s office market is com-
prised of architectural, design, and
legal services. The highly seasonal
accommodations and food services
sector likely fluctuates between 25 and
30 percent of total jobs, with 4,133 jobs
in Q3 2013—the late summer high
season for this sector. Georgetown’s
vibrant retail sector accounts for about
15 percent (1,900 jobs). The balance of
jobs is distributed across a wide variety
of sectors.
11
Source: Bureau of Labor Statistics (2014)
NET CHANGE IN PAYROLL JOBS, 2012-2013, BY SECTOR
LEISURE AND HOSPITALITY
FINANCIAL ACTIVITIES
STATE GOVERNMENT & PUBLIC TRANSPORTATION
RETAIL TRADE
TRANSPORTATION, WAREHOUSING & UTILITIES
EDUCATIONAL AND HEALTH SERVICES
OTHER SERVICES
PROFESSIONAL AND BUSINESS SERVICES
GOODS PRODUCING
WHOLESALE TRADE
INFORMATION
FEDERAL GOVERNMENT
-10.0 0.0
THOUSANDS OF JOBS
10.0 20.0
DC
REST OF REGION
8 THE STATE OF GEORGETOWN 2014 REPORT
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THE STATE OF GEORGETOWN 2014 REPORT 9
JOBS IN THE GEORGETOWN BID, BY SECTOR
Industry 2012 Q3 2013 Q3 Year-on-Year change
Accommodation and Food Services 3,722 4,133 11%
Professional, Scientific, and Technical Services 3,099 3,391 9%
Retail Trade 1,463 1,959 34%
Other Services (Except Government) 1,585 1,539 -3%
Administrative and Support and Waste Management and Remediation 165 447 171%
Real Estate and Rental and Leasing 360 413 15%
Finance and Insurance 156 312 100%
Wholesale Trade 238 211 -11%
Construction 279 209 -25%
Educational Services 225 119 -47%
Information 133 118 -11%
Unclassified 44 71 61%
Arts, Entertainment, and Recreation 55 56 2%
Health Care and Social Assistance 51 48 -6%
Manufacturing 31 42 35%
Management of Companies and Enterprises 30 21 -30%
Total 11,636 13,089 12%
Source: DC Department of Employment Services
Note: The BID area does not include employment data from Georgetown University or Georgetown Hospital
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GEORGETOWN BID AREA RESIDENTIAL DEVELOPMENT PIPELINE
Retail/
Name Address Type Units Residential SF Developer OfficeSF Delivery
Delivered
The Montrose 3050 R Street* Condo 15 33,000 Argos 0 Winter 2013
Under Construction
Adams Mason House 1072 Thomas Jefferson Apartment 5 3,812 MMG 2,933 Summer 2014
The Grace 3220 Grace Street Condo 7 5,950 Capital City RE 0 Summer 2014
1055 High 1055 Wisconsin Ave Condo 7 26,000 EastBanc 2,240 Fall 2014
Planned
Hillside 3601-3607 M Street Condo 28 70,000 EastBanc … …
Latham Micro Apartments 3000 M Street Apartment … … SB-Urban … …
West Heating Plant 1051 29th St NW Condo 70 … Levy Group** … …
Total >132 >138,762
Source: Georgetown BID
*2 blocks outside of BID boundary
**Levy Group/The Georgetown Co/Four Seasons
RESIDENTIAL POPULATION
Though the Georgetown population is generally stable,
modest population growth is projected in Georgetown over
the short and medium term as young families have children
and new multi-family housing developments are delivered.
2013 demonstrates that despite limited land parcels, housing
development in Georgetown is still enticing to developers,
with several projects being delivered, under construction, or
announced. The Montrose, just two blocks outside the BID
area boundary at R Street and 31st Street, delivered 15
condos (33,000 SF) in late 2013. Within the BID boundary,
three development sites are currently under construction.
These projects will deliver 14 condo units (32,000 SF), five
apartment units (3,800 SF), and retail/office space (5,000
SF) in 2014. Three larger residential, mixed-use development
projects were also announced: The Hillside (to replace the
Key Bridge Exxon); Latham Micro-apartments (to replace
the Latham Hotel); and the West Heating Plant (to convert
the defunct industrial site).
No delivery dates have been announced for residential
projects in the pipeline, but these projects are already
heightening the attention paid to multi-family construction
in Georgetown. Developers in Georgetown forecast multi-
family residential property values of $800 to $1,200 per
square foot (SF). This valuation is often higher than com-
mercial property values, creating a value gap that can
make converting properties to residential use an attractive
possibility: studying the potential impacts on the professional
office community, infrastructure, and city services will be
crucial to understanding the future of Georgetown’s
commercial district.
DC’s population explosion continued through 2013, netting
more than 1,000 residents each month and growing to a
total population of 646,000.
12
If recent trends hold, roughly
6,500 of the new residents in 2013 fell within the 25 to
34 year old “young professional” cohort in DC, which
accounted for 50 percent of growth in the 2010 to 2012 period.

10 THE STATE OF GEORGETOWN 2014 REPORT
THE STATE OF GEORGETOWN 2014 REPORT 11
1055 High, 1055 Wisconsin Ave, NW
The Grace, 3220 Grace St, NW
Adams Mason House, 1072 Thomas Jefferson St, NW
The Montrose, 3050 R St, NW
12 THE STATE OF GEORGETOWN 2014 REPORT
Conservative estimates of 2013 population growth suggest
3,700 additional (95,000 total) 25 to 34 year olds within a
3 mile radius of Wisconsin Avenue and M Street. Comparatively,
the 45 to 54 year old cohort grew by about 750 (32,000
total) over the same period. As in 2012, the average household
disposable income of the young professionals tends to be
lower than older cohorts, but the sheer size of the group
means that young professionals have great spending power.
In aggregate, households headed by 25 to 34 year olds
within three miles of Georgetown have an impressive $3.95
billion of disposable income.
13
Georgetown is one of the most affluent neighborhoods in
the region: 64 percent of households within a half-mile from
the intersection of Wisconsin Avenue and M Street earn at
least $100,000 per year; 33 percent of households earn at
least $200,000. The median home value in this area is about
$992,000. These figures hold strong even at a 3-mile radius,
with 68,000 households (43 percent) earning at least
$100,000.
14
2
0
0
0
2
0
1
0
2
0
1
3
2
0
1
8
15.5
14.5
13.5
12.5
GEORGETOWN POPULATION
Source: U.S. Census Bureau 2000 and 2010 Decenial Census; ESRI Business Analyst Online (2014)
15.1
14.5
T
H
O
U
S
A
N
D
S
THE STATE OF GEORGETOWN 2014 REPORT 13
2
0
0
0
2
0
1
0
2
0
1
3
2
0
1
8
2
0
2
0
680
640
600
560
DC POPULATION
Source: U.S. Census Bureau 2000 and 2010 Decenial Census; ESRI Business Analyst Online (2014)
DISPOSABLE INCOME BY AGE COHORTS, 2013
FROM WISCONSIN AVENUE AND M STREET
25-34 year olds 45-54 year olds
Year-on-Year % Year-on-Year %
1 mile radius 2013 Change 2013 Change
Households 6,243 9.2% 1,898 1.6%
Average Disposable Income $80,400 0.7% $121,263 0.4%
Aggregate Disposable Income $502 million 9.9% $230 million 1.9%
3 mile radius
Households 54,267 0.2% 20,942 3.3%
Average Disposable Income $72,815 11.0% $103,600 11.6%
Aggregate Disposable Income $4.0 billion 11.3% $2.2 B 15.3%

Source: ESRI Business Analyst Online (2014)

668
646
676
T
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S
14 THE STATE OF GEORGETOWN 2014 REPORT
1 mile
3 miles
.5 miles
BETHESDA
CHEVY CHASE
Washington, DC
Maryland
Virginia
ARLINGTON
BAILEY’S CROSSROADS
SILVER SPRING
PETWORTH
ROSSLYN
CLARENDON
BALLSTON
COLUMBIA
HEIGHTS
CHINATOWN DUPONT CIRCLE
CLEVELAND
PARK
DISTANCES FROM WISCONSIN AVENUE
AND M STREET
THE STATE OF GEORGETOWN 2014 REPORT 15
GEORGETOWN DEMOGRAPHIC PROFILE, 2013

FROM WISCONSIN AVENUE AND M STREET, NW DC
0-0.5 mi 0-1 mi 0-3 mi
Total Population 9,263 41,394 318,199 646,449
Households
Total Number 4,187 18,453 158,388 …
Average Household Size 1.95 1.66 1.85 2.17*
Owner Occupied 47% 36% 36% 41%*
Median Home Value $960,556 $695,398 $585,037 $441,574

Household Income
Median Household Income $126,961 $100,905 $84,478 $63,342
Average Household Income $180,575 $138,610 $121,221 $101,735
Share of households with $100,000 or more 64% 51% 43% 34%
Share of households with $200,000 or more 33% 20% 15% 11%

Source: ESRI Business Analyst Online (2014) and US Census Bureau (2014) *Imputed from 2012 data

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16 THE STATE OF GEORGETOWN 2014 REPORT
COMMERCIAL
BUILDINGS
THE STATE OF GEORGETOWN 2014 REPORT 17
As Georgetown approaches the constraints of full build-out, it
will become essential to find innovative ways to balance a variety
of space and programming needs: the growing share of office
tenants that value efficient, high quality space; an increasingly
youthful workforce and residential population that enjoys dense,
urban amenities, and; retailers and restaurateurs seeking new opportunities
in Georgetown.
Finding ways to induce investment in the renovation and renewal of buildings is
likely to be a determining factor in Georgetown’s office sector performance in both
the short and medium terms. Continuing to retain businesses that are attracted to
Georgetown’s many small and unique buildings is, too. And experiments to find
the highest and best use of spaces in the Canal & Waterfront District will become
increasingly important.
BUILDING IMPROVEMENTS
Georgetown will face increasing pressure to renew and
refurbish its commercial buildings. While the office market is
sluggish across the region, the market is tightest around high
quality properties. Between 2011 and 2013 there was net
absorption of 8.1 million SF of Class A office space across the
Washington Region. In the same period, there was negative
absorption of 8.1 million SF of Class B/C office space.
15

A similar pattern is observed in Georgetown. A flight
to quality is clearly underway—and it’s important for
Georgetown to consider how to stimulate the renovation of
its building stock. Interestingly, however, Class B/C rental
rates in Georgetown have been rising over the last three
years. This feature of the market, in the absence of other
incentives, will likely reduce owner motivation to renew
buildings in the short term.
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18 THE STATE OF GEORGETOWN 2014 REPORT
130
65
0
-65
-130
9,000
4,500
0
-4,500
-9,000
OFFICE NET ABSORPTION BY CLASS
OF SPACE, 2011-2013
Source: Costar (2014) and Delta Associates/Transwestern Trendlines 2014 (2014)
Note: In Georgetown, negative absorption of 63,000 SF B/C space was recorded
in 2011 when 1051 31
st
Street was closed as an office building. Today, the site is the
Capella Hotel and is not included in current office vacancy calculations.
GEORGETOWN
DC REGION
CLASS OF SPACE
A
B/C
CLASS OF SPACE
A
B/C
T
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S
A
N
D
S

O
F

S
F
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2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
$44
$40
$36
$32
BID AREA GROSS RENTAL RATE ($ PER SF),
BY CLASS OF SPACE
Source: CoStar (2014)
$39
$42
Another indicator of the state of Georgetown’s buildings is
the relative paucity of LEED certified spaces. Though LEED
certified space in the rest of DC is proliferating, there are only
five LEED certified spaces comprising 214,000 SF in
Georgetown. In comparison, 19.5 million SF were certified
across DC in 2013. Data from the US Green Building Council
suggests that Georgetown’s share of LEED space is declining
disproportionate to Georgetown’s share of total commercial
space.
121,000
121,000 SF OF CLASS A
OFFICE SPACE
ABSORBED BETWEEN
2011 AND 2013
THE STATE OF GEORGETOWN 2014 REPORT 19
M
I
L
L
I
O
N
S

O
F

S
F
2
0
0
3
2
0
0
4
2
0
0
5
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
100
75
50
25
0
CUMULATIVE DC LEED CERTIFICATIONS (SF)
Source: U.S. Green Building Council (2014) LEED Project Directory.
Note: Excludes LEED for Homes and LEED ND. Properties that are recertified at a different standard may be double counted.
89M
GEORGETOWN SHARE OF CUMULATIVE LEED CERTIFICATIONS
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
1.60%
1.20%
0.80%
0.40%
0.00%
Source: U.S. Green Building Council (2014) LEED Project Directory.
Note: Excludes LEED for Homes and LEED ND. Properties that are recertified at a different standard may be double counted.

0.24%
20 THE STATE OF GEORGETOWN 2014 REPORT
Rentable Building Area (Group)
Properties <25,000 SF
Properties ≥25,000 SF
Source: Costar (2014)
Source: CoStar (2013) and Georgetown BID
GEORGETOWN BID AREA
BUILDINGS, BY YEAR BUILT
32
PPTY
47
PPTY
6 PPTY
4 PPTY
55
PPTY
3 PPTY
51 PPTY
301
PPTY
4,500K
4,000K
3,500K
3,000K
2,500K
2,000K
1,500K
1,000K
500K
0K
U
N
A
V
A
I
L
A
B
L
E
1
8
T
H

C
E
N
T
U
R
Y
1
9
T
H

C
E
N
T
U
R
Y
1
9
0
0
-
1
9
4
9
1
9
5
0
-
1
9
9
9
R
E
N
T
A
B
L
E

B
U
I
L
D
I
N
G

A
R
E
A
2
0
0
0
-

P
R
E
S
E
N
T
UNIQUE SPACES
Georgetown’s varied architectural styles add to the neighbor-
hood’s hallmark historical feel. Over 60 commercial-use
buildings date from the late 18th and 19th centuries, ranging
from stately storefronts and market halls to industrial mills
and workshop buildings. The BID area also has over 450
properties smaller than 25,000 SF in rentable area. In
aggregate, however, these properties make up 2.2 million SF
in commercial space—often in buildings that employ multi-
use/multi-floor configurations combining traditional retail,
retail services, office space, and residential units.
16
Smaller
spaces have recently benefited Georgetown, as many national
and local retailers are now seeking compact, urban stores.
Start-up and tech sector firms are also attracted to these
spaces, which match both rental rate requirements and
design aesthetics found in few other places in the region.
While retailers, tech firms, and Georgetown’s design and
architecture community thrive in these many unique and
historic spaces, they still require modern technologies and
services. As DC’s broadband fiber network expands, ensuring
access in Georgetown is an important investment to help
attract and retain office tenants.
96
PPTY
28
PPTY
355
PPTY
7
PPTY
6
PPTY
GEORGETOWN BID COMMERCIAL
PROPERTIES, BY TYPE, SIZE AND
NUMBER OF PROPERTIES
Rentable Building Area (Copy)(Group)
Properties <25,000 SF
Properties ≥25,000 SF
3,500K
3,000K
2,500K
2,000K
1,500K
1,000K
500K
0K
R
E
N
T
A
B
L
E

B
U
I
L
D
I
N
G

A
R
E
A
O
F
F
I
C
E
R
E
T
A
I
L
H
O
S
P
I
T
A
L
I
T
Y
S
P
E
C
I
A
L
T
Y
I
N
D
U
S
T
R
I
A
L
1 PPTY
THE STATE OF GEORGETOWN 2014 REPORT 21
CANAL & WATERFRONT DISTRICT
The Georgetown 2028 Plan* recommends fostering new
retail, restaurant, and programming opportunities as well as
transportation/streetscape improvements in the Canal &
Waterfront District between the Potomac River and M Street.
A cornerstone action in this set of recommendations is the
conversion of ground floor office space into restaurant space,
which would simultaneously create new retail and restaurant
amenities for visitors and office workers as well as decrease
overall vacancy in the office market.
All parcels south of M Street in Georgetown are zoned W
(“waterfront”), permitting commercial and light industrial
uses as a matter of right. There are currently about 110
existing commercial properties south of M Street, 2.8 million
SF of which are classified as office—nearly 78 percent of the
BID’s total office space.
17
The five-year average vacancy rate
of office spaces in the Canal & Waterfront District is 12.8
percent, although vacancy has decreased to 9.5 percent in
recent periods. As of Q1 2014 twenty-one office properties
currently have 267,000 SF of vacant space.
18
Back of the
envelope calculation suggests that converting and leasing
only half of the ground floor spaces in these properties to
retail has the potential to absorb 67 percent of current
vacant space.
19

*Read the full plan at
www.georgetowndc.com/georgetown2028
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22 THE STATE OF GEORGETOWN 2014 REPORT
NOTABLE GEORGETOWN TECH OFFICES
Year Georgetown
Company Industry Founded Office Headquarters
Cogent Telecommunications 1999 1999 Georgetown
Parchment Education Technology 2003 2013 Arizona
EverFi Education Technology 2008 2014 Georgetown
Personal Data Security 2009 2011 Georgetown
Audax Health Health Care 2010 2010 Georgetown
Exhilarator Startup Excelerator 2011 2011 Georgetown
SmartThings Consumer Electronics 2012 2013 Georgetown
Source: Georgetown BID and company websites
Source: DC Office of the Chief Technology Officer (2014)
FIBER BROADBAND COVERAGE, WASHINGTON, DC
GEORGETOWN
FIBER BROADBAND
AVAILABLE
N ST
N ST
DUMBARTON ST
O ST
O ST
P ST
P ST
VOLTA ST
Q ST
CAMBRIDGE PL
DENT PL
R ST
Q ST
R ST
DENT PL
RESERVOIR RD
PROSPECT ST
M ST
M ST
CADY’S ALLEY
BLUES ALLEY
W
I
S
C
O
N
S
I
N

A
V
E
T
H
O
M
A
S

J
E
F
F
E
R
S
O
N

S
T
3
4
T
H

S
T
3
7
T
H

S
T
3
3
R
D

S
T
P
O
T
O
M
A
C

S
T
B
A
N
K

S
T
3
1
S
T

S
T
3
0
T
H

S
T
2
9
T
H

S
T
2
8
T
H

S
T
2
7
T
H

S
T
3
2
N
D

S
T
3
5
T
H

S
T
3
6
T
H

S
T
W
I
S
C
O
N
S
I
N

A
V
E
POTOMAC RIVER
R
O
C
K
C
R
E
E
K

P
A
R
K
W
A
Y
GEORGETOWN WATERFRONT PARK
WHITEHURST FWY
K ST
C&O CANAL
MAP OF GEORGETOWN
BID COMMERCIAL
PROPERTIES, BY TYPE
Rentable Building Area
25,000
100,000
200,000
300,000
400,000
482,223
Property Type
Retail
Hospitality
Office
Flex
Industrial
Land
Specialty
Source: Costar (2013)
Canal & Waterfront District
THE STATE OF GEORGETOWN 2014 REPORT 23
N ST
N ST
DUMBARTON ST
O ST
O ST
P ST
P ST
VOLTA ST
Q ST
CAMBRIDGE PL
DENT PL
R ST
Q ST
R ST
DENT PL
RESERVOIR RD
PROSPECT ST
M ST
M ST
CADY’S ALLEY
BLUES ALLEY
W
I
S
C
O
N
S
I
N

A
V
E
T
H
O
M
A
S

J
E
F
F
E
R
S
O
N

S
T
3
4
T
H

S
T
3
7
T
H

S
T
3
3
R
D

S
T
P
O
T
O
M
A
C

S
T
B
A
N
K

S
T
3
1
S
T

S
T
3
0
T
H

S
T
2
9
T
H

S
T
2
8
T
H

S
T
2
7
T
H

S
T
3
2
N
D

S
T
3
5
T
H

S
T
3
6
T
H

S
T
W
I
S
C
O
N
S
I
N

A
V
E
POTOMAC RIVER
R
O
C
K
C
R
E
E
K

P
A
R
K
W
A
Y
GEORGETOWN WATERFRONT PARK
WHITEHURST FWY
K ST
C&O CANAL
24 THE STATE OF GEORGETOWN 2014 REPORT
RETAIL MARKET
THE STATE OF GEORGETOWN 2014 REPORT 25
One of Georgetown’s defining features is its vibrant retail district.
With more than two miles of retail store frontage and over 450
stores, restaurants, spas, and salons, Georgetown remains a premier
shopping destination in the Washington region. Demand for
Georgetown retail space remains very high, as evidenced by the
40 retail trade and amenity businesses that opened in the BID area, a net gain of 18
in 2013. Rents are also rising at a rate of 6 percent per year, and can exceed $165 per SF
triple net for prime locations.
20
New retail stores included region-exclusive locations of Billy
Reid, Frye, Goorin Bros. Hat Shop, and Steven Alan. There
were new local/independent stores, too, including American
Holiday, Lovely Bride, and Sabun Home. And Cady’s Alley
successfully experimented with a pop-up brick and mortar
incubator for emerging internet retailers.
The Shops at Georgetown Park re-opened in 2013, rebranded
as “Georgetown Park.” At 256,000 SF, it was the largest retail
development delivery in DC of the year. As of Q1 2014 it is 94
percent leased: anchor tenants include J. Crew, Anthropologie,
H&M, TJMaxx/HomeGoods, and Pinstripes. DSW, and the DC
DMV also opened in early 2014.
GEORGETOWN BID AREA
RETAILERS BY TYPE, 2013
Type Number % of Total
Fashion and Apparel 118 26%
Full Service Restaurants 68 15%
Home Decor 60 13%
Spas and Salons 49 11%
Limited Service Eating Places 34 7%
Other Retail Goods 25 5%
Coffee, Cupcakes, and Gourmet 18 4%
Eye Glasses / Health 14 3%
Banks 11 2%
Specialty services 10 2%
Drycleaning and Laundry Services 10 2%
Sporting Goods and Hobbies 10 2%
Consignment and Used Goods 9 2%
Gyms / Yoga Studios 8 2%
Beer, Wine, and Liquor Stores 4 1%
Gasoline Stations 4 1%
Book Stores and News Dealers 2 0%
Lounges 2 0%
Movie Theaters 1 0%
Grand Total 457 100%

Source: Georgetown BID
RETAIL CHANGE SUMMARY, 2013
Openings Closings Net Gain (Loss)
Retail Trade 25 18 7
Full Service Restaurants 10 1 9
Limited Service Eating Places 3 2 1
Retail Services 1 (1)
Arts, Entertainment and Recreation 2 2
TOTAL 40 22 18

Source: Georgetown BID
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26 THE STATE OF GEORGETOWN 2014 REPORT
To estimate how well BID-area merchants serve neighborhood
needs, retail demand potential for several industries can be
estimated based on demographic characteristics of the
population residing one-half mile from the intersection of
Wisconsin Avenue and M Street. These figures can then be
compared to how many stores in the BID area fall within each
industry. Opportunities where spending levels are relatively
high compared to the concentration of BID retailers seem to
be present in a number of sectors, including garden supply,
hardware and building materials, florists, wine and spirits, and
full service grocery stores.
MARKET HIGH RENT ($/SF)
2012 2013
High rent High Rent % growth
($/psf/year) ($psf/year)
Downtown East $95 - $105 $100 - $110 12%
East End $100 $110 10%
Mt. Vernon Triangle $50 $55 10%
14th Street-Logan Circle $75 $90 20%
Penn Quarter-Chinatown $200 $215 8%
NoMa-H Street NE $55 $65 18%
Georgetown $155 $165 6%
Dupont Circle $110 $110 0%
Chevy Chase $100 $100 0%
Source: Cushman and Wakefield, “District Retail,” May 2014.
GEORGETOWN RESIDENT RETAIL POTENTIAL,
SELECT INDUSTRIES
Retail Demand Stores in
Potential ($) Georgetown
BID

Gardening Supplies 314,445 0
Used Merchandise Stores 452,489 9
Florists 2,123,899 2
Book and Music Stores 2,246,430 3
Specialty Food Stores 3,145,793 23
Beer, Wine & Liquor Stores 6,043,891 4
Hardware and Building Materials 5,541,105 2
Sporting Goods/Hobby/Musical Instr Stores 6,562,719 10
Furniture & Home Furnishings Stores 7,272,098 60
Limited-Service Eating Places 7,122,251 34
Full-Service Restaurants 19,521,633 68
Clothing & Clothing Accessories Stores 22,639,774 118
Gasoline Stations 24,639,839 4
Auto Dealers 34,840,699 0
Grocery Stores 43,196,184 0

Source: ESRI Business Analyst Online (2014) and Georgetown BID. Residents located 0.5 miles
from the intersection of Wisconsin Ave and M Street.
450+
450+ SHOPS, RESTAURANTS,
AND SALONS WITHIN
0.25 SQUARE MILES
THE STATE OF GEORGETOWN 2014 REPORT 27
GEORGETOWN BID AREA RETAIL OPENINGS AND CLOSING, 2013

2013 OPENINGS 2013 CLOSINGS
RETAIL TRADE Alex and Ani 2bebe
American Holiday Adidas
Artist’s Proof Aerosoles
Billy Reid Ann Sacks
Bloomers Bobbie Medlin
Bonobos Cannon’s Seafood Market
Britt Ryan Chic Boutique
Buffalo Exchange COOGI
Cady’s Alley Pop-up Bazaar J. Chocolatier
Capital Consignment Jennifer Convertibles
Coterie MOCA DC
Dr. Martens Monarc Antique Rug
EGG by Susan Lazar P&C Art
Frye Parish Gallery
GNC Riccardi
Goorin Bros. Hat Shop Sassanova
La Musa Streets of Georgetown
Lovely Bride Yves Delorme
Matt Cameron Tapestry
Reebok
Reddz Trading
Sabun Home
Steven Alan
TJ Maxx / Home Goods*
Tory Burch
FULL SERVICE RESTAURANTS AGB/Observatory (at the Graham) Third Edition
Capitol Prague
El Centro D.F.
Eno Wine Bar
Gypsy Sally’s (music venue and restaurant)
The Grill Room and Rye Bar (at the Capella)
Kintaro
Malmaison
Pho Viet and Grille
Rialto
LIMITED SERVICE EATING PLACE Good Stuff Eatery Redfire Grill Kabob
Olivia Macaron* Iceberry
ShopHouse
RETAIL SERVICES Salon Rafik

ARTS, ENTERTAINMENT Corepower Yoga
AND RECREATION Washington Sports Club*

*Georgetown Park

Source: Georgetown BID
28 THE STATE OF GEORGETOWN 2014 REPORT
2
0
0
1
2
0
0
2
2
0
0
3
2
0
0
4
2
0
0
5
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
2
0
1
4
2
0
1
5
6
4
2
0
DC RETAIL DELIVERIES, 2001-2015 AND PIPELINE
Source: Costar (2014) and WDCEP (2014) Development Report
2013 delivery figure does not include Georgetown Park

N
e
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t
e
r
m
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l
i
n
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M
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d
.

t
e
r
m
L
o
n
g

t
e
r
m
Retail Deliveries
Cumulative Deliveries
Total Georgetown Retail SF, as of 2013
M
I
L
L
I
O
N
S

O
F

S
F
5.4
Georgetown retailers will nevertheless face rapidly
increasing competition in the coming years. Between
2001 and 2013 developers delivered 5.4 million SF
of retail space in DC, nearly 2.5 times the total retail
space in Georgetown. More than 7 million additional
SF are in the pipeline.
21
Retailers and consumers will
have an unprecedented level of choice about where
to locate and shop.
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RETAIL LOCATIONS BY TYPE
N ST N ST
DUMBARTON ST
O ST
O ST
P ST
P ST
VOLTA ST
Q ST
CAMBRIDGE PL
DENT PL
R ST
Q ST
R ST
DENT PL
RESERVOIR RD
PROSPECT ST
M ST M ST
CADY’S ALLEY
WHITEHURST FWY
BLUES ALLEY
W
ISCO
NSIN AVE
TH
O
M
A
S JEFFERSO
N
ST
34TH
ST
37TH
ST
33RD
ST
PO
TO
M
A
C
ST
BA
N
K ST
31ST ST
30TH
ST
29TH
ST
28TH
ST
27TH
ST
32N
D ST
35TH
ST
36TH
ST
W
ISCO
NSIN AVE
N ST N ST
DUMBARTON ST
O ST
O ST
P ST
P ST
VOLTA ST
Q ST
CAMBRIDGE PL
DENT PL
R ST
Q ST
R ST
DENT PL
RESERVOIR RD
PROSPECT ST
M ST M ST
CADY’S ALLEY
WHITEHURST FWY
BLUES ALLEY
TH
O
M
A
S JEFFERSO
N
ST
34TH
ST
37TH
ST
33RD
ST
PO
TO
M
A
C
ST
BA
N
K ST
31ST ST
30TH
ST
29TH
ST
28TH
ST
27TH
ST
32N
D ST
35TH
ST
36TH
ST
W
ISCO
NSIN AVE
N ST N ST
DUMBARTON ST
O ST
O ST
P ST
P ST
VOLTA ST
Q ST
CAMBRIDGE PL
DENT PL
R ST
Q ST
R ST
DENT PL
RESERVOIR RD
PROSPECT ST
M ST M ST
CADY’S ALLEY
WHITEHURST FWY
BLUES ALLEY
TH
O
M
A
S JEFFERSO
N
ST
34TH
ST
37TH
ST
33RD
ST
PO
TO
M
A
C
ST
BA
N
K ST
31ST ST
30TH
ST
29TH
ST
28TH
ST
27TH
ST
32ND ST
35TH
ST
36TH
ST
W
ISCO
NSIN AVE
N ST N ST
DUMBARTON ST
O ST
O ST
P ST
P ST
VOLTA ST
Q ST
CAMBRIDGE PL
DENT PL
R ST
Q ST
R ST
DENT PL
RESERVOIR RD
PROSPECT ST
M ST M ST
CADY’S ALLEY
WHITEHURST FWY
BLUES ALLEY
TH
O
M
A
S JEFFERSO
N
ST
34TH
ST
37TH
ST
33RD
ST
PO
TO
M
A
C
ST
BA
N
K ST
31ST ST
30TH
ST
29TH
ST
28TH
ST
27TH
ST
32ND ST
35TH
ST
36TH
ST
W
ISCO
NSIN AVE
N ST N ST
DUMBARTON ST
O ST
O ST
P ST
P ST
VOLTA ST
Q ST
CAMBRIDGE PL
DENT PL
R ST
Q ST
R ST
DENT PL
RESERVOIR RD
PROSPECT ST
M ST M ST
CADY’S ALLEY
WHITEHURST FWY
BLUES ALLEY
TH
O
M
A
S JEFFERSO
N
ST
34TH
ST
37TH
ST
33RD
ST
PO
TO
M
A
C
ST
BA
N
K ST
31ST ST
30TH
ST
29TH
ST
28TH
ST
27TH
ST
32ND ST
35TH
ST
36TH
ST
W
ISCO
NSIN AVE
N ST N ST
DUMBARTON ST
O ST
O ST
P ST
P ST
VOLTA ST
Q ST
CAMBRIDGE PL
DENT PL
R ST
Q ST
R ST
DENT PL
RESERVOIR RD
PROSPECT ST
M ST M ST
CADY’S ALLEY
WHITEHURST FWY
BLUES ALLEY
TH
O
M
A
S JEFFERSO
N
ST
34TH
ST
37TH
ST
33RD
ST
PO
TO
M
A
C
ST
BA
N
K ST
31ST ST
30TH
ST
29TH
ST
28TH
ST
27TH
ST
32N
D ST
35TH
ST
36TH
ST
W
ISCO
NSIN AVE
Fashion Retail Salons & Spas Retail
Gourmet Retail Services Retail
Home Décor
National Retailers Local/Regional Retailers
Specialty Retail
Source: Georgetown BID
THE STATE OF GEORGETOWN 2014 REPORT 29
30 THE STATE OF GEORGETOWN 2014 REPORT
2
0
0
0
2
0
0
1
2
0
0
2
2
0
0
3
2
0
0
4
2
0
0
5
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
2
0
1
4
18
12
6
0
TOTAL STARS OF BID AREA RESTAURANTS,
WASHINGTONIAN MAGAZINE 100 VERY BEST LIST
Source: Washingtonian Magazine (2000-2014)
After a net loss of five full service restaurants in 2012, a net
gain of nine restaurants helped rebound restaurant numbers
in 2013. New establishments included El Centro D.F., Eno
Wine Bar, and Rialto. Though several restaurant spaces on
M Street converted to retail trade uses, restaurateurs began
building out new spaces south of M Street in 2013: The Grill
Room and Rye Bar (at the Capella Hotel), Malmaison, and
music venue/restaurant Gypsy Sally’s. Good Stuff Eatery,
Olivia Macaron, and ShopHouse were new limited-service
eateries in 2013.
There are 68 full service restaurants in the Georgetown BID
area as of Q1 2014. Bourbon Steak, 1789, and Unum garnered
coveted spots on the Washingtonian Magazine “100 Very Best
Restaurants” list in 2013; in 2014 Bourbon Steak and 1789
made this list again.
17
Since 2000 the number of restaurants
on this list (and their collective stars) has declined.
22
As new,
buzz-worthy concepts (e.g. Fiola Mare, which opened in early
2014 at Washington Harbour) arrive in Georgetown, however,
there may be some upward movement in this measure over
the next few years.
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i
t
:

S
a
m

K
i
t
t
n
e
r

f
o
r

G
e
o
r
g
e
t
o
w
n

B
I
D
Source: Cushman and Wakefield, “District Retail,” May 2014 and Georgetown BID
D
U
P
O
N
T
C
I
R
C
L
E
G
E
O
R
G
E
T
O
W
N
1
4
T
H

S
T
R
E
E
T

-
L
O
G
A
N

C
I
R
C
L
E
E
A
S
T

E
N
D

-

P
E
N
N

Q
U
A
R
T
E
R

-

C
H
I
N
A
T
O
W
N
O
T
H
E
R
D
O
W
N
T
O
W
N
E
A
S
T
2013 FOODSERVICE AND BEVERAGE SALES
(IN MILLIONS)
$61.6
$37.7
$68.5
$35.2
$33.2
THE STATE OF GEORGETOWN 2014 REPORT 31
N ST
N ST
DUMBARTON ST
O ST
O ST
P ST
P ST
VOLTA ST
Q ST
CAMBRIDGE PL
DENT PL
R
ST
Q ST
DENT PL
RESERVOIR RD
PROSPECT ST
M ST
M ST
CADY’S ALLEY
W
H
IT
E
H
U
R
S
T
F
W
Y
F
R
A
N
C
I
S

S
C
O
T
T

K
E
Y

B
R
I
D
G
E
BLUES ALLEY
T
H
O
M
A
S

J
E
F
F
E
R
S
O
N

S
T
3
4
T
H

S
T
3
3
R
D

S
T
P
O
T
O
M
A
C

S
T
B
A
N
K

S
T
3
1
S
T

S
T
3
0
T
H

S
T
2
9
T
H

S
T
2
8
T
H

S
T
2
7
T
H

S
T
3
2
N
D

S
T
3
5
T
H

S
T
W
I
S
C
O
N
S
I
N

A
V
E
C&O CANAL
K ST
PO
TO
M
A
C
RIV
ER
GEORGETOWN FULL
SERVICE RESTAURANTS
New for 2013/Q1 2014
Source: Georgetown BID
Fiola Mare
The Grill Room
& Rye Bar
Gypsy Sally’s
Malmaison
Kintaro
Capitol
Prague
Pinstripes
El Centro D.F.
AGB/Observatory
Eno Wine Bar
Rialto
I-Thai
Ri-Ra Irish Pub
Pho Viet
32 THE STATE OF GEORGETOWN 2014 REPORT
OFFICE MARKET
THE STATE OF GEORGETOWN 2014 REPORT 33
The Georgetown BID area contains about 2.8 million SF of office
space. The total vacancy rate at the end of 2012 was 9.1 percent
(269,000 SF), down 3 percentage points from last year. Much of
this decrease is accounted for by leasing activity at Waterfront
Center (1010 Wisconsin Avenue; moved in 69,000 SF), the Foundry
Building (1055 Thomas Jefferson Street; moved in 50,000 SF), and Jefferson Court
(1025 Thomas Jefferson Street; moved in 25,000 SF).
23
The net absorption of
88,000 square feet in 2013 accompanied a net increase of about 700 jobs in
office-using sectors.
The BID area’s vacancy rate was 1.6 percentage points lower
than the citywide figure at year’s end. This figure placed
the Georgetown BID area among leading performers in
2013: of the major downtown submarkets, the BID compared
favorably to the Central Business District (CBD), 10.4 percent
vacancy) and East End (9.0 percent vacancy) but was
outperformed by the West End (4.7 percent vacancy).
24
Despite stronger leasing performance, average rental
rates edged up only 1 percent year-on-year, suggesting
that observed vacancy rates are near the market-clearing
equilibrium in Georgetown. Average Georgetown gross
office rents remain among the lowest of the regional submar-
kets at $41.85 per SF.
25
In other words, at the end of 2013,
the average rent in Georgetown was 20.1 percent less than
in East End, where some of the region’s highest office rents
are found (this gap is slightly smaller than in 2012, when the
figure stood at 22.1 percent). Georgetown’s tenant mix for
office space is composed of non-profit, political communica-
tion and lobbying, architectural, design, and mid-size law
firms. Interviews with brokers suggest that firms that locate
in Georgetown tend to stay in Georgetown—often renewing
their leases or moving to another space in Georgetown.
P
h
o
t
o

C
r
e
d
i
t
:

S
a
m

K
i
t
t
n
e
r

f
o
r

G
e
o
r
g
e
t
o
w
n

B
I
D
P
h
o
t
o

C
r
e
d
i
t
:

S
a
m

K
i
t
t
n
e
r

f
o
r

G
e
o
r
g
e
t
o
w
n

B
I
D
34 THE STATE OF GEORGETOWN 2014 REPORT
With the renovation of Jefferson Court, the ratio of Class A
to Class B space in Georgetown improved slightly in 2013
to 1.5:1 (from 1:1 in 2012). This is an important indication that
Georgetown property owners are reacting to the general
“flight to quality” that has played out across DC: even as
office tenants demand less and less space, the performance
of Class A property remains strong, especially compared to
Class B and C spaces. In Georgetown, between 2011 and 2013
net absorption of Class A office space was 121,000 SF
compared to -124,000 SF of Class B/C space.
26
Since Georgetown is not eligible for federal Government
Services Administration (GSA) leases due to its distance
from Metro and other factors, it has been relatively insulated
from the impacts that are being felt in the CBD and East End
which, together, host about 50 million square feet of GSA
leasing. As GSA carries out a program of densification (using
fewer square feet for each employee) there will be a com-
mensurate reduction in the amount of space leased by GSA
over the coming years.
How this space is marketed for reabsorption may have a
significant impact on Georgetown. If CBD office space is
repurposed for residential or hotel uses, there may be
impacts on Georgetown’s hospitality and retail sectors.
If conversions do not occur, there will likely be downward
movement in both Downtown and Georgetown rents, and
more persistent vacancy as the market adjusts to less total
demand.
Falling office rents combined with rising residential values
might signal that some office buildings with convertible floor
plates will convert to residential in coming years. Studying the
impacts of such conversion is an emerging research priority
for the BID.
P
h
o
t
o

C
r
e
d
i
t
:

R
B

P
r
o
p
e
r
t
i
e
s
THE STATE OF GEORGETOWN 2014 REPORT 35
SUBMARKET TOTAL VACANCY
COMPARISON 2013
(AT YEAR-END)

DC - Citywide 10.7%

DC SUBMARKETS
Capitol Riverfront 16.5%
NOMA 16.4%
Southwest 11.0%
CBD 10.4%
Capitol Hill 9.4%
Georgetown BID 9.1%
East End 9.0%
Uptown 7.7%
Southeast 6.0%
West End 4.7%

MD/VA SUBMARKETS
Rosslyn-Ballston Corridor 17.9%
Silver Spring 10.7%
Bethesda-Chevy Chase 9.1%

Source: Costar (2014)
0K
B
B A C
C
500K 1,000K 1,500K 2,000K 2,500K 3,000K
RENTABLE BUILDING AREA (RBA)
PROPERTIES
≥ 25,000 SF
PROPERTIES
<25,000 SF
GEORGETOWN BID OFFICE RBA, BY CLASS
Source: Costar (2013) and Georgetown BID
SUBMARKET GROSS RENTAL
RATE ($ PER SF) 2013
(AT YEAR-END)

DC (Citywide) $48.97

DC SUBMARKETS
Capitol Hill $54.02
East End $51.77
West End $51.06
CBD $50.09
Southwest $49.70
NOMA $46.95
Capitol Riverfront $42.84
Georgetown BID $41.35
Uptown $38.13
Southeast $35.00

MD/VA SUBMARKETS
Rosslyn-Ballston Corridor $41.85
Bethesda-Chevy Chase $37.36
Silver Spring $27.33

Source: Costar (2014)
36 THE STATE OF GEORGETOWN 2014 REPORT
TOTAL OFFICE VACANCY RATES 2000-2013 (AT YEAR-END)
Source: Costar (2014)
20%
15%
10%
5%
0%
2
0
0
1
2
0
0
2
2
0
0
3
2
0
0
4
2
0
0
5
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
2
0
0
0
Rosslyn-Ballston Corridor
Bethesda/Chevy Chase
CBD
DC (Citywide)
Georgetown BID
10.7%
9.1%
AVERAGE OFFICE GROSS RENTAL RATE ($ PER SF),
2000-2013 (AT YEAR-END)
$55
$45
$35
$25
2
0
0
1
2
0
0
2
2
0
0
3
2
0
0
4
2
0
0
5
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
2
0
0
0
$41.35
$48.97
17%
IN GEORGETOWN,
THE AVERAGE OFFICE
RENT IS 17% LOWER
THAN IN THE CBD
Source: Costar (2013) and Georgetown BID
N ST
N ST
DUMBARTON ST
O ST
O ST
P ST
P ST
VOLTA ST
Q ST
CAMBRIDGE PL
DENT PL
R ST
Q ST
R ST
DENT PL
RESERVOIR RD
PROSPECT ST
M ST
M ST
CADY’S ALLEY
WHITEHURST FWY
BLUES ALLEY
T
H
O
M
A
S

J
E
F
F
E
R
S
O
N

S
T
3
4
T
H

S
T
3
7
T
H

S
T
3
3
R
D

S
T
P
O
T
O
M
A
C

S
T
B
A
N
K

S
T
3
1
S
T

S
T
3
0
T
H

S
T
2
9
T
H

S
T
2
8
T
H

S
T
2
7
T
H

S
T
3
2
N
D

S
T
3
5
T
H

S
T
3
6
T
H

S
T
W
I
S
C
O
N
S
I
N

A
V
E
POTOMAC RIVER
R
O
C
K
C
R
E
E
K

P
A
R
K
W
A
Y
C&O CANAL
GEORGETOWN WATERFRONT PARK
K ST
OFFICE PROPERTIES IN
THE GEORGETOWN BID
Rentable Building Area
25,000
100,000
200,000
300,000
Building Class
A
B
C
Source: Costar (2014)
THE STATE OF GEORGETOWN 2014 REPORT 37
38 THE STATE OF GEORGETOWN 2014 REPORT
HOSPITALITY
AND VISITORS
THE STATE OF GEORGETOWN 2014 REPORT 39
With the opening of the Capella hotel in 2013, nearly half of
Georgetown’s 727 hotel rooms fall within the luxury class category.
This figure means that Georgetown comprises 21 percent of
the luxury class rooms in DC.

Despite a dip in occupancy rates
and total supply of hotel rooms, 2013 total revenues grew almost
7 percent from 2012, generating $9.4 million in hotel sales taxes.
27

HOTELS
In addition to the Capella, the Graham Hotel also opened
in the former Monticello space. These two projects
brought 49 and 57 rooms online, respectively. In Q4 2013
developers announced, however, that the Latham Hotel
would likely be renovated into a mixed-use, micro-apart-
ment complex. With this announcement, Georgetown’s
hotel room supply (as well as its collection of hotel
operators) will stabilize at 727—down approximately
60 rooms from the 2009-2011 period.
Over the past five years, occupancy rates in Georgetown
have averaged 72 percent; this is on par with the DC
average and compares favorably to other large cities.
However, there is some evidence that Georgetown’s
current collection of hotels has a slightly different
dynamic than the collection present in the 2009-2011
period. As luxury class hotels have become predominate,
the average daily rate has risen from an average of $297
in the 2009-2011 period to $343 in the 2012-2013 period
(and an astounding $370 in 2013). Between the same
periods, occupancy dipped slightly from 73 percent to
70 percent.
28

Of course, occupancy also varies month-to-month. In
Georgetown, there are two distinct high seasons, one
peaking in April and one peaking in October. In these
months, occupancy regularly exceeds 80 percent,
compared to the December to January low season,
where occupancy hovers near 52 percent.
29

DATE
A
V
E
R
A
G
E

O
C
C
U
P
A
N
C
Y

%
J
A
N
U
A
R
Y
F
E
B
R
U
A
R
Y
M
A
R
C
H
A
P
R
I
L
M
A
Y
J
U
N
E
J
U
L
Y
A
U
G
U
S
T
S
E
P
T
E
M
B
E
R
O
C
T
O
B
E
R
N
O
V
E
M
B
E
R
D
E
C
E
M
B
E
R
80
60
40
20
0
5-YEAR AVERAGE HOTEL OCCUPANCY BY
MONTH, 2009-2013
Source: Smith Travel Research (2014)
A
N
N
U
A
L

A
V
E
R
A
G
E
P
h
o
t
o

C
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40 THE STATE OF GEORGETOWN 2014 REPORT
75%
70%
65%
60%
OCCUPANCY RATE
Source: Smith Travel Research (2014)
2
0
0
1
2
0
0
2
2
0
0
3
2
0
0
4
2
0
0
5
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
2
0
0
1
2
0
0
2
2
0
0
3
2
0
0
4
2
0
0
5
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
$400
$350
$300
$250
$200
AVERAGE DAILY RATE
$27
$225
$175
$125
REVENUE PER AVAILABLE ROOM
2
0
0
1
2
0
0
2
2
0
0
3
2
0
0
4
2
0
0
5
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
$64
$56
$48
$40
TOTAL REVENUE
2
0
0
1
2
0
0
2
2
0
0
3
2
0
0
4
2
0
0
5
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
M
I
L
L
I
O
N
S
$371
$64M
$251
67%
THE STATE OF GEORGETOWN 2014 REPORT 41
N ST
N ST
DUM
BARTON ST
O ST
O ST
P ST
P ST
VOLTA ST
Q ST
CAM
BRIDGE PL
DENT PL
R ST
Q ST
R ST
DENT PL
RESERVOIR RD
PROSPECT ST
M
ST
M
ST
CADY’S ALLEY
WHITEHURST FWY
BLUES ALLEY
T
H
O
M
A
S

J
E
F
F
E
R
S
O
N

S
T
3
4
T
H

S
T
3
7
T
H

S
T
3
3
R
D

S
T
P
O
T
O
M
A
C

S
T
B
A
N
K

S
T
3
1
S
T

S
T
3
0
T
H

S
T
2
9
T
H

S
T
2
8
T
H

S
T
2
7
T
H

S
T
3
2
N
D

S
T
3
5
T
H

S
T
3
6
T
H

S
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W
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S
C
O
N
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R
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P
A
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K
W
A
Y
GEORGETOWN WATERFRONT PARK
GEORGETOWN HOTELS
Rentable Building Area
25,000
100,000
200,000
300,000
400,000
Source: Costar (2013) and Georgetown BID
42 THE STATE OF GEORGETOWN 2014 REPORT
2
0
0
1
2
0
0
2
2
0
0
3
2
0
0
4
2
0
0
5
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
20
18
16
14
TOTAL VISITORS TO DC
Source: Destination DC (2013)
T
H
O
U
S
A
N
D
S
2
0
0
1
2
0
0
2
2
0
0
3
2
0
0
4
2
0
0
5
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
1,400
900
400
VISITORS TO DC REGION OF C&O CANAL
Source: National Park Service, IRMA Portal, Park Visitor Use Statistics (2014)

T
H
O
U
S
A
N
D
S
M
I
L
L
I
O
N
S
2
0
0
1
2
0
0
2
2
0
0
3
2
0
0
4
2
0
0
5
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
21
14
7
0
CANAL BOAT AND C&O VISITOR CENTER VISITS
Source: National Park Service, IRMA Portal, Park Visitor Use Statistics (2014)

CANAL BOAT
VISITOR CENTER
1.4M
18.5M
T
H
O
U
S
A
N
D
S
2
0
0
1
2
0
0
2
2
0
0
3
2
0
0
4
2
0
0
5
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
65
50
35
20
OLD STONE HOUSE VISITORS
Source: National Park Service, IRMA Portal, Park Visitor Use Statistics (2014)

67K
2K
THE STATE OF GEORGETOWN 2014 REPORT 43
2
0
0
1
2
0
0
2
2
0
0
3
2
0
0
4
2
0
0
5
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
2
0
1
2
14
12
10
8
6
4
2
0
NATIONAL PARK SERVICE DEFERRED
MAINTENANCE BACKLOG
Source: Coburn, Tom (2013). Parked! Oversight Report. Office of Senator Tom Coburn.

NATIONAL PARKS MAINTENANCE BACKLOG, FY2012

Maintenance Backlog Total Operating Budget
C&O Canal Park $116,727,982 $10,152,000
Rock Creek Park $37,018,292 $8,814,000
National Mall $530,000,000 $33,877,000

Source: Coburn, Tom (2013). Parked! Oversight Report. Office of Senator Tom Coburn.
B
I
L
L
I
O
N
S
VISITOR AMENITIES
Parks are important recreational and cultural amenities
of Georgetown. The Chesapeake and Ohio Canal National
Historical Park and Rock Creek Park converge in Georgetown.
Both parks are administered by the National Park Service, and
include management of Meigs Park, Francis Scott Key Park,
and the Old Stone House (all located on M Street) as well as
the Georgetown Waterfront Park. Adjacent to the waterfront,
Theodore Roosevelt Island is also managed by the National
Park Service. These parks have the potential to draw tens of
thousands of tourists to Georgetown’s commercial corridor.
And as DC becomes more densely populated, urban parks
will play an increasingly important role as “common recre-
ation rooms” for locals and visitors.
Though Georgetown is home to a wealth of parks and historic
sites, federal budget shortfalls have limited the National Park
Service’s ability to leverage the full potential of Georgetown’s
most esteemed public spaces. The deferred maintenance
backlogs for the C&O Canal Park and Rock Creek Park totaled
$117 million and $37 million, respectively, in FY2012. In
contrast, the entire, nation-wide allocation for the National
Park Service‘s construction program, which funds deferred
maintenance activities, was $77 million.
30

In 2013, limited federal funding allocations for Georgetown’s
parks continued. The C&O Visitor Center opened for just 26
days in 2013, and the number of visitors continued an 11 year
decline to 1,583—a 93 percent decrease from 2002 when the
visitor center saw over 22,000 people.
31
Equally disruptive
was the federal government shutdown, which closed parks
to the public and to basic maintenance operations. In
Georgetown, the shutdown meant that commercial traffic
(including water taxis and tourist launches) was prohibited
at Washington Habour, signs urged visitors away from the
C&O Canal, and over two tons of trash accumulated in the
NPS-managed Waterfront Park before the BID stepped in to
haul it away. The situation underscored Georgetown’s parks’
vulnerability to federal funding uncertainty and NPS
management policies.
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44 THE STATE OF GEORGETOWN 2014 REPORT
TRANSPORTATION
THE STATE OF GEORGETOWN 2014 REPORT 45
Increasing access to Georgetown has the potential to produce
many upsides: more convenient commutes for workers and
residents, office rental rates more comparable to Downtown
properties, and more foot traffic for retailers. The Georgetown
community understands these imperatives, identifying 43
transportation related action items in the Georgetown 2028 Plan. Interventions that
will take place over the next 15 years include organized advocacy for a Georgetown
Metro station and a Georgetown Streetcar connection, the transformation of K Street
into a multi-modal gateway, establishing Georgetown as a bicycle friendly destination,
and better roadway and parking management.
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MID-DAY TRAVEL TIMES FROM GEORGETOWN
VS. FARRAGUT SQUARE
Minutes travel from:
Destination Georgetown Farragut Square
Dupont Circle Car 6 5
Bike 10 7
Rosslyn Car 8 9
Bike 9 16
US Capitol Car 16 16
Bike 34 18
Tysons Corner Car 22 23
Bike ... ...
Bethesda Car 22 35
Bike 45 47
Union Station Car 27 17
Bike 31 18

Source: Georgetown BID and Capital Bikeshare
Bikeshare is one of many modes of transport that provide
convenient access to and from Georgetown. During the
business day, easy access to the GW Parkway, Rock Creek
Parkway, Route 66, and Interstate 395 make traveling by
car equally convenient despite the congestion that limits
traffic flow on Georgetown’s thoroughfares at peak hours.
For example, travel times from Georgetown via car to
Capitol Hill, the SW Waterfront/Ballpark, Arlington County,
Montgomery County and Fairfax County are the same or
faster compared to trips starting in the CBD.
46 THE STATE OF GEORGETOWN 2014 REPORT
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Without a Georgetown Metrorail stop, bus service is a critical
transit connection to Georgetown. On average, around 3,000
people alight from (and a similar number board) WMATA
Metrobuses at stops within the BID area on weekdays.
According to official WMATA data, Metrobus usage slackened
in Georgetown at year-end, with 10 percent fewer passengers
alighting compared to 2012; however, WMATA has cautioned
that their new automatic counting system was being cali-
brated in 2012/13. The most popular Georgetown Metrobus
route is the 38B, which runs between Ballston, VA and
Farragut Square, underscoring demand for a Metro rail
connection between Rosslyn and downtown via Georgetown.
33
METROBUS PASSENGERS IN GEORGETOWN, WEEKDAY AVERAGE

2013 2012
ROUTE JAN - MAR APR - JUN JULY - SEPT OCT - DEC OCT-DEC
38B Alight 787 699 740 675 699
38B Board 764 883 1,005 810 949
31 Alight 435 522 524 605 542
31 Board 488 535 520 540 639
32 Alight 526 583 646 607 586
32 Board 508 580 592 570 630
36 Alight 392 462 505 527 482
36 Board 403 430 453 448 471
G2 Alight 226 241 218 221 401
G2 Board 230 228 211 218 234
D6 Alight 169 232 211 182 174
D6 Board 128 159 166 176 144
D2 Alight 164 187 167 167 174
D2 Board 119 116 117 127 119
D5 Alight 32 27 23 22 35
D5 Board 42 33 47 38 38
D1 Alight 14 17 19 18 18
D1 Board 16 15 15 12 16

Grand Total Alight 2,745 2,970 3,053 3,024 3,377
Grand Total Board 2,698 2,979 3,126 2,939 3,240
3,000
3,000 PEOPLE ARRIVE
IN GEORGETOWN
VIA METROBUS EACH
WEEKDAY
THE STATE OF GEORGETOWN 2014 REPORT 47
GEORGETOWN BIKESHARE STATIONS, 2012-13
Total Trips
Bikeshare Station 2012 2013
37th & O St NW / Georgetown University 25,249 26,788
C & O Canal & Wisconsin Ave NW 44,078 40,691
Georgetown Harbor / 30th St NW 31,041 36,481
M St & Pennsylvania Ave NW 37,812 50,968
Wisconsin Ave & O St NW* -- 18,279
Total 138,180 173,207
*Installed April 25, 2013

Source: Capital Bikeshare Trip History Data (2014) and Georgetown BID
S
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d
a
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s
d
a
y
W
e
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s
d
a
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s
d
a
y
F
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i
d
a
y
S
a
t
u
r
d
a
y
20,000
15,000
10,000
5,000
0
BIKESHARE TRIPS TO GEORGETOWN, 2013
Source: Capital Bikeshare Trip History Data (2014) and Georgetown BID
Capital Bikeshare is rapidly growing as an important transpor-
tation alternative for Georgetown for commuters (especially
Monday through Friday) and tourists (especially on the
weekends). Between 2012 and 2013, trips ending in
Georgetown grew from 76,989 to 95,516 (24 percent) and
trips originating in Georgetown grew from 61,191 to 77,691
(27 percent). Growth occurred at most existing stations
and also from the immediate and strong adoption of the
Wisconsin Ave and O Street station, installed in April 2013.
This station accounted for an incremental increase of 13,000-
18,000 new trips to and from Georgetown, providing strong
evidence that there is latent demand in Georgetown for
additional Bikeshare stations.
32

48 THE STATE OF GEORGETOWN 2014 REPORT
Bikeshare Member
Casual/Tourist
173,000
173,000 BIKESHARE TRIPS
TO AND FROM GEORGETOWN
THE STATE OF GEORGETOWN 2014 REPORT 49
BIKESHARE TRIPS TO/FROM GEORGETOWN, 2013
End Station
Start Station Georgetown Elsewhere Total
Georgetown 10,829 66,862 77,691
Elsewhere 84,687
Total 95,516 173,207
Source: Capital Bikeshare Trip History Data (2014) and Georgetown BID
Note: Bikeshare reported 2.6 million trips system wide in 2013.
TOP 10 BIKESHARE STATIONS, TRIPS TERMINATING IN GEORGETOWN
BY SUBSCRIPTION TYPE, (2013)
Number of Trips
1,941
3,000
4,000
5,000
6,000
6,522
Bikeshare Member
Casual/Tourist
Subscription Type
Source: Capital Bikeshare Trip History Data (2014) and Georgetown BID
2
3
R
D

S
T

N
W
2
2
N
D

S
T

N
W
1
7
T
H

S
T

N
W
K ST NW K ST NW
L ST NW
Q ST NW
CONSTITUTION AVE NW
INDEPENDENCE AVE SW
L
Y
N
N

S
T
CANAL ROAD NORTHW
EST
V
IR
G
IN
IA
A
V
E
N
W
1
9
T
H

S
T

N
W
M ST NW
DUPONT CIRCLE
LINCOLN MEMORIAL
ROSSLYN
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50 THE STATE OF GEORGETOWN 2014 REPORT
MODE SPLIT, BY SELECT CHARACTERISTICS
Public Transportation
Walked
Other
Worked at Home
Carpooled
Drove Alone
100%
80%
60%
40%
20%
0%
2
0
0
0
7
D
C
D
C
,

W
O
R
K
E
R
S
A
G
E
D

2
0
-
2
4
Source: US Census (2014) “Journey to Work” ACS Survey Table B08101. Data for 20007 is 5-year
estimate (2008-2012). DC data is 2012 estimate.
source: US Census (2014), ACS Survey Table B25045.
The relative importance of private cars will likely diminish
over the medium and long term, as young workers
become the dominant demographic. Householders aged
15 to 34 are 1.3 times more likely to be living car-free
now than they were in 2005 and 1.6 times more likely
than householders aged 35-64.
34
DC’s younger residents
are learning to live without private cars, relying instead
on public transportation, walking, and other forms of
transportation like bicycles, taxis, and car-sharing. If
Georgetown’s transportation management strategies
are to be far-sighted, taking this trend into account will
be necessary.
The degree to which a neighborhood is walkable is an
increasingly important consideration of potential residents,
businesses, retail and restaurant patrons, and tourists.
Initial pedestrian studies confirm that Georgetown
experiences substantial increases in pedestrian traffic on
Friday, Saturday, on Sunday; the density of businesses in
Georgetown makes it an extremely attractive destination.
Pedestrian traffic is as much as 2.7 times greater on an
average Saturday than a typical weekday. Making sure
Georgetown’s pedestrians feel comfortable and safe at
peak and off-peak times is a significant interest of the BID.
100%
75%
50%
25%
0%
2005
15-34
YEARS OLD
35-64
YEARS OLD
2012 2005 2012
1 or More Car
Car-Free
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O
F

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O
U
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E
H
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L
D
S
CAR-FREE HOUSEHOLDS, BY AGE AND YEAR
45
34
67%
67% OF DC WORKERS
AGED 20-24 WALK
OR TAKE PUBLIC
TRANSPORTATION
TO WORK
THE STATE OF GEORGETOWN 2014 REPORT 51
AVERAGE WEEKDAY VEHICLE VOLUMES, 2010-13
2010 2012 Change
Key Bridge 47,800 47,600 -0.4%
Canal Road 42,600 42,400 -0.5%
Whitehurst and K St 42,900 41,500 -3.3%
Pennsylvania and M St 27,600 25,500 -7.6%
Reservoir and 39th 19,500 19,400 -0.5%
Wisconsin and R St 17,400 18,000 3.4%
Q and 28th St 8,300 8,200 -1.2%

Source: DC Department of Transportation
FOOT TRAFFIC INDEX
REFERENCE DAY = WED = 1.0
Source: Georgetown BID, composite measure of Wisconsin Avenue, M Street, and Thomas
Jefferson Street. Data collected Q1 2014.
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3.0
2.5
2.0
1.5
1.0
-1.5
-2.0 GEORGETOWN CAR2GO AT A GLANCE
Q1 2013 Q4 2013
Georgetown share of membership 2% 2%
Trips originating in Georgetown 7% 5%
Georgetown car turnover percentile 85th 65th
Source: Car2Go
Note: Turnover precentile rank indicates the percentage of cars that will be idle/unused for a
longer amount of time than an average car in Georgetown. In Q4 2013, cars in Georgetown sat
unused for less time than 65 percent of cars elsewhere in DC.
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45%
45% OF DC HOUSEHOLDS
ARE CAR-FREE IN THE
15-34 YEAR OLD
AGE BRACKET
52 THE STATE OF GEORGETOWN 2014 REPORT
WHERE GEORGETOWN BID WORKERS LIVE
Source: US Census Bureau (2014) OnTheMap Application, 2011 data
5–16 Jobs/Sq. Mile
17–52 Jobs/Sq. Mile
53–111 Jobs/Sq. Mile
112–193 Jobs/Sq. Mile
194–300 Jobs/Sq. Mile
WHERE GEORGETOWN RESIDENTS WORK
Source: US Census Bureau (2014) OnTheMap Application, 2011 data
5–42 Jobs/Sq. Mile
43–155 Jobs/Sq.
156–342 Jobs/Sq. Mile
343–605 Jobs/Sq.
606–943 Jobs/Sq.
BETHESDA
CHEVY CHASE
SILVER SPRING
Washington, DC
ARLINGTON
BAILEY’S CROSSROADS
MERIDIAN HILL PARK
WHITE HOUSE
BETHESDA
CHEVY CHASE
SILVER SPRING
Washington, DC
ARLINGTON
BAILEY’S CROSSROADS
BETHESDA CHEVY CHASE
SILVER SPRING
Washington, DC
ARLINGTON
BAILEY’S CROSSROADS
MERIDIAN HILL PARK
WHITE HOUSE
COMMUTING PATTERNS
Considering where workers who are employed by busi-
nesses within the BID live, it is important to understanding
the area’s transportation needs. Thirty percent of workers
in the BID area are DC residents. Unlike suburban-based
workers, who are distributed across the region, DC-based
workers are clustered in a few dense pockets, primarily
along the 14th and 16th Street corridors which run through
= Georgetown = Georgetown
the Dupont Circle, Mount Pleasant, and Columbia Heights
neighborhoods.
The correlate to where workers live, is where Georgetown
residents work. Fifty-nine percent of Georgetown residents
work within DC, with the highest densities in the central
business district along the K Street corridor and within
Georgetown itself.
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THE STATE OF GEORGETOWN 2014 REPORT 53
54 THE STATE OF GEORGETOWN 2014 REPORT
BID Staff:
Joshua Hermias, Lead Author
Joseph Sternlieb, CEO
Jamin Bell, Zeina Davis, Maggie Downing, Sherman
Gardner, Will Handsfield, Nancy Miyahira, John
Wiebenson, Theodore Williford
Special thanks to Gerry Widdicombe and Matthew
Watkins (Downtown DC BID), Kermit Kaleba and John
Kangethe (DC DOES), Kevin Brandt and Danny Filer
(National Park Service), Jenny DeMeo (MRP Realty),
Topher Matthews (Georgetown Metropolitan), Abigail
Jones (Climate Advisers), Bill Potapchuk (Community
Building Institute), John Asadoorian (Asadoorian
Retail Solutions), Barry Greenberg (EastBanc), Wright
Sigmund (Vornado), and Josh Moskowitz (Car2Go).
Design: Fuszion
Endnotes
1 Delta Associates and Transwestern (2014). Trendlines 2014.
2 Washington DC Economic Partnership (2013). DC
Development Report 2013/2014.
3 Metropolitan Washington Council of Governments (2013).
Round 8.2 Cooperative Forecasting (July 2013).
4 Destination DC (2013), website accessed 12-12-13.
5 National Park Service (2014). IRMA Portal, Park Visitor
Use Statistics.
6 Coburn, Tom (2013). Parked! Oversight Report. Office of
Senator Tom Coburn.
7 National Park Service (2014).
8 U.S. Bureau of Labor Statistics (2014).
9 DC Department of Employment Services (2014), personal
communication.
10 Georgetown University, personal communication (2013).
11 DC Department of Employment Services (2014).
12 Metropolitan Washington Council of Governments (2013).
13 ESRI (2014) Business Analyst Online (BAO).
14 Ibid.
15 Delta Associates and Transwestern (2014).
16 CoStar (2014)
17 Ibid.
18 Ibid.
19 The reported “typical floor square footage” is aggregated
across all buildings with vacant space, which sums to
421,000 SF. Assuming that 85% of a typical floor square
footage is a reasonable proxy for ground floor area,
0.5(0.85*421,000)=178,925. 178,925/267,000=0.67
20 Cushman and Wakefield (2014), “District Retail,” May 2014.
21 Washington DC Economic Partnership (2013).
22 Washingtonian Magazine, various issues, 2000-2014.
23 CoStar (2014)
24 Ibid.
25 Ibid.
26 Ibid.
27 Smith Travel Research (2014) and TripAdvisor.com (2014)
28 Smith Travel Research (2014)
29 Ibid.
30 National Park Service (2014).
31 Ibid.
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32 Captial Bikeshare Trip History Data (2014). Available:
http://www.capitalbikeshare.com/trip-history-data
33 Washington Metropolitan Area Transportation Authority
(2014), personal communication.
34 US Census (2014), ACS Survey Table B25045 and
Georgetown BID.






Additional photo credits:
Page 11 (Clockwise, from top left): EastBanc; MMG
Investments/Outerbridge Horsey Architects; Georgetown BID;
Dale Overmyer Architects.
Cover panorama and photos: Sam Kittner for the Georgetown BID
THE STATE OF GEORGETOWN 2014 REPORT 55
56 THE STATE OF GEORGETOWN 2014 REPORT
Notes
Unless otherwise noted, “Georgetown” is defined for statistical
purposes as 2010 DC Census Tracts 1, 2.01, and 2.02. These tracts
cover the area south of Whitehaven Street to the Potomac River.
To the west, the area is bounded by 35th Street until Reservoir Road,
and then by the western border of Georgetown University (which is
included). To the east, the area is bounded by Rock Creek. For a
detailed map, refer to: http://www.census.gov/geo/www/maps/
pl10_map_suite/tract.html.
The “Georgetown BID area” is comprised of the commercial corridors
along Wisconsin Avenue (between M Street and R Street) and M
Street (between 27th Street and 37th Street, and inclusive of the
commercial areas of Prospect Street) as well as the commercial areas
south of M Street to the Potomac River. For the statistical analysis
in this report, BID staff used a contiguous geo-spatial boundary
derived from GIS shape files available from the DC Office of the
Chief Technology Officer (data.octo.dc.gov).

This is the second State of Georgetown report undertaken by the
Georgetown BID. The BID intends to publish this report annually, using
data from each volume as benchmarks and monitors of progress
against which the future health of the neighborhood economy will
be measured. The staff welcomes comments and suggestions on how
to improve and expand this report to be most useful to its readers.
Please direct comments to Joshua Hermias, economic development
director, at [email protected].
While all data in this publication was produced by the BID or obtained
from the sources cited, the BID does not guarantee the accuracy of
the data included in this publication; the staff welcomes opportunities
and partnerships to refine available data.
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GEORGETOWN BUSINESS IMPROVEMENT DISTRICT
1000 Potomac St., NW | Suite 122
Washington, DC 20007
T: 202.298.9222 x208 | F: 202.298.9223
georgetowndc.com

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