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The District's retail market is expanding as retailers discover the potential of this growing urban market. Recently opened stores such as Trader Joe's, Home Depot, Giant Foods, Whole Foods (Fresh Fields) and H & M Retail are exceeding their sales and revenue projections. This new confidence in DC as a retail environment is also evidenced by the opening of new stores such as Best Buy and The Container Store, and the construction of new retail centers like Gallery Place and Tivoli Square.
Movie theaters have returned in Downtown and Georgetown, while the DC Main Streets program encourages the growth of "home grown" retail stores in neighborhood commercial corridors. New retail projects will only continue this expansion with the opening of DC USA, Camp Simms, Washington Gateway Center, and Skyland.
The table below highlights the significant retail renaissance occurring in the District of Columbia. For up-to-date retail development information please visit our on-line Development Database.
| Retail Development (August 2006) | | Projects | Sq. Ft. | Project Cost1 | | Completed in 2004 | 22 | 369,208 | $1,107 million | | Completed in 2005 | 25 | 785,423 | $1,085 million | | Completed in 2006 YTD | 12 | 124,407 | $685 million | | Under Construction | 45 | 1,339,832 | $3,833 million | | Planned | 57 | 2,811,236 | $9,011 million | | Proposed | 60 | 1,938,257 | $7,824 million | | TOTAL2 | 282 | 8,365,370 | $27 billion |
(1) Project cost may include non-retail components
(2) Totals include 2001, 2002 & 2003 figures (not shown in table) |
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