What to know about the development boom along the Metro’s Green Line
New apartments and condos, higher wages, and more
The Metro’s Green Line is the corridor of choice for young professionals, according to a brand new report commissioned by the Capitol Riverfront Business Improvement District and conducted by research firm RCLCO.
The report, called “GreenPrint of Growth 2.0,” examines any and all growth that have occurred in the past five years within a quarter-mile of the Metro’s Green Line stations.
Some of the highlights of the report include that the Metro’s Green Line has accounted for 48 percent of Washington, D.C.’s new households under 35 since 2010.
Furthermore, one out of every four new apartments built in the District since 2000 has been located in the Green Line Corridor.
Together, the Navy Yard-Ballpark and Waterfront stations added as many households as the Petworth, U Street, Shaw, and Mt. Vernon stations combined.
The number of jobs have increased by 50 percent (a total of 76,000) between 2010 and 2016, while the average income for households in the corridor increased by nearly 50 percent since 2012, to $121,600.
According to the report, high-wage jobs accounted for the largest share since 2010, representing 58 percent of job gains in Washington, D.C. and 63 percent of new jobs in the corridor.
When it comes to total fiscal impact, the residential growth and development in the corridor is expected to generate $3.66 billion in tax revenues over the next 20 years. The report also estimates the development of 22,500 permanent jobs and 1,100 average annual construction jobs.
If interested in reading the entire document, check it out below.