Office of the Deputy Mayor for Planning & Economic Development Performance Oversight March 5, 2017
“What does DMPED do?” Implements the Mayor’s Economic Development vision Three Primary Pillars: 1. Increase Affordable Housing 2. Create Jobs for DC Residents 3. Generate Tax Revenue Real Estate and Housing Business Development • Attraction and #ObviouslyDC • • Projects across all 8 Wards Economic Strategy to grow economy • Portfolio worth more than $13 inclusively • billion Great Streets to help longtime • New Communities Initiative businesses • • Large to small scale Tech and Innovation focusing on • Affordable housing inclusion • International Business Development 2
2017 Accomplishments P P P #ObviouslyDC Amazon Bid Walter Reed Campus transfer from P P P Federal Government P P P The Wharf Development opening $3M investment for new grocery P P Autonomous Vehicle Working group P options in D.C. food desserts Entertainment Sports Arena Topping P P P Ribbon cutting at the Hine School P P P Out mixed-use development Yelp’s Lease for New Office Space P P P P P West End Library opening 2017 Great Streets Grant Recipients P P P P P DC Innovation fund RFI issued Announced Ribbon cutting at the DCI and LAMB P Walter Reed Dreams Community P P P P school at Walter Reed Campus Block Party Joint Capital Region Joint Trade P P DC’s First Inclusive Innovation P P P P Diplomatic Trade mission to Canada Incubator Opens St. Elizabeths R.I.S.E. P P Neighborhood Prosperity Fund P Demonstration Center receives LEED-S Gold Certification DC Economic Strategy Released P P P P Capitol Vista Land disposition Rose Center for Public Leadership P P P P P P on St. Elizabeth’s Campus Redev. Agreement signed DMPED attends Consumer P P New nonstop flight from New Delhi P P Electronic Showcase in Las Vegas Eastern Branch Boys and Girls Club P P P P P DMPED Delivering Tracker launches Our RFP public meetings P P Doing Business Guide Released P P P Economic Intelligence Roundtable 3 rd Annual #innoMAYtion P P P DC United Stadium Groundbreaking 3 P P BEACON Launches Grant Program Business Incentive Tool Released P P P
Affordable Housing: Highlights Multi-pronged strategy across all 8 Wards • Over 1/3 of a billion dollars invested in Housing Production Trust Fund since Jan 2015 • Almost $140 million invested in 2017 • DHCD Funding – Projects include Parkway Overlook, Wah Luck House, South Capitol Multifamily • DMPED Land Dispositions – 30% of housing affordable at 30% AMI & 50% AMI • Housing Preservation Strike Force – Implementing recommendations, including preservation unit at DHCD • Strengthening Inclusionary Zoning • Homeownership and Vacant Properties – Vacant to Vibrant 4
Affordable Housing: Tracker Updated monthly at open.dc.gov/economic-intelligence 5
Job Creation: DMPED Real Estate Projects As of Feb 2018 Under Pre- In Total Construction Development Negotiation Projects 14 13 8 35 Total Project Costs $3.9B $1.3B $0.5B $5.7B Construction Jobs 1 11,457 3,125 2,988 17,570 Permanent Jobs 10,012 1,735 761 12,508 EIM Total Jobs 2 21,469 4,860 3,749 30,078 1 Full-year equivalent 2 Economic Impact Model estimate for total direct permanent tax revenue over 30 years plus construction period tax revenue Note: Table includes only DMPED Development Portfolio and Public projects in the construction, pre-development, and negotiation phases. The table does not include an additional projects in the planning, RFP development, and solicitation phases. 6
Business Development: Tech, Innovation, and Creators Making DC a leader in Inclusive Innovation • #ObviouslyDC and Tech Attraction attracted Yelp to the District and made shortlist for Amazon HQ2 search • Economic Strategy Report released report and now implementing framework and actions • EE100 Business Development team meeting with DC’s 100 largest employers and growing companies • IN3 Inclusive Incubator opened with partners Howard University and Luma Labs in March 2017 • SXSW DC delegation including Made in DC and music • InnoMAYtion showcasing DC’s innovation ecosystem • 202 Creates featuring artists, makers, and entrepreneurs – showcasing the District’s diverse and vibrant creative economy in all 8 Wards. 7
Business Development: Neighborhood Investments Promoting business development across all 8 Wards • Launch of Neighborhood Prosperity Fund – Supports gap funding for commercial components of mixed-use real estate, or retail development projects in targeted census tracts • Great Streets • Industrial Revenue Bond – Total of 274 Grantees (IRB) Tax Exempt Bond since 2015 with a total Financing Program investment of $14.3M – 14 Projects financed in FY17 totaling $876,960,633.41 8
Real Estate Highlights: 2017 Fall Legislative Agenda 9
Real Estate Highlights: Moving New Communities Forward Barry Farm • Offsite construction completed • Currently in predevelopment • Demolition; over 1,400 total units planned and disposition application approved • 346 units completed Lincoln Heights/Richardson Dwellings • Currently in the planning stage • 255 units completed; over total1,594 units planned • 5201 Hayes Street Offsite currently in construction • Strand Development Finance Agreement approved by Council Northwest One • OurRFP completed • November 2017 Development Team selected 5,465 Units Planned & • Over 500 units completed; 800+ total units planned Completed: 1,596 Replacement Units Park Morton 2,695 Affordable Units • Bruce Monroe LDA approved by Council 1,174 Market Rate Units • Development Finance Agreement Approved By council • 83 Units completed; 462 units planned 10
Real Estate Highlights: Walter Reed • 67-acre former army medical center will include: • 2,100 housing units, including veterans’ housing • 2 charter schools • Neighborhood-serving retail & large grocer • Healthcare • Open space • Site acquired from the Army and disposed of to Master developer who is implementing first phase of horizontal development • 2017: Site Activation/Interim Uses 11
Real Estate Highlights: St Elizabeths East • Phase 1 Approved by Council; LDA signed by the developer • Entertainment & Sports Arena (ESA) under construction and anticipated to complete in Fall 2018 • Affordable housing under construction in Q2 of FY18 • First stage of Infrastructure work (including demolition) to complete in 2018 12
Real Estate Highlights: McMillan • Will feature 12 acres of public, open and green space; a 6.2 acre park; community center with a pool; a full-service grocery store; restaurants and retail; about 650 units of housing (20% of those affordable); and healthcare facility space. • The groundbreaking occurred in December 2016. DMPED is working closely with DGS to complete critical stabilization and preservation work. 13
Real Estate Highlights: Notable Milestones • DC United : Under construction – Broke Ground on Audi Field Feb 27, 2017; “Topping Off” on Jan 26, 2018. • Capitol Crossing: Delivery mid- 2018 – Projected to create 4,000 construction jobs and support 6,500 permanent jobs. • The Wharf: Phase 1 Open – Substantial Completion on Oct. 12, 2017 • Franklin School: Transferred to developer, Museum of the Word ground breaking May 4th • Union Market TIF : will bring multi- family buildings, affordable housing, retail and office space 14
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