It has taken longer than some may have hoped, but development is finally starting to take off around Nationals Park.
When it was first conceived, the Washington Nationals and D.C. officials touted Nationals Park as a catalyst for development around Navy Yard. While the team has been a steady contender the last few seasons, and the site offers a few inherit advantages–including a location near the water and convenient Metro access–the ballpark opened in 2008, about the worst possible time for such a project.
Nearly a decade later, properties around the ballpark are starting to be developed into residential lodging, office, and entertainment options. Many of these projects are expected to come to fruition over the next few years, and be in place when Nationals Park hosts 2018 MLB All-Star Game. For developers, the ballpark’s proximity to locations such as Half Street offer some unique opportunities. More from BISNOW.com:
“The opportunity you have to capture what really is this ready and willing audience that wants to go spend money, have a beer and eat some food before and after the game,” JBG’s Bryan Moll, who will be a panelist at the event, tells Bisnow. “There is so much opportunity on one block.”
Roughly one-third of the 432 units in Jair Lynch’s Half Street development, rendered above, will have views into the stadium, Jair says.
“We need to make sure we’re producing a product that would appreciate this unique location,” Jair… (ellipses mine) tells Bisnow. “That means great views, corner units in lots of different locations, high-quality finishes and amenities facing either street, roof decks that look right onto home plate. We’ll have all kinds of socializing spaces.”
Though the timeline for activity was stalled for the area surrounding Nationals Park, the ballpark itself has been faring well financially. As was reported back in May, the taxes and revenues from Nationals Park have generated surpluses that surpass the projections for what is needed to pay off ballpark-related bonds.