WASHINGTON, DC—It has been eight years since the Capital Riverfront BID launched and in that time the area has made an astounding level of progress. In the last year it realized an immense development boom, according to the annual report that the BID is releasing during its annual meeting luncheon today, at which District of Columbia Mayor Muriel Bowser will speak.

The tally for 2015: ten apartment developments, three hotels, one office building, and more than 190,000 square feet of new retail space under construction.

Ten new retailers moved in last year, there is a Whole Foods is under construction as well as 10 apartment developments totaling 3,142 apartments. Soon to start breaking ground will be an additional 2,661 housing units. There are also 372 existing hotel rooms with 365 hotel rooms under construction.

It is, in short, quite a list.

"The fundamentals are sound," Michael G. Stevens, president of the Capitol Riverfront BID, tells GlobeSt.com. By that he means the area is widely viewed as clean and safe and there is essential infrastructure -- transit and housing and amenities -- in place.

All of the office buildings that have delivered is over 92% leased with the exception of 1015 Half St., which is 55% leased, he said.

And while the office market in general is slow, there has been some spec development -- namely Skanska's 99 M St., which is under construction.

"The neighborhood is growing," Stevens said.

When prodded, Stevens says there are some additional benchmarks he would like to see occur this year mainly along the lines of diversifying the market's office base. On his wish list:

A 100,000-square foot or even 50,000-square foot law firm. There is a small boutique firm now but nothing says "we have arrived" in this city as a marquee law firm tenant.

A 100,000-square foot or, again, 50,000-square foot large technology company. Again, a signature tenant like, for example Microsoft or IBM, will establish the Capitol Riverfront's creds as an attractive office destination.

A major lobbying group tenant. Rumor has it, however, that one such company just signed a lease for 11,000 square feet in one of the office buildings.

An architecture/ interior design/ visual design company. There are some engineering companies here, Stevens said, but further diversification in this area would be nice.

A marketing/PR company.

Not that the BID isn't great right now, he said. "More and more people and companies are moving because they find the revitalization of this river corridor fascinating."

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.