Capitol Riverfront

The Capitol Riverfront is a business improvement district (BID) located just south of the United States Capitol between Capitol Hill and the Anacostia River in Washington, D.C. It was created by the District of Columbia City Council and approved by Mayor Fenty in August 2007. The BID is a mixed-use neighborhood. It was a former industrial area that is being transformed into a business center, urban neighborhood, entertainment district and waterfront destination. The project involves adding over 9,000 new apartments, condominiums and lofts, modern office towers, 1,200 hotel rooms, one million square feet of retail amenities including a two future grocery stores, new restaurants, shops, and cafes. Over 33,900,000 square feet (3,150,000 m2) of new office, residential, hotel and retail space as well as four new parks are planned over the next 10–15 years. The new 5-acre (20,000 m2) riverfront Yards Park opened in fall 2010.

The BID is governed by a Board of Directors composed of twenty property and business owners and seven non-voting community stakeholders. The BID’s FY2009 budget is approximately $1.5 million and is funded by an assessment that applies to commercial property (including land and parking lots), residences of ten or more units, and hotels.