Project Profiles

Mixed-Use Community Market Feasibility Study
Project: McMillan Sand Filtration Plant, Washington, DC
Client: Vision McMillan Partners, led by EYA and Jair Lynch Development Partners
 

The successful redevelopment of communities such as Columbia Heights helped spur the District of Columbia to consider development of underutilize, city-owned parcels such as the McMillan Sand Filtration Plant. Surrounded predominantly by residential neighborhoods, development of the property is envisioned as a mixed-use community with public spaces, hotel, office, retail, and residential uses.
 
In studying the site, Fulton Research determined that the cluster of medical facilities across the street, which include Washington Hospital Center, Children’s National Medical Center and a Veteran’s Administration Hospital, will generate significant demand for all uses in the project, especially for office, retail, and hotel. This community was compared to other neighborhoods within one mile of McMillan, which include those in the northern submarkets of the District and in Silver Spring. One critical issue involved determining housing prices in this community versus similar communities closer to metro and major employment centers. While carrying a premium in the local market, the location justifies a price that is relatively affordable compared to the District’s higher priced apartments and condominiums. This price position will allow for a faster absorption pace at McMillan, compared to more expensive communities.

 

[Project Profiles]