STATE OF GEORGETOWN

The Georgetown Business Improvement District (BID) State of Georgetown 2016 is a compilation of statistics and analysis about key features of the Georgetown economy in calendar year 2015.  

The report helps inform decisions by the BID’s members, as well as brokers, potential investors and tenants, and the District government. This fourth annual edition, published June 2016, reports that that the state of the Georgetown economy is strong, with strong performance in a number of sectors. 

During calendar year 2015, Georgetown thrived as a vibrant commercial district and continued to be a desirable place ot work, shop, and visit. 

  • Georgetown was the strongest performing office submarket in the region, with the vacancy rate declining to 5.9 percent from 7.1 percent, due in part to average rental rates 16% lower than the CBD. 
  • Retailer interest remained high. Georgetown saw online retailers opening brick-and-mortar locations, including Birchbox and Warby Parker, and national brands opening region-exclusive locations, including Sid Mashburn/Ann Mashburn.
  • Retail vacancy increased in 2015, but many building owners began renovating spaces to bring in new retail tenants in 2016.
  • New, local restaurants opened on the side streets south of M Street and along Wisconsin Avenue, including Chaia Taco, Via Umbria, and Sovereign (Q1 2016).
  • The Georgetown BID, together with Advisory Neighborhood Commission (ANC) 2E and the Citizens Association of Georgetown (CAG), reached consensus on ending the Georgetown liquor license moratorium. The ABC Board officially ended the moratorium on April 9, 2016. 
  • Hotel performance was on par with 2014 performance, which saw rebounds over the previous year in occupancy, and gains in revenue per available room and total revenue. 

View the State of Georgetown 2016

The State of Georgetown is published annually by the Georgetown BID. Comments and suggestions are welcome on how to improve and expand this document. For more information, please contact the BID's Director of Economic Development, Jamie Scott, at jscott@georgetowndc.com. To receive a printed copy or copies of the State of Georgetown 2016, please email info@georgetowndc.com.