THE YARDS: The Yards Projected to Generate $88 million Annual Tax Revenue for DC

Yards Marina

Forest City Washington will be recognized Friday by the DC Chamber for it's economic impact with The Yards. At 6 million square feet, the impact of the mixed-use development on the Capital Riverfront in SE is indeed significant. 

According to an analysis by Bolan Smart Associates, at full build-out The Yards is expected to general $88 million in direct tax revenue for DC. In terms of jobs, The Yards is projected to create 10,500 full-time permanent jobs and approximately 1,000 full-time construction jobs.

In addition, Forest City is exceeding its goals of achieving 35 percent Certified Business Enterprise (CBE) contract participation and 51 percent FirstSource hiring of D.C. residents. 

The ARRIS

The Yards is a three phase development. Phase 1 has delivered and opened 715 new residential units and 150,000 SF of retail in Phase 1 thus far. Phase 1 work continues with more deliveries next fall and should be complete in 2019, with final build out of all three phases expected 15 to 18 years following that. http://theyardsdc.com/