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.^[1] The BID is a mixed-use neighborhood. It was a former industrial area transformed into a business center, urban neighborhood, entertainment district, and waterfront destination. The project involves adding over 9,000 new apartments, condominiums, lofts, modern office towers, 1,200 hotel rooms, one million square feet of retail amenities, two grocery stores, new restaurants, shops, and cafes. Over 33,900,000 square feet (3,150,000 m2) of office, residential, hotel, and retail space, as well as four new parks, were planned over 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.^[2] The BID's FY2009 budget was approximately $1.5 million and was funded by an assessment that applied to commercial property (including land and parking lots), residences of ten or more units, and hotels.