Shopping Centers Today

APR 2018

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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Page 46 of 59

A P R I L 2 0 1 8 / S C T 47 To the south, Trader Joe's, Whole Foods and other grocery stores are taking advantage of in- fill development opportunities in mixed-use buildings in maturing urban neighborhoods, some of which have been devoid of retail amenities for years, says David Dochter, a principal and co-founder of Dochter & Alexander. A growing 14th Street retail corridor blossomed from its intersection with U Street, for example, and activity is matriculating into the Shaw neighborhood a few blocks to the east, Dochter says. "Prior to the 1968 riots, you had trade areas that were very viable, but since that time, they really didn't mature," he said. "Now they have some velocity, and the growing residential base has been a big driver." Among other neighborhood properties longer, Klug says. e company is emphasizing place-making and is working on a handful of other projects in the market, including the addition of an eight-screen Alamo Drahouse Cinema and a town square to its 482,600-square-foot Stonebridge at Potomac Town Center, in Virginia's Prince William County. Alamo Drahouse has also committed to anchoring the retail component of a mixed-use neighborhood that JBG Smith envisions in the Crystal City district of Arlington, Va., an urban residential, business and transportation hub near the U.S. 1 corridor that crosses Left: The Wharf is adding a second phase along the Potomac River; and (below) the former Walter Reed Army Medical Center is becoming a mixed-use center projects, a partnership of Ellis Development Group, JBG Smith and MRP Realty broke ground late last year on a 433-unit apartment building in Shaw that is to contain a 45,000-square-foot, two-story Whole Foods. "It's an exciting time to be in Washington from a retail standpoint," said Jay Klug, executive vice president of retail development at JBG Smith. "We're seeing a lot of new submarkets open up through transit expansion and enhancement, as well as from the general migration of residents from west to east." e JBG Cos., a historically active developer in the Washington metro, merged with the Washington business of Vornado Realty Trust in July. e deal resulted in the spinoff of JBG Smith, and its new status as a REIT enables the developer to hold $100,181 HOUSEHOLD INCOME

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