As downtown D.C. struggles to recover from the pandemic, business leaders urge the district to spend more than $400 million to reimagine what a fully functioning downtown looks like in the new economy. ing.
The pandemic has left many office and retail spaces empty, and crime has deterred people from coming to the city. And now, with the Washington Capitals and Wizards potentially leaving for Virginia, the future of Capital One Arena and Chinatown is in jeopardy.
All these pressures come at a price.
“Annual tax revenue is $240 million less each year from downtown.” [area] more than before COVID-19,” said Leona Agridis with the Golden Triangle Business Improvement District.
On Monday, business leaders announced plans to turn around downtown, with ideas such as:
- Reinventing public spaces to improve neighborhood connections
- attract new business
- Convert a vacant office into a residence
- reduce crime
“In order for this to move forward, people have to feel safe to be downtown,” said Jalen Price of the Downtown DC Business Improvement District.
The estimated value of the recommendations is more than $400 million over the next five years.
It’s up to Bowser to decide which recommendations she accepts and, more importantly, which recommendations she finds money in.
“Making strategic catalytic investments is essential to growing cities and growing economies,” Bowser said.
Specific recommendations include adding more police officers to patrol downtown on foot, increasing the number of mental health first responders, making it easier for businesses to obtain licenses and permits, and increasing tax breaks for startups. can be mentioned.
“And I want those who are concerned to know that we have and will continue to put public safety at the top of our priority list,” Bowser said. .
Bowser said the conversion of office space to housing is progressing well, with five projects currently under construction and 11 more in the design stage. Bowser expects 15,000 more people to move downtown in the next few years.
