Release Date: Apr 11, 2022
National Landing Bid Releases Study, New Data Defining The Region As One Of The Nation’s Leading Innovation Districts
Report Includes New Insights, Statistics Regarding the Rapid Growth in Development, Technology, Equity, Jobs and More in National Landing
ARLINGTON, VA - APRIL 7, 2022 - National Landing Business Improvement District (BID) today released the National Landing Market Impact Study which includes compelling data and findings defining the area of Pentagon City, Crystal City and Potomac Yard as one of the nation’s leading innovation districts. Defined as a dynamic, cohesive downtown, National Landing offers a balanced mix of people, place and program assets to be a premier innovation district. Rivaling successful areas such as Kendall Square in Cambridge, South Lake Union in Seattle, National Landing possesses these key assets, fostering an equitable and successful urban district teeming with opportunities in technology and modernization.
“National Landing is an area that is rapidly evolving – we are a story of innovation, equity, sustainability and competitive advantage,” said Tracy Gabriel, President and Executive Director, National Landing BID. “As this region continues to grow, our goal is to continue collaborating with our outstanding partners in development, tech, education and more to maintain a well-balanced and competitive district here in National Landing. We are proud to release the compelling data included in this study that speaks to the incredible progress and achievements of our area as well as the bright future ahead.”
Developed over the past six months by HR&A Advisors, the National Landing Market Impact Study breaks down each of the pillars of an innovation district - people, place and program - to showcase the region’s exciting progress in attracting two major tech anchors with Amazon and Virginia Tech, top workforce talent, investing in significant transportation and digital infrastructure, creating equitable economic development opportunities and more.
Some of the key findings from the study include:
- National Landing is emerging as a leading compact, mixed-use downtown with more jobs and residents per square mile than its regional competitors.
- National Landing is anticipated to soon become the fastest growing area in the region, eclipsing a position that Capitol Riverfront has held for the last ten years.
- With 8 million square feet of Class A office in the pipeline, National Landing also offers a significant supply of affordable Class B/C office space that innovation districts need to accommodate growing startups.
- Innovation districts are typically 25-50% residential. National Landing has a 1.1 ratio of daytime workers to residents and 47% residential space.
- National Landing offers employers a talented and diverse workforce within a short commute and is well-positioned to support equitable growth and expanded opportunities for people of color. National Landing is also located in a leading County for women in tech in the United States.
- With Amazon’s commitment to create at least 25,000 jobs by 2030, National Landing is positioned for a strong job growth trajectory and a resilient recovery in light of COVID-19.
- Through a partnership between JBG SMITH and AT&T, National Landing will become the first 5G-enabled connected city at scale, offering an intelligent, seamless and secure digital experience of the future.
The National Landing Market Impact Study is free and available to the public. To access the study and learn more about the recent and projected growth in National Landing, click here.
About National Landing Business Improvement District
The National Landing Business Improvement District (BID) is a public-private partnership established to promote and activate the area’s business, retail, restaurant and residential community through placemaking, public art, transportation, economic development, events, marketing and promotion. This dynamic, mixed-use urban center encompasses the vibrant Crystal City, Pentagon City and Potomac Yard-Arlington neighborhoods, and includes more than 26,000 residents, over 12 million square feet of office space, approximately 5,500 hotel rooms and over 450 restaurants and shops. Already Virginia’s largest walkable downtown, National Landing is in the midst of an exciting transformation driven by billions of dollars in public and private investment that will deliver new and enhanced housing, offices, parks, transportation and infrastructure in the coming years. The National Landing BID is helping to steer this growth in ways that are sustainable and enhance the area’s diversity and livability. For more information, visit NationalLanding.org and connect on Twitter, Facebook and Instagram.