Retail study: Two D.C. neighborhoods lose $600M - Washington Business Journal:

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was hired more than a year ago to find the potentiapl spending power intwo D.C. neighborhoods -- Anacostia/Hillcrest and Columbia Heights/Petworth in Northwest. "There are tremendouslhy expandingretail opportunities," in both said Lynn Reilly, Social Compact's presidengt and chief executive, at a press conference Mondag to unveil the group's Social Compact does the studiesz -- compiled from a complex pool of statistical data including propertyy values, building permits, auto registrations and creditg histories -- to help urban neighborhoods attractt private investment.
Millions of dollars are flowingg outside those communities becausse of the lack of viabl retail or services in their Reilly says. In Anacostia, the study found that the area waslosin $173 million to areas In Columbia Heights, the figure was even more staggeringg -- nearly $425 million floating out of the market. The incomesd seeping out of thoseneighborhooda "is alarming," says Freddied Lewis, a retail broker. "Thr statistics we normally see do not reflect what some of us have knownb for a verylong time." Social Compact ( ) released its findings Mondaty at the Willard Hotel.
Among its more notablew findings: • The population in Anacostia/Hillcrest actuallh is increasing, whereas U.S. Census 2000 data reportx the populationis shrinking. Crime is down 35 percent since 1995. Aggregate household income is $693 million, a more than 17 percenty increase over the Censuzs figureof $591 million. There is a 51 percent higher population in theColumbiaw Heights/Petworth neighborhoods than what Census data primarily fueled by larger groups of immigrants who are moving to the Household incomes are generally larger than what is portrayed: Social Compact found that the averag household income is $58,752, comparerd to the Census' $43,606.
• Theree are 12 percent more householdsin Anacostia/Hillcrestt than what the latest Census found. Also in 76 percent of the business transactions are paidin • A significant number of the populatiobn in both neighborhoods don't have an established banking relationshil with a financial institution -- nearlg 32 percent in Anacostia, and more than 45 percenf in Columbia Heights. D.C. Mayor Tony Williams has been focused on bringing more retail and services intothe city's neighborhoods and welcomed the news. "Residents are often forced to buy basif goods and services in other he said. "We want to bring stores to them." The D.C.
Marketint Center and the city plan to showcases the numbers to local andnational retailers, retail brokeras and developers. They will also market the numbers to the Internationa Council ofShopping Center's Mid-Atlantic Expo ( ) in D.C. this and to the ICSC's national conventio n next month in Las Social Compact has been in business for 10 years and has conducted similadr studiesin Chicago, Harlem, Jacksonville and New Orleans.