One of the rising stars in the DC real estate market is the H Street corridor. Just a few years back this area, which is located in the Northeast quadrant and bounded by Second Street to the west, 15th Street to the east, G Street to the south and K Street to the north, was considered to be somewhat sketchy. Today, however, it’s one of the hippest neighborhoods in all of DC, with boarded-up storefronts and dollar stores giving way to trendy boutiques and night spots. So what makes H Street an investor’s dream?
Consider the following:
- Property Selection: H Street offers a variety of properties for all tastes and purposes. New luxury condos are available, as well as condos and lofts in renovated older buildings including a repurposed elementary school and a garage. H Street also offers larger residences – row houses, town homes and duplexes. A spacious three-bedroom residence complete with yard currently costs about what you’d pay for a smaller, yard-less two-bedroom on Capitol Hill, and the parking situation’s quite a bit better, too.
- Location, Location, Location: H Street bars and restaurants draw patrons from all over the DC Metro area – Biergarten Haus has authentic German food and (of course) beer, Granville Moore’s is a popular Belgian gastropub known for its award-winning moules frites (steamed mussels with fries) and the Star and Shamrock is a unique combination of a New York-style Jewish deli with a traditional Irish Pub. And let’s not forget the H Street Country Club, home to DC’s only indoor miniature golf course. The Rock & Roll Hotel hosts original bands from all over the globe, and the Atlas Performing Arts Center actually sparked the H Street revitalization – in fact, another name for this area is the Atlas District.
- Live-able and Walkable: H Street offers easy access to shopping as well as dining and entertainment. The area is served by a new Giant Food store, and construction began recently on the new Whole Foods. The producers-only H Street NE FRESHFARM Market offers the best in fresh local produce, meats, dairy and baked goods, and even fresh sorbets and gelato.
- Easy Transportation: The H/Benning line of the new DC Streetcar system, though delayed, is expected to open sometime soon. This line will run from Union Station on the west all the way over the Anacostia River to Oklahoma Avenue and Benning Road – a 2.4 mile stretch. What this means for H Street is that now residents will have an easy, bus-free commute, with ready access to not only the Metro but also light rail (both MARC and VRE trains) and Amtrak.
- Family Friendly: While many of H Street’s urban pioneers were young singles and couples, today H Street is home to an increasing number of families, and you’ll see plenty of strollers on the sidewalks these days. Local businesses are courting young patrons, as well – Sticky Rice has a kids eat free night on Tuesdays, Joy of Motion offers youth dance classes, camps and performing ensembles, and the annual H Street Festival each September has the CapKids Family Zone with crafts, games, puppet shows and music and theater performances just for children.
With all this going for it, the H Street Corridor has a bright future ahead of it (as well as a pretty glowing present). The new streetcar is sure to bring an influx of exciting new businesses, and there is also quite a bit of new construction and property renovation to accommodate the ever-growing population. As the crime rate continues to go down and the interest level continues to rise, H Street property values are a sure bet to keep going up and up. As an investment goes, The H Street Corridor looks like a best bet.