MVT CID Holds 2019 Annual Meeting & Releases FY 2018 Annual Report
Tuesday May 7, 2019
Meeting, Report Celebrate another Strong Year of Community Building & Inclusive Growth in Mount Vernon Triangle
Washington, DC (May 7, 2019) – Approximately 100 property stakeholders, business owners and other key partners convened on Friday, May 3 at AJAX – a marquee event space located in the heart of Mount Vernon Triangle – to celebrate another successful year of inclusive growth, community building and accomplishments at the Annual Meeting of the Mount Vernon Triangle Community Improvement District (MVT CID). Also featured at the event were keynote remarks by Kristi C. Whitfield, Director of DC’s Department of Small and Local Business Development, Clean Team awards and recognition by Ward 6 Councilmember Charles Allen, the presentation of community awards, and an announcement of election results for MVT CID’s Board of Directors.
“It’s clear that Mount Vernon Triangle’s recent growth has been both necessary and essential to the growth of our city as well as its ability to serve all who depend upon its services,” said Kenyattah A. Robinson, MVT CID President & CEO. “And while our positive fiscal impact toward DC’s tax base is something that we can all be proud of, we’re equally proud of Mount Vernon Triangle’s contributions toward some of our city’s most important priorities, such as the creation of more housing that is affordable to greater numbers of DC residents.”
As noted in the MVT CID Annual Report, 175 of the 181 housing units currently under development in Mount Vernon Triangle – or 97% – will be affordable to residents earning between 30-80% of the area median income. And, current projections indicate that one out of every five units in the neighborhood will be affordable once Mount Vernon Triangle’s build-out is complete.
“Mount Vernon Triangle’s growth and maturation serves as affirmation of one of the main objectives for our community from day one – to create an inclusive community that is open, inviting and attractive for all,” said Berk Shervin, MVT CID Chairman of the Board. “The intentional planning and skillful execution of many partners in both the public and private sectors has enabled Mount Vernon Triangle to continue to blossom into the vibrant mixed-used destination envisioned since its birth out of the Mount Vernon Triangle Action Agenda published 15 years ago.”
Each year, the MVT CID recognizes individuals and organizations who have demonstrably improved the lives of those who live, work, do business and visit Mount Vernon Triangle. This year three awards were given to the following individuals for their commitment and service to the community, joining the ranks of other outstanding leaders who have previously been honored.
- Public Service Award – Rev. Dr. James Terrell, Second Baptist Church of Washington (est. 1848)
- Community Partner Award – The Velazquez Family, Owners of A Baked Joint & la Betty
- Lifetime Achievement Award – Yvonne Williams, Bibleway Church of Washington, DC (est. 1927)
The following Board Members were voted on for a three-year renewal term and confirmed at the annual meeting:
- Berkeley M. Shervin, President & Chief Operating Officer, The Wilkes Company
- Dr. Ivory A. Toldson, Long-Time Mount Vernon Triangle Condominium Owner, President & CEO of The QEM Network, and Professor at Howard University
The MVT CID welcomes the following new Board Members who were voted on for a three-year term and confirmed at the annual meeting:
- Stacey Aguiar, Assistant Vice President, Property Management, Equity Residential (owners of 425 Mass Apartments and 455 Eye Apartments)
- Ronald D. Lipford, AIA, NOMA, Board Chair, Bible Way Church
- Samantha Margolis, Chief Administrative Officer & Chief of Staff, AIPAC (MVT CID property owner and headquarters tenant)
MVT CID Programmatic & Economic Impact Summary
The MVT CID released its FY 2018 Annual Report and presented summaries of its programmatic and economic development progress. Among the highlights:
- In our 2018 Neighborhood Perception Survey (704 total responses):
- 90% of respondents described Mount Vernon Triangle as “clean” or “very clean.”
- 74% of respondents described Mount Vernon Triangle as “safe” or “very safe.”
- 54% of respondents described the sense of civic engagement and community pride as “high” or “very high.”
- All reflect record highs for these questions in our survey.
- Residential growth increased by more than 60% over the last five years, adding 1,745 more residential units to reach 4,545 units by year-end 2018.
- Mount Vernon Triangle’s central location within Washington, DC continues to draw residents from within and beyond the District, with almost 80% of MVT’s nearly 7,000 residents living within one mile of their job, and nearly 50% walk to work.
- Mount Vernon Triangle now boasts more than 60 restaurants and shops across approximately 285,000 square feet, with an additional approximately 120,000 square feet either under construction or in the pipeline.
- More than 70% of the restaurants and shops are owned by small business owners, including owners:
- Oubab Kahlil and Lama Hamoudi, who opened their second establishment, Chez Lily, following the success of their Tropical Smoothie Café franchise, the first in Washington, DC; and
- The Velazquez Family, who recently opened the 65-seat la Betty restaurant following the success of their popular bakery and coffee shop, A Baked Joint.
- Leading association, legal and non-profit space users continue to flock to the Mount Vernon Triangle area, with eight major headquarters locations relocating within or adjacent to Mount Vernon Triangle since 2007.
- This includes D.C. Bar, which moved into 103,000 square feet of “Trophy”-class office space and 7,700 square feet of retail during the fiscal year.
- With 634 rooms spread across three hotel properties and nearly 75% of end-state hotel development either under construction or currently in the pipeline, our hospitality growth will yield a 266% increase in hotel rooms available in Mount Vernon Triangle at full build-out.
Economic Impact Results
- Properties in MVT CID comprise 0.25% of all DC land area and 0.50% of all taxable land area, but in FY 2018 were responsible for 1.0% – or $3.4 billion – of the city’s total appraised property value, and 1.4% of city real property taxed collected—rising from 0.97% in FY 2009 and estimated to rise to 1.49% in FY 2019. (source: Open Data DC)
- What’s more, real property taxes generated in the MVT CID rose at a compound annual growth rate of 8.3% between FY 2009 and FY 2018, more than twice as fast as the DC-wide average of 3.9% over the same period. (source: Open Data DC)
The MVT CID FY 2018 annual report can be downloaded on the Resources page on our website under Publications & Reports > Annual Reports or picked up at the MVT CID office at 457 Massachusetts Avenue NW.
About the Mount Vernon Triangle Community Improvement District
The Mount Vernon Triangle Community Improvement District is a private, nonprofit organization established to enhance the overall quality of life for residents, workers and visitors, and to increase commercial opportunities for business and property owners, in the Mount Vernon Triangle neighborhood in Downtown DC. Mount Vernon Triangle is considered to be one of Washington DC’s best examples of a mixed-use community, a vibrant neighborhood in the heart of the city—both geographically and culturally. Its boundaries include 17 blocks within the East End of downtown Washington, DC, bordered by 7th Street NW to the west, Massachusetts Avenue NW to the south, New York Avenue NW to the north and New Jersey Avenue NW to the east. Mount Vernon Triangle is a welcoming, authentic, and centered neighborhood that mirrors the city’s unique mix of historic and modern buildings, long-time and new residents, and diverse cultures, restaurants, and urban experiences. For more information, we invite you to explore our website at mountvernonontriangle.org or follow us on Facebook, Twitter and Instagram @mvtcid, and view our Flickr album for event photos.