By Jonathan O'Connell, Published: September 25
When Elizabeth Price became president of the the NoMa Business Improvement District in 2007, the country was headed toward a financial crisis and many Washington area executives hadn’t heard of the place, much less considered leasing there.
By the time Price announced this summer that she was leaving the BID, NoMa had become an established office market that is now adding hundreds of units of housing each year.
NoMa is short for “North of Massachusetts Avenue,” a neighborhood north of Union Station. The district is bounded by Massachusetts Avenue to the south, New Jersey and North Capitol Street to the west, and Q and R streets to the north; it also extends eastward just beyond the CSX/Metrorail tracks
Price managed and marketed NoMa for four years, through two District mayors, two trips to the International Council of Shopping Centers conference and one financial crisis. Via e-mail from her new home in Germany, she offered some lessons learned from her work.
What were a few key turning points that allowed NoMa to evolve?
In one week in April 2008, we landed two major anchor tenants — the new National Public Radio headquarters and 600,000 square feet for the Department of Justice, which put us on the map for a lot of people.
Second, Constitution Square. Nothing accelerates neighborhood development better than a mega, mixed-used project delivering 1.6 million square feet of office, hotel, residential and retail space. It brought a critical mass of people and retail amenities to the heart of NoMa. The most important component of that project was the 50,000 square-foot Harris Teeter. It has become a magnet for the neighborhood and a huge selling point to new residents.
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