Economic Impact

Architectural Rendering
View from Park
Architectural Rendering
View from C&O Canal Tow Path
Architectural Rendering
View from Rock Creek Park
Architectural Rendering
View from 29th Street

The Georgetown Company and The Levy Group enlisted highly regarded Partners for Economic Solutions to calculate the economic impact of the proposed West Heating Plant redevelopment.

Major Economic Benefits to City

The West Heating Plant project is projected to generate:

$187 Million

Annual tax revenues equivalent to $187 million to the District government over the first 30 years of operations, calculated in constant 2017 dollars

$18 Million

The project will build a one-acre park with an estimated value of $18 million at no cost to taxpayers.


$16.4 Million

$16.4 million in total revenues (constant 2017 dollars) to the District from real estate transfer and recordation taxes, construction and other worker income taxes, sales and use taxes, and property taxes.

$200 Million

These additional revenues could support $200 million in bond capacity if the District chose to commit them for bond repayment.

Tax calculation guidelines provided by Partners for Economic Solutions.

Significant Job Creation

The West Heating Plant has sat idle, generating no revenue or jobs for the community for the past 18 years. Jobs are a key economic driver in the growth of a city and this project generates both high-paying construction jobs and long-term service positions.

  • Construction of the building and park will generate the equivalent of 247 full-time jobs in construction, architecture and engineering and other related fields. As these workers spend their paychecks, they support jobs in other parts of the economy, including housing, retail, transportation, services and government.
  • Each construction job generates an estimated 0.33 jobs elsewhere in the economy. Redevelopment of the West Heating Plant will support an additional 82 jobs for a total of 329 jobs during each of the two years of construction.
  • At completion, the condominiums’ operations will generate the equivalent of 60 permanent jobs, including managers, administrators, building engineers, front-desk clerks/concierges, doormen, parking valets, security, housekeepers and park maintenance workers, in addition to spin-off jobs.

Public Park

One of the project's standout amenities is a one-acre public park along Rock Creek directly south of the new residences. At no cost to the taxpayers,the District will receive a park valued at $18 million.

  • The development will also fund a new pedestrian bridge, providing pedestrians and cyclists a direct link between Rock Creek Park and the Georgetown Waterfront Park. The bridge will fulfill a long-standing goal for the Georgetown Community and the National Park Service.
  • Residence owners will maintain the park, relieving the District of an on-going funding obligation.
  • Though difficult to quantify, these public park amenities are likely to enhance the value of nearby properties, generating even higher real property tax revenues to the District.

Affordable Housing

The West Heating Plant project will help create at least 500 units of affordable housing through grants to Local Initiatives Support Corporation (LISC D.C.) and the D.C. Housing Production Trust Fund.

For additional information, download the entire economic impact brochure.