1600 block of 30th St.
The (widely expected) news that Amazon picked Crystal City for (half) its second headquarters finally came out this week. This being an extremely niche publication, GM immediately started thinking about the Georgetown angle. And here are some of his wild speculations of how the change will affect our neighborhood:
More Demand? Ehhh..
One of the primary concerns expressed about the possibility of Amazon moving in to any city is how it would drive up housing demand, and thus prices. And like many successful American cities in 2018, DC is already facing a housing affordability crisis. Even with just one half of the HQ2 coming (does that make it HQ1? HQ1.5?) that’s still 25,000 new relatively highly paid employees.
But actually, that’s not quite right. Many if not most of the new jobs will go to people already here. Or people who would otherwise be coming. Put it this way: there are 3.3 million non-farm employees working in the DC area right now. During the year prior to July 2018, there were 77,100 new jobs added. So yes, 25,00 new jobs is not insignificant. But it is not nearly as significant as the hype makes it out to be.
Granted, these will be higher paying jobs than average, and they will be concentrated in a relatively compact area. But the impact will be spread out over both time (it will take a while for Amazon to actually bring all the jobs here) and space (the jobs will be located from Crystal City all the way down to Alexandria, and the employees will likely live all over the place). Continue reading
As you head out (or stay in town) for Thanksgiving next week, it’s important to take some time to think about those that have much less than us to be thankful for. And to turn those thoughts into action, please consider giving to Georgetown Ministry Center.
The shelter, based right in the heart of Georgetown, offer services and programs to the area’s homeless. And in cold winter nights, it offers a place to sleep, which can be a question of life or death.
Georgetown Ministry Center is an effective and efficient charity that makes people’s lives better right here in your own backyard.
If you’re a federal employee who participates in the Combined Federal Campaign, please add the center (CFC# 31661) to your list of charities. Then pass the gravy!
Photo by Andrew Griffith.
Good morning Georgetown, here’s the latest:
- How to shop small in Georgetown, on Small Business Saturday.
- James Allen jewelry store moving into the former Steven Madden space. It’s really amazing that two such incredibly boring names would end up such successful fashion brands.