Investing for the Future: Upper Georgia Avenue

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While D.C. had a huge population boom in recent years, many have noticed that it’s slowed down. A major reason for this was the fact that there just wasn’t enough development for people who wanted to move in. Another was that it wasn’t clear whether or not the developments were going to increase in value.

Thanks to development in Upper Georgia Avenue, it’s clear that there’s a lot of growth to come.  

What’s Happening on Upper Georgia Avenue

Even if you haven’t been paying attention, it’s likely that you’ve heard some news about the goings-on around Upper Georgia Avenue these days. The whole corridor is facing exciting developments and is being built out to create more residency, amenities, and commercial property.

For the next two decades, you can expect to see many of the changes to have an influence on the area around the former Walter Reed Medical Center. Redevelopments there are promising major changes to the whole region. Developers are planning 3 million square feet of development including new housing, offices, and retail spaces with more than 2,000 apartments and condos. 

The area’s massive footprint includes 20 acres devoted to just open space and parks. The Walter Reed Park is planning to host festivals, outdoor concerts, and even fitness classes for area residents and locals.

For more information, check out the Upper Georgia Avenue Land Development Plan put out by the city’s planning commission. This is the roadmap that developers and owners will be using to make the area a destination that builds the region up and makes it attractive to visitors. Along with economic development assistance and strategic land use plans, expect an engaging and safe area like you’ve never seen before.  

Investing for the Future: Upper Georgia Avenue 1

Grocery Store-Anchored Housing Units and More

In several of the developments in his region, grocery stores and essential amenities anchor the complex. This creates the foundation not only for building a community, but it makes life convenient for the families who are moving into the local area.

Expect a few buildings with hundreds of apartments over tens of thousands of square feet of retail. With all that retail, you might think parking would be a nightmare. Thankfully, most of these developments include hundreds of underground parking spaces in the plans before the ground is broken.

Commercial spaces will also include office space for rent. Given the growth of startups in the region, this is perfect for new residents who are relocating or starting their own business. It’s also good as a remote outpost for larger businesses that are located remotely but who employ a number of people in the D.C. area.

In the last decade, new households lead by people under the age of 35 have boomed. Much of this development is along the city’s Green Line. This has led to lots of new investments and lots of exciting new businesses catering both to long-time residents and the new crop of people arriving.

Breaking Down the Corridor

The corridor is broken into five major zones. Each one has a unique focus and getting to know them will help to guide your investment in them. Here’s the breakdown

Investing for the Future: Upper Georgia Avenue 2

Zone 1, Gateway Eastern Ave to Fern Street

New developments are going to anchor the main intersection at Eastern Ave, creating a visual gateway that leads into the city. There will be mixed-use developments and the users will include residents, visitors, retailers, and lots of businesses. 

The region is focused on improving pedestrian connections and making sure that it’s accessible by bike. With the increased bike infrastructure in the city in recent years, this has become a must. 

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Zone 2, WRAMC

The Walter Reed Army Medical Center from Fern Street to Aspen Street is slated to be reconnected with the community. With lots of activation and even a new parking garage, there’s a possibility for major changes. The redevelopment is going to consider all the security requirements of the Federal tenant while also aiming to enhance livability.

With little pocket parks and greenways all around, expect safety to be the corridor’s priority.

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Zone 3, Piney Branch

From Aspen Street to Rittenhouse, you’ll see more variety. Rather than the redundant establishment, there will be residential development to make things livelier. Expect lots of activity on weekends with music, events, and lots of daytime pedestrian activity to make it a fun pedestrian destination.

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Zone 4, Missouri Avenue 

The region from Rittenhouse Street to Madison is slated to be maintained as a mixed-income area, with dense affordable housing. The goal is to make things accessible to new residents while also maintaining the character for current residents. There’s even a plan for adaptive reuse of historic structures.

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Zone 5, Southern Section

From Madison down to Decatur Street, expect a cleaned up corridor and better building facades. The new developments there will be targeted at infill and renovations. Rather than large-scale redevelopments, the aim is to keep the space serving the neighborhood and focused on what makes residents stick around.

green line metro map

The D.C. Green Line is Where It’s At

Investing in the communities in D.C. has always been a venture that’s sure to bring great returns. Thanks to the development of Upper Georgia Avenue and what’s slated to happen over the course of the next 20 years, lots of people are paying attention more than ever. 

Whether you’re looking for office space, a retail outlet, a residence, or a place to retire, Upper Georgia Avenue is offering all of it. 

For tips on investing in the Purple Line in the DVM or D.C. areas, check out our latest guide.  

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Enhanced Reporting

Your portal includes a selection of extremely useful reports. Reports are available in the “Reports” section, and are distinct from the financial statements. Unlike financial statements which are static records, Reports are dynamic real-time records that will update with current data every time you view them. 

Scroll down to learn more about Reports:

Navigate to the "Reports" module in your portal:

Owner Portal Reports
  • Keep in mind, these reports are dynamic records. They will refresh to display current information every time you view them. 

Enhanced Rent Roll Report:

Enhanced Rent Roll Report
  • The Enhanced Rent Roll Report will show the rent amount, last payment date, move-in date, lease expiration date, and security deposit amount for each of your tenants. 
  • It will also show a portfolio summary with occupancy percentage, vacancy loss, and more!

Unit Comparison Report:

Unit Comparison Report
  • If you own multiple units (or buildings) with Nomadic, you’ll get access to the Unit Comparison Report. 
  • This report enables you to quickly compare financial performance between your units at a glance without toggling between individual reports. 

Income Statement Month-Over-Month:

Income Statement by Month Report
  • The Income Statement Detail – Monthly Report serves as a month-over-month record of portfolio performance. You’ll see itemized income and expense categories and can track monthly. This report will update with fresh data every time you view it. 

Financial Statements

Financial statements will be published to your portal on a monthly basis. The statements are found in your Documents library, and provide a historical record of all financial performance. The statements serve as a snapshot of financial performance over a given period, and are static documents (unlike Reports, the statements do not update/change in real-time). 

Scroll down for more info about the Financial Statements in your Documents library:

The Documents area contains monthly financial statements:

Owner Portal Documents
  • The statements in the Documents are are static documents. They are posted to the portal once a month to serve as a historical record of financial performance. 

Download a statement to see month and YTD financials:

Owner Portal Property Statement

You'll also find a month-over-month operating statement:

Month over Month Statement

Portal Communication Tool

You can use your owner portal to communicate with our team. Any messages you send through the portal will go straight to your Account Manager. When we reply, you’ll get an email notification and you’ll also see the message in your portal next time you log in. 

Here’s an overview of using the communication platform:

Click "Communications" and navigate to "Conversations":

Commincation Dashboard Screenshot
  • The communications module will contain a record of all messages that you create through the portal. 

Click the "New Message" button and send your message:

Owner Portal New Message Screenshot

Responses will show up in the conversation ticket:

Portal Conversation Response Screenshot
  • You’ll get an email notification whenever you get a response, and you’ll also see the message in your portal next time you log in. 

You can reply in-line using the comment box:

Owner Portal Comment

Each conversation will be logged in its entirety:

Portal Conversation Snapshot

Understanding the Ledger

Your portal includes a ledger with all transactions. The ledger is populated with data in real-time as transactions flow through our accounting software. Much of this information is also available in the Reports area, as well as the Statements in your Documents library, but the ledger is the most comprehensive resource for diving into the details. 

Please scroll through the sections below to get a better understanding of how to interpret the ledger. 

By default, transactions are sorted chronologically:

Owner Ledger Dates
  • The date reflected in the lefthand column is the actual transaction date, not the “bill date”. This is the date the transaction was actually processed. 

If you have multiple properties with Nomadic, you'll see the address for each transaction in the "Location" column:

Ledger Property Column
  • You can filter the ledger to look at just one property, all properties, or specific sets of properties. 
  • If you only have one property with us, you’ll just see the ledger for that property. 

The Description column displays the transaction type:

Owner Ledger Description Column
  • BILL: this is an expense transaction, such as for repair costs or management fees.
  • CHARGE: this is a transaction  billed to the tenant, most typically a rent payment. 
  • NACHA EXPORT: this is a credit we processed to your distribution account. This type of transaction is how you get paid! 

The Amount column shows the dollar value of each transaction:

Owner Ledger Amount Column
  • Positive Amounts: if an amount is positive, it reflects a transaction that is payable to you. Typically, this will be a rent payment that we collected from your tenants. On occasion, a positive number could also signify a journal entry or credit adjustment. 
  • Negative Amounts:  if an amount is negative, this is a transaction that is either payable to Nomadic or is an amount that has already been paid to you. Typically this will be for repair costs or management/leasing fees. Owner draws (net distributions into your checking/savings account) also reflect as negative amounts, since they have already been paid to you. 

The Account Balance column shows a sum of positive/negative transactions at a given point in time:

Owner Ledger Account Balance Column
  • Account Balance should always equal zero after a net distribution has been processed. When the balance is zero, this means that all expenses have been paid and you’ve received the remainder as net operating income, leaving a balance of zero (meaning: no one is due any money, as all funds have been distributed appropriately). 

Navigating the Propertyware Owner Portal

Your portal includes some extremely useful features that help you understand your property’s financial performance at a new level, with real-time transparency into every transaction.

Scroll through the snapshots below for an overview of portal navigation! If you need more help or have specific questions about using the portal, you can reach out to your Account Manager any time for a screen share. 

You can filter all info by date range or property:

PW Portal Filters

View a snapshot of income and expenses on your dashboard:

PW Owner Dashboard View

See every transaction in real-time on your ledger:

Owner Portal Ledger View

Statements and forms will be posted to your documents library:

Owner Portal Document Library

View a suite of real-time financial reports:

Portal Reports View

See a running list of all bills, and drill down for more detail:

Owner Portal Bills View

Under Bill Details, you'll find dates/descriptions/amounts and more:

Portal Bill Details

You can also communicate with your Account Manager through the portal:

Owner Portal Communication Tools

How do net distributions work?

Net distributions keep your accounting clean and simple. Each month we’ll collect rent from the tenants, deduct any repair expenses for the previous month and any management/leasing fees for the current month, and credit the remaining net operating income to your account. 

Net Distribution

You’ll receive a statement via email each time a net distribution is processed, and can view all transaction details in your Propertyware owner portal.