The developers of the massive Parks at Walter Reed project have lined up financing for two more residential buildings at the heart of its Whole Foods Market-anchored town center, clearing the way for construction to start next month.
The team working on the 3.1 million-square-foot Northwest D.C. development — a partnership of Hines, Urban Atlantic and Triden Development Corp. — said Wednesday it has closed on deals to power the construction of a 109-unit condo building and a 60-unit co-living building designed to become part of a residential and retail-heavy core of the remade Walter Reed campus. With vertical construction getting underway in October, the developers hope to deliver the buildings by early 2023.
Grosvenor Americas and Bank OZK provided financing for the condo building, dubbed Kite House, where the newly constructed portion of Elder Street NW meets Georgia Avenue NW. Santander Bank NA and Tristate Capital Bank Inc. will finance the co-living, known as 1155 Dahlia Street and located just to the south of the condos. Common, which manages other co-living units around D.C. and Northern Virginia, will run the property.