Washington mayor Muriel Bowser and community members celebrated the groundbreaking two new buildings on Oct. 21 as the former Walter Reed Army Medical Center campus in Northwest Washington is redeveloped.
One of the structures, Kite House at the Parks of Walter Reed, has received $37.38 million in construction financing for 109-unit condominium development with 11,000 rentable square feet of ground-floor retail. JLL Capital markets arranged the funding on behalf ot he borrower, Hines, Urban Atlantic, and Triden Development Group.
Meanwhile, the developers are also building 1155 Dahlia Street, described as a 60-unit upscale co-living project with 21,000 sq. ft. of retail. The structure features “Featuring 248 fully furnished co-living bedrooms, including 38 designated affordable co-living bedrooms, throughout a mix of two, three, four, and five-bedroom units,” Hines said in a statement.With the two residential buildings, Walter Reed Marketplace will include a Whole Foods store, new apartment units and other retail space.
Santander Bank N.A. and Tristate Capital Bank, Inc. are providing the construction financing.
In a Sept. 15 statement, Hines said “1155 Dahlia Street will be the next new construction phase to commence on-site with The Brooks, which includes 89 condominium residences and The Vale, that consists of 301 apartments and 18,000 sq. ft. of retail recently completed; and the Hartley, comprised of 323 units and 60,000 sq. ft. of retail—currently underway.”
“Bridge Investment Group is excited to expand its footprint in this iconic project as part of the master plan for the former Walter Reed complex just north of Washington, D.C. This represents another major milestone for us to provide quality Co-living units within a historic landmark alongside our partners Hines, Triden and Urban Atlantic,” said Bridge Investment Group’s Chief Investment Officer, David Coelho.
“When we go to the drawing board for projects like this, we start by asking ourselves how we can be innovative and ensure that future residents have what they need to be able to live, work and play,” said Deputy Mayor for Planning and Economic Development John Falcicchio. “Today, we are celebrating 1155 Dahlia, which introduces a brand new, distinct co-living concept for residents, the first on the dynamic Walter Reed campus and in the District. It will also get us closer to achieving Mayor Bowser’s bold goal of creating 36,000 new housing units, 12,000 of them affordable, by 2025.”
“1155 Dahlia Street will help diversify the housing stock in Ward 4, drawing new residents, providing more options to existing residents, and easing the scarcity of housing that drives up costs for all community members,” said Ward 4 Council member Janeese Lewis George. “Paired with additional housing, dining options, and retail, this project will add to the vibrancy of our community.”
Torti Gallas Urban is the architect for 1155 Dahlia Street with interior design by Ink + Oro and landscape design by Studio39.
The groundbreaking represents a significant milestone in the redevelopment of the 66-acre former Walter Reed Army Medical Center campus in Northwest Washington. The Parks at Walter Reed redevelopment is the result of a successful community-driven process led by then-Councilmember Bowser and now by Mayor Bowser. In 2016, the U.S. Army transferred 66-acres of the Walter Reed Army Medical Center campus to the District, making way for the development of The Parks at Walter Reed.
