EagleBank, which describes itself as one of the largest community banks in the Washington, D.C. area, says it has provided financing to Perseus TDC, Transwestern Development Company and Griffin Capital to build a 316-unit apartment complex in Hyattsville, MD.
The 7-story, 313,972 sq. ft., project named Residences at The Six is scheduled to be completed in late summer 2024 inside the Capital Beltway at 6400 America Blvd. in the University Town Center.
The building is designed for National Green Building Standard (NGBS) Gold certification, and will include 2,052 sq. ft. of ground floor retail and a 276-space above grade parking garage.
“As a trusted community lender, EagleBank is committed to delivering tailor-made solutions for our clients across all sectors and markets,” said Ryan Riel, executive vice-president and chief real estate lending officer. “We’re proud to be involved in such an exciting project in the heart of one of Prince George’s County’s most thriving neighborhoods.”
“We are proud that The Six has achieved all three goals of the Metropolitan Washington Council of Governments, which in combination aim to provide much-needed housing in areas considered ‘activity centers,’” said Nihar Shah, vice-president of development at Perseus TDC. “The project also injects capital investment into an area that the federal government has designated as an Opportunity Zone, helping to realize regional and national goals.”