Hines-Led Partnership Acquires Site for 323-Unit Luxury Apartment Project in Washington, D.C.

by Kristin Harlow

WASHINGTON, D.C. — Hines, Urban Atlantic and Triden Development Group, along with joint venture partner Bridge Investment Group, have purchased 1.5 acres at The Parks at Walter Reed in Washington, D.C. to develop The Hartley. Whole Foods Market will anchor the luxury apartment project.

Of The Hartley’s 323 units, 32 will be designated as affordable. The Hartley will also include 58,000 square feet of retail space. It is considered the focal point of Town Center, which will feature 100,000 square feet of dining, shopping and entertainment around an active plaza fronting Georgia Avenue.

The project is part of the master plan for the redevelopment of the former Walter Reed Army Medical Center. Once complete, The Parks at Walter Reed will include more than 3.1 million square feet of new construction and adaptive reuse of existing structures. The 66-acre project will include a mix of green space, 130,000 square feet of retail, approximately 2,100 residential units, office space, ambulatory care by Howard University and two foreign language charter schools.

The Hartley will be the third phase of construction at The Parks at Walter Reed. Previous projects were The Brooks, an 89-unit condo development, and The Vale, a 301-unit apartment project currently underway with 18,000 square feet of retail space.

Santander Bank NA and EagleBank are providing development financing for The Hartley. Construction is expected to begin in May with completion slated for early 2022.

Torti Gallas Urban is the architect for The Hartley, while Hickok Cole Lifestyle is the interior designer and Oehme van Sweden is the landscape designer.

Hines is a privately owned global real estate investment firm with 165 developments currently underway worldwide. Urban Atlantic, based in metro Washington, D.C., develops and invests in mixed-use projects. Triden is a master development partner on several local mixed-use projects, including CityCenterDC and The Wharf. Bridge is a privately held real estate investment management firm with $20.1 billion in assets under management.

— Kristin Hiller

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