Walter Reed Development Team Secures Financing For Affordable Senior Housing Project

The team behind the 66-acre Parks at Walter Reed development has landed financing to move forward with the next phase.
Urban Atlantic, along with its partners, announced Monday it closed on $20M of construction financing for a 54-unit affordable assisted living community. 
The financing included $2.4M from the District’s Housing Production Trust Fund and $1.1M in federal tax credits from the D.C. Department of Housing and Community Development. Urban Atlantic’s partners on the project are Triden Development Group, Housing Up and R4 Capital.  
The project is part of the redevelopment of Abrams Hall, a former barracks on the Walter Reed Army Medical Center Campus. Separate…

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