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Hines Partnership Launches Co-Living Project at The Parks at Walter Reed
Hines, Urban Atlantic, and Triden Development Group have closed on just under an acre of land at The Parks at Walter Reed in Washington, DC to develop 1155 Dahlia St., a 60-unit upscale co-living project with 21,000 square feet of retail. Santander Bank N.A. and Tristate Capital Bank, Inc. are providing construction financing.
Featuring 248 fully furnished co-living bedrooms, along with a full-service gym, club room, co-working space, and two outdoor terraces, 1155 Dahlia is one of three buildings comprising Parks Market Place, which will feature Whole Foods Market, plus 60,000 square feet of dining, shopping and entertainment around an active plaza fronting Georgia Avenue. Common will manage the property.
“Co-living allows us to deliver the same high-quality residential development at a more accessible price point to tenants whilst simultaneously offering convenience not seen in conventional multifamily,” said Hines senior managing director Chuck Watters.
- ◦Development
