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Grosvenor Americas Provides Financing for Capitol Hill East Development
Grosvenor Americas made a more than $11.7 million commitment to Ditto Residential’s 44-residence Watkins Alley project in Washington, DC’s Capitol Hill East neighborhood. The financing was made through its Structured Development Finance Program.
Watkins Alley will be developed by Ditto Residential in a joint venture with OPaL, LLC, and will include 29 townhomes, 14 condominiums, and one carriage house, together with one level of below-grade parking.
Grosvenor’s Matthew Stein says, “Watkins Alley is a strong fit for our financing portfolio and Ditto Residential is similarly well-aligned with how Grosvenor operates, which emphasizes a long-term commitment to creating needed housing and contributing toward urban vibrancy.”
Watkins Alley is located at 1309 E Street SE near Pennsylvania Avenue, within two blocks of the Potomac Avenue metro station, and a short walk from Barracks Row and Eastern Market.
Construction is set to begin in Spring 2018, and delivery is slated for late 2019.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development