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In August 2021, we committed $21.1m to a joint venture between Urban Atlantic, Hines, and Triden Development Group to fund construction of Kite House at The Parks at Walter Reed, a 66-acre master planned community located in Northwest Washington, D.C. This condominium project has 109-units and 11,385 SF of street-level retail and designed to achieve LEED Silver. Construction began on the 6-storey mixed-use building in late 2021 and the project topped out in 2022.
The project includes 9 non-market rate units, affordable to households that earn 80% of area median income. Kite House is the second for-sale condominium project in the community and will be located within the Parks Marketplace, anchored by Whole Foods.
Designed by Hickok Cole, Kite House amenities include a concierge, co-working area, clubroom courtyard, bike parking and fitness centre with yoga studio.