Hines, Urban Atlantic and Triden Development Group have closed on one acre at The Parks at Walter Reed to develop Kite House, a 109-unit luxury condominium property in Washington, D.C.
Grosvenor Americas provided financing through its Structured Development Finance program. Bank OZK is providing the construction financing. Construction on Kite House is planned to begin in October with completion of the project in early 2023.
Kite House will offer contemporary and stylish one-, two- and three-bedroom homes elevated by concierge service, convenient coworking space, a modern fitness center, and an inspiring indoor-outdoor lounge. Designed with 109 for-sale units, including nine affordable units, and 11,000 rentable square feet of retail, Kite House is a critical component of the vibrant Marketplace at The Parks, which will feature 90,000 square feet of dining, shopping and entertainment anchored by natural and organic grocer Whole Foods Market, around an active plaza fron
