Construction for a sprawling multi-use development at former Walter Reed Army Medical Center site starts at the top of 2017.
Hines, Urban Atlantic and Triden Development Group, entered into a ground lease with the District of Columbia on Nov. 10 for the development of the historic site’s campus in Northwest.
“The Walter Reed Campus is one of the most transformative development projects in the entire region,” said Brian T. Kenner, the city’s deputy mayor for Planning and Economic Development. “It is also a clear example of the District’s commitment to moving major projects forward in the nation’s capital.”
The project, The Parks at Walter Reed, will be a mixed-use destination totaling over 3.1 million square feet of new construction and reuse of existing historic structures, in recognition of historic preservation goals established by the District.
“Working together, The Parks at Walter Reed will meet the expectations of the community, bringing jobs, affordable housing, economic opportunity and pathways to the middle class for thousands of D.C. residents,” Kenner said.
The Parks at Walter Reed will be completed over a 10- to 15-year period and will include more than 2,100 units of rental and for-sale housing, including 432 affordable units serving veterans, low-income residents, seniors and families.
Grocery retail space, office space, hotel and conference center, medical care space provided by Howard University, two schools and nearly 20 acres of open space for community parks and plazas will also be a part of the structure.
“This master development team combines best-in-class retail, residential and mixed-use experience at national and local levels to bring The Parks at Walter Reed vision to life,” said Hines Senior Managing Director Chuck Watters. “We have deep roots in Washington, D.C., and are committed to honoring the legacy of Walter Reed.”
The District of Columbia selected The Hines/Urban Atlantic/Triden partnership as master developer in November 2013 following a competitive bid process.
The city acquired the site as a result of the Base Realignment and Closure Act [BRAC] of 2005 which led to the U.S. Army vacating the Walter Reed Army Medical Center and relocating its services to the former National Naval Medical Center in Bethesda, Maryland.
The new center, Walter Reed National Military Medical Center in Bethesda, serves the medical needs of both former facilities.
Initial infrastructure work and demolition of the existing 2.6 million-square-foot hospital is scheduled to begin in 2017.
“The Parks at Walter Reed will be a major economic engine for the District of Columbia and, in particular, for the vibrant communities in Ward 4,” said Michael Jones, managing principal of Triden Development Group. “The project will provide much-needed amenities and substantive economic development opportunities to the communities generating thousands of new jobs and significant additional revenues for the city.”