Urban Atlantic and Triden Development Group Receive  $76M Construction Loan for The Reynard 

Urban Atlantic and Triden Development Group have received a $75.6 million construction loan from J.P. Morgan Chase for the development of The Reynard, a 344-unit apartment community in Washington, D.C. The financing will be utilized for all costs related to the construction and a lease-up of the property before it is eligible for refinancing. CrossHarbor Capital Partners were also involved with the project.

The 300,000-square-foot development is part of The Parks at Walter Reed Reynard, the colossal mixed-use neighborhood consisting of more than 3.1 million square feet of new construction and adaptive reuse of existing historic structures. The 66-acre redevelopment is a collaboration between the District of Columbia and the combined development team of Urban Atlantic, Triden Development Group and Hines.

The development will feature over 16 acres of green space, and the neighborhood will ultimately feature more than 2,200 units of townhomes, condos and apartments; 130,000 square feet of grocery-anchored retail; ambulatory care by Howard University; and a foreign language charter school. The community will include a mix of recreation, arts and hospitality. 

The community will feature 26 income-restricted units for households earning 80 percent or less of area median income. The apartment community will also include a coworking space, a fitness center, a pool and a "maker space" with podcast studios. 

Demolition began on the Reynard in April of this year. No completion date has been specified.