(WASHINGTON, DC) – Mayor Vincent C. Gray today announced the selection of Hines-Urban Atlantic-Triden Joint Venture to exclusively negotiate with the District of Columbia to acquire the surplus portion of the former Walter Reed Army Medical Center site. Pursuant to the terms of the Request For Proposals, the Office of the Deputy Mayor for Planning and Economic Development and the developer will negotiate to enter into an Exclusive Rights Agreement (ERA), which will describe the due diligence activities that the team will be required to perform in preparation for, and as a condition of, entering into a Land Disposition Agreement (LDA) with the District.
“Moving the Walter Reed redevelopment project forward and bringing new housing, amenities and jobs to the District are among my top priorities, and this team will help us accomplish that,” said Mayor Gray. “The Hines-Urban Atlantic-Triden joint venture brings a wealth of experience to the task of getting this long-awaited project done.”
The Hines-Urban Atlantic-Triden team was selected based on the strength and compatibility of their plan with the Reuse and Small Area Plans; their approach and ability to provide quality community benefits; their breadth of development and financial experience on complicated sites; and their development and financing capability.
“We have reached a major milestone in redeveloping the Walter Reed site. Our office is eager for the Army to convey the site, so the District can work with the development team to create jobs, retail and housing opportunities for District residents,” said Deputy Mayor of Planning and Economic Development Victor L. Hoskins. “My staff and I look forward to working with the selected team to continue the negotiation process.”
The master developers Hines and Urban Atlantic, each accomplished and respected real-estate firms, together bring unparalleled experience in developing, managing, and leasing high-quality architecturally significant projects in the District, nationally and globally. Triden Development Group is also a well-respected local Certified Business Enterprise firm that is part of Hines’ team for the landmark CityCenterDC project and other large-scale projects in the city.
The Walter Reed Army Medical Center served patients on its District campus from May 1, 1909, until September 2011. The medical center, named in honor of Major Walter Reed, M.D., was founded on principles that would integrate patient care, teaching and research. In nine decades, the facility grew into an innovative medical complex that treated many thousands of our nation’s wounded warriors.
As a result of the Base Realignment and Closure process, which facilitated the downsizing and restructuring of United States military operations, the federal government declared 66.57 acres on the main post of the Walter Reed Army Medical Center as surplus property, thereby making it available to the District’s local redevelopment authority for re-use.
For more information on the Walter Reed Local Redevelopment Authority, please visit http://www.walterreedlra.com.
Media Contact:
Chanda Washington (DMPED), (202) 727-6365