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15 Things You Need to Know This Morning

Washington, D.C. Morning Brief Washington DC
Washington, D.C. Morning Brief
March 20, 2018 Bisnow
15 Things You Need to Know This Morning
Skyland Town Center Development Team
Gets Financing For Residential Portion
EagleBank has provided a loan to the Skyland Town Center development team, which includes WC Smith, The Rappaport Cos., Washington East Foundation and Skyland Urban LLC on behalf of the borrower (Skyland Block 2 Residential, LLC). The loan will provide funds for the construction of the residential portion of the first phase of the Skyland Town Center, comprising 263 multifamily units and a parking structure. It is being provided in cooperation with the construction of an 84,500 SF retail component and a parking structure. The project is located in Ward 7's Hillcrest neighborhood at the prominent intersection of three major local roads: Good Hope Road SE, Naylor Road SE, and Alabama Avenue. EagleBank’s loan will fund the residential building and the two residential parking levels, while the retail portion and two top parking levels will be funded under a separate EB-5 financing.

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