EagleBank Provides $25 Million in Construction Financing for Affordable Housing Project in Washington, D.C.

by Kari Lloyd

WASHINGTON, D.C. — EagleBank, a Washington, D.C.-based community bank, has provided $25 million in construction financing to The Community Builders (TCB) and Dantes Partners for a new 100 percent affordable development in the Park View neighborhood of Washington, D.C. The development is part of the larger Park Morton and Bruce Monroe redevelopment plan to transform a 174-unit former public housing property into a mixed-income community of nearly 500 units.

Upon completion, the five-story development will offer 142 units, including 40 public housing replacement units. Planned amenities include a rooftop lounge, meeting spaces, fitness room, enclosed courtyards, bike storage, resident storage, pet grooming station and parking garage with 71 spaces. The developers also plan to install solar panels.

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