Mayor Bowser Announces $500,000 in Funding to Support Local and Minority-Owned Businesses at The Parks at Walter Reed

(Washington, DC) – Today, Mayor Muriel Bowser and the Office of the Deputy Mayor for Planning and Economic Development announced a new grant program to support local and minority-owned retail businesses in developing space at The Parks at Walter Reed. Under Mayor Bowser’s leadership, the former Walter Reed Army Medical Center Campus has been transformed into a thriving mixed-use community featuring housing, retail, restaurants, a Whole Foods, and more.

“Our vision for the Parks at Walter Reed is a vibrant, amenity-rich community that creates opportunities for District residents and businesses,” said Mayor Bowser. “This whole process of redeveloping the Walter Reed campus has been driven by the community, and with these grants, we have another way of bringing the local business community into the process and the prosperity that we are creating here.”

The Walter Reed Retail Opportunity Grant Program will support businesses that activate the retail areas on The Parks at Walter Reed campus, support job opportunities, and better improve customer experience. Funds from this grant can be used for design and construction costs, to purchase vital equipment, or to preserve historic spaces while expanding them for retail use. 

“We are excited to see the Walter Reed campus continue to grow and thrive, and we want local businesses to be part of that success,” said Deputy Mayor for Planning and Economic Development Nina Albert. “This grant is one way Mayor Bowser and DMPED are supporting our goal in the Comeback Plan of increasing the share of minority-owned employer businesses here in DC.”

Developed by a partnership of Hines, Urban Atlantic and Triden Development, The Parks at Walter Reed will ultimately include 3.1 million square feet of mixed-use development, feature adaptive reuse of existing historic buildings, new construction, and provide over 20 acres of open space. The campus will also add over 2,200 housing units to the community, of which 20% will be designated as affordable housing.

Last year, The Parks at Walter Reed welcomed the opening of three residential buildings, a Whole Foods, the Marketplace Plaza, Chase Bank, and JINYA, the area’s first sit-down restaurant. An additional six businesses have signed lease agreements. Businesses that have signed a lease or letter of intent to occupy space on the Walter Reed Campus are eligible for grant funding.

Applications for the Walter Reed Retail Opportunity Grant Program close Friday, March 8. To apply visit DMPED’s website.

And to learn more about leasing opportunities at The Parks at Walter Reed, businesses can visit theparksdc.com/leasing.
 

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