ENROLLED ORIGINAL
A RESOLUTION
25-234
IN THE COUNCIL OF THE DISTRICT OF COLUMBIA
July 11, 2023
To declare the existence of an emergency with respect to the need to amend the Walter Reed
Development Omnibus Act of 2016 to provide that revenues received from the Developer
as Initial Consideration Payments under the Walter Reed Land and Disposition
Agreement shall, after October 1, 2023, be deposited into the Walter Reed Reinvestment
Fund and issued as a grant to the Developer to pay or reimburse certain costs of job
creation and economic development of or related to the Walter Reed Redevelopment Site.
RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this
resolution may be cited as the “Walter Reed Development Assistance Emergency Declaration
Resolution of 2023”.
Sec. 2. (a) In 2016, the District acquired the former site of the Walter Reed Army
Medical Center from the United States Army for a below-market price of $20 million (paid over
2 years), pursuant to an Economic Development Conveyance Agreement (“EDC Agreement”).
(b) Simultaneously with the execution of the EDC Agreement, the District executed a
Land Disposition Agreement (“LDA”) with TPWR Developer LLC, a joint venture of Hines WR
LLC, UAD Walter Reed LLC (Urban Atlantic) and Triden Development Group, LLC, as master
developer (defined as the “Developer” in D.C. Official Code § 2-1227.01(6)).
(c) Pursuant to the LDA, the District transferred the Walter Reed site to the Developer for
$25 million in Initial Consideration Payments, to be paid in installments over 7 years, and other
financial and non-financial obligations.
(d) The original master development budget has experienced significant deviations driven
by a combination of historic cost escalations, depressed vertical component land values
following the Covid-19 pandemic and interest rate increases, and increased public infrastructure
scope requirements.
(e) To fully fund the revised master development budget and continue timely construction
of the remaining critical project infrastructure, the Developer is seeking financial assistance from
the District and additional private financing from other sources.
(f) Extensive improvements to road and water/sewer infrastructure are necessary to
construct Main Drive, NW, as an east-west route for pedestrians, bicyclists, and motorists, which
will provide convenient access to Georgia Avenue for residents of the Abrams Hall affordable
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 ENROLLED ORIGINAL
veteran, senior, and senior assisted living apartments that have been constructed on the
development site, and for families traveling to the District of Columbia International School.
Completion of Main Drive, NW, will also mitigate the development’s traffic impacts on
neighbors in Brightwood and Shepherd Park.
(g) In addition, critical north-south connections to and through the development site
remain to be completed.
(h) Under the circumstances, the Council desires to direct the Initial Consideration
Payments to the Walter Reed Reinvestment Fund established under section 6 of the Walter Reed
Development Omnibus Act of 2016, effective May 18, 2016 (D.C. Law 21-119; D.C. Official
Code § 2-1227.04), and to provide financial assistance to the Developer in the form of grants in
the amount of the remaining 2 installments of Initial Consideration Payments.
Sec. 3. The Council determines that the circumstances enumerated in section 2 constitute
emergency circumstances making it necessary that the Walter Reed Development Assistance
Emergency Amendment Act of 2023 be adopted after a single reading.
Sec. 4. This resolution shall take effect immediately.
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