New Carrollton Metro development lands $54M in new financing

Urban Atlantic has secured $54.25 million from EagleBank to construct The Margaux, a 291-unit workforce housing project near the New Carrollton Metro station. This brings the project’s total financing to $80 million after the developer received $25.4 million in low-rate loans from the Amazon Housing Equity fund. Urban Atlantic is constructing The Margaux as part of a 2.3 million-square-foot mixed-use development, to include a new Metro office building, on property owned by the Washington Metropolitan Area Transit Authority.