Tishman Speyer has secured $150 million in construction financing from RBC Capital Markets for the redevelopment of Mazza Gallerie in Washington, DC. The project, partnered with 3XN architects, involves transforming the outdated shopping mall into a mixed-use development featuring around 320 rental apartments including affordable units and 90,000 square feet of retail space.
The redevelopment will include amenities such as a pool, co-working spaces and a health center while 20,000 square feet of new ground-floor retail space will be added. The project is expected to be completed by 2025 while maintaining the existing below-grade concourse retail and parking structure.
This ambitious transformation presents an exciting opportunity for Tishman Speyer to create an innovative mixed use development at Mazza Gallerie that provides housing options along with commercial services within Washington D.C.. With construction financing now secured from RBC Capital Markets this transformative project is set to become reality by 2025 making it one of many successful projects undertaken by Tishman Speyer across North America
