Enterprise Community Development Inc. has closed on the financing of a $74 million project to develop and renovate 217 affordable housing units in Montgomery County along the proposed Purple Line transit system. This project includes the creation of 76-unit Park Montgomery West building and the renovation of the existing 141-unit Park Montgomery Apartments. Funding for the project includes Low Income Housing Tax Credits, a senior mortgage, and significant funding from Maryland Community Development Administration and Montgomery County Department of Housing and Community Affairs. Additional services such as architecture, engineering, construction, and property management are also being provided.
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