An all-workforce multifamily housing community is now open and leasing in the Derwood neighborhood of Rockville, Maryland. Aptly named, Momentum at Shady Grove, the transit-oriented community is situated just steps from the Shady Grove Metro Station on WMATA’s Redline.
We are excited to share DFM Development Services, LLC is providing bond release services as part of the project.
A partnership group made up of Comstock Holding Companies, Inc., and Northern Virginia-based Stratford Capital spearheaded the development. The Maryland Department of Housing and Community Development and the Montgomery County Department of Housing and Community Affairs also provided partial financing for the project.
In a region where affordable housing is at a premium, Momentum at Shady Grove helps ease that predicament. All units are available to qualified residents under the Montgomery County Workforce Housing Program. Tenants with an income at or below 60 percent of Area Median Household Income (AMI) are eligible for residence at Momentum.
The new development features 110-units constructed above a two-story, 145-space parking garage. Community amenities include a private outdoor courtyard, community lounge, catering kitchen, and fitness center. Apartments are primarily one- and two-bedroom units ranging from 700 square feet to nearly 1,100 square feet. The building has earned LEED Certification.
Learn how we can expedite the Bond Management process.
About DFM Development Services, LLC – Bond Management Services
Our experienced Bond Management team has led bond release projects for hundreds of real estate developments across Maryland, Virginia, and the District of Columbia. Our past projects include Insight Property Group’s The Apollo, Brasfield & Gorrie’s Haymarket Medical Center, Equity Residential’s The Veridian, and Brookfield Office Properties’ Reston Crescent. Visit www.dfmdevelopment.com to learn more.
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