December 18, 2018
FOR IMMEDIATE RELEASE:
Washington, DC/Reston, VA – Comstock Holding Companies, Inc., (NASDAQ: CHCI), SGC Development and outgoing Montgomery County Executive Ike Leggett gathered with other partners to commemorate the pending delivery of additional affordable housing units at MOMENTUM.
MOMENTUM is a transit-oriented, multifamily building currently under construction at 16011 Redland Road in Rockville, MD. It is comprised of 110-units built above a two-story garage and is expected to deliver in Q1-2020. There will be a mix of unit sizes from studio through 3-bedroom, and residents will share a gym, community room and outdoor courtyard. All of the units will be available to qualified residents under the Montgomery County Workforce Housing Program.
The financing is provided in part through the Maryland Department of Housing and Community Development and the Montgomery County Department of Housing and Community Affairs. Capital One is the construction lender and Freddie Mac is the permanent lender.
Leggett commended the project team on working with the County to bring Momentum into the community, and the achievement of providing affordable dwelling units in a transit-oriented setting. The building is immediately walkable to the Metro’s Shady Grove station. Citing his twelve-year tenure as County Executive, Leggett acknowledged the hard work and collaboration of the County elected officials, staff and private industry that continues to find solutions to pressing community issues.
Project partners include Comstock, SCG Development, James G. Davis Construction, WDG Architects, Capital One, VIKA, and Klein Hornig.
Former County Executive Ike Leggett speaks about the impact of the Momentum multifamily construction with SCG President Stephen Wilson. Photo courtesy of the Montgomery County Public Information Office
Source: Comstock Holding Companies, Inc.