Montgomery County Executive Elrich to Join Montgomery Housing Partnership Leaders on Thursday, Oct. 19, to Celebrate Opening of $38 Million Affordable Housing Renovation Project in Takoma Park
For Immediate Release: Wednesday, October 18, 2023
Thursday, Oct. 19 at 10 a..m.
Thursday, Oct. 19. 10 a.m.
1207-07 Myrtle Ave., Takoma Park
Montgomery County Executive Marc Elrich will join leaders of Montgomery Housing Partnership, Inc. (MHP) for a ribbon-cutting ceremony at the newly renovated Colonnade at the Creek apartment community at 10 a.m. on Thursday, Oct. 19. This grand opening highlights another project that MHP and the County have partnered on as part of an ongoing strategy to preserve and rehabilitate affordable homes along the Purple Line transit corridor. Colonnade at the Creek is located at 1207-07 Myrtle Ave. in Takoma Park.
The ceremony will feature remarks from County Executive Elrich, Bozzuto Vice President of Construction Brian Rennie and MHP President Robert A. Goldman.
Built in 1934 and formerly known as Hillwood Manor, Colonnade at the Creek is a property that consists of 96 units of one-, two-, three- and four-bedroom apartments in brick-framed, three-story buildings. The project cost $38 million and MHP spent more than a year fully renovating the property. With access to transit, major roads and the Sligo Creek trail, the garden-style property provides residents with very good accessibility and quality, modernized, affordable apartment homes.
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The Montgomery County Department of Housing and Community Affairs committed $9,775,000 through the Montgomery County Housing Initiative Fund, along with making a PILOT agreement (Payment in Lieu of Taxes) which waves County real estate taxes on affordable housing units.
Investment partners for the project include the Montgomery County Department of Housing and Community Affairs, State of Maryland Community Development Administration, Bellwether Enterprise, JP Morgan Chase, Freddie Mac, Enterprise Community Partners, NeighborWorks America, National Housing Trust and the City of Takoma Park.
WHAT : Ribbon-cutting and grand opening of Colonnade at the Creek, a $38 million renovation project of a 96-unit apartment building that preserved affordable housing units.
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WHO :
- Montgomery County Executive Marc Elrich
- Bozzuto Vice President of Construction Brian Rennie
- MHP President Robert A. Goldman
WHEN : Thursday, Oct. 19, 10 a.m.-noon
WHERE : 1207-07 Myrtle Ave., Takoma Park
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Release ID: 23-089
Media Contact: Mark Roper 240-962-1743
For updates and link to press release, see here: http://www2.montgomerycountymd.gov/mcgportalapps/Media_Detail.aspx?NaID=5706