For Immediate Release: Wednesday, April 17, 2024
Montgomery County Executive Marc Elrich and County Councilmember Marilyn Balcombe will lead ceremonies for the grand opening of SCG Development and Wellington Development’s Seneca Creek Senior Living in Gaithersburg at 10 a.m. on Thursday, April 18.
Seneca Creek Senior Living is located at 19105 Frederick Road in Gaithersburg.
Seneca Creek Senior Living illustrates County Executive Elrich’s commitment to preserving, producing and protecting affordable housing.
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Seneca Creek Senior Living features 111 affordable rental housing units for older adults. The development offers an affordability mix from 30 to 70 percent of the Area Median Income (AMI), with 12 units at 30 percent AMI, 10 units at 50 percent AMI, 78 units at 60 percent AMI and 11 units at 70 percent AMI.
The total development cost is $40,329,342, of which the County provided $7,770,842 in subordinate financing and a PILOT (Payment in lieu of taxes) agreement. The PILOT agreement reduces County real estate taxes for the developers.
The project also utilized 4 percent Federal Low-Income Housing Tax Credits (LIHTC), Freddie Mac-sponsored senior loan financing, State of Maryland financing and a deferral of developer fees.
In addition to Seneca Creek Senior Living, SCG Development developed Momentum at Shady Grove and Silver Creek Senior Apartments, both located in Montgomery County.
WHAT : Grand Opening of Seneca Creek Senior Living
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WHO :
- Montgomery County Executive Marc Elrich
- Montgomery County Councilmember Marilyn Balcombe
- Steve Wilson, SCG Development
WHEN : Thursday, April 18. 10 a.m.
WHERE : Seneca Creek Senior Living, 19105 Frederick Road, Gaithersburg.
PARKING : Parking is available in any space in the building parking lot. Signage will be placed to direct drivers. Please note that the parking lot wraps around the back of the building.
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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=5804