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Washington DC & Mid-Atlantic  + Maryland  + Finance  |  October 3, 2023
Emily Fu
By: Emily Fu

Enterprise Closes Financing on Silver Spring Apartments 

Enterprise Community Development, Inc. has closed on the financing for the development of 76 new affordable apartments, Park Montgomery West, and the renovation of the 141-unit Park Montgomery Apartments, an existing apartment community located at 8860 Piney Branch Road in Silver Spring, Maryland.  

The preservation and addition of transit-oriented affordable housing along the Purple Line and in the wealthiest county in the state utilized Low-Income Housing Tax Credits (LIHTC)– 9% for the new apartments and 4% for the existing building. 

“Park Montgomery and Park Montgomery West add much-needed metro and light rail-accessible affordable housing in Montgomery County, supporting lower income, working-class households with access to their jobs, incredible schools and world-class amenities,” said Rob Fossi, senior vice president of Real Estate Development, Enterprise Community Development.  

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Inside The Story

Rob Fossi

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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