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Washington DC & Mid-Atlantic  + DC Metro  + Apartments  |  September 20, 2024
Jasmine Kilman
By: Jasmine Kilman

$303M in Financing Secured for Hillandale Gateway MXU Project

The Housing Opportunities Commission of Montgomery County (HOC) has closed on more than $303 million in financing for Hillandale Gateway, fully funding a new mixed-income, mixed-use community.

Hillandale Gateway represents the largest investment in residential housing in East County in more than half a century and is being developed in partnership with The Duffie Companies and PS Ventures. It is being constructed to Passive House building standards.

Upon completion, Hillandale Gateway will be among Maryland’s only and the state’s largest passive house multifamily community. Additionally, the Radia at Hillandale Gateway is planned to be Maryland’s first Zero-Net Energy multifamily residential building.

The new development will deliver 463 residential units in two high-rise buildings. The Housing Production Fund (HPF) will provide $35 million in construction financing for the Hillandale development. The HPF is a $100 million revolving loan fund that provides low-cost construction financing for mixed-income, publicly-owned new developments like Hillandale Gateway.

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HOCPS VenturesDuffie Inc.

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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