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Washington DC & Mid-Atlantic  + Maryland  + Apartments  |  October 19, 2023
Emily Fu
By: Emily Fu

Enterprise, BACDC to Preserve MD Affordable Housing 

Enterprise Community Partners and Bank of America Community Development Company, LLC (BACDC) completed an equity investment to acquire and renovate Falkland Chase South and West, a 268-unit garden-style multifamily property in Silver Spring, Maryland.  

This investment represents the first transaction through the BACDC/Enterprise Middle Income Affordable Preservation Fund, a $150 million initiative aimed at preserving “missing middle” housing. The fund focuses on helping affordable housing providers acquire properties at risk of losing their affordability.  

Falkland Chase South and West offers one- and two-bedroom apartments as well as two- and three-bedroom townhomes, catering to residents with incomes ranging from 65% to 120% of the area median income.  

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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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