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Md. developers adding more affordable housing in Queenstown
//March 27, 2023
Salisbury-based Green Street Housing and Rockville-headquartered TM Associates Development, two of Maryland’s largest affordable rental housing developers, will host a groundbreaking ceremony March 29 at the second and third phases of Slippery Hill in Queenstown.
The new construction includes two additional phases to the existing first phase. The first of the new phases will provide mixed-income, mixed-use residential apartment homes. The third phase will provide senior living apartments.
The property is financed through a Low-Income Housing Tax Credit (LIHTC) investment from Hudson Housing Capital and Bank of America – who is also providing the permanent debt financing, as well as loans from the Maryland Department of Housing and Community Development.
Maryland Department of Housing and Community Development (DHCD) Secretary Jake Day will speak and is expected to discuss how the state of Maryland and DHCD are addressing the affordable housing crisis facing the state.
The co-developers, Green Street Housing and TM Associates Development, have developed many similar projects statewide.
The event will be held at 11 a.m. at Village at Slippery Hill, 210 Fallen Horse Circle in Queenstown. Refreshments will be provided. Parking is available on site.
Slippery Hill, Phase II will be a 66-unit affordable rental apartment community. This second phase of development will be a five-story building that will serve families, offering a mix of one-, two- and three-bedroom apartment homes.
Slippery Hill Senior will be a 54-unit affordable rental apartment community. This third phase of development will be a five-story, elevator building that will serve seniors, offering a mix of one- and two-bedroom apartment homes.
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