Green Street Housing and Capital One have commenced construction on Sligo Apartments in Silver Spring, MD. This $55 million development aims to provide 98 units of affordable housing, including specialized accommodations for individuals with disabilities. The project’s goal is to promote self-sufficiency through tailored services, educational programs, and job training.
Capital One has contributed $28.9 million in construction debt and $25.6 million in LIHTC equity investment towards this initiative, alongside an additional $10.5 million from Freddie Mac debt loans. According to Ed Delany, Senior Capital Officer for Community Finance at Capital One: “At our organization we recognize the importance of financing the creation and preservation of affordable housing as a crucial step towards addressing the ongoing crisis across the nation.”
