Ribbon Cutting Ceremony for Willow Manor at Fairland
Montgomery County Executive Marc Elrich joined developer (KB Companies) and community leaders for a ribbon-cutting ceremony at an affordable housing residence in Briggs Chaney/Fairland for residents age 62 and older.
Willow Manor at Fairland is a new, $24 million, three-story, 121-unit mixed income apartment building located adjacent to the East County Regional Services Center, the East County Community Recreation Center, and FLASH, a transit service running along US 29 between Burtonsville and downtown Silver Spring.
Funding for the WMF project included approximately $16.6 million from AGM Financial/Wells Fargo, $2.5 million in Maryland DHCD-Rental Housing Funds; $0.6 million in Montgomery County Housing Initiative Funds; $3.1 million in Low Income Housing Tax Credit Equity; and, $1.4 million in Developer Deferred Fees.
This project is a great example of how innovative and thoughtful development can be used as an asset in supporting the senior population through public-private partnership. It will provide residents with a safe place to call home, while offering easy access to affordable, reliable and safe public transportation, a variety of supports and services provided next door by government and various community partners that they need to thrive.