QUEENSTOWN, Md., March 27, 2023 /PRNewswire/ — Green Street Housing and TM Associates Development, two of Maryland’s largest affordable rental housing developers, will host a groundbreaking ceremony at the second and third phases of Slippery Hill in Queenstown, Maryland on Wednesday, March 29, 2023.
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. “There is a critical need for affordable housing in communities across Maryland, and the expansion of the Village at Slippery Hill will help address that need in Queen Anne’s County,” said Secretary Day. “Every housing unit that is financed and gets to the point of being built is a demonstrated commitment to the Maryland family that otherwise may not have a safe, secure roof over their head – if any roof at all. State resources have helped support all phases of Slippery Hill’s development, and this groundbreaking celebrates the fact that strong, effective, public-private partnerships are the quickest way to address the housing crisis facing our state.”
The co-developers, Green Street Housing and TM Associates Development, have developed many similar projects across Maryland and are proud of Slippery Hill’s promise to provide affordable housing to its residents and serve as a long-term community asset to Queenstown and the surrounding area.
“Green Street Housing and TM Development are excited to have partnered on another high-quality affordable rental community in Maryland. We’re proud to be Maryland-based developers, utilizing Maryland-based contractors and consultants to build housing for Marylanders,” said Dave Layfield, Principal of Green Street Housing.
The event will be held at Village at Slippery Hill, 210 Fallen Horse Circle, Queenstown, MD at 11:00AM on March 29, 2023. Refreshments will be provided. Parking is available on site.
About Slippery Hill Phase II and Senior
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.
About Green Street Housing
Green Street Housing is a Maryland-based affordable housing developer whose principals have many years of development experience and over $1.0 billion in closed transactions in the region. Green Street Housing takes great pride in its green-building practices which include Energy Star building practices and on-site solar energy production at all its Maryland affordable apartment communities. Learn more at www.greenstreethousing.com.
About TM Associates Development
TM Associates’ history of successes includes new construction and rehabilitation projects. They have enjoyed trusted partnerships with many for-profit and non-profit organizations and continue to work alongside those who share their dedication to the development and preservation of affordable housing communities. They have gained invaluable experience mastering complex projects and have been repeatedly recognized for their green-building efforts.
Contact: Ray Perdue
SOURCE Green Street Housing