Arcola Towers

1135 University Blvd., Silver Spring, MD 20902

Project Details
Housing Opportunities Commission of Montgomery County (HOC)

Development Program
141 Age-Restricted Units
Renovation of 139,472 SF
12-Story High-Rise Building
Conversion public housing to Project Based Sectional 8 Rental Assistance (PRBA)

Total Development Budget
$39,600,000 Million

Financing Structure
LIHTC Equity (4%)
Tax-Exempt Bonds
Housing Initiative Fund
Deferred Development Fees
Developer’s Equity

Services Provided
Financing
Development
Construction Management