Montgomery Housing Partnership and The Donohoe Companies Break Ground on $44 Million Mixed-Income Apartment Community for Seniors in Downtown Silver Spring

Montgomery Housing Partnership and The Donohoe Companies Break Ground on $44 Million Mixed-Income Apartment Community for Seniors in Downtown Silver Spring

The Bonifant at Silver Spring to offer seniors affordability and convenience

What: Groundbreaking for The Bonifant at Silver Spring, a new mixed-income apartment

complex for seniors aged 62+

When: June 12, 2014, 10:00 a.m. – 12:00 p.m.

Where: 929 Bonifant Street, Silver Spring, MD 20910 (Near Bonifant and Fenton Streets)

Who: Robert Goldman, Montgomery Housing Partnership (MHP)

Peter G. Gartlan, The Donohoe Companies

Isiah Leggett, Montgomery County Executive

Clarence Snuggs, State of Maryland Department of Housing & Community Development

Senator Jamie Raskin, State of Maryland

Delegate Sheila Hixson, State of Maryland

Delegate Tom Hucker, State of Maryland

Nancy Floreen, Montgomery County Council

Silver Spring, Md. – June 11, 2014 – (RealEstateRama) — Seniors who want to live a vibrant lifestyle are going to have a new choice for housing in downtown Silver Spring. The Montgomery Housing Partnership, a private, nonprofit housing developer, and The Donohoe Companies will break ground on The Bonifant at Silver Spring. This is a $44 million development that will result in an 11-story mixed-income, apartment building for active seniors aged 62+, and 6,300 square feet of retail space on the ground floor.

The ground breaking takes place at 10:00 a.m. on June 12, 2014 at 929 Bonifant Street in downtown Silver Spring, next to the new Silver Spring Library.

The Bonifant at Silver Spring will provide 149 mixed-income apartments for seniors seeking independent living. The 10 studios, 119 one-bedroom units, and 20 two-bedroom units will have features specifically designed for seniors.

The Bonifant at Silver Spring will fill a critical need for rental housing for growing numbers of low-income seniors in Silver Spring. The estimated median income for renters age 62+ in Montgomery County is $47,322, far below the County average of $96,985; 24 percent of this subgroup earns less than $25,000 annually.

The project is a joint venture of MHP and Donohoe Development, a for-profit private corporation with high rise development and construction experience. The team was awarded the right to develop this project on County-owned land after responding to a County RFP in 2010.

The Bonifant is expected to be completed by January 2016. More information can be found at http://TheBonifant.com.

About MHP

Montgomery Housing Partnership (MHP) is celebrating 25 years in business. It creates quality, affordable homes in Montgomery County. MHP is a private, nonprofit housing development organization that advances its mission by housing people, empowering families, and strengthening neighborhoods. Through its affiliates, MHP has developed more than 1,400 units of affordable apartments, condos and townhomes. It also works with residents to enhance the vitality of the neighborhoods where affordable housing is located, and implements Community Life Programs for its residents. It is a chartered member of NeighborWorks® America. For more information on MHP, visit www.MHPartners.org.

About The Donohoe Companies

The Donohoe Companies, Inc. is one of the largest real estate companies in the Washington, DC metropolitan region. Donohoe Construction, Donohoe Development, Donohoe Real Estate Services, Donohoe Hospitality and Complete Building Services are all divisions of The Donohoe Companies, Inc., established in 1884 and headquartered in Washington, DC.

For additional questions or information, please contact Natalie Collett at 815-735-6916 or .

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