A joint venture between Green Street Housing and TM Associates Development broke ground Monday on the Sligo Apartments, a $55.5 million affordable housing development in Silver Spring, Md. Located at 715 Sligo Avenue, the development of the 98-unit property is being financed in part by $25.6 million in Low-Income Housing Tax Credit (LIHTC) equity originated by Capital One (COF), along with $10.5 million in Freddie Mac debt. “At Capital One, we understand that financing the creation and preservation of affordable housing is essential to addressing the ongoing crisis across the nation, and especially in Montgomery County,” Ed Delany, senior capital officer for community finance at Capital One, told Commercial Observer.
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