We're grateful for our latest collaboration with Partners for the Common Good and Opportunity Finance Network, which preserves affordable housing at three of our properties in Takoma Park - City of Takoma Park
Preserving Affordable Housing in Takoma Park, Maryland Partners for the Common Good and Opportunity Finance Network, through our joint Economic Justice Partnership Fund, are proud to partner with the Montgomery Housing Partnership (MHP) on a $2.5 million loan to MHP TPP, LLC. This marks our seventh collaboration with MHP and the first through the EJP Fund! Project Highlight: The loan supported MHP, Inc., a non-profit dedicated to affordable housing in high-cost areas. The funds refinanced three apartment complexes in Takoma Park, MD—Sligo View, Merrimac Gardens, and Crossroads at Flower—preserving 75 affordable rental units. Affordable Housing Impact: - 67 units reserved for tenants earning 30-60% of Area Median Income (AMI). - Remaining units offered below market rate, ensuring housing affordability in a high-cost region. This project exemplifies how collaboration between mission-driven organizations can address critical housing needs and promote economic justice. 🔗 Stay connected: https://lnkd.in/ebhrqpBM
