SILVER SPRING, MD. — Arlington Partnership for Affordable Housing (APAH) has purchased Falkland Chase, a garden-style community in Silver Spring, from JBG Smith. The property currently offers 170 units that are affordable to households earning between 60 and 65 percent of the area median income (AMI). APAH plans to redevelop the Falkland Chase in phases, with the first phase slated to break ground in 2026. At full build-out, the redevelopment will add 1,250 new units to the property. Units will come in one-, two- and three-bedroom layouts.
Montgomery County provided $19.5 million in funding for the project through the Department of Housing and Community Affairs’ Housing Initiative Fund and Affordable Housing Opportunity Fund programs. Housing Partnership Fund, with Woodforest National Bank and National Housing Trust Community Development Fund as participants, provided a private loan of $20.1 million.