New AFFORDABLE Senior Community Brings 105 Apartments to WHITE OAK AREA OF SILVER SPRING
His Eminence Donald Cardinal Wuerl, Archbishop of Washington, today was joined by Montgomery County Executive Isiah Leggett, other community leaders, and Victory Housing officials for the dedication of Victory Crossing, a new mixed-income community for seniors. Victory Housing, the Archdiocese of Washington’s nonprofit affordable housing development arm, developed the 105-unit community which was made possible in partnership with the Maryland Department of Housing and Community Development, Montgomery County Department of Housing and Community Affairs, Freddie Mac, Capital One, N.A., Hudson Housing Capital, and the Housing Opportunities Commission of Montgomery County.
Victory Crossing was financed in part by a Freddie Mac tax-exempt loan, which is the first time this tool has been used in the State of Maryland, opening a new avenue for future funding of affordable communities. Victory Housing received a Commitment to Excellence Award from the Maryland Department of Housing and Community Development for financing the new community with the Freddie Mac structure. In addition, Montgomery County provided a long-term ground lease to make the project feasible.
“When Pope Francis discussed the pressing need for affordable housing during his September 24, 2015, visit here, he said, ’God is in our midst and his presence spurs us to charity,’” said Cardinal Wuerl. “Today, the fruit of that charity, that love of neighbor, is realized in the dedication and grand opening of Victory Crossing. Driven by the challenges of the Gospel, with this exciting addition the Victory Housing family has grown to offer nearly 2,300 affordable and safe residential units and related social services and amenities to seniors of limited means. The environmentally friendly features of Victory Crossing answer as well the call to be good stewards of our common
home.” Cardinal Wuerl continued, “This latest chapter in an ongoing Catholic story of helping to provide for those in their later years who provided for others in their younger years is a wonderful sign that by working together, we can make an indispensable positive impact in people’s lives. Our prayer is that God will bless the residents of Victory Crossing and that the blessing will extend to all who have worked so conscientiously to bring all of us to this joyful moment.”
Victory Crossing is located at 1090 Milestone Drive, just off Route 29 and New Hampshire Avenue in the White Oak area of Silver Spring. The location offers residents easy access to the White Oak Shopping Center, the Schweinhaut Senior Center and the White Oak Library. The building includes 80 one-bedroom and 25 two-bedroom apartments available to 95 households at or below 40 percent, 50 percent, and 60 percent of Area Median Income. Of these, 49 units have rental assistance so that lower-income seniors only pay 30 percent of their income towards rent. The remaining 10
units are unrestricted. Substantial completion occurred in April and the property is already 70 percent preleased and has applications in process to completely fill the building within a few months.
Victory Crossing includes various amenities, such as a community room with attached theater space, a library, computer room, sun room, fitness room, game room, arts & crafts room, and a wellness room. Victory Crossing was designed to meet LEED Silver standards and includes LED lighting, Energy Star appliances, high efficiency heating and cooling, and energy efficient windows. The units were designed for resident comfort, including luxury plank flooring, carpeting in the bedrooms, generous closet space, and washers and dryers.
“The people who have contributed so much to our county should be able to stay here in the place they’ve worked hard, raised their families and lived their lives,” said Montgomery County Executive Isiah Leggett.
“In addition to providing safe, attractive homes for community residents, projects like Victory Crossing create jobs and positive economic growth, and, under Governor Larry Hogan’s leadership, the State of Maryland is investing in affordable rental housing at unprecedented levels,” said Maryland Department of Housing and Community Development Secretary Kenneth C. Holt. “Victory Crossing is an ideal example of how strong partnerships, innovative financing, and public purpose come together to create high quality housing for Maryland’s seniors.”
“Victory Crossing is a prime example of what we can achieve through strategic public-private partnerships. We are extremely pleased with this partnership that allows HOC to preserve and improve affordable housing in the county using HUD’s Rental Assistance Demonstration program to create a mixed-income, community-connected property,” said HOC Executive Director Stacy Spann.
Based in Rockville, Md., Victory Housing, Inc. currently owns 31 communities comprising 2,280 apartments for seniors and families in Maryland and the District of Columbia. More information about Victory Housing is available at victoryhousing.org.