Seneca Village Apartments is a 58-building, 684-unit affordable multifamily property located at 750 Clopper Rd. in Gaithersburg. It was originally constructed in 1973 and sits on 40 acres of land. With funding from the Green Bank, in partnership with Virginia Community Capital and NYCEEC, Seneca Village Apartments will install new energy-efficient roofs with reflective coating and a 2.18 MW rooftop solar array by Patuxent and Solar Energy Services. The $11.4 million project is the largest rooftop solar project on a multifamily property in the Montgomery County. The property will save 2,583,535 kWh in energy savings and over $300,000 in annual savings.
“A fundamental part of our mission is to support the County’s climate goals of equitable access to clean energy. This project situated in an Equity Emphasis Area and on an affordable housing property is such an example,” says Tom Deyo, CEO of Montgomery County Green Bank. “Further, this collaboration with Virginia Community Capital and NYCEEC is the perfect depiction of how the Montgomery County Green Bank leverages capital and innovative partnerships to facilitate clean energy projects in the County.”
“The team at the Montgomery County Green Bank shares our vision to improve access to renewable energy and affordable housing within the region. We look forward to continuing a strong partnership with the Montgomery County Green Bank and the opportunity to collaborate with like-minded organizations dedicated to mission and impact,” says Virginia Community Capital President & CEO, Amir Kirkwood.
The Green Bank—in partnership with Virginia Community Capital and NYCEEC—provided an Innovative solution for a financial structure that allows for deploying clean energy on multifamily properties with Fannie/Freddie mortgages. Multifamily properties with Fannie/Freddie mortgages represent over 50% of the market. This structure will catalyze significantly more clean energy transactions. Due to the Montgomery County Green Bank’s and partners’ participation, Seneca Village Apartments received a blended interest rate on the loan, which was for $5 million.
On Friday morning at 10:59 a.m., officers responded to Wells Fargo Bank at 750 Walker Road in Great Falls, VA for an armed bank robbery. The suspect entered the bank,…
Nearly a year ago we let you know that TJ Maxx, the discount department store that sells clothing, shoes, jewelry, and home décor would be one of Burtonsville Crossing’s new tenants…
The Halal Guys at 522 N Frederick Ave in the Gaithersburg Square shopping center has permanently closed.
The Maryland-National Capital Park Police is asking for help naming the newest member of its K9 rescue unit.
AC Milan Academy is hosting a soccer camp at Maryland Soccerplex from March 1st through March 3rd for girls and boys aged 5 to 16 from any club who want to develop their soccer skills and learn the unique methodology of AC Milan directly from AC Milan coaches.
March 1st (Friday) 6pm-7:30pm
March 2nd (Saturday) 6pm-7:30pm
March 3rd (Sunday) 10:30am -12pm and 3:30pm-5pm
Location:18031 Central Park Cir, Boyds, MD 20841
Price: $349 + AC Milan Junior Camp Kit