March 14, 2022
KCG Development, a multifamily housing development firm, is proud to announce a new affordable community benefitting Montgomery County seniors. Sandy Spring Village is the adaptive reuse of the Stabler office complex on Meetinghouse Road in historic Sandy Spring, MD. The three existing buildings – Moore, Bentley, and Stabler – will be converted into 56 well-appointed one- and two-bedroom apartment homes for active adults, age 62 and older. The property will also be enhanced by a newly designed ‘pocket park’ serving residents and adjacent neighbors. Rents will vary between 40 and 60 percent of the area’s median income, which is $129,000 for a family of four.
Sandy Spring Village aligns with the County’s vision for the adaptive reuse and conversion of underutilized existing buildings into housing. More importantly, it responds to the County’s expressed need for high quality, affordable senior housing.
Project Partners include Moseley Architects, Commercial Construction, christopher consultants, Avens + Heath, Lerch, Early & Brewer, Pando Alliance and Winthrop and Weinstine.
Financial partners include M&T Bank, Stratford Capital Group, Montgomery County, Montgomery County Housing Opportunities Commission, Montgomery County Department of Housing and Community Affairs (DHCA) and the State of Maryland.
KCG Vice President of Development, Stacy Kaplowitz notes, “As a Montgomery County resident, I am proud to see the County thinking differently about housing options for seniors. It is an honor to be welcomed into the historic Sandy Spring community and we look forward to transforming this property into a vibrant, affordable community for older adults.”
Construction on the property is set to begin in the coming weeks with an expected completion in the first quarter of 2023.
About KCG Development
Since its founding in 2015, KCG has grown to national prominence through a portfolio of nearly 2,200 multifamily rental housing units. The firm’s success is a testament to the team’s integrity, responsiveness, transparency, appetite to collaborate, and, importantly, our vast experience. Throughout their careers, KCG’s executive team has developed, financed, built, and managed more than $3.0 billion of multifamily rental housing.
For more information, visit www.kcgcompanies.com. Follow us on LinkedIn at https://www.linkedin.com/company/kcg-companies/
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