E nvironmental /G reen B uildings
Real Estate Journal — Environmental/Green Buildings — September 27 - October 10, 2019 — 9B
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M id A tlantic
ULLES, VA — M&T Realty Capital Cor- poration announced Newly constructed affordable housing property in Dulles, Virginia opens its doors M&T Realty Capital Corporation provides certified Green construction project D
complete its vision for Stone Springs. It’s refreshing to work in a county that understands the economic importance of affordable housing’s role in sustaining long term growth. We appreciate all the part- ners and stakeholders in the community, and look forward to our next developments in Loudoun County.” “This project marks a new day in Loudoun County,” said Kim Hart , president of Good Works. “This is the first public- private partnership to receive a loan from the new Loudoun County Housing Trust Fund.” M&T Realty Capital Cor- poration closed a $19,053,100 FHA-insured loan for the con- struction of Stone Springs in 2018, under the U.S. Depart- ment of Housing and Urban Development (HUD) Federal
Housing Authority (FHA) 221(d)(4) program. The fi- nancing structure coupled the FHA-insured loan with short- term tax-exempt bonds issued by the Economic Develop- ment Authority of Loudoun County . The project was also made possible by the support from the Board of Supervisors of Loudoun County through the commitment of a $3,000,000 Housing Trust Fund Loan. The HUD financing was led by managing directors Paula Quigley and Sandra DeFe- lice of M&T Realty Capital Corporation’s Baltimore of- fice, in collaboration with M&T Bank Commercial Bank- ing team leader Timothy Lascko . Quigley also serves as the FHA/HUD program manager for M&T Realty Capital Corporation.
that Stone Springs Apart- ments, a 128-unit certified “green” construction project, celebrated its grand opening on September 12, 2019. The developer partners include Flatiron Partners LLC , Van Metre Companies and Good Works LP . Stone Springs Apartments is comprised of one, two- and three-bedroom units in two four-story, elevator-serviced buildings. “Housing affordability is an acute issue and challenge in advancing and maintaining community resiliency—locally, regionally, nationally, and globally. Providing housing for all income levels is critical to sustainable economic growth
Stone Springs Apartments
oun County at Stone Springs, Poland Hill, and Broadlands." Hollis Fitch , managing member of Flatiron Partners, adds, “Flatiron Partners prides itself in bringing affordable housing to communities in need, and was honored to help Van Metre Companies
and social vitality,” said Roy Barnett , group president, Van Metre Companies . “The Van Metre Companies are proud to be a leader in addressing this issue locally, with con- struction of more than 300 affordable housing units cur- rently planned within Loud-
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