36 — August 2026 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
www.marej.com O wners , D evelopers & M anagers In partnership with Seabury Resources for Aging Enterprise Community Dev. redevelops Springvale Terrace
ILVER SPRING, MD — Enterprise Commu- nity Development , in partnership with Seabury Re- sources for Aging , announced the redevelopment of Spring - vale Terrace, an existing senior housing community in Silver Spring. The redevelopment will replace the current aging property with a new, modern, mixed-income community de - signed to better serve low- and moderate-income seniors and support aging in place. Originally built in the 1960s, Springvale Terrace includes 146 units and was among the first properties in the Wash - ington region developed under HUD’s Section 202 program. The planned redevelopment represents an opportunity to reimagine the community for the future, with updated and enlarged apartments, expand - ed amenities and enhanced services designed to support seniors in aging comfortably and independently. The redevelopment will in - clude demolition of the existing structure and construction of a new 236-unit senior communi - ty, to be known as The Spring - vale, significantly increasing the number of homes avail - S
Springvale Terrace
able. The new development will serve residents earning between 30% and 80% of Area Median Income (AMI), with the majority of units affordable to households earning 30% to 60% AMI. The redesigned community will feature one- and two-bed - room apartments with modern amenities, including in-unit washers and dryers, full kitch - ens, energy-efficient appliances and finishes, and high-speed internet. Residents will also benefit from enhanced shared spaces such as a fitness center, library, social and media rooms, and a central outdoor courtyard designed to promote social en - gagement and wellness. Lenders and investors
include government funding sources, such as the US De- partment of Housing and Urban Development, the State of Maryland and Mont- gomery County, Enterprise Community Investments and Capital One. The rede - velopment is also supported by the Housing Opportunities Commission of Montgomery County , with 47 units receiv - ing project-based rental assis - tance through HUD’s Restore- Rebuild Initiative. The redevelopment is being designed by KGD Architecture , with engi - neering by MHG (Macris, Hendricks and Glascock) P.A. , with construction led by Bozzuto. MAREJ
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