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$44M Silver Spring Senior Housing Opens Doors Nearly Rented

SILVER SPRING, MD-A number of capital sources kicked in financing for the project, including a HUD loan for $15 million.

By Erika Morphy | erikamorphy | | Updated on July 15, 2016
The Bonifant at Silver Spring The Bonifant at Silver Spring

SILVER SPRING, MD-The Bonifant at Silver Spring, a rare urban senior housing community in Silver Spring, has opened its doors with most of the 149 apartments already rented.

The $44 million Bonifant was developed as a public-private partnership between Montgomery County and two co-developers: the Montgomery Housing Partnership, a private nonprofit affordable housing developer, and the Washington DC-based Donohoe Cos.

Montgomery County remains the owner of the land, whose street address is 929 Bonifant St. MHP is long-term owner of the mixed-use property and holds a 77-year lease. The Donohoe Cos. provided entitlement and construction services for the 11-story building’s development.

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