Media Invited!

Event Date: July 29, 2025

Time: 10:00 am – 12:30 pm

Location: 2106 Belvedere Blvd, Silver Spring, MD 20902

Silver Spring, MD (July 9, 2025) – Nonprofit developer MHP announced today it will hold a ribbon-cutting ceremony for The Residences at Forest Glen apartment community in Silver Spring, MD, a $100 million affordable housing preservation and expansion project.

The July 29^th ceremony will feature remarks by Montgomery County Executive Marc Elrich, Maryland Department of Housing and Community Development Secretary Jake Day, MHP President Robert A. Goldman, and other notable speakers.

With 189 affordable apartment homes in a new, modern property, The Residences at Forest Glen more than doubles the previous unit count and serves as the largest total investment in a multifamily affordable apartment property in Montgomery County, MD. All apartments are reserved for those making 60% of area median income (AMI) or less. The project furthers MHP’s mission to preserve and expand affordable housing near public transit lines in the DMV region, preventing displacement of low- and moderate-income residents.

“We are thrilled at the transformative redevelopment of The Residences at Forest Glen,” said MHP President Robert A. Goldman. “Thanks to the vision of our team and the support of many partners, we were able to take a dilapidated property and turn it into a beautiful new building with 189 quality affordable homes within walking distance of the metro.”

The Residences at Forest Glen is located near the I-495 Capital Beltway, the Forest Glen Metro station, and many bus routes, providing connections throughout Montgomery County and Washington, D.C. It includes amenities such as community rooms, a fitness center, courtyards, bike storage, underground parking, landscaping, and more. The onsite community space and expansive playground will enable MHP to run educational and supportive Community Life programs for young residents and their families.

Montgomery County provided major funding for The Residences at Forest Glen. The project aligns with the County’s goal of expanding quality affordable housing, which ultimately fosters healthy communities.

“The Residences at Forest Glen exemplify my Produce–Preserve–Protect approach to affordable housing and our capacity to develop the kind of housing we need,” said Montgomery County Executive Marc Elrich. “In redeveloping this site, we replaced 72 outdated affordable units with 189 affordable modern multifamily homes. Increasing the number of units by more than two and a half times has enabled us to protect affordable housing in a convenient location within Silver Spring, which offers direct access to public transportation. We are creating homes that people can not only afford to stay in, but also want to live in. Each of these new homes is restricted as affordable and includes numerous amenities that make them desirable. This helps foster a community filled with stability, dignity, and opportunity.”

MHP values its partnership with the State of Maryland, another key source of funding for this project.

“The State of Maryland is proud to be a partner in the creation of The Residences at Forest Glen, which will bring modern, energy-efficient, and, most importantly, affordable homes to the heart of Silver Spring,” said Maryland Department of Housing and Community Development Secretary Jake Day. “This community exemplifies our goal to build housing where it’s needed and where it makes sense – near transit, jobs, and services – through intentional and impactful investment that addresses our state’s housing shortage and spurs Maryland’s economic growth.”

MHP could not achieve this major accomplishment without the support of numerous investors and philanthropic partners. The project’s banking partner is J.P. Morgan.

“The Residences at Forest Glen preserves and enhances the supply of quality homes in desirable locations for Montgomery County families,” said Jordan Bishop, Executive Director, J.P. Morgan Community Development Banking. “We are proud to support MHP in creating a community where residents can thrive.”

The full list of funding and major philanthropic partners includes Montgomery County Department of Housing & Community Affairs, State of Maryland DHCD, J.P. Morgan, BWE, Enterprise, Capital One, Metropolitan Washington Council of Governments, and TD Charitable Foundation. Project partners include Grimm and Parker; Bozzuto Construction; Macris, Hendricks & Glascock; Habitat America and BCI Consulting.

Discover more details about the event and property at: https://mhpartners.org/residences-at-forest-glen-ribbon-cutting/