(To read more on the multifamily market, click here.)

ROCKVILLE, MD-Work has gotten under way on Legacy at Lincoln Park, a 60-unit mixed-income residential property, which will replace the former Lincoln Terrace Apartments public housing complex. The multifamily community on Moore Drive was the first public housing property here, according to a Montgomery County document from the Lincoln Park History Project.

Mid-City and Rockville Housing plan to bring the first units of Legacy, which will consist of both townhouses and single-family homes, online by the spring of next year. The privately financed project will cost $12 million to realize.

Legacy will offer 20 of its residences at market-rate, while the remaining units will be reserved for those with moderate and low incomes. “This innovative development can serve as a national model for affordable housing, allowing cities and counties to replace aging and blighted public housing projects with strong, stable, mixed-income communities,” Mid-City president Vicki Davis says, adding that this can be achieved through private project financing without any federal, state, or local project subsidies.

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