Developers Secure Financing To Break Ground On $75M Senior Living Project In Montgomery County
August 22, 2019
Jon Banister | Bisnow Washington D.C.
McCaffery and Solera Senior Living announced Thursday they established a partnership with AEW Capital Management and secured a construction loan from M&T Bank to break ground on the 135-unit Modena Reserve at Kensington. The $75M project is expected to break ground this month on a 2-acre site at the intersection of Metropolitan Avenue and St. Paul Street and deliver in early 2021. The 167K SF building is planned to include a 10K SF courtyard, multiple restaurants, a wine bar, a café, a penthouse lounge and a fitness center.
