Montgomery County announced that the county’s MontcoForward Loan Program recently closed on its first housing affordability loan. The county, in partnership with the Walters Group LLC, issued a loan to support a 60-unit multifamily development in Upper Gwynedd Township. The MontcoForward Loan Program is designed to provide low-interest loans to support projects that provide significant economic growth opportunity and positive community impacts. It includes loans to small businesses and new industries for land acquisition, equipment, agriculture construction, and now accessible housing developments. The Upper Gwynedd project, called Pennbrook Parkway, will encompass all aspects of a transit-oriented design, including proximity to industry and jobs by walking, biking and public transportation. Businesses and developers are invited to learn more about the MontcoForward Loan Program.
Source: Main Line Media News; 3/25/2024