We are pleased to share that The Laureate received national recognition by being honored with this year’s Multifamily Executive (MFE) Award of Merit for mixed-income housing. Developed in partnership with EYA, Bozzuto and Housing Opportunities Commission of Montgomery County (HOC), The Laureate is a luxury, mixed-income multifamily building in Rockville, MD offering 268 apartment units and state-of-the-art amenities.
The building is the latest addition to the Westside at Shady Grove neighborhood (Westside), which includes townhomes, retail and additional apartments.
The Laureate is the first development ever to utilize Montgomery County's innovative Housing Production Fund (HPF), created to develop high quality affordable housing.
Learn more about The Laureate in this
New York Times article
Of the 268 units, 25% are designated as moderately priced dwelling units (MPDUs) for residents earning 50% of the area median income (AMI), and an additional 5% are designated as workforce units for residents earning 65% AMI. These units are indistinguishable from the market rate units with the same high-quality features and finishes, and all 3-bedroom units are income-restricted.
The Laureate offers premier amenities including a yoga and fitness studio, heated outdoor pool, courtyard featuring grilling stations with seating areas and plantings, clubroom, conference room and work pods, pet washing room, craft room, children’s playroom, bicycle room with repair station and more.
In addition, the building also includes a dedicated parking garage, HOC Service Center and 23,000 SF of ground level retail including a CVS.
The MFE article announcing the award states that the project is “seen as a model for future public-private partnerships” and “brings an impressive mix of affordable, workforce, and market-rate apartments to Rockville, Maryland.” Click here to read the article.
EYA is committed to creating mixed-income housing and has worked with municipalities and organizations across the DMV to develop vibrant new mixed-income neighborhoods. With the proven success of The Laureate, a similar development model is being utilized again by EYA and HOC to complete the final multifamily building in the Westside neighborhood. Plans include a 5-story building featuring 413 residences, with 123 dedicated as affordable units. It is anticipated to break ground next year.
To learn more about EYA's development capabilities and mixed-income projects, click here.