The Laureate is a model for public-private partnerships to develop best-in-class, mixed-income housing. This new luxury multifamily building is the result of a unique public-private
partnership between EYA, Bozzuto and Housing Opportunities Commission of Montgomery County (HOC) and is the first development to utilize the County’s innovative new Housing Production Fund (HPF), created to develop high quality affordable housing. Of the 268 units, 30 percent of the units are designated as affordable (25 percent Moderately Priced Dwelling Units (MPDU) at 50% AMI and 5 percent Workforce at 65% AMI). These affordable units are indistinguishable from the market rate units with the same high-quality features and finishes. The Laureate offers studio, one-, two-, and three-bedroom apartments. All three-bedrooms are income-restricted to better serve low- and moderate-income families.

Named for Poet Laureates over the course of Maryland’s history, the building offers best-in-class amenities, including a fitness center, yoga studio, outdoor pool, grilling stations with seating areas, clubroom, children’s playroom and more. There also is 23,000 SF of ground level retail featuring a CVS, and nearly 7,400 SF of office space that houses an HOC customer service center. The building was designed to National Green Building Standard Silver standards and is a short walk from the Shady Grove metro station and a Capital Bike Share.

The goals for The Laureate were to create a vibrant, high-opportunity, mixed-income neighborhood adjacent to Metro that connects low- and moderate-income households to employment, education, transit and more. All of this was achieved through an innovative financing and development structure that can serve as a model for public-private partnerships. 

Location: Rockville, Maryland
Developers: Housing Opportunities Commission of Montgomery County (HOC), EYA Multifamily LLC, Bozzuto Development Company