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Baltimore s Port Covington attracts opportunity zone investment, plus other new details on TIF bond sale
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Weller Development s Port Covington project gets boost as $137 5 million in bonds hit market
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FORT WASHINGTON, Pa., Dec. 15, 2020 (GLOBE NEWSWIRE) Toll Brothers, Inc. (NYSE:TOL) (www.TollBrothers.com), today announced the closing of $160 million in construction financing through a newly formed joint venture between its Toll Brothers Apartment Living® rental subsidiary and GSLM Capital Partners, a venture of L+M Development Partners and Goldman Sachs Urban Investment Group. The financing will be used to develop Phase 1 of a 6.7-acre site in the heart of Washington, D.C., located at the nexus of NoMa, Mount Vernon Triangle and Shaw – three fast growing and vibrant neighborhoods northwest of Union Station. Phase 1 will bring 561 units, approximately 20% of which are affordable, one-acre of public open space and nearly 50,000 square feet of residential amenities.