Comstock Holding Companies, Inc. announced a joint venture with SCG Development Holdings, LLC to develop an affordable housing project at 41 Maryland Avenue in Rockville, Md. The property, branded as Momentum @ Rockville Station, is located adjacent to Metro’s Rockville Station on the Red Line.
The project is slated to deliver well over 100 affordable housing units to the community. Comstock acquired the land in late 2023 for approximately $1.5 million. The company will provide development management services to the joint venture and is entitled to provide property management services once the development is ready for occupancy.
This partnership expands Comstock’s footprint in the Rockville Town Center neighborhood, addressing the need for affordable transit-oriented housing. The transaction is expected to close upon approval of construction plans by the City of Rockville, with financing arranged by SCG.
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