Northern Liberties, Equity Resource Investments Acquire Arbor Crest in Silver Spring, Maryland

SILVER SPRING, Md. — Northern Liberties and Equity Resource Investments have acquired Arbor Crest, an affordable housing active adult community located in Silver Spring. 

Built in 2004, the property totals 80 units for residents age 62 and older. 

Units are reserved for residents earning between 45 and 70 percent of the area median income. As part of the acquisition, Northern Liberties has entered into an agreement with Montgomery County through its payment in lieu of taxes (PILOT) program. All county property taxes will be abated for 20 years in exchange for maintain rent restrictions.