Overview

Foundry Square is a 152-home intergenerational apartment community in Frederick, Maryland, developed by SCG Development Partners, the Housing Authority of the City of Frederick, and New Harbor Development. It comprises Foundry Square Family — 56 family homes funded with 9% Low-Income Housing Tax Credits — and Foundry Square Senior, 96 senior homes funded with 4% LIHTC.

Impact & Resident Outcomes

Awarded "Best Community Building" by the Maryland Affordable Housing Coalition, Foundry Square exemplifies affordable housing that blends contemporary design with historical preservation. Apartments offer modern comforts like washers and dryers, open floor plans, Energy Star appliances, and balconies, while shared community spaces foster connections across generations.

Development Highlights

Financing Structure:

Foundry Square Family: 9% LIHTC equity
Foundry Square Senior: 4% LIHTC equity with tax-exempt bonds
Located in an Opportunity Zone

Sustainability Features:

Enterprise Green Communities Certification
Energy Star rating
Rooftop solar panels for eco-friendly living

Community Context

Located in an Opportunity Zone within downtown Frederick's historic district, the development is close to Carroll Creek, specialty shops, museums, and the MARC train station, with frequent festivals enhancing the community's vibrancy. Foundry Square sets a new standard for affordable housing by blending architectural innovation with historical preservation, serving as a model for future developments that value both contemporary design and heritage.