Get to Know The Sage
The Sage is a mixed-income, mixed-use community that will deliver 413 new energy efficient apartment homes and a new branch of the Montgomery County Public Libraries system within one block of the Shady Grove Metro station.
The Sage represents the third utilization of HOC’s innovative Housing Production Fund (HPF) for construction financing. Of the 413 units at The Sage, 30% are designated as affordable housing, comprising 20% restricted to the 30–50% AMI range and 10% restricted to MPDU levels, while the remaining 70% will operate as market-rate units.
| Key Development Features |
|---|
| Six-story structure offering energy efficient, solar and universal design features |
| 413 studio, one-, two- and three-bedroom apartment homes |
| Great Hall gathering/community room, including an entertainment kitchen and lounge seating |
| State-of-the-art fitness center, pet spa, and engaging children’s play room |
| Outdoor relaxation spaces, including three courtyards, pool and spacious pool deck |
| Located just one block from the Shady Grove Metro station |
| Convenient to Maryland Route 200 (Intercounty Connector) and Interstate Route 270 |
Co-located in The Sage will be a new Montgomery County Public Library, a key element in the implementation of the organization’s 21st Century Library Enhancement project. Construction of The Sage will complete development of the Westside Shady Grove master-planned community and expand the residential, retail and community amenity options in that important transit-accessible neighborhood.
Development Partner
HOC is partnering with EYA to develop The Sage.
Financing Structure
The Sage is the third development to include funding from HOC’S innovative, award-winning Housing Production Fund (HPF). The HPF will provide $35 million in construction financing. The project’s total financing of $195 million in the form of private and public debt as well as other sources including over $145 million in HOC issued tax-exempt bonds insured under the FHA risk-share program and $5 million in Montgomery County Green Bank financing.
Financial partners include Montgomery County Green Bank.
Timeline
Construction is projected to be completed in June 2028, with occupancy and stabilization expected by the end of HOC’s 2029 fiscal year.
