We are pleased to announce that The Laureate has been awarded the 2024 Jack Kemp Award for Excellence in Affordable and Workforce Housing. Presented by the Urban Land Institute (ULI) Terwilliger Center for Housing, this national award recognizes exemplary developments that demonstrate innovation and creativity in expanding affordable and workforce housing opportunities.
The Laureate is the result of a unique joint development between EYA and Bozzuto, in partnership with Housing Opportunities Commission of Montgomery County (HOC). The development provides an innovative approach to public-private partnerships and has set a new standard for excellence in mixed-income multifamily building design.
A three-time Jack Kemp Award winner, EYA also received the award in 2019 for The Lindley—built in partnership with HOC and The Morris and Gwendolyn Cafritz Foundation—and in 2010 for Capitol Quarter—built in partnership with the DC Housing Authority (DCHA) and Department of Housing and Urban Development (HUD).
About The Laureate
The Laureate is a luxury, mixed-income multifamily building in Rockville, MD offering 268 apartment units and state-of-the-art amenities. The building is the latest addition to the Westside at Shady Grove neighborhood (Westside), which includes townhomes, retail and additional apartments. Of the 268 units at The Laureate, 25% are designated as moderately priced dwelling units (MPDUs) for residents earning 50% of the area median income (AMI), and an additional 5% are designated as workforce units for residents earning 65% AMI. These units are indistinguishable from the market rate units with the same high-quality features and finishes, and all 3-bedroom units are income-restricted.
Residents enjoy premiere amenities including a yoga and fitness studio, heated outdoor pool, courtyard featuring grilling stations with seating areas, clubroom, conference room and co-working pods, pet spa with wash stations, multipurpose creative studio, children’s playroom, bicycle room with repair station and more.
In addition, the building also includes a dedicated parking garage, HOC Service Center and 23,000 SF of ground level retail including a CVS.
Innovative Public-Private Partnership & Financing
The Laureate serves as a model for public-private partnerships to develop best-in-class, mixed-income housing. The project provides a unique approach to how public agencies and private companies can work together to address affordable housing shortages across the country by creating vibrant mixed-income communities and use innovative financing solutions for long-term success.
HOC with development partners, EYA and Bozzuto, creatively financed the mixed-income project. HOC is a public agency that develops, administers, and owns affordable housing in Montgomery County. The Laureate was the first development ever to utilize Montgomery County's innovative Housing Production Fund (HPF), created to develop high quality affordable housing. The HPF established $100 million in March 2021 to provide revolving, low-cost, construction-period financing to HOC’s developments.
The HPF is a truly innovative financing tool for the production of new, affordable mixed-income communities for Montgomery County. Public agencies and local officials across the country can look to this model to address affordable housing needs in their areas. This financing model already has proven itself with the success of The Laureate and been recognized by industry leaders as a model that can be replicated by communities across the country to help address their affordable housing needs.
Best-In-Class Mixed-Income Building Design
The Laureate also demonstrates best-in-class mixed-income multifamily design. Thoughtful planning and design went into the building’s orientation, architecture and interior design. The main entrance opens onto a street featuring first level retail. On the opposite side of the building, the first level apartments were designed with walkouts to complement the adjacent townhome design.
The building entrance leads from the lobby through open-concept gathering spaces, with floor-to-ceiling windows overlooking the pool and outdoor seating areas. The interior design is timeless, elegant, and inspired by the collective Laureates designated over the course of Maryland’s history whose contributions through their works have led to the development and appreciation for poetry, arts and the humanities.
The Laureate's over 10,800 SF of amenity spaces are designed to offer welcoming areas for residents to connect, including:
- 1,800 SF top-of-the-line fitness center with yoga studio
- Outdoor heated courtyard pool with adjacent grilling and seating areas
- Multipurpose creative studio
- Children's playroom
- Pet spa with wash stations
- Multiple gathering spaces including cozy fireside loungers, co-working tables and booths with a coffee station, private conference room and library nook
- Luxury club room with bar, kitchenette, billiards table and theater area
With its best-in-class amenities and design focused on creating a strong sense of community among residents, The Laureate establishes a new pinnacle for excellence in mixed-income multifamily building design.
Model for Success: Looking Ahead
With affordable housing shortages across the country, The Laureate provides a successful example of an innovative approach to public-private partnerships while raising the bar for excellence in mixed-income multifamily building design. Factors in the success of this project include:
- Strong partnership between a public housing agency and for-profit developers with a commitment to mixed-income housing
- Innovative financing solutions
- Best-in-class mixed-income multifamily building design, raising the bar for low- to moderate-income housing
The building delivered and reached stabilization ahead of schedule (leased up in 8 months, approximately 32 units per month) with no concessions. And with the proven success of The Laureate, a similar development model is being utilized again by EYA and HOC to complete the final multifamily building in the Westside neighborhood. Plans include a 5-story building featuring 413 residences, with 123 dedicated as affordable units. It is anticipated to break ground early next year.
EYA is committed to creating mixed-income housing and has worked with municipalities and organizations across the DMV to develop vibrant new mixed-income neighborhoods. Click here to learn more about EYA's development capabilities.
Click the links below to read more about The Laureate:
- New York Times article: This is public housing. Just don't call it that.
- NPR article: One possible housing crisis solution? A new kind of public housing for all income levels.