City of Gaithersburg and Bozzuto Homes, Inc. Team to Provide
New Community of Affordably Priced Homes in Olde Towne

Greenbelt, MD...Thanks to the combined efforts of Bozzuto Homes, Inc. and the City of Gaithersburg, the city’s Olde Towne neighborhood is getting an important commodity: a brand new community of 45 affordably priced town homes.

The Carriage Homes at Summit Crossing represents a key component of Olde Towne’s second phase of revitalization. Ranging in size from approximately 1,600 square feet to 2,300 square feet; the town homes are priced from $310,000. To further enhance their affordability, the City of Gaithersburg is offering grants in amounts ranging from $6,000 to $7,500 for use toward the down payment and closing costs. Bozzuto Homes will then match the grant amount, doubling the economic benefit to buyers.

“Making housing affordable has always been part of our corporate agenda,” said Tom Baum, President of Bozzuto Homes, Inc., “And we’ve challenged ourselves to be more aggressive in identifying ways to provide more affordably priced product in quality locations. This partnering effort with the city of Gaithersburg enables us to provide attractive economic benefits for homebuyers in an area that is not only experiencing new vitality, but also offers the convenience of a MARC train station.”

Nine of the Summit Crossing town homes feature four levels of living space, including a versatile loft area. Thirty-six of the town homes will offer two-story living and are configured in the popular stacked town home style, with a pair of homes visually creating the impression of a single town home. Every home has been designed with 9-foot ceiling heights and includes a garage; some homes also include bay windows or dramatic half-moon windows, and select four-story plans offer inviting wrap-around double porches.

Gaithersburg’s Olde Towne is the historic heart of a city recognized as one of the 20 “Best Places to Live” by Money Magazine, and one of the nation’s “Best Places to Raise Your Family” by travel guide publisher Frommer.

Active throughout the Greater Washington-Baltimore metropolitan region, Bozzuto Homes Inc. is one of the companies of The Bozzuto Group organization. Established in 1988, The Bozzuto Group provides a broad range of real estate services -- including development, management, homebuilding, landscaping, and construction -- for third party owners as well as for its own account. The company has been recognized with some of the industry’s highest honors including the national Pillars of the Industry Award for Multifamily Development Firm of the Year (2003); regional honors include Builder of the Year (five times), Environmental Builder of the Year and Environmental Developer of the Year.