Governor Wes Moore announced Tuesday that through various programs and credits, more than one billion dollars was collectively awarded to creating and preserving affordable rental units across Maryland.
Financing from the Maryland Department of Housing and Community Development state rental housing funds, the Multifamily Bond Program, and energy efficiency programs is going towards 3,025 low-income housing units.
“To ensure our state’s continued economic growth and ease the burden of housing costs for Maryland’s families, seniors, and workers, we must increase housing supply. We need to build more homes, especially affordable homes,” said Department of Housing and Community Development Secretary Jake Day.
The new constructions and upgrades include:
- Addison Park Senior Residences (Capitol Heights, Prince George’s) Units: 293. New construction for seniors. Department Investment: $84,702,670
- Loch Raven Overlook 4% (Towson, Baltimore County) Units: 72. New construction for families. Department Investment: $20,613,142
- New Carrollton Metro Phase I (Hyattsville, Prince George’s)Units: 102. New construction for families. Department Investment: $35,628,714
- Springvale Terrace (Silver Spring, Montgomery) Units: 236. New construction for seniors. Department Investment: $57,025,200
- The Village at Mitchell Pond (Salisbury, Wicomico) Units: 68. Rehabilitation for family units. Department Investment: $18,373,602
Click here to read the rest of the article written by Abby Brady over at Baltimore Fox 45
