Maryland Gov. Wes Moore announced that the state will funnel $6.3 million toward affordable housing constructions in Montgomery County on Tuesday.
The move comes after approval of the funding in a recent Board of Public Works meeting. Moore sits on the Board of Public Works along with Treasurer Dereck Davis and Comptroller Brooke Lierman.
The Maryland Department of Housing and Community Development will provide $3.5 million through the Rental Housing Works Program and $2.8 million from the Partnership Rental Housing Program to support two affordable housing projects in Silver Spring.
“Affordable housing for Maryland families and individuals promotes the department’s mission to provide shelter for all and increase the supply of affordable housing in the state,” said Maryland Department of Housing and Community Development Secretary Jake Day in a statement.
Three and a half-million dollars will go toward a new construction of a 141-unit housing development at 8860 Piney Branch Road. Another $2.8 million will support a 56-unit midrise apartment community at 715 Sligo Avenue.
Maryland’s Rental Housing Works program finances projects that create housing for people who earn 60% or less of the area median income.
The Partnership Rental Housing Program finances projects that are occupied by people who earn 50% below the statewide area median income.
“The Rental Housing Works and Partnership Housing Rental programs help ensure all Marylanders have equitable access to housing,” Moore said in a news release.