Maryland Gov. Moore announces nearly $37M investment in affordable housing

Maryland Gov. Wes Moore announced Thursday that the state will invest $36.8 million to build and preserve affordable housing across the state. The funding will support 13 projects expected to create or maintain more than 1,200 rental homes for low- and moderate-income residents.
The projects are set to be located in Anne Arundel, Allegany, Baltimore, Charles, Howard, Montgomery, Prince George’s, and St. Mary’s counties, as well as Baltimore City.
“The creation of affordable housing is not just about building shelter, but about building legacy,” Moore, a Democrat, said. “These projects will make it possible for more families to stay in the communities they love, for more seniors to age with dignity, and for more people to live closer to where they work.”
About half of the funding — $17.5 million — comes from the federal Low-Income Housing Tax Credit program, which helps developers finance affordable housing by reducing their tax bills. The rest comes from state and federal housing funds managed by the Maryland Department of Housing and Community Development.
Moore announced the investment at the Capitol Heights Metro station in Prince George’s County, the site of one of the funded projects. The transit-oriented development there will include 146 rental units, according to a Thursday press release by the department.
The initiative is part of Moore’s effort to tackle Maryland’s growing housing shortage. State officials estimate Maryland needs about 96,000 additional homes to meet demand — a gap that continues to widen, according to a housing needs assessment released in July.
Housing and Community Development Secretary Jake Day said the investments advance Moore’s directive to “move faster to build new homes, make housing more affordable, and create a housing market that is more competitive.”
The 13 developments were chosen through a competitive state program that awards tax credits to affordable housing projects. The department said it received 27 applications requesting roughly $36 million in credits.
Under new state rules, at least 15% of the homes funded through the program must be reserved for people experiencing homelessness, and some will provide long-term housing services for residents.
In Baltimore City, one project known as Sojourner Place at the Falls is expected to create 25 units for formerly homeless residents. Another project at the Capitol Heights Metro station is slated to build 146 units.
Maryland Sen. Chris Van Hollen, a Democrat, shared his excitement at the news conference, adding that he believes the investments will help expand affordable housing and relieve pressure on families struggling with rising costs.
“The rising cost of housing weighs heavy on far too many Maryland families,” he said. “Together we will continue working to expand affordable housing options to meet the needs of our communities.”
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