{"id":13907,"date":"2026-07-14T11:30:02","date_gmt":"2026-07-14T15:30:02","guid":{"rendered":"https:\/\/news.maryland.gov\/dhcd\/?p=13907"},"modified":"2026-07-14T11:31:14","modified_gmt":"2026-07-14T15:31:14","slug":"governor-moore-announces-more-than-1-billion-in-awards-for-affordable-rental-housing-construction-in-fiscal-year-2026","status":"publish","type":"post","link":"https:\/\/news.maryland.gov\/dhcd\/2026\/07\/14\/governor-moore-announces-more-than-1-billion-in-awards-for-affordable-rental-housing-construction-in-fiscal-year-2026\/","title":{"rendered":"Governor Moore Announces More Than $1 Billion in Awards for Affordable Rental Housing Construction in Fiscal Year 2026"},"content":{"rendered":"\n

ANNAPOLIS, MD <\/strong>(July 14, 2026) \u2013<\/strong>\u00a0Governor Moore today announced the Maryland Department of Housing and Community Development awarded low-income housing tax credits and provided financing through state rental housing funds, the Multifamily Bond Program, and energy efficiency programs with an estimated value of more than $1 billion to create or preserve 3,025 affordable rental units.<\/p>\n\n\n\n

\u201cAccess to affordable housing is one of the biggest barriers to long term success and security of Marylanders across our state,\u201d said Gov. Moore<\/strong>. \u201cOur administration is heavily investing and leveraging every tool available to build more homes, expand rental housing options and lower the cost of accessible, safe and quality housing for hardworking Marylanders.\u201d<\/p>\n\n\n\n

\u201cTo ensure our state\u2019s continued economic growth and ease the burden of housing costs for Maryland\u2019s families, seniors, and workers, we must increase housing supply. We need to build more homes, especially affordable homes,\u201d said Department of Housing and Community Development Secretary Jake Day.<\/strong> \u201cThe Maryland Department of Housing and Community Development works every day to advance that goal, leading in both policy and practice, and our responsible and targeted investment this year will create 28 affordable communities and more than 3,000 safe, energy-efficient rental homes.\u201d<\/p>\n\n\n\n

Funding was administered by the Department\u2019s Community Development Administration, the state\u2019s housing finance agency. As part of creating and preserving these 3,025 affordable rental units in Fiscal Year 2026, the Department: closed 28 multifamily transactions; issued approximately $500 million in bond financing<\/a>; administered Low Income Housing Tax Credits<\/a> with an estimated equity value of more than $440 million; awarded nearly $79 million through State rental housing programs<\/a>, including Rental Housing Works<\/a>; and provided more than $6.3 million through the EmPOWER program<\/a> to support energy-efficient construction and upgrades.<\/p>\n\n\n\n

The Department\u2019s investment marks the third consecutive year the Moore-Miller administration has invested more than $1 billion in financing to support affordable rental housing development. From State Fiscal Years 2024 to 2026, the Department invested more than $4.4 billion ($4,412,232,627) to create or preserve nearly 10,000 (9,981) affordable rental units.<\/p>\n\n\n\n

The Department\u2019s Fiscal Year 2026 investment surpassed $1 billion with the closing of financing for five projects in the fourth quarter, including Addison Park Senior Residences, a community that recently hosted Governor Moore for its official groundbreaking<\/a>.<\/p>\n\n\n\n

Addison Park Senior Residences<\/strong> (Capitol Heights, Prince George\u2019s)
Units: 293
Type: New Construction
Occupancy: Senior
Sponsor\/Developer: Atlantic Pacific Communities \/ Cober Johnson & Romney
Department Investment: $84,702,670<\/p>\n\n\n\n

Loch Raven Overlook 4%<\/strong> (Towson, Baltimore County)
Units: 72
Type: New Construction
Occupancy: Family
Sponsor\/Developer: Osprey Property Company \/ Pax Development \/ Community Assistance Network
Department Investment: $20,613,142<\/p>\n\n\n\n

New Carrollton Metro Phase I<\/strong> (Hyattsville, Prince George\u2019s)
Units: 102
Type: New Construction
Occupancy: Family
Sponsor\/Developer: Urban Atlantic Development
Department Investment: $35,628,714<\/p>\n\n\n\n

Springvale Terrace<\/strong> (Silver Spring, Montgomery)
Units: 236
Type: New Construction
Occupancy: Senior
Sponsor\/Developer: Enterprise Community Development \/ Seabury Resources for Aging
Department Investment: $57,025,200<\/p>\n\n\n\n

The Village at Mitchell Pond<\/strong> (Salisbury, Wicomico)
Units: 68
Type: Rehabilitation
Occupancy: Family
Sponsor\/Developer: Homes for America
Department Investment: $18,373,602<\/p>\n\n\n\n

For more information about the Maryland Department of Housing and Community Development\u2019s rental financing programs, visit the\u00a0department\u2019s website<\/a>.<\/p>\n\n\n","protected":false},"excerpt":{"rendered":"

ANNAPOLIS, MD (July 14, 2026) \u2013\u00a0Governor Moore today announced the Maryland Department of Housing and Community Development awarded low-income housing tax credits and provided financing through state rental housing funds, the Multifamily Bond Program, and energy efficiency programs with an estimated value of more than $1 billion to create or preserve 3,025 affordable rental units.  Read the Rest…<\/a><\/p>\n","protected":false},"author":119,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[6,216,280,33],"tags":[],"class_list":["post-13907","post","type-post","status-publish","format-standard","hentry","category-affordable-housing","category-bond-finance","category-governor-moore","category-press-releases"],"acf":[],"_links":{"self":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/13907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/users\/119"}],"replies":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/comments?post=13907"}],"version-history":[{"count":2,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/13907\/revisions"}],"predecessor-version":[{"id":13909,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/13907\/revisions\/13909"}],"wp:attachment":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/media?parent=13907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/categories?post=13907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/tags?post=13907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}