Montgomery County announced Friday it is funding an affordable housing project located at 8856 Piney Branch Road in Silver Spring.
The construction of Park Montgomery West features a new 76-unit rental apartment adjacent to the developing Metro Purple Line.
Montgomery County’s Department of Housing and Community Affairs (DHCA) facilitated $10.6 million in funds, along with a Payment instead of Taxes (PILOT) agreement with Enterprise Community Development, Inc. (ECD) to help bolster the construction of the new apartment buildings.
The County hopes that Park Montgomery West will help to meet the high demand for affordable housing within transit systems.
“Too often, when a neighborhood increases its amenities, the existing residents are forced out because of unaffordable rents,” Montgomery County Executive Marc Elrich said. “As the Purple Line station comes to the neighborhood, this project preserves, improves and expands affordable housing options.
Park Montgomery West is a major stepping-stone for the county’s Park Montgomery Project, which includes major renovations to the existing Park Montgomery building built in 1971.
The plan indicates Park Montgomery will offer 217 total units of affordable housing to households earning between 30 percent and 60 percent of the area’s median income.
“The Park Montgomery project exemplifies our commitment to addressing housing challenges and making substantial progress toward meeting the needs of our diverse population,” DHCA director Scott Bruton said.
The Park Montgomery Project predicts the total cost will be $98.8 million dollars, with 65% of the money dedicated to renovating the existing Park Montgomery Building.
As of July 2023, Metro expects the Purple Line to begin service in spring 2027.
