County Provides More Than $6 Million Funding to Preserve Affordable Housing in Takoma Park
(TAKOMA PARK - October 17, 2008) - County officials today joined with U.S. Senator Benjamin Cardin (D-MD) and the Montgomery Housing Partnership (MHP) to celebrate the reopening of the Merrimac Garden Apartments, located on University Boulevard in Takoma Park. Merrimac Gardens is part of the Takoma Park Preservation Project, which is the renovation of 75 rental units in four apartment buildings on three sites. The County’s Housing Initiative Fund (HIF) contributed $6,420,080 to the project in order to preserve the buildings as affordable housing. Montgomery Housing Partnership obtained additional funding from state, federal and private sources for a total of $14,789,676.
The County purchased Merrimac Gardens through the right of first refusal and sold it to Montgomery Housing Partnership. The other complexes,The Crossroads at Flower and the Sligo View Apartments were purchased directly by MHP. Of the 75 units in the three properties, seven units serve households at or below 40 percent of the area median income (AMI), 10 units are serving households at 50 percent AMI, 50 units are at 60 percent AMI and eight units are offered as market-rate rentals.
“The Takoma Park Preservation Project is a perfect example of the County using the resources of the Housing Initiative Fund to preserve affordable housing in our community,” said Richard Y. Nelson, Jr., director of the County’s Department of Housing and Community Affairs (DHCA). “Montgomery Housing Partnership spent two years revitalizing the properties and breathed new life into the failing buildings.”
County Executive Isiah Leggett has made affordable housing a top agenda item and has addressed the crisis in a variety of ways, such as appointmenting an Affordable Housing Task Force and increasing the resources available to the Housing Initiative Fund to $54 million in Fiscal Year 2009. Through leveraging County bonds, the total available will be $80 million. Leggett also expanded the County’s right of first refusal to purchase rental housing constructed since 1981 to preserve its affordability.
At Merrimac Gardens, renovations included new kitchen appliances, cabinetry and flooring, new air conditioning, upgraded electrical services and new bathroom vanities, toilets and flooring. At The Crossroads at Flower, improvements include air conditioning and electrical system upgrades, kitchen appliances, cabinetry and flooring replacement and bathroom fixture replacement. At Sligo View Apartments, renovations include elevator repair, window replacement, a new heating and air conditioning (HVAC) system, and new plumbing and electrical systems. The project has numerous “green” features, which make the buildings more efficient while saving residents money on utility costs. The projected completion date for the four buildings is November 2008.
County officials today joined with U.S. Senator Benjamin Cardin (D-MD) and the Montgomery Housing Partnership (MHP) to celebrate the reopening of the Merrimac Garden Apartments, located on University Boulevard in Takoma Park. Merrimac Gardens is part of the Takoma Park Preservation Project, which is the renovation of 75 rental units in four apartment buildings on three sites. The County’s Housing Initiative Fund (HIF) contributed $6,420,080 to the project in order to preserve the buildings as affordable housing. Montgomery Housing Partnership obtained additional funding from state, federal and private sources for a total of $14,789,676.
The County purchased Merrimac Gardens through the right of first refusal and sold it to Montgomery Housing Partnership. The other complexes,The Crossroads at Flower and the Sligo View Apartments were purchased directly by MHP. Of the 75 units in the three properties, seven units serve households at or below 40 percent of the area median income (AMI), 10 units are serving households at 50 percent AMI, 50 units are at 60 percent AMI and eight units are offered as market-rate rentals.
“The Takoma Park Preservation Project is a perfect example of the County using the resources of the Housing Initiative Fund to preserve affordable housing in our community,” said Richard Y. Nelson, Jr., director of the County’s Department of Housing and Community Affairs (DHCA). “Montgomery Housing Partnership spent two years revitalizing the properties and breathed new life into the failing buildings.”
County Executive Isiah Leggett has made affordable housing a top agenda item and has addressed the crisis in a variety of ways, such as appointmenting an Affordable Housing Task Force and increasing the resources available to the Housing Initiative Fund to $54 million in Fiscal Year 2009. Through leveraging County bonds, the total available will be $80 million. Leggett also expanded the County’s right of first refusal to purchase rental housing constructed since 1981 to preserve its affordability.
At Merrimac Gardens, renovations included new kitchen appliances, cabinetry and flooring, new air conditioning, upgraded electrical services and new bathroom vanities, toilets and flooring. At The Crossroads at Flower, improvements include air conditioning and electrical system upgrades, kitchen appliances, cabinetry and flooring replacement and bathroom fixture replacement. At Sligo View Apartments, renovations include elevator repair, window replacement, a new heating and air conditioning (HVAC) system, and new plumbing and electrical systems. The project has numerous “green” features, which make the buildings more efficient while saving residents money on utility costs. The projected completion date for the four buildings is November 2008.
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