For Immediate Release: Thursday, October 16, 2025
Project Highlights the Preservation and Development of 217 Affordable Apartments Along the Purple Line
Montgomery County Executive Marc Elrich joined nonprofit housing developer Enterprise Community Development and other community leaders today to celebrate the grand reopening of Park Montgomery and the opening of Park Montgomery West. Park Montgomery is a multifamily affordable housing development located in the Long Branch neighborhood of Silver Spring along the Purple Line corridor. Supported by financing from the Montgomery County Department of Housing and Community Affairs (DHCA) and the federal Low Income Housing Tax Credit (LIHTC) program administered by the State, the project features the preservation of 141 existing affordable housing units (Park Montgomery) and a new development that added an additional 76 affordable units (Park Montgomery West).
“Park Montgomery is a terrific example of how Montgomery County’s investments in housing help keep neighborhoods affordable and open up transit-accessible options for residents,” said County Executive Marc Elrich. “By supporting this project, the County preserved and renovated existing affordable homes near the Purple Line so they weren’t lost to the market. Plus, we added 50% more units to the site, which is less than a quarter mile from the future Piney Branch station. I want to thank our nonprofit partner Enterprise Community Development for making this project a reality, and DHCA and the Maryland Department of Housing and Community Development for providing critical financial support.”
In 2023, DHCA closed a financing agreement that provided $10.6 million in lending to support the preservation and renovation of the 54-year-old, 15-story Park Montgomery building, and the new construction of Park Montgomery West. The County also financed the project through Payment in Lieu of Taxes (PILOT) agreements, with an estimated annual value of $167,912 for Fiscal Year 2025 (FY25).
“Park Montgomery and Park Montgomery West demonstrate how thoughtful redevelopment can preserve affordability while delivering modern, sustainable homes that strengthen neighborhoods,” said Janine Lind, president of Enterprise Community Development. “We’re proud to partner with Montgomery County and our financing and design partners to create a vibrant community that ensures residents can thrive near jobs, transit, and opportunity.”
In addition to County financing, Park Montgomery West received equity through the federal LIHTC program administered by the Maryland Department of Housing and Community Development. The ability to “twin” or simultaneously utilize two LIHTC programs is another key part of the financing for Park Montgomery. Typically, the LIHTC program is utilized for either new construction projects or for renovating existing buildings, but not both. Securing a 9% tax credit for the construction of Park Montgomery West, and a 4% tax credit for financing renovations at Park Montgomery, the twinning of LIHTC creatively combines two separate tax credits to maximize the impact of affordable housing initiatives.
Park Montgomery West was also supported by financing from the Maryland Community Development Administration and will use 28 housing assistance payment vouchers through the Montgomery County Housing Opportunities Commission for both Park Montgomery and Park Montgomery West.
Conveniently located along the developing Purple Line Corridor, the Park Montgomery development will help preserve and meet the increasing demand for transit-oriented affordable housing in the County. The project is located just a quarter mile from the Purple Line’s future Piney Branch station.
Advertisement
All units at Park Montgomery and Park Montgomery West will be affordable to households earning between 30% and 60% of Area Median Income (AMI). The development includes a range of apartment layouts to accommodate multiple household sizes, including:
- 73 one-bedroom units
- 71 two-bedroom units
- 73 three-bedroom units
Applications and additional information for prospective residents are available online for Park Montgomery and Park Montgomery West.
“DHCA recently celebrated the nearly 4,400 affordable units supported by County financing since the start of 2023. The grand reopening of Park Montgomery highlights the significant impact these funds are having in our communities,” DHCA Director Scott Bruton said. “By keeping 141 units affordable, there are families who will not get priced out of the Long Branch neighborhood. By building 76 new affordable units, additional low- and moderate-income households will have a place to call home. DHCA is proud to have provided resources to ensure this project’s completion.”
On Oct. 9, DHCA released its most recent Affordable Housing Pipeline report showing that the number of affordable housing units created or preserved through County financing increased by 87% between Fiscal Year 2023 and Fiscal Year 2025, as the County has bolstered its investments in affordable housing to meet the growing need. Since Fiscal Year 2023, the County’s investments have supported the creation or preservation of 4,397 affordable units.
Related News
- Council President Kate Stewart Holds Briefing Today at 1 p.m. to Discuss Montgomery County’s Process to Fill Upcoming At-Large Councilmember Vacancy – Mocofeed
- Council President Kate Stewart Outlines Montgomery County’s Process to Fill Upcoming At-Large Councilmember Vacancy – Mocofeed
- Councilmember Gabe Albornoz Plans to Step Down from the Montgomery County Council on Dec. 1, 2025 – Mocofeed
Read the original article at mcgov