Maryland is cutting a massive check for affordable housing, with officials announcing Tuesday that more than $1 billion has been committed to create and preserve low-cost rental homes across the state. The package is expected to support roughly 3,025 low-income rental units and push construction and rehab projects from Prince George’s County to the Eastern Shore across the finish line.
According to WBFF, the money is flowing through a mix of state rental housing programs, multifamily bond financing, federal low-income housing tax credits, and energy-efficiency grants. The department's Community Development Administration has already closed 28 multifamily transactions and issued about $500 million in bond financing tied to these deals. WBFF also reports the state has administered tax credits with an equity value topping $440 million and kicked in more than $6.3 million through the EmPOWER energy program.
Where the state money comes from
The Maryland Department of Housing and Community Development has been steadily ramping up its affordable housing investments this year, leaning on financing tools that bundle state and federal dollars to move projects from the drawing board to active construction. In a May 11 release, the agency said it invested nearly $200 million in the third quarter of fiscal 2026 to create or preserve about 723 homes, a sign of a growing project pipeline. The Maryland Department of Housing and Community Development noted that those funds were drawn from several programs, including Rental Housing Works, tax-exempt bonds, and Low-Income Housing Tax Credit allocations.
Major projects getting funding
Some big-ticket developments are included in this latest funding wave. Addison Park Senior Residences in Capitol Heights is slated for 293 units with a DHCD investment of about $84.7 million. Loch Raven Overlook in Towson is lined up for 72 units and roughly $20.6 million, while New Carrollton Metro Phase I in Hyattsville will see 102 units supported by about $35.6 million. Springvale Terrace in Silver Spring will receive about $57.0 million for 236 units, and The Village at Mitchell Pond in Salisbury is set for 68 units with an investment of about $18.4 million. These awards mix new construction with rehabilitation work and focus on seniors and family housing in communities with some of the highest needs, as reported by WBFF.
What officials are saying
Gov. Wes Moore is pitching the awards as part of a broader push to tackle housing costs head-on, saying in a statement that “All Marylanders deserve a safe and accessible place to call their own.” Maryland DHCD Secretary Jake Day has framed the strategy as one centered on boosting housing supply to ease pressure on families, workers and seniors, according to a release from the Office of Governor Wes Moore.
Next steps and the credit calendar
According to the department, these latest awards are part of a 2026 push to speed up production and prioritize projects that are ready to break ground. An updated Qualified Allocation Plan will open two application rounds for 9% Low-Income Housing Tax Credits, one in July 2026 and another in October 2026. That schedule gives developers set windows to chase the crucial federal tax credits that help make affordable housing projects financially viable, and officials expect many of the newly announced transactions to move toward construction over the coming year, per Maryland DHCD.
