Affordable Housing Program Revised; Montgomery Council Reacts to Shortage
The Montgomery County Council approved changes yesterday in the county's affordable housing program designed to create more moderately priced homes in a region where a hot real estate market has shut out many renters and buyers.</br></br>The changes, the first major overhaul of the program in 30 years, could affect development particularly in downtown areas of Bethesda, Silver Spring, Wheaton and Rockville. To make it easier for developers to get financing for high-rises with below-market units, the council voted to allow more units on available land by relaxing height restrictions and green space requirements.</br></br>The council also voted to increase the amount of time that below- market housing is required to remain in the program, so that the county can retain as many affordable units as possible as developable land dwindles. Rental units will have to remain in the program for 99 years, up from 20 years, and for-sale units will have to remain 30 years, up from 10 years.</br></br>Council President Steven A. Silverman (D-At Large) said downtown high-rises with moderately priced units might be one or two stories higher under the new rules.</br></br>"I think people will accept a couple more floors on a building if that means more affordable housing in Montgomery County," Silverman said. "The people who work in Montgomery County ought to have a fair shot at living in Montgomery County."