Weekly Real Estate News
Summary
Maryland awarded $17.6 million in tax credits and housing funds to seven projects expected to create or preserve 555 affordable rental homes.
Maryland is directing $17.6 million in state and federal housing resources to seven developments expected to create or preserve 555 affordable rental homes across seven counties and Baltimore City.
The Maryland Department of Housing and Community Development said the package includes $9.56 million in competitive 9% Low-Income Housing Tax Credits and $8 million through rental housing financing programs. The tax credits are expected to generate about $79 million in private equity.
Of the 555 homes, 345 are tied to the competitive awards and another 210 are part of “twinned” projects combining 9% and noncompetitive 4% tax credits. The state received 10 applications requesting roughly $12.9 million in federal tax credits.
The awards also carry a faster-development requirement. Projects had to be properly zoned or have preliminary or final site-plan approval under Maryland’s 2026 Qualified Allocation Plan, and award recipients must reach financial closing within 12 months.
One recipient is Gillis Memorial GrandFamily Apartments in Baltimore’s Park Heights neighborhood, a planned 50-unit affordable development for intergenerational families sponsored by Woda Cooper Companies.
The funding follows Maryland’s broader push to accelerate housing production. WRE News previously reported on the state’s executive actions targeting modular housing and permitting delays.
Applications for Maryland’s second 2026 competitive tax-credit funding round are due Oct. 21.
