Maryland Closes $23 Million Financing for 77 More Homes for Homeless Veterans

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Maryland has closed more than $23 million in financing for 77 additional apartments serving veterans and their families who have experienced, or are at risk of, homelessness. The expansion will more than double the housing capacity at HELP Perry Point Veterans Village in Cecil County, according to an October 23 announcement from the state’s housing department.

The new homes are planned for the campus of the Perry Point Veterans Affairs Medical Center in Perryville, where residents can reach medical care, mental-health services and case management. The Maryland Department of Housing and Community Development said it had closed financing for the second phase. It did not announce a construction completion date.

Financing for the development combines federal Low-Income Housing Tax Credit equity, HOME Investment Partnerships American Rescue Plan funds and bond financing. The department will administer approximately $23 million through its Community Development Administration. That amount is the announced financing package, not a disclosed all-in construction cost.

Spread across 77 planned apartments, the state-administered package represents roughly $299,000 per unit. The calculation helps convey the scale of the commitment, but it cannot establish the cost of building each apartment: the release does not itemize the full development budget, land value or any additional contributions.

Housing beside a VA medical center

The existing veterans village opened in 2018. It sits on the 400-acre Perry Point VA campus near the confluence of the Susquehanna River and Chesapeake Bay. HELP USA sponsors the community, and its nonprofit affiliate HELP Development Corporation is the lead developer for the second phase.

The location is central to the project’s supportive-housing model. Residents are expected to have access to VA services that include mental-health care, psychotherapy, life-skills training and case management. The announcement describes permanent supportive housing for veterans and families facing chronic homelessness or the threat of it; it does not say that all 77 apartments are already leased or occupied.

Maryland also said it provided funding for energy-efficiency measures and expects solar power to supply much of the expanded community’s energy needs. The state did not publish an energy-generation forecast or a quantified operating-cost saving, leaving the eventual financial benefit unmeasured.

HELP Development Corporation President and CEO David Cleghorn described the financing close as a milestone toward adding stable homes. The developer has not released an apartment mix, monthly rents, tenant eligibility schedule or target opening date in the state’s announcement. Those details will determine how quickly the investment translates into available housing.

The new commitment comes amid wider efforts to pair rental assistance with services for people experiencing homelessness. In June, the federal government announced $33 million for more than 2,500 HUD-VASH vouchers nationwide. That program is separate from the Perry Point development financing and should not be added to its budget.

Maryland has also funded other affordable-housing projects this fall. WRE previously reported a $17.6 million state investment to create or preserve 555 affordable homes. The Perry Point expansion targets a narrower population and places the housing beside an existing medical-services campus.

For affordable-housing lenders and developers, the deal illustrates how tax-credit equity, federal housing funds and bond financing can be combined for permanent supportive housing. Whether the project can deliver on its intended capacity will depend on construction, operating support and tenant placements that have yet to be reported.

Source: Maryland Department of Housing and Community Development, October 23, 2026. The announced financing amount is not a published total project cost.