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New affordable housing project aims to tackle regional crisis

June 13, 2024 | Prince George's County, Maryland



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This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »

New affordable housing project aims to tackle regional crisis
During a recent government meeting, officials discussed significant developments in affordable housing within Prince George's County, focusing on the proposed Highland Park project. This initiative aims to create 137 age-restricted affordable housing units in Landover, with all units designated for individuals earning no more than 60% of the area median income (AMI). Notably, five of these units will be reserved for households earning no more than 50% AMI.

The committee highlighted the financial implications of the project, noting that the adoption of resolution CR 362024 would result in an estimated loss of $427,851 in revenue due to a full waiver of the public safety facility surcharge for fiscal year 2024. This waiver is part of a broader strategy to encourage development in areas with existing or planned mass transit access, which is seen as a cost-effective approach for local governments to provide services to more compact communities.

Council members expressed strong support for the Highland Park project, emphasizing the urgent need for affordable housing in the region, which currently faces a shortage of approximately 320,000 units. The proposed rent for the 60% AMI units is projected at around $1,600 for one-bedroom units and $1,900 for two-bedroom units, while the 50% AMI units are expected to be priced at approximately $1,350.

The meeting concluded with a motion to move forward with the resolution, reflecting a collective commitment to addressing housing needs and enhancing living opportunities for seniors in the community. The project is viewed as a vital step towards alleviating the housing crisis in Prince George's County.

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