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Montgomery County unveils 'More Housing Now' workforce-housing package
Summary
Council members introduced the 'More Housing Now' package to expand housing along transit corridors, fund workforce housing, speed office-to-residential conversions, and double a homeownership fund; unions, teachers and nonprofits urged swift implementation at a press briefing and public comment session.
A Montgomery County council member unveiled the "More Housing Now" workforce-housing package onstage at a county press event, saying the county must act as home prices climb and businesses struggle to recruit staff.
The council member (the event's presenter) said the average detached home price in Montgomery County now exceeds $1,000,000 and said — using the figure cited at the briefing — a household would need roughly $340,000 in income to approach affordability under current market conditions. To respond, the package would: require a 15% workforce-housing component for new residential development along growth corridors via a zoning text amendment (ZTA); establish a $4,000,000 workforce housing opportunity fund to incentivize developers; expedite conversion of vacant office buildings into housing; provide a 25-year property-tax abatement to encourage conversions of office buildings that are more than 50% vacant; and double a county homeownership assistance fund from $4,000,000 to $8,000,000.
"More Housing Now is the most significant workforce housing proposal that…
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