Per Montgomery County: Montgomery County made another bold move to expand its number of affordable housing units by providing funding for the construction of Park Montgomery West, a new 76-unit rental apartment building to be built at 8856 Piney Branch Road in Silver Spring. Conveniently located along the developing Purple Line Corridor, Park Montgomery West will help preserve and meet the increasing demand for transit-oriented affordable housing in one of Maryland’s most populated counties.
Montgomery County’s Department of Housing and Community Affairs (DHCA) facilitated $10.6 million in financing, along with a Payment in lieu of Taxes (PILOT) agreement with Enterprise Community Development, Inc. (ECD) to support the construction of the 76 new apartments and the renovation of 141 existing units. The PILOT agreement waves County real estate taxes for ECD on its affordable units.