Annapolis, MD – Governor O’Malley predicted that his plan to put an additional $15 million into the production of affordable rental housing throughout the state would have no trouble winning approval in the legislature, because it would generate “real jobs for real people here in Maryland.” Learn more.
“Every legislator in the session that opened this week will be looking at how to create jobs,” the governor said during Jan 12 press conference announcing the Rental Housing Works initiative. “There will be a laser-like focus on jobs this year. This is an initiative that will sell itself.”
Governor O’Malley said the money invested through the Rental Housing Works initiative would spur new development throughout the state. The additional $15 million would provide gap financing for up to 20 affordable rental housing projects next year, support more than 1,100 jobs and leverage $285 million in additional investment.
Secretary Skinner joined the governor at a construction site just a few blocks from the State House in Annapolis, where workers were clearing the ground for Obery Court/College Creek Phase II, the new construction of 63 rental units for hardworking families. The new homes are part of the revitalization of the city’s historic Clay Street community through a partnership between DHCD, the Housing Authority of Annapolis, developer Pennrose Properties and the City of Annapolis. Several of the construction workers at the site live in the community they are helping rebuild, said Mark Damby, president of Pennrose Properties.
Rental Housing Initiative will provide gap-financing for new projects in DHCD’s pipeline so that the revitalization of Maryland communities like Obery can continue.
“In order for a modern economy to create jobs, you have to make modern investments and there is no ‘infrastructure’ investment as important as our homes,” the governor said.
Trudy McFall, president of the Maryland Affordable Housing Coalition, agreed. “No economy digs itself out of a recession without investing in housing to create jobs,” she said.