Baltimore – The demand for affordable rental housing in Maryland and across the country is steadily growing, fed by foreclosures, the fragile economy and an increasing number of families that see advantages to renting rather than owning, Secretary Skinner said today.
Speaking at the first annual Baltimore Affordable Housing Summit, Secretary Skinner said the state faces a shortage of nearly 127,000 affordable housing units over the next five years.
“The O’Malley-Brown administration is taking a balanced approach to housing policy,” Secretary Skinner said, “that seeks to preserve and protect homeownership while expanding affordable housing opportunities for working families, senior citizens and people with disabilities.”
For example, Governor O’Malley recently announced his $15 million Rental Housing Works initiative, which will provide gap financing for up to 20 additional affordable rental housing projects next year, creating more than 1,100 jobs and leveraging $285 million in additional investment.
The Baltimore Affordable Housing Summit brought together realtors, developers and financiers to take an in-depth look at the state of the affordable housing industry. As keynote speaker, Secretary Skinner engaged in a spirited question and answer session with Reznick Group Principal Bill Riley and members of the audience.
Visit DHCD’s website at Mdhousing.org to learn more about the O’Malley-Brown administration’s efforts to prevent foreclosures, expand homeownership opportunities and produce affordable housing throughout the state.