Good news for Montgomery County employee's looking to purchase a peace of
Montgomery County real estate, and are employed by the county, I have good news for you? There's a new work-force housing initiative being designed to make housing more affordable. This program is geared towards people who want to purchase
Montgomery County MD real estate but make too much to qualify for moderately priced homes, but too little to afford the current market rate. Right about now you are probably asking yourself the question that I asked myself originally, and that is where is this
Montgomery county Maryland homes located? The
Maryland real estate that was purchased are located in the Kings Farm Community.
On November 26th, 2008 Rockville, Montgomery County and Maryland officials opened the doors to the first of these condominiums provided by the new work-force housing initiative. Currently there are more then four dozen condominium complexes in the King Farm community that are part of this initiative. The County's Department of housing and Community Affairs and Housing Opportunity Commissions in March purchased 49 apartments from Regency Center. Regency Center is the owner and operator of The Village Center in King Farm. The Units that were purchased are either two or three bedroom featuring hardwood flooring, fresh paint, granite countertops in the kitchen, and all new appliances. Majority of these units purchased by the county are located above retail, restaurants, and or office space on Pleasant Drive. Presently they plan on turning all 49 of these apartments into Condominiums for sale.
How do you know if you qualify to purchase these properties
The people that qualify to purchase these Condominiums must be employed by the city and the county; this includes individuals that work for the county's school system. This program is being marketed to individuals that are making roughly 70 percent to 120 percent of the median income for a family of four in the area. Elected officials hope that this program will allow county employees like firefighters, policemen and teachers to live in the community that they work in. Another very interesting fact to note is that the largest work force of the county is the school system, and many of these employees live outside the county lines. Hopefully this increase in work force housing will allow some of these school employees to be able to move inside the counties borders.
