Montgomery County leaders take action to keep housing affordable
Montgomery County pushing to keep affordable housing
Skyrocketing rent prices are forcing families out of their homes. It is happening across the country and of course, right in our backyard. Housing shortages are causing rent increases, particularly in Maryland where prices are higher than the national average. Now, one county is taking innovative steps to make sure people have an affordable place to live. FOX 5's Homa Bash reports from Montgomery County with the story.
SILVER SPRING, Md. - Skyrocketing rent prices are nearly forcing families out of their homes.
It is happening across the country and of course, right in our backyard.
In Montgomery County, leaders are taking steps to preserve affordable housing in innovative ways - the latest example is at the Westchester West apartment complex in Silver Spring.
The average rent in the building is roughly $2,000 per month for a 2-bedroom.
In December, the 345-unit building went up for sale with a proposed rent increase of up to 6%, according to Montgomery County Executive Marc Elridge.
A spike that high is unfeasible and unaffordable for hundreds of families.
"We feel much safer. This is the home our kids have been around their whole lives," said Maria Lucia Vasquez. She and her family have lived in Westchester West apartments for seven years.
"I was thinking not just about myself, but the other people who live here," Vasquez said.
So the community group Action in Montgomery stepped in and contacted local leaders for help.
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As of Monday, a cap on rent increases expires in Montgomery County leaving some renters fearful of what kind of price hikes could come.
Elrich said 50,000 families in Montgomery County make less than $50,000 a year — many, less than $30,000 annually.
"They're spending half or more of their incomes on rent, which means they got nothing left over," he said.
Montgomery County Executive Marc Elrich
Elrich said the county has a right of first refusal law, so they're allowed to step in and match the sale price.
In this case, they paid $67 million for the complex, then, sold it to Enterprise Community Development for $75 million with a guarantee that rent would not rise so drastically.
Elrich said with housing insecurity on the rise, the business community is being "astoundingly shortsighted."
"It ultimately is a problem for all of us to solve together," Elrich said. "Because if those people can't afford to live here, who run a lot of basic businesses, they might not wind up working here if they have to leave."
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In Montgomery County, some councilmembers are taking on the rising cost of rent.
The stress of packing up and leaving has been daunting for people who live in Westchester West for months.
"We were very worried because it's like starting all over again. It's hard," said Rena Perez.
Because for longtime tenants like Perez — this area is where her kids grew up, where they go to school, and where her husband goes to work.
For so many, this is home.
"We are very grateful we can have peace and be home," Perez said.
Elrich said this is just the start, adding that current housing protection strategies are inadequate.
They plan to purchase other similar properties to guarantee long-term affordability for people who live and work in the county.