The Waverly House (4521 East-West Highway) is a 158-unit affordable housing building that will undergo heating, ventilation and air conditioning upgrades as well as work on the structure’s windows, roofing, plumbing and electrical systems.
Work will also include updating the building’s kitchens, bathrooms and re-painting all common areas.
With support from County Executive Isiah Leggett and the County Council (expected to be finalized in July via a resolution), the HOC has requested Low Income Housing Tax Credits from the Maryland Department of Housing and Community Development.
The tax credits would require that all households in the property earn less than 60 percent of the area median income, with another requirement that at least 40 percent of the households earn less than 30 percent of the area median income.
Leggett’s office said those requirements will preserve the affordable units in the Waverly House for at least 30 years. A resolution of support from the Council is required by the State of Maryland in order to approve the application.
The building, managed by the HOC, was built in 1978 near the intersection of East-West Highway and Wisconsin Avenue. The renovation work is expected to be complete by March 2015.
Photo via HOC of Montgomery County