Housing Production Fund – Housing Opportunities Commission

About the Housing Opportunities Commission (HOC)

The Housing Opportunities Commission of Montgomery County (HOC) was established in 1974 with a mission to provide affordable housing and supportive services that enhance the lives of low- and moderate-income families and individuals throughout Montgomery County, Maryland. HOC is the County’s largest provider of high-quality, amenity-rich, affordable housing for low- and moderate-income households. As the County’s designated Public Housing Authority and Housing Finance Agency, HOC serves approximately 17,500 renter households, owns more than 9,000 rental units and has provided mortgages to nearly 1,200 first-time homebuyers. HOC has also financed more than 4,000 affordable units for other developers and currently has a pipeline of 13 projects in various stages of the development process from design to construction.

HOC is a true housing accelerator. We work to leverage nearly any financial tool/resource to expand and/or accelerate its impact. From leveraging private funds to infusing capital with equity, we take a creative financing approach that gets deals done.

About the Housing Production Fund (HPF)

$100 million revolving construction fund to produce 6,000 new housing units

Public equity replaces private equity

• HOC retains majority ownership and control. Public-private delivery model produces beautifully designed, highly desirable developments
• HPF investments are buffered from prevailing market conditions - HOC invests resources in new housing where and when the community wants and considers holistic community goals like green space, sustainability, universal design, community-serving retail, transit and pedestrian infrastructure, more family-sized units
• HOC ownership provides enhanced tenant protections for all residents, including market rent and allows access to provide wrap-around services

HPF Recognized as a Model of Innovation - 2024 Ivory Prize

The Housing Production Fund is the recipient of a prestigious 2024 Ivory Prize, a national award that recognizes ambitious, feasible and scalable solutions to housing affordability. Click here to read more.

Click here to visit the Ivory Prize HPF web page.

HPF Timeline

Pipeline

Read Articles or View Video:

Quarterly Update Webcast - HUD’s Office of Policy Development & Research (PD&R)

• How this sleek affordable housing project in Maryland became a reality - FastCompany 2024
• Perspective: Northside Redevelopment: Why? H ow? What will it Take? - Construction Forum 2023
• Editorial: Doing the Public Good - Chester County Press
• Rhode Island Housing Department Plans to Study ‘Public Developer’ Model - The Providence Journal
• Rhode Island Housing Crisis Public Developer Plan in Limbo - The Providence Journal
• Can Social Hosing Help Solve the Mass. Housing Crisis? - GBH
• Will RI be the first state to create a public housing developer? That plan is up in the air - The Providence Journal
• Image the Renters’ Utopia - The New York Times
• Just Build the Homes - Slate
• Political Scene: How a Maryland public housing program could influence Rhode Island - The Providence Journal
• Maine’s housing affordability crisis needs a public option, says lawmaker - Beacon
• How state governments are reimagining American public housing - Vox