Montgomery County cuts ribbon on first housing program for work force

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Montgomery County officials are taking their first stab at providing affordable housing for government employees today, putting 49 partially subsidized condos on the market.

County and Rockville employees can apply to purchase one of 49 condos in the Village at King Farm, part of Rockville’s King Farm community. The county will spend $9.5 million on the complex, when financing is included, plus about $26,000 per condo to upgrade them and remodel common areas.

 

The two- and three-bedroom units are now on the market for between $205,000 and $380,000 apiece, with priority given to first responders and teachers, although other Montgomery and Rockville workers and residents can also apply. Condos with two or more bedrooms nearby have sold for between $400,000 and $458,000 during the past six months.

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