A 326-unit apartment community in White Oak is being preserved as mixed-income affordable housing through a $79.4 million acquisition announced by Donaldson Impact Investments, in partnership with New York Life Investment Management and nonprofit developer Housing Initiative Partnership (HIP).
The acquisition of Yorkshire Apartments will transition the garden-style community from market-rate housing to a mixed-income model designed to provide long-term housing stability for residents facing rising housing costs in Montgomery County.
Under the new structure, half of the apartment homes will be designated as affordable for households earning up to 60% of the area median income, while the remaining 50% will continue to operate as market-rate units…