On April 25, 2024, HOC entered into a purchase agreement for 212 units at 4857 & 4858 Battery Lane in South Bethesda owned by various ownership entities, but generally controlled by Aldon Management Corp. 

Similarly to the Bradley Boulevard Acquisition, this acquisition presented a unique opportunity for HOC to preserve currently naturally affordable residential units as well as significantly increase the number of affordable units in the area with a very high redevelopment future rent increase potential. Upon acquisition, all unit rents were at or below 80% of the Washington, DC-MD-VA Metropolitan Statistical Area Median Income (AMI) levels. HOC is currently in the process of implementing two levels of affordability across the Properties: 30% of the units (63 units) are being restricted to households earning 80% or less of the area AMI. Additionally, 20% of the units (43 units) are being restricted to households earning 50% or less of the area AMI, Implementation of the restrictions will be phased in over the first 2-3 years following acquisition and will not displace any existing residents.