The Battery Park complex is located at 4890, 4900 and 4949 Battery Lane, Bethesda. The property consists of three mid-rise buildings built in 1956. 256 total apartments, 192 restricted to affordable households.

Similarly to the two previous acquisitions at Battery Lane and Bradley Boulevard, this was a rare opportunity for HOC to preserve over 250 units of affordable housing in one of Montgomery County’s most affluent neighborhoods. 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 successfully implemented two levels of affordability across the properties: 30% of the units (121 units) were restricted to households earning 80% or less of the area AMI. Additionally, 20% of the units (81 units) were restricted to households earning 50% or less of the area AMI, Implementation of the restrictions was phased in over the first 2-3 years following acquisition and did not displace any existing residents.