The groundbreaking of The Chimes at North Bethesda, a new development designed to alleviate the county’s troubled housing market, marked a significant achievement in Montgomery County’s drive for more affordable homes. According to a Montgomery County Government report released Thursday, the project, which is situated at 11901 Nebel Street, will include 163 rental units that are priced at 80 percent of the Area Median Income (AMI), or between $46,410 and $123,760 for a family of four. Officials anticipate that this will help alleviate some of the affordability issues that many residents are currently facing.
The Chimes, which is expected to be finished in the middle of 2026, intends to address the skyrocketing cost of housing, which has made it difficult for many low- and middle-income workers to obtain affordable home. Deeply inexpensive apartments with one, two, and three bedrooms are available in the complex; they are priced at 30% and 50% of AMI. In order to guarantee that “working families and others struggling with rising costs have a stable and affordable place to call home,” County Executive Marc Elrich underlined the project’s focus on “protecting, preserving and producing more affordable units” and highlighted the construction of over 160 affordable homes at 60% AMI, according to the Montgomery County Government website.
In addition to creative tax credits and commitments from organizations like the Montgomery Housing Partnership, the project’s nonprofit sponsor and developer, the Maryland Department of Housing and Community Development, Amazon Housing Equity Fund, and several financial institutions renowned for their community investment programs, the Chimes at North Bethesda’s substantial price tag of roughly $86 million is supported by a coalition of public, private, and nonprofit entities. The County has contributed close to $19.5 million to fill a crucial financing gap.
Council Vice President Kate Stewart agreed, praising the development’s strategic location near transit and essential services, citing it as an investment in stability and opportunity for residents. County Council President Andrew Friedson said, “We must act urgently and intentionally to address the housing crisis in our County and in the region and we can’t do it alone;” he emphasized the importance of collaboration between “the public and private sectors, along with nonprofit providers” to meet the county’s housing needs. These comments exemplify the common goal of a more welcoming community environment that prioritizes accessible public facilities like a park, community center, and nature views for the benefit of the entire community rather than just the construction of residences.
As MHP President Robert A. Goldman noted, The Chimes is more than just homes; it’s a symbol of job prospects and heightened economic activity. With the county officials saying, “We’re thrilled to begin construction on The Chimes at North Bethesda, which will provide new affordable apartment homes for low- and moderate-income residents in an area that is close to transit and accessible to many resources,” the county’s efforts to make affordable housing a reality will be further expanded. The Montgomery County Government website has additional information about The Chimes at North Bethesda.
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