Montgomery County's push for more affordable housing took a concrete step forward with the groundbreaking of The Chimes at North Bethesda, a new development aimed at easing the county's strained housing market. The project, located at 11901 Nebel Street, will feature 163 rental units pegged to 80 percent of the Area Median Income (AMI)—that's a range of $46,410 to $123,760 for a family of four, so officials expect it to offset some of the affordability crisis many residents currently face, a report by Montgomery County Government announced Thursday.
Set for completion in mid-2026, The Chimes aims to address soaring housing costs that have left many low- and middle-income workers struggling to find affordable housing. The development includes one-, two-, and three-bedroom apartments, with deeply affordable units at 30% and 50% of AMI. County Executive Marc Elrich emphasized the project’s focus on "protecting, preserving and producing more affordable units" and highlighted the creation of over 160 affordable homes at 60% AMI, ensuring "working families and others struggling with rising costs have a stable and affordable place to call home," according to Montgomery County Government website.
The Chimes at North Bethesda's hefty price tag of approximately $86 million is buoyed by a coalition of public, private, and nonprofit entities, including contributions near $19.5 million from the County to address a critical financing gap, alongside innovative tax credits and commitments from entities such as 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 known for their community investment programs.
In a show of partnership County Council President Andrew Friedson stated, "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 underscored the importance of collaboration between "the public and private sectors, along with nonprofit providers" to meet the county's housing needs, calling The Chimes a testament to this team effort, Council Vice President Kate Stewart concurred, praising the strategic location of the development near transit and essential services, citing it as an investment in stability and opportunity for residents. These remarks embody the shared vision for a more inclusive community landscape focused not just on building homes, but also on creating accessible public amenities like a community center, a park, and nature overlooks for broader community enjoyment.
The Chimes is more than just housing; it represents job opportunities and increased economic activity, as pointed out by Robert A. Goldman, President of MHP, It 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, told the county officials, "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," amplifying the county's efforts in making affordable housing a tangible reality. For more details on The Chimes at North Bethesda, the Montgomery County Government website offers further information.
