Montgomery County officials joined Montgomery Housing Partnership (MHP) for the grand opening of The Chimes, a new 163-unit affordable apartment community near the North Bethesda Metro station.
County Executive Marc Elrich, County Council President Natali Fani-González, other councilmembers, state and local officials, and representatives from MHP participated in the grand opening.
Located at 11901 Nebel St., approximately half a mile from the North Bethesda Metro station, The Chimes is a seven-story development with all 163 apartments designated as affordable for households earning between 30% and 80% of Area Median Income (AMI). County housing documents confirm the development’s 163-unit total and $19.45 million County loan.
The development includes 17 units for households earning 30% of AMI or less, 15 at 40% or less, 40 at 50% or less, 74 at 60% or less, and 17 at 80% or less. According to the County, the current AMI for a family of four in Montgomery County is $166,100.
The apartments include 10 studios, 57 one-bedroom units, 72 two-bedroom units, and 24 three-bedroom units.
The County provided $19.45 million through its Housing Initiative Fund, administered by the Montgomery County Department of Housing and Community Affairs. The approximately $86 million project also received federal 4% and 9% Low Income Housing Tax Credits, State financing, private financing, and a $2.2 million grant from the Amazon Housing Equity Fund.
The property is also supported by a Payment in Lieu of Taxes agreement, or PILOT, which provides a County tax abatement in exchange for the owner’s commitment to maintain affordable housing. According to the County’s announcement, the estimated annual value of the PILOT based on Fiscal Year 2027 tax values is $334,153.
MHP President Robert A. Goldman said the development adds affordable housing within walking distance of Metro and close to schools, shopping, and other amenities in North Bethesda.
The project broke ground in November 2024. At the time, the County described the site as a vacant parcel that would be transformed into affordable housing and identified the North Bethesda Metro station, Pike & Rose, and the University of Maryland Institute for Health Computing as nearby destinations.
The Chimes is one of multiple affordable housing developments underway or recently completed in the North Bethesda area. In March, officials broke ground on NoBE II, a 268-unit affordable development near the Metro station supported by a $38 million County loan.
According to Montgomery County, its investments between Fiscal Years 2019 and 2026 have produced or preserved 10,031 affordable housing units for households earning between 30% and 70% of AMI.
