Silver Spring, MD (September 17, 2026) – Nonprofit developer Montgomery Housing Partnership (MHP) today announced it has completed the $86 million affordable multifamily development The Chimes at North Bethesda. The Chimes is a ground-up mixed-income property with 163 apartment homes.

Steps away from Metro, The Chimes brings a mix of affordability levels to a vibrant area of Montgomery County, providing housing for families earning 30, 40, 50, 60, and 80 percent of Area Median Income (AMI). Through this project, MHP transformed what was once an underutilized parcel of land in a transit-friendly location into a modern, efficient, accessible, and stylish property that will serve many low- and moderate-income families for years to come.

Located half a mile from the North Bethesda Metro, The Chimes adds 172,720 square feet of residential space to a bustling area, connecting residents with extensive transportation options, high performing schools, and other area amenities while enhancing outdoor spaces for the public.

The property’s name reflects a charming musical theme, expressed through interactive artistic components such as dancing chimes intended for public enjoyment. MHP considered sustainability throughout the project’s design, working closely with environmental engineers, watershed management professionals, landscape architects, and civil engineers to ensure removal of non-native invasive species, stabilize the existing stream, and restore the natural habitat through plantings.

“We’re thrilled to present The Chimes at North Bethesda, which provides 163 new, affordable homes for low- and moderate-income residents in Montgomery County within walking distance of the North Bethesda Metro station,” said MHP President Robert A. Goldman. “The Chimes increases the supply of critically needed affordable housing in an area of great opportunity in the County – near good schools, shops, and other wonderful amenities in the North Bethesda neighborhood.  This project would not be possible without the support of many project, funding, and philanthropic partners, and we are extremely grateful for their support.”

The ribbon cutting celebration event included speeches by notable local leaders including Maryland Delegate Jared Solomon, Montgomery County Executive Marc Elrich, Council President Natali Fani-González, Councilmember Kate Stewart, Councilmember Andrew Friedson, Montgomery Planning Board Chair Artie Harris, MHP President Robert A. Goldman, project partners, resident speakers, and more.

“The County’s investment in The Chimes has helped create 163 affordable housing opportunities near transit, giving individuals and families better access to jobs, education, and other services,” said Montgomery County Executive Marc Elrich. “The area around the North Bethesda Metro station is becoming an important life sciences hub and a growing community where people can both live and work. It’s essential that households of all incomes – not just the highest earners – can afford to live near new development. That’s why the County invests in projects like this one and partners with developers like MHP that make affordable housing a priority.”

Through this development project, MHP transformed a vacant and environmentally constrained parcel of land into critically needed affordable housing, with public enhancements to pedestrian and vehicular circulation, open space, stream restoration, and bicycle infrastructure. The property contains six stories of efficiency, one-, two-, and three-bedroom units with indoor amenity space above two levels of structured parking. Residents enjoy a community center, two gyms, a rear deck, and an onsite leasing office while benefiting from the convenient location near transit options, services, retail, schools, and the Pike & Rose mixed-use development. The Chimes’ unique pocket park, pedestrian plaza, and nature overlook are now open to the public.

Primary project partners include Hord Coplan Macht, Donohoe Construction Company, VIKA, and Building Consultants, Inc.

The Chimes has received significant financial support, including a $2.2 million grant from the Amazon Housing Fund, which contributes to its affordability. Other funding partners are Montgomery County Department of Housing and Community Affairs, State of Maryland Community Development Administration, State of Maryland Revitalization Programs, State of Maryland Housing and Community Development, Capital One, Freddie Mac, Grandbridge Real Estate Capital, Truist, LISC-DC, Enterprise and NeighborWorks America.

Through a competitive application process, MHP secured both 9% and 4% tax credit awards for The Chimes, making it the sole project in Montgomery County to receive such funding in the specific application round. This financial backing allows for 10% of the units to be reserved for families with incomes not exceeding 30% of the area median income.

The Chimes at North Bethesda brings MHP’s affordable housing portfolio to more than 3,400 apartment homes.

ABOUT MHP

MHP is dedicated to making home possible. Since 1989, the organization has been preserving and expanding access to quality affordable housing. MHP is a private nonprofit that provides 3,400 homes in Montgomery County, MD, and surrounding communities. It accomplishes its mission by housing people, empowering families, and strengthening neighborhoods. Learn more at mhpartners.org