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Redevelopment Proposals for Ambassador Apartments Under Review

Final evaluations for developer proposals for the Wheaton apartments are set for Nov. 27.

 

The Montgomery County Housing Opportunities Commission is in the process of redeveloping Ambassador Apartments, located at the northwest corner of the intersection of Veirs Mill Road and University Boulevard.

The Ambassador's 162 low-income residential units are owned by Wheaton-University Boulevard Limited Partnership, a tax credit partnership.

This redevelopment could also involve an adjacent property owned by Willco Companies. The HOC voted on Wednesday to enter into a memorandum of understanding with Wilco.

The purpose of the project is to “create an energy-efficient, environmentally sustainable, mixed-income residential rental development…with a construction schedule that displaces no current resident," according to a preliminary redevelopment document.

Housing Acquisitions Manager Jennifer Hines Arrington told the commission during the Nov. 7 meeting that HOC is still in the process of selecting developer proposals. 

They have narrowed down the number to three, with final evaluations set for Nov. 27 and interviews in early 2013.

According to a redevelopment document from April, “HOC is seeking to have Ambassador Apartments redeveloped into a vibrant master planned rental property capable of serving local needs; and as a model for future [re]development efforts by creating a property with a unique character that promotes livability and a high quality of life.”

AntonFisher December 04, 2012 at 08:12 PM
I just skimmed through the project documents. Currently, there are 162 residential units in the building and they are 100% reserved for people earning less than 60% of the area median income. Any new development must provide at least 162 units for the same segment of income. If a developer comes and proposes a building similar to the [Exchange], or as referred to the Safeway building in Wheaton that has approx. 800 units, then the developer will be providing approximately 20% of the units below market rate. I do not think this is a bad deal for a large investor.
Commentous December 04, 2012 at 09:09 PM
I think there was talk about making it a 30% lower income development. Still, it's a lot better for redevelopment than the current 100%.
AntonFisher December 05, 2012 at 01:29 PM
Apologies Yaman! I just noticed this was your article and not Esther's. Thanks for the article. I always enjoy reading the very relevant articles you write. I wish you coordinate more with Esther so we can have some of your articles, such as this one, featured on the the Wheaton Patch.
AntonFisher March 02, 2013 at 12:30 AM
Any new information regarding this project Yaman?
Wheaton2020 September 27, 2013 at 10:36 PM
Any news? It has been almost a year Yaman?

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