268-Unit Affordable Housing Development Breaks Ground Near North Bethesda Metro

County Executive Marc Elrich joined officials and developer SCG Development Partners for the groundbreaking of NoBE II, a 268-unit, 100% affordable rental development located near the North Bethesda Metro station at Rockville Pike and Nicholson Lane. The project, with a total development cost of $130 million, is supported by a $38 million County loan — the largest permanent financing agreement the County has issued to date — along with federal Low Income Housing Tax Credits and Maryland state financing. Units will be affordable to households earning between 30% and 70% of Area Median Income, with affordability restrictions lasting at least 40 years and up to 99 years for 41 MPDU units.