On Friday we wondered about the future of Argent, a 96-unit condominium project near the heart of downtown Silver Spring at 1200 Blair Mill Road (map). The project delivered in a historically bad market last spring, and was ultimately taken back by the bank. It has sat empty since as the bank looked for a buyer.
No sooner had we posted on Friday than an eagle-eyed reader pointed us to this application with Montgomery County by Pallas Properties, a developer of affordable housing. On June 22nd, Pallas applied for low income housing tax credits to the tune of $13 million, and the application was approved Montgomery’s County Council on July 2nd.
Assuming the developer’s plans continue, it appears Argent will be relaunched as rental housing for lower-income families.
This article originally published at http://dc.urbanturf.com/articles/blog/silver_springs_argent_to_become_low-income_housing/2311
Most Popular... This Week • Last 30 Days • Ever
Following a bankruptcy auction, sale closed on the property last November.... read »
The new home also has an owner's suite that spreads out over 3,300 square feet.... read »
Over 8,000 apartments were absorbed in DC in 2021 for the first time.... read »
A neighbor of the priciest home to ever sell in the DC region appears to be taking in... read »
The developer began sharing plans for the project in October.... read »
UrbanTurf is re-running its primer on property taxes which outlines a few things that... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
The H Street Corridor once epitomized DC's development boom, but construction activit... read »
The upzoning would mandate additional Inclusionary Zoning units for developments alon... read »
The Shaw pipeline is starting the year off hot.... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro