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.”