Ah, another empty condo building will finally be filled with.. people.

The Argent, originally planned as a condominium building with units going for $300,000 to $500,000, will officially open its doors as an affordable apartment building Sept. 16. A one-bedroom apartment will run $1,069 and two-bedroom, $1,272.

Evan Glass over at the South Silver Spring Neighborhood Association gives the skinny on how the project’s original lender collapsed and a new backer stepped in to turn it into an affordable housing building, with the help of some millions-of-dollars of tax credits.

News of the affordable housing building in its highly visible location at 1200 Blair Road, just off of East-West Highway, has sparked some fears over what will happen to nearby residents’ property values. But I doubt that an empty building of overpriced condos would be better.

And over in Takoma Park work on another stalled former condo, now affordable apartment building, is expected to start back up soon, writes DCmud. We’ll have a more thorough update of that project forthcoming.