Some 5,200 rental apartments are expected to be built in this area during 1977, about 3,200 more than last year. And one of the area's active developers and builders of apartments in recent years, the Artery Organization, is planning to build about 1,500 of them here and and near Baltimore.
Headed by Henry H. Goldberg and Alan Geller, the firm is half owned by apartment develop-owner Melvin (The Towers) Gelman and the estate of the late George Wasserman, founder of the George's appliance chain. Most of Artery's apartment work is being done under FHA programs designed to encourage construction; mortgage rates are set below market at 7.5 per cent with a 40-year payout.
Current Artery projects include:
Lazy Hollow, 178 units in Columbia's Long Reach area;
Huntington Ridge, 198 units planned for spring construction in the Sugurland Run area of Loudoun County;
Greentree, 238 untis in the Glen Burnie area south of Baltimore, with plans for 207 more next year. In 1976, 350 rental untis were completed and leased in the project.
Peppertree, 244 units in the Bel Pre Road area near Rossmoor scheduled for a Spring start, with 173 more planned. An earlier section is completed.
Northampton Gardens, 344 units in the Largo area of Prince George's County near the Capital Centre.
West Springfield Gardens, 244 units at Keene Mill and Rolling roads in Northern Virginia.
Artery no longer builds detached houses, but it has 400 townhouses under way or planned at Coventry in the Crofton Meadows area, 180 in the Sugarland Run area and 222 at Twinbrook and Braddock roads in Virginia. It also plans completion of its Comstock townhouse onRoute 236 in Virginia.