SILVER SPRING, MD-Washington Property Co. has acquired a three contiguous developable land parcels here with an eye to moving dirt sooner rather than later. The company will decide within the next three to four months what it will do with the parcel, Charles K. Nulsen, III, president of WPC, tells GlobeSt.com. "There is a hotel interested, we are also looking at office and residential."

The parcels total some 28,000 square feet. Bethel World Outreach Ministries International sold the site, located at 8242-8252 Georgia Ave., with two low-rise buildings and a parking lot, for $8.2 million. Keller Williams Capital Properties represented the seller in this deal.

Washington Property Co. is an active force in Silver Spring as well as neighboring Wheaton. It recently completed development of the 17-story, 295-unit luxury apartment building Solaire-Metro.

WPC has also been selected by Montgomery County to redevelop the Shepherd's Table/Progress Place parcel just south of the Solaire-Metro apartment complex. This project is still in the early planning phases. In broad strokes, though, the expanded facility WPC would develop would offer services to Silver Spring's low-income and homeless population. It would also include a second Solaire-Metro residential tower with approximately 380 luxury apartments.

Last year, WPC began construction of Solaire-Wheaton, a 232-unit luxury apartment two blocks from the Wheaton Metro station on the site of the former First Baptist Church of Wheaton.

Instant Insights /

WPC Expands Silver Spring Footprint with New Parcel

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