SILVER SPRING, MD-First Baptist Church of Silver Spring will undergo a redevelopment that will include not only a new place of worship but also an apartment building and retail space. Lakritz Adler Real Estate Investments and Grosvenor Americas are partnering for the acquisition and development of the project, located at 8415 Fenton St. MAC Realty Advisors structured the deal.
The apartment will have 259 units and the retail space will be about 19,000 square feet including a two-story parking garage. Bruce Levin, Andrew McAllister and Ben Lazarus led the marketing effort for MAC.
It is rare but not unheard of for a church to be part of a commercial redevelopment project, especially in space constrained Montgomery Country. Last year Washington Property Co. began construction of Solaire-Wheaton, a 232-unit luxury apartment in Wheaton, MD on the site of the former First Baptist Church of Wheaton.
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