WHEATON, MD-Washington Property Co. isbeginning development on a 232-unit, $75-million luxury apartmenthouse here. The complex will be located two blocks away from theWheaton metro station on the Red Line, at the site of the formerFirst Baptist Church of Wheaton. The church, which worked with WPCto sell its 50-year-old building, is moving to Olney, MD.

WPC is branding the asset Solaire-Wheaton. It will be thecompany’s second Solaire-branded apartment, the first being thenewly-delivered property in nearby Silver Spring. RBSCitizens Bank provided the construction financing.Clark Builders Group is the general contractor forthe project and Gables Residential will provideproperty management and leasing services when it starts operations.The project is expected to deliver in 18 months. About 90 daysbefore the scheduled delivery, WPC will start pre-leasing.

There have been few class A apartment buildings built for theWheaton submarket, a blue-collar enclave outside of Silver Spring.Those that have been built though, such as the Archstone project onGeorgia Ave., have performed well, WPC president Charles K.Nulsen, III tells GlobeSt.com. “The community receivesthem well,” he says.