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JLB Cancels Contract to Buy, Develop Silver Spring Office
JLB Partners has terminated its contract to purchase and redevelop the Forest Glen Medical Center site in Silver Spring, Maryland, Washington Business Journal reported. The Dallas-based developer had planned to transform the low-rise medical office building at 9801 Georgia Ave into a residential-over-retail development.
The redevelopment site plan, approved by Montgomery County’s land use regulatory agency in March, included a six-story building with 390 apartments across 425,000 square feet. Despite the termination, the property, owned by Forest Glen Medical Center LLP, retains its entitlement for redevelopment.
The site is involved in ongoing litigation, with three administrative appeals filed by the Forest Grove Citizens Association challenging the Montgomery County Planning Board’s approval of JLB’s redevelopment applications. The area is identified as a development opportunity in the 2020 Forest Glen and Montgomery Hills Sector Plan, which includes other potential sites along Georgia Avenue.
- ◦Sale/Acquisition
- ◦Development
