JLB Partners, a Dallas-based developer, has terminated its contract to purchase and redevelop the Forest Glen Medical Center site in Silver Spring, Maryland. According to Washington Business Journal, JLB had planned to transform the low-rise medical office building into a residential-over-retail development at 9801 Georgia Ave.
The approved redevelopment plan for this property included a six-story building with 390 apartments spanning over 425,000 square feet. Despite the termination of their contract with Forest Glen Medical Center LLP as owners of the site, it still holds entitlement for future redevelopment.
However,the property is currently involved in ongoing litigation due to three administrative appeals filed by the Forest Grove Citizens Association against Montgomery County Planning Board’s approval of JLB’s applications for redevelopment. This area has been identified as a prime development opportunity in accordance with the 2020 Forest Glen and Montgomery Hills Sector Plan which also includes other potential sites along Georgia Avenue.
In recent news from Connect CRE: “JLB Cancels Contract to Buy and Develop Silver Spring Office.”
