The church owns the property and arranges a long-term lease of the land with Foulger-Pratt. By owning the land, the church can benefit from future price increases in the vicinity. Eliminating the need to purchase land provides significant savings for developers. In addition to a $43.2 million construction loan from Eagle Bank, the $72 million project received funds from investors. Among the investors were 456 individuals from CrowdStreet, a crowdfunded commercial real estate investment marketplace.
https://www.washingtonpost.com/business/2021/10/27/new-apartments-southwest-washington-share-space-with-church/?utm_source=rss&utm_medium=referral&utm_campaign=wp_business New apartment in Southwest Washington to share space with a church