Chevy Chase Land, Bozzuto teaming on $200M Chevy Chase Lake

The Washington Business Journal February 5, 2019
By  – Staff Reporter, Washington Business Journal
Since its founding in 1890, the Chevy Chase Land Co. has owned a prominent 15-acre swath on Connecticut Avenue, which has been home over the years to a wide mix of uses from Chevy Chase Supermarket to a lumber yard.

With a Purple Line station entering the picture, this site is about to change in a big way.

In the coming months, the parcel at 8507 Connecticut Ave. will be redeveloped as the $200 million-plus Chevy Chase Lake. As part of the project, a joint venture of CCL and Greenbelt-based Bozzuto will bring back a grocery store to serve as an anchor in the community.

The JV broke ground in October and is expected to complete the development within 36 months. It’s part of a much larger, multiphase development that could reach 1.5 million square feet at buildout.

The project is expected to help fulfill Montgomery County’s Chevy Chase Lake Sector Plan, which was approved by the County Council in 2013. It calls for new development with shopping, housing, and public spaces near transit nodes such as the Purple Line, which is expected to begin passenger service in 2022.

As part of the project, Bozzuto will build a platform tying into a new rail station.

“The Purple Line stop will be in Chevy Chase on our site and you have all this wonderful retail, you have places to live,” said Toby Bozzuto, president and CEO of Bozutto. “It will offer an opportunity for residents to take the Metro wherever they need to go from basically their own building.”

Shovels are in the ground for the first piece, a 500-space underground parking garage. Bozzuto has already razed the long-time Chevy Chase Supermarket and the T.W. Perry lumber and materials company has relocated to Brookville Road, said Jeff Kayce, managing director for Bozzuto’s development arm.

Located on the southeast quadrant of Connecticut Avenue and Manor Road, the project will feature three buildings totaling 470 apartments, 65 condominiums and 100,000 square feet of ground-level retail surrounded by a central town square. A grocery store, which has not yet been named, is expected to take up approximately 50,000 square feet.

The entire project should be complete by 2021.

It will add to the 62-unit Brownstones at Chevy Chase Lake townhome community built by EYA and a 200-unit apartment building on Chevy Chase Lake Drive called the Lindley, which was built by EYA and Housing Opportunities Commission of Montgomery County and is managed by Bozzuto.

Bozzuto said CCL chose to partner with his company on a joint venture as opposed to selling off the land to “whomever at the highest number.”

“They wanted it to be a legacy to their family and make a positive impact on the community,” he said.

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