Homebuilding giant buys Chevy Chase site for townhouse development

Toll Brothers Inc. has acquired a Chevy Chase property approved for a townhouse development.

The Pennsylvania homebuilding giant (NYSE: TOL) bought the 4-acre site at 3700 Manor Road from Chevy Chase-based The Chevy Chase Land Co., the seller announced Monday. The $29.2 million sale closed May 2, per a deed singed that day in public records.

Toll plans to build 63 townhomes on the now-vacant lot, which was once home to 67 garden apartments built in the 1950s and called Chase Manor. The new project will be called Chevy Chase Crossing.

That will be the first phase of a two-phase development totaling 147 townhomes that received preliminary and site plan approval in February 2023.

The second phase would feature 84 townhomes replace a 1950s-era townhome complex on nearly eight acres dubbed the “Preston tract,” located just up the road to the east at 3701 Manor Road. The sale to Toll did not include that parcel.

Nimita Shah, Toll’s division president for Greater Washington, said the Chase Manor property sits in a “prime location,” citing the development of Chevy Chase Lake and a Purple Line station underway immediately next door to the west.

Chevy Chase Lake, a joint venture between The Chevy Chase Land Co. and Greenbelt’s Bozzuto Development Co., is approved for up to more than 1.5 million square feet of new mixed uses on a forthcoming Purple Line transit station. The first phase, comprising more than 500 units with various ground-floor retail offerings, including an Amazon Fresh, was recently completed.

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