The Chevy Chase Land Co. and Bozzuto are planning to break ground on a new Washington, D.C.-area residential development once initial approvals are secured. The partnership won its preliminary plan approvals for the Chevy Chase Lake West project and is onto seeking site plan approvals.
The 245,952-square-foot Chevy Chase Lake West project will replace a low-rise shopping center and its surface parking lot. Once completed, the 220-unit community will offer a mix of apartments and townhouses, with up to 28 moderately-priced dwelling units. As a mixed-use community, Chevy Chase Lake West will also include up to 19,000 square feet of retail and commercial space.
Located on a nearly two-acre site at 8550 Connecticut Ave., future residents will be a short drive away from downtown Bethesda, Md., and approximately eight miles away from downtown Washington, D.C.
Chevy Chase Lake West is the second phase of its overall transit-oriented, mixed-use project called Chevy Chase Lake, which spans Connecticut Avenue. The first phase delivered three residential buildings, 100,000 square feet of retail space and a 13,000-square-foot pedestrian piazza. While the three communities opened at separate times, the first phase celebrated its official grand opening in October 2023.
Growing D.C. apartment portfolio
Chevy Chase Land Co. has had plenty of experience investing in communities in the Washington, D.C. area. In October 2018, the company acquired 672 Flats, a 173-unit apartment community in Ballston, Va., for $90 million. Chevy Chase Land Co.’s portfolio totals approximately 1.6 million square feet in assets across the metro, including office, retail and residential properties.
The project adds to a Bozzuto pipeline that includes more than eight million square feet under construction. Beyond that, the company owns more than 50,000 developed units and manages upwards of 100,000 apartments and 3.5 million square feet of retail space across the U.S. Bozzuto recently welcomed the first residents to its 178-unit Rowen at The Pinehills community in Plymouth, Mass.
