Neighboring Chevy Chase Properties To Get Major Facelift

BETHESDA, MD — Two D.C.-area developers have acquired nearly two acres of prime real estate on Wisconsin Avenue in a push to revitalize the Chevy Chase corridor.

In a statement on Tuesday, the Donohoe Cos. and Carr Cos. jointly announced that they paid $7.4 million for 5500 Wisconsin Ave. and 5520 Wisconsin Ave. — which include retailers like Brooks Brothers and Rangoni Firenze Shoes, as well as a 226-room Courtyard by Marriott hotel.

The property is located two blocks north of the Friendship Heights Metro station and the Collection at Chevy Chase.

"Chevy Chase is one of the best submarkets in the region, and we look to bring a long-awaited facelift to the site with a focus on community-serving offerings," said Matt Buhts, CFO of Carr. "If the trials of the past year have taught us anything, it is the importance of collaboration and community."

Carr will be in charge of redeveloping the retail site into a trophy residential project, while Donohoe Hospitality Services will take over the management of the hotel. Donohoe says hotel operations will remain uninterrupted.

The developers expect to break ground in late 2022.

"Carr is excited for the opportunity to acquire what we believe will be a transformative project for the Chevy Chase market," Buhts said. "5500 Wisconsin offers the ability to create a truly outstanding mixed-use center, with hotel, retail, and residential components working in harmony."