Affordable Housing, Moving Headquarters And Retail Conversions: The Latest News Around Chevy Chase
1) Tishman Speyer, which acquired the Mazza Gallerie mall at 5300 Wisconsin Ave. in Friendship Heights, plans to redevelop it with apartments and retail. The developer paid $52M for the 294K SF mall built in 1979. It declined to give an update on the project to Bisnow
2) An update to D.C.’s Comprehensive Plan is expected to spur more housing development in Friendship Heights. One possible beneficiary: the Lisner-Louise-Dickson-Hurt Home, a senior living community planning to add a new affordable senior living building of at least 80 units on an empty lot on its property.
3) Washington Property Co. is preparing to break ground on a 198-unit, 22-story apartment project after securing a $69M construction loan from Bank of America, Bisnow first reported. The location is the former La Madeleine site in Downtown Bethesda.
4) Sleepy no more? Long known as a bedroom community, Tenleytown is expecting some major mixed-use projects. These include a $640M redevelopment of the former Fannie Mae headquarters into a mixed-use development anchored by D.C.'s first Wegmans and the $290M overhaul of 4000 Wisconsin Ave., Washington Business Journal reported.
5) A new 18-story mixed-use project in Friendship Heights will bring a more modern style of retail to the neighborhood, Donohoe Cos. Senior Vice President Jad Donohoe told Bisnow. The project, in partnership with Carr Cos., is to replace a 45K SF retail structure on Wisconsin Avenue built in 1970.
6) Is Clark Construction leaving its headquarters space in Downtown Bethesda? Bisnow learned its offices are being marketed for lease by the building's owner, Stonebridge, and the landlord announced a $24M renovation and rebranding effort for the building at 7500 Old Georgetown Road, next to the Bethesda Metro station.
7) Federal Realty shared preliminary plans to redevelop Friendship Center at 5333 Wisconsin Avenue NW in Friendship Heights. Federal Realty proposes a new building with 350 residential units above 12,000 square feet of retail to replace an existing 130,000 square-foot building, UrbanTurf reported.
