The Chevy Chase Land Company, a commercial real estate investment and asset management company with properties across the Washington, D.C. metro area, announced the sale of Chase Manor to Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes since 1967. Toll Brothers will be redeveloping the site into a new luxury townhome community named Chevy Chase Crossing.
“It’s somewhat bittersweet to sell the site of a former 72-year-old community that holds so much history for the many locals of Chevy Chase, but with an aging infrastructure and increasing demand to live in this area, it was time to allow for its redevelopment,” said The Chevy Chase Land Company CEO, John Ziegenhein. “We are pleased to have the history and quality of Toll Brothers to usher in the next generation of neighbors to a new development as we at The Chevy Chase Land Company continue expanding and improving our many nearby projects, including office, The Collection, and Chevy Chase Lake — with plans for another dynamic project right across from that mixed-use neighborhood on Connecticut Avenue.”
Located in the heart of Chevy Chase and first built in 1952, the former Chase Manor Apartments sits on almost four acres. Adjacent to Washington, D.C., it was one of the first opportunities to enjoy apartment living of this style – and near to shopping and transportation. Previously home to 67 garden-style apartments, the now vacant site will be redeveloped by Toll Brothers into a new residential community of 63 townhomes called Chevy Chase Crossing.
“We are excited about the opportunity to create another very special community in this prime location in Chevy Chase,” said Nimita Shah, Division President of Toll Brothers for the D.C. Metro area. “Chevy Chase Crossing will be within walking distance to the new Purple Line Metro stop that is currently under construction, as well as the new Chevy Chase Lake development next door.”
About The Chevy Chase Land Company
The Chevy Chase Land Company is a leading commercial real estate investment and asset management firm headquartered in Chevy Chase, MD. Over the past 130 years, the company has shaped the skyline and landscape of the D.C. metro area, contributing approximately 10 million square feet of transformative office, retail, and residential spaces. Fully integrated, The Chevy Chase Land Company has in-house capabilities covering every aspect of the acquisition, development, management, and disposition process. Distinguished by its experienced team, industry-leading strategies, and positive workplace culture, The Chevy Chase Land Company is backed by its award-winning developments and network of nationally recognized partners. The Chevy Chase Land Company has a rich legacy dating back to 1890 and has earned a reputation for excellence, integrity, and innovation. As stewards of the community, The Chevy Chase Land Company remains highly committed to giving back to the neighborhoods in which it operates and has proudly supported over 500 charities. Visit www.chevychaseland.com for more information.
About Toll Brothers
Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded 57 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations.
In 2024, Toll Brothers marked 10 years in a row being named to the Fortune World’s Most Admired Companies™ list and the Company’s Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron’s magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.
