Two major regional developers have purchased a Chevy Chase hotel and adjacent retail store with a plan to “revitalize the entire block,” according to a press release.
On Wednesday morning, Carr Cos. and The Donohoe Cos. Inc. announced they had jointly paid $74 million to buy the 44,688 square feet of retail space at 5520 Wisconsin Ave., and the 226-room Courtyard by Marriott Bethesda Chevy Chase hotel at 5500 Wisconsin Ave.
The press release does not say from whom the companies purchased the properties.
Maryland Department of Assessments and Taxation property records list Grosvenor Urban Maryland LLC as the owner of 5520 Wisconsin Ave., but it was not clear in the department’s database who owned 5500 Wisconsin Ave.
Carr Cos. and The Donohoe Cos. envision “a long-awaited facelift to the site with a focus on community-serving offerings,” including hotel, retail and residences “working in harmony,” according to the press release.
Donohoe Hospitality Services will take over management of the hotel, which will continue normal operations by the development plan, the release says.
The release gives few details about the planned project, but says Carr and Donohoe plan a “trophy residential project” that will “provide a complementary mix of uses with the adjacent hotel.”
Construction is expected to begin in late 2022.
Representatives of Carr and Donohoe could not immediately be reached for comment on Wednesday morning.