It looks like the Maryland side of Friendship Heights has more development in the works than the DC side.
Carr Companies and The Donohoe Companies have announced their purchase of 5500 and 5520 Wisconsin Avenue (map) in preparation for a mixed-use redevelopment of those sites. The property consists of 44,700 square feet of retail, which will be redeveloped as residential-over-retail, and a Courtyard by Marriott hotel, which will get a refresh and will be operated and managed by Donohoe Hospitality.
“5500 Wisconsin offers the ability to create a truly outstanding mixed-use center, with hotel, retail, and residential components working in harmony,” Matt Buhts, CFO of Carr, said in a statement. The properties were originally built in 1970, and the hotel was previously a Holiday Inn before being repositioned under its current brand in 2009.
The hotel component was acquired in partnership with Argosy Real Estate Partners, and SpringHarbor Financial Group and Kruger Real Estate will be development partners for the residential portion. Construction is expected to begin in late 2022.
This article originally published at http://dc.urbanturf.com/articles/blog/a-residential-development-is-in-the-works-for-friendship-heights/17713
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