A site at 4915 Hampden Lane will soon be transformed into a seven-story residential building with 60 luxury condos and underground parking.
The plans were announced in a Thursday press release by luxury homebuilder Toll Brothers, which has acquired the site and opened a Washington, DC, office in downtown Bethesda.
A fall groundbreaking is expected for the project, according to the release, with sales opening in spring of 2014.
It's the first urban project in the Washington region for Toll Brothers, a company based out of Horsham, PA that has developed extensively in the New York City region, according to a report in the Washington Business Journal.
"We are enthusiastic about the Washington, D.C. metro area. With significant capital on hand, we are positioned to close quickly on deals in prime urban locations," said Stephen Alfandre, Director of Acquisitions for Toll Brothers City Living D.C., in the statement. "The new site on Hampden Lane is a prime example and we are actively looking for more development sites to complement it."
It's not clear whether development approvals exist on the site or whether the developer will need to seek new approvals through county planning staff. A spokeswoman for Toll Brothers couldn't immediately be reached.
Nearby, on the site of the BP gas station at 4900 Fairmont Ave., plans for another residential structure were also recently announced, according to a Bisnow report.
A 17-story high-rise with 70 condos is planned for the site, according to the report.