[[{“value”:”
EYA and JM Zell Partners have been selected to lead the redevelopment of Geico’s long-time corporate campus in Chevy Chase. The partnership brings together Bethesda-based EYA, a developer known for its focus on townhome communities, and Washington, D.C.-based JM Zell Partners, a real estate firm with regional experience. Their selection marks a key milestone in the repositioning of the insurance company’s legacy headquarters property.
Geico has entered into an agreement to sell the 26-acre campus at 5260 Western Ave to EYA. Under the proposed concept, the site is expected to be transformed into a transit-oriented residential community. Current plans contemplate up to 520 new residential units across the campus, indicating a substantial shift from its historic use as a single-user corporate facility.
The planned residential program would be divided between for-sale and rental product types. Of the total contemplated residences, 184 are designed as townhomes, aligning with EYA’s development specialty. The balance of 336 units is planned as multifamily apartments, to be delivered across three separate buildings on the site. This mix would introduce a significant new residential presence in the immediate area surrounding the former campus.
Before formal entitlements are pursued, EYA and JM Zell are expected to convene an in-person community meeting to present their vision and gather feedback from local stakeholders. Following that outreach, the development team plans to submit detailed project applications to the Montgomery County planning department for review. The entitlement process will shape the final unit count, building configurations, and site design.
The redevelopment initiative follows Geico’s previously announced decision to vacate its long-standing headquarters in Chevy Chase. Approximately a year prior to this latest announcement, the company disclosed that it would relocate from the campus to a trophy office property at 7272 Wisconsin Ave in Bethesda. That move, reported by the Washington Business Journal, underscored a broader shift in the company’s workplace strategy and set the stage for repositioning the Chevy Chase property.
As plans advance, the Geico campus transaction and redevelopment will remain subject to community engagement and county planning approvals. No financial terms have been disclosed for the sale, and the article does not specify a project timeline, anticipated delivery dates, or any prospective nonresidential uses. However, the announced development team and residential program outline provide an initial framework for the future of the 26-acre site.
“}]]
