Toll Brothers City Living® Purchases Prime Site in Bethesda’s Woodmont Triangle Neighborhood
Horsham, PA (PRWEB) February 01, 2016 -- Toll Brothers, Inc. (NYSE:TOL) the nation's leading builder of luxury homes, today announced its newest urban community from its successful Toll Brothers City Living® division in the Washington, DC urban market. The firm has purchased a development site in Downtown Bethesda, Maryland. Located at 8008 Wisconsin Avenue, the site is bound by Woodmont and Wisconsin Avenues and the full length of Cordell Avenue. The Company's plans call for a 14-story building comprised of approximately 100 luxury condominium residences with 24/7 attended lobby, concierge services, landscaped rooftop terrace, fitness center and underground parking. Construction is anticipated to begin in the Summer of 2017, with sales projected to start in the Winter of 2017.
Douglas C. Yearley, Jr., the Company's chief executive officer, stated, "With the strong interest we are seeing at Hampden Row, our first Bethesda Toll Brothers City Living building, we are extremely excited to be expanding our City Living brand in the highly-desirable Bethesda market, while further increasing the Toll Brothers urban footprint in the DC metro area.”
“We are enthusiastic about the Washington, DC metro area and have a team dedicated to acquire, develop and build luxury condominiums. With significant capital on hand, we are positioned to close quickly on deals in primary urban locations,” said Thomas Mulvey, President of Toll Brothers City Living. “The new acquisition on Wisconsin Avenue is a prime example and we are actively looking for more development sites to complement it.”
After Hampden Row, this will be the second condominium site for the Company in the Greater DC urban market. Toll Brothers recently leased up its first urban Washington, DC rental community, Parc Riverside, along the Capitol Riverfront and is beginning development on an adjacent site for Phase II. Construction of Union Place, another rental community, is also commencing at the intersection of 2nd and L Streets in the NoMa/H Street area of Washington, DC. These communities are being developed under the Toll Brothers Apartment Living® brand.
Toll Brothers City Living® is the urban development division of Toll Brothers, Inc., the nation's leading builder of luxury homes. Toll Brothers City Living® is bringing the same quality, value, and service familiar to our luxury home buyers throughout the country to some of the most dynamic urban markets including New York City; Hoboken and Jersey City, New Jersey; Philadelphia, Pennsylvania; and the Greater Washington, DC, metro area. Toll Brothers City Living communities combine the energy of an urban lifestyle with unparalleled amenities, spectacular architecture, and energy-efficient home design.
Toll Brothers, an award-winning Fortune 1000 company founded in 1967, embraces an unwavering commitment to quality and customer service. Toll Brothers is currently building nationwide and is a publicly owned company whose stock is listed on the New York Stock Exchange (NYSE: TOL). The Company was named America's Most Trusted Home Builder™ 2015* by Lifestory Research, receiving the highest numerical score among the largest 133 home builders in the country in a study that measures, among other things, perceptions of quality, price, reputation, and trust. Toll Brothers was also recently named national Builder of the Year by BUILDER magazine, and was twice named national Builder of the Year by Professional Builder magazine.
Toll Brothers proudly supports the communities in which it builds; among other philanthropic pursuits, the Company now sponsors the Toll Brothers – Metropolitan Opera International Radio Network, bringing opera to neighborhoods throughout the world. For more information, visit http://www.tollbrothers.com.
Kira Sterling, Toll Brothers, Inc, +1 (215) 938-8220, [email protected]
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