It appears the name Chevy Chase evolved from the
development of the lands outside the District of Columbia as
part of the real estate development boom on the late 1880s.
One Francis G. Newlands married the daughter of U.S. Senator
William Sharon, who had made a fortune from the
Comstock Lode and other mining and real estate ventures.
Senator Sharon etc. developed Washington real estate around
Dupont Circle prior to 1885. When Sharon died, his son-in-law,
Newlands, was the executor and thus had considerable
resources at hand to go into real estate. Newlands
himself was a congressman and later became a senator. In
1887, Newlands decided to launch a great plan of land
purchase amounting to more than 1,700 acres, along with a
comprehensive plan of suburban development called the
Chevy Chase Land Company.
The Rock Creek Railway was chartered in 1888 by the owners
of the Chevy Chase Land Company. It was intended primarily
to enhance the value of their property as well as provide
transportation from the city. It ran from 18th & U Sts NW out
Connecticut Ave to the Chevy Chase Lake.
Newlands developed Chevy Chase Village as a planned
community, with zoning, architectural controls, schools,
churches, water, and sewage systems. At Chevy Chase Lake a
power house was built to run the streetcars, street lights and
provide electricity to the houses which would be built.
The Chevy Chase Land Co. began purchasing property in
1890. This was a slow process and during his lifetime,
Newlands developed only a small portion of the land
designated as homesites. Most development took place
during the building boom after WWI. It wasn't until the 1920s
that the Chevy Chase Land Co. was able to pay off its large
debts and provide capital for commercial development.
The bank spawned from this Land Co.
The actor got his name in a similar way; it's his stage name,
real name being Cornelius Crane Chase Jr.
Hope this helps!
