WASHINGTON, DC-The Latham Hotel in Georgetown appears on the brink of being converted to residential and retail use.
SB-Urban, a venture controlled by Mike Balaban and Frank Saul III, has a contract to purchase The Latham from the Lone Star Funds, according to the Washington Business Journal, which reported that Eastdil Secured brokered the transaction.
The 10-story Latham Hotel at 3000 M St. NW was closed last summer as a result of severe water damage. Matthew Le Grant, D.C.'s zoning administrator, revealed in a Sept. 26th letter to The Latham's land use attorney the contemplated change of use. “You are proposing to convert the existing hotel to residential and retail use and eliminate the existing vehicular drop-off driveway, and excavate down two floors to bring daylight to the lower levels.” See story in the Washington Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
