Photo by NCinDC.
Michael Neibauer of the Washington Business Journal has a great scoop on the future of the Latham Hotel property: it’s being converted to apartments. And not just typical apartments; mini-apartments.
SB-Urban, a new venture from Mike Balaban and Frank Saul III, has a contract to purchase The Latham from Texas-based Lone Star Funds, numerous sources familiar with the deal confirm…a site plan that accompanies the [letter to the Zoning Administrator] suggests there will be roughly 122, most in the 250- to 400-square-foot range. The Latham Hotel had 133 rooms.
The plans that Neibauer include make it look like the hotel rooms will simply be converted to apartments. Think about the last time you were in a hotel room; now imagine living there.
But hey, there’s a market for it. And it certainly lowers the cost of living (well, at least it ought to) for people who don’t like to own much stuff. The city’s got to add residents, and Georgetown has to be a part of that. This is a good way to add 122 housing units at a (relatively) low cost. Although chances are they will mostly be taken up by short term residents whose primary residence is elsewhere.
In addition, Neibauer writes that the proposal calls for at least one restaurant and 12,100 square feet of retail. Of course before the mysterious “water damage” that closed the Latham, it had two restaurants: the budget but amiable La Madeleine, and the far from budget Citronelle. Michel Richard has already announced that he is not bringing Citronelle back (at least to this location). No word yet on La Madeleine.