More Details on the Fillmore School Deal

GM reported on Monday that the Corcoran College of Art + Design had sold the historic Fillmore School building at 1801 35th St. to EastBanc. Few details were available at the time, but since then GM has learned of some more key elements of the proposed plan:

The Condos:

A EastBanc representative confirmed the project to GM and added that the main building will be converted to approximately 15 condo units. This is only one more than the number of condos that were built in the old Phillips School building, which will likely serve as a model for EastBanc’s project (they could theoretically look to the Wormley School conversion as a model, but in that case the developer made the units too expensive and has had a tough time selling them off, so EastBanc should probably treat that project as a warning not a model).

Townhouses:

Much like EastBanc’s proposals for the Georgetown post office, they are also contemplating building townhouses where the Fillmore School parking lot is right now. The parking is rather large. By GM’s eyeballing, it looks to be about 4-5 times larger than the parking lot of the post office, where EastBanc has proposed to build four townhouses. So it would reason that EastBanc could proposed somewhere around 16-20 townhouses.

The Phillips School also involved townhouses being built on the parking lot. At that property, the developers added fourteen townhouses to the parking lot, which was slightly smaller than the Fillmore School parking lot. That would seem to support a mid-teens prediction for the Fillmore project.

The Playground:

One reader has already predicted Burleithian riots if the Fillmore playground is removed. EastBanc assured GM that they would like to work with the community to keep the playground open and accessible by the community. That’s not a stone cold guarantee, but it’s a good start at least.

The Timeline:

The deal should close in the fall at which point the Corcoran College of Art + Design will enter a leaseback arrangement and continue to occupy the building until the end of June 2011. Construction would begin shortly thereafter.

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11 Comments

Filed under Real Estate

11 responses to “More Details on the Fillmore School Deal

  1. Johnny

    Speaking of real estate deals involving EastBanc, can you keep us posted on the auction sale of georgetown park mall that is taking place today?

  2. Atta boy Anthony! Pack ’em in. The more housing units, the more business for all those furniture stores down on M Street.

  3. Ken Archer

    Is Lanier only able to build on parking lots thanks to the lifting of most minimum parking requirements by the Offices of Zoning and Planning?

  4. GM

    Ken,
    I’m not sure about that. As you know, the parking lot at Fillmore is huge. It must be about 75 spaces or so. I don’t think they’d be forced to keep all of them even under the old guidelines. The Phillips School looks like it was built with only about 35 parking spaces or so for the school building and the town houses, and that was converted under the old rules I believe.

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