More Schoolhouse Condos for Georgetown?

By Mark Wellborn
|  Tuesday, May 4, 2010  |  Updated 4:46 PM EDT
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More Schoolhouse Condos for Georgetown?

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The Corcoran Gallery of Art has issued a press release stating that the arts institution recently sold the former Fillmore School in Georgetown to EastBanc, Inc. The Georgetown Metropolitan is reporting that the development company may turn the property into luxury condos. Located at 1801 35th St. NW (map), the Fillmore School was known for its arts programs for DC youth.

We have reached out to representatives at EastBanc to find out if indeed the future for the building will involve condos. Given the development firm’s history (22 West, 3303 Water Street), we feel that it is a pretty safe bet that there will be some residential component.

What is not necessarily a safe bet is the ability of those condos to eventually sell quickly. Wormley Row, another schoolhouse-cum-condo development in Georgetown, ran into some trouble unloading its units (which were all in the $1 to $4 million range) when they hit the market.

Also, the Georgetown Metropolitan notes the property is currently “zoned for R-3, which doesn’t permit apartment buildings, so an appeal to the BZA would be necessary.”

We will update you about the future of this building when we have more information.

More recent articles about DC area real estate from UrbanTurf:

 

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