Georgetown developer EastBanc has broken ground on the redevelopment of a small but prime piece of Pennsylvania Avenue real estate at the eastern entrance of Georgetown.
For decades, the triangle-shaped lot where Pennsylvania Avenue merges with M Street at 27th Street, across the street from the Four Seasons Hotel, was home to a gas station. EastBanc bought the property a decade ago, and began preliminary site work before the pandemic. The pandemic’s economic downturn postponed EastBanc’s development.
The new 26,000-square-foot apartment building will include seven luxury residential units and a 3,600-square-foot penthouse. It marks EastBanc’s first new construction project in D.C. since completing the 172-unit residential building The Silva on Columbia Road NW.
2715 Penn, as the building is currently called, was designed by Portuguese architectural firm Souto de Moura as its first project in the U.S., along with Shinberg/Levinas Architects and CORE Architecture. The general contractor is Donohoe Construction.
The building will also include ground floor retail space. Construction is expected to be completed by the end of 2026.
EastBanc did not disclose prices for the rental units. They’ll likely be expensive. Units start at 2,200-square-feet and include private terraces.
EastBanc is the largest owner of commercial space in Georgetown, much of it leased to restaurants and retailers along M Street.
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