Thor Equities has filed plans for a new hotel at the site of the former Latham Hotel in Georgetown.
Plans call for the property at 3000 M St NW to be converted into an 82-room hotel with roughly 34k SF of retail space. Thor’s proposal is similar in terms of massing, design and scale to a previous proposal from developer SB-Urban to convert the property into a 140-micro-unit development, Urban Turf reports.
Thor shared renderings with us that give a sneak peek into Thor’s plans for the 10-story, 125k SF corner building. Gone is the aging building that was the Latham Hotel, and in its place will rise a modern structure that will fit right in on the prime retail corridor of M Street. Several of the world’s top retail brands are along M Street and the surrounding area, including Michael Kors, Brooks Brothers and J. Crew.
NY-based Thor Equities acquired the property from SB-Urban last year for $53M. Plans for the new hotel were filed this past Wednesday with the Board of Zoning Adjustment.
Update, July 20: Thor has officially closed on the purchase for $53.35M. The latest details on the plan call for a 27k SF flagship retail space, and a luxury, boutique hotel with up to 100 rooms. Thor Equities CEO Joe Sitt will be speaking at Bisnow's DC Retail & Restaurant event Aug. 23. [UT]
