Plans to convert Georgetown's Latham Hotel to micro units are being shelved. The hotel closed due to water damage in 2012, after which SB-Urban paid $45M to acquire and eventually redevelop the property. SB-Urban's Mike Balaban has changed his mind as the hotel industry has heated up in DC and is now looking to flip the property, the Georgetown Current reports. The planned conversion, rendered above, would have brought 140 units at 330 SF or less to the neighborhood, as well as 12k SF of ground-floor retail. According
to Balaban, his other two micro unit projects in DC, at Patterson Mansion in Dupont Circle and in Blagden Alley, are approved and could start construction this year. SB-Urban already has a broker lined up, and the property should be on the market soon. [GC]
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