EastBanc Buys Gas Station Property for $4 Million

EastBanc, Inc., completed its purchase of the Valero gas station at 2715 Pennsylvania Ave. NW for $4 million.

The site – at the eastern entrance to Georgetown – is a triangle of land between Rock Creek Park, M Street and Pennsylvania Avenue and sits across from the Four Seasons Hotel. The developer bought it from ABC Automotive LLC, the Washington Business Journal first reported.

Anthony Lanier, president of EastBanc, told the Journal: “This site needed to be done. It’s the entrance of Georgetown. I think it’s one of the most important sites in the city, and it shouldn’t be a gas station.”

EastBanc also is developing the Key Bridge Exxon property at 3607 M St. NW on the west side of town and has completed many additions and renovations to the Georgetown scene, including the Georgetown Post Office, Cady’s Alley, Ritz-Carlton, Nike and 1055 High condos. It is building the new West End Public Library and re-doing the West End firehouse.

At a community meeting in November, Lanier talked about the new project, which will include ground-floor retail with apartments or a hotel on the upper floors. He hired Portuguese architect Eduardo Souto de Moura and told the group to “keep an open mind.”

At the Georgetown Valero, Eddie the mechanic said the station was getting new pumps and would be cleaned up.