WASHINGTON, DC—EastBanc Inc. is in the process of acquiring a wedge-shaped gas station property in Georgetown and likely convert it into a “signature” residential development.

EastBanc President Anthony Lanier says the firm is in contract to acquire 2715 Pennsylvania Ave. NW across the street from the Four Seasons Hotel in Georgetown. The property could accommodate between 15,000 to 18,000 square feet of what would likely be residential development, according to the Washington Business Journal.

“It’s certainly a unique site for Georgetown,” Lanier says. “I look at this as, so to speak, a civic responsibility to do something special here.” EastBanc is also planning another gas station redevelopment—a 27-unit condo project at the opposite end of Georgetown at 3607 M St. NW. See story in the Washington Business Journal.