XonWest will be erected at 1177 22nd St. NW in the city's West End area just outside of Georgetown. Totaling 270,000 sf, the building will occupy a triangular parcel--bound by New Hampshire, M and 22nd Streets--known as Square 71. The plot of land is also home to an Exxon gas station, which will remain in place; its presence, however, will be shielded by a canopy covered in plants and other greenery.
The property will feature units costing as much as $2 million. The Shalom Baranes Associates-designed building will feature a fitness center, conference room, rooftop swimming pool, 8,500 sf of retail space that will include an upscale restaurant, and underground parking to accommodate 175 vehicles. XonWest's most striking feature--and certainly the most talked about, as it is new to Washington, DC architecture--is the structure's façade, which will be made of Zinc, a material that will leave the building awash in a slate blue tint.
Corus Bank, having worked with EastBanc in the past on a $45 million financing package for the developer's condominium project at 3303 Water St. NW in Georgetown, had no qualms about providing the financing for XonWest. "We know the company designs beautiful buildings, and its execution is flawless," Corus Bank first vice president Dwight Frankfather notes. "I know this will be a very expensive building, but I am confident that the units will be well-received in the market. EastBanc plans to open the doors of XonWest in the winter of 2006 or the spring of 2007.
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