A short stretch of the Georgetown waterfront is in the middle of a genuine transformation, and the latest piece of financing to close shows just how far along it already is. One Street Commercial Properties has secured $20.6 million in Commercial Property Assessed Clean Energy financing from DC Green Bank and PACE Equity Finance to convert the 70,000-square-foot office building at 3333 K St. NW into 22 for-sale condominium units plus ground-floor retail. The C-PACE piece was announced Thursday and recorded in D.C. deed records last month, layered on top of a separate $39 million loan One Street secured in August from Hickory CRE Lending.
Kevin Brandes, One Street’s managing director of commercial properties, told Bisnow part of the Hickory loan paid off the company’s original acquisition debt. One Street bought the 1980s-era brick building, long the headquarters of the nonprofit Legal Services Corp. before it moved out in 2023, for $29.2 million in May 2025. The renovation plan calls for adding a sixth floor for residences, building a penthouse with a rooftop terrace, pool and garden, and carving out ground-floor retail space, all approved by the Old Georgetown Board in April. Delivery is expected by the end of 2027.
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