A Netherlands Antilles corporation, faced with near-unanimous opposition from Georgetown residents, has dropped plans to build a 41-room luxury hotel along Wisconsin Avenue NW, but now its alternate proposal to build eight condominiums is not popular either.

A group of Georgetown residents, including D.C. council member Polly Shackleton (D-Ward 3), objected to the condominium plan yesterday at a meeting of the Commission of Fine Arts, which promptly rejected the proposal. The citizens gave the commission a petition they said contained the signatures of 255 people opposing the project.

Shackleton lives on Reservoir Street NW, a half block to the rear of the would-be condominiums on the southeast corner of Wisconsin and Reservoir. Shackleton said after the hearing that the project "is totally inappropriate" because of its size. She said one of her neighbors nicknamed the venture "tenement towers."

The commission, which judges the aesthetic quality of new development in Georgetown and much of the federal areas of Washington, can only recommend to the city that the project not be built. But its opinions usually prevail.

Architect William Cochran, presenting the proposal for the Aramus Corp. of the Netherlands Antilles, said he would now "see what the owners want to do" before proceeding further on the proposal.