Former Baltimore lodge to remodel into multifamily property

Vivo Living’s acquisition of the previous Holiday Inn and Radisson towers in downtown Baltimore is the corporate’s third property in Baltimore, becoming a member of 101 W. Fayette St. and 110 W. Baltimore St. (File picture)

Vivo Living, a full-service personal actual property funding and property administration firm in El Segundo, California, Thursday introduced it’s going to rework the previous Holiday Inn and Radisson towers in downtown Baltimore right into a multifamily property.

Located in shut proximity to the Baltimore Convention Center, Royal Farms Arena, Camden Yards, varied courthouses and public transit strains on the intersection of the Inner Harbor and Financial District of Baltimore, the acquisition represents Vivo’s sustainability strategy to reposition functionally out of date properties into cheap way of life residential housing.

Totaling over 400,000 sq. ft of residing area, Vivo’s buy represents the biggest Vivo hotel-to-residential conversion for the reason that starting of the pandemic. These models will probably be accessibly priced, with Vivo focusing on rents that will probably be at a ten% to twenty% low cost to present market fee models, all with out compromising on facilities. At the identical time, Vivo’s sustainability-minded development strategies imply much less emissions from resource-intensive, floor up development.

While the models will probably be market-rate, Vivo’s versatile pricing strategy will attraction to a variety of demographics which search Class-A, hotel-like facilities, corresponding to a lounge foyer with free Wi-Fi, a number of lounges, assembly areas, a rooftop pool and a number of health facilities, along with community-oriented programming and occasions.

Vivo’s mission is to unravel America’s housing affordability disaster via sustainability-focused property acquisition and adaptive reuse of present buildings into residential models. Vivo nationally seeks to enter city markets present process a renaissance, like downtown Baltimore, by offering the neighborhood with extra housing choices together with making a more healthy, safer, and extra livable atmosphere for all.

The property is Vevo’s third in Baltimore, becoming a member of 101 W. Fayette St. and 110 W. Baltimore St.

With areas now in 12 states together with Maryland, Arizona, California, Colorado, Florida, Indiana, Nebraska, North Carolina, Ohio, South Carolina, Texas and Utah, Vivo continues to develop its footprint because the gold-standard nationally for adaptive reuse multifamily housing.

Vivo Living was based in 2020 to supply versatile, fashionable residential models with a wealthy array of facilities not present in typical multifamily residences. Vivo specializes within the adaptive reuse of functionally out of date constructions into amenity wealthy residence communities with an strategy that focuses on reuse and decreasing waste. Vivo’s mission is to unravel America’s housing disaster via reasonably priced adaptive reuse.

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