El Segundo, California’s Vivo Investment Group (“Vivo”) has obtained the dual-branded Holiday Inn and Radisson Hotel in Downtown Baltimore’s Interior Harbor at 105 W. Fayette St. It is arranging to change the twin tower significant-increase home into an apartment community. The resort towers occupy an whole metropolis block that borders W. Fayette St., N. Liberty St., N. Hanover St., and W. Baltimore St.
The Radisson hotel rooms have been shut because the start of the pandemic in 2020 and the Holiday Inn shut on March 8th. The initially resort tower was created in 1967 and the 2nd was included in 1974.
The elaborate will be rebranded as Vivo Baltimore and will have studio and one particular- and two-bedroom apartments. It will give “amenities located in Class A flats at rents a lot more affordable than the competitive established in the space.”
The complicated has a rooftop pool, exercise session amenities, and underground parking that will be saved. Vivo will convert the resort assembly and ballroom space into co-doing work house, non-public places of work, a tenant lounge, and a movie theater.
“Some renters in Baltimore are investing 50 % of their money on rent,” reported Dan Norville, founder and CEO for Vivo, in a push launch. “It’s highly-priced to reside in Baltimore’s Internal Harbor where by numerous can walk to their jobs. We are hoping to present that solution by featuring in a natural way developing affordable rents in a newly-renovated large-increase elaborate.”
“The residence is situated in a single of the most walkable and accessible neighborhoods within just Baltimore with a wander rating of 99 out of 100,” said Vivo Principal Joseph Soleiman in a press release. “It is throughout the road from Royal Farms Arena which is likely via a $150-million renovation by its operators the Oak View Team and Thirty 5 Ventures, the financial investment company of NBA player Kevin Durant.”
“By replacing the having difficulties inns with substantially necessary economical high-quality housing, Vivo Baltimore will serve to energize the community with total-time people who will dwell, do the job, shop and consume in the space. Historically these inhabitants would be priced out of the Internal Harbor CBD and would commute long distances raising their transportation prices and environmental footprint,” said Vivo Spouse and CIO Brett Tanimoto in a press release.
About the Author: Kevin Lynch
Founder and Publisher of SouthBmore.com, longtime resident of South Baltimore, and a graduate of Towson University. Diehard Ravens and O’s enthusiast, father of a few, novice pizza chef, skateboarder, and “bar food items” foodie. Electronic mail me at [email protected] and comply with me on Twitter at @SoBoKevin.