California Developer Vivo Living Acquires Hotel Complex In Baltimore, Plans To Turn Towers Into Apartments
BALTIMORE (WJZ) -- A California developer has acquired a downtown complex with two former hotel towers and plans to convert the buildings into housing.
Vivo Living, which specializes in redeveloping old hotels, purchased the complex in the 100 block of W. Fayette St., including more than 700 units. The towers most recently were home to the Radisson Hotel Baltimore Downtown-Inner Harbor and the Holiday Inn Baltimore-Inner Harbor.
The complex will retain some of the amenities from its past life as a hotel, such as lounges, meeting areas, fitness centers and a pool.
"Some renters in Baltimore are spending 50% of their income on rent. Vivo Living offers naturally occurring affordable rents in a newly renovated high-rise located in the heart of Baltimore's Inner Harbor where many can walk to their jobs." notes Dan Norville, founder and CEO of Vivo Living.
The company, headquartered in El Segundo, CA, said it has undertaken similar hotel conversions in Arizona, California, Colorado, Florida, Indiana, Nebraska, North Carolina, Ohio, South Carolina, Texas and Utah.