710-Room Holiday Inn/Radisson Downtown to be Converted to Apartments
El Segundo, California’s Vivo Investment Group (“Vivo”) has acquired the dual-branded Holiday Inn and Radisson Hotel in Downtown Baltimore’s Inner Harbor at 105 W. Fayette St. It is planning to convert the twin tower high-rise property into an apartment community. The hotel towers occupy an entire city block that borders W. Fayette St., N. Liberty St., N. Hanover St., and W. Baltimore St.
The Radisson hotel rooms have been closed since the start of the pandemic in 2020 and the Holiday Inn closed on March 8th. The first hotel tower was built in 1967 and the second was added in 1974.
The complex will be rebranded as Vivo Baltimore and will have studio and one- and two-bedroom apartments. It will offer “amenities found in Class A apartments at rents more affordable than the competitive set in the area.”
The complex has a rooftop pool, workout facilities, and underground parking that will be kept. Vivo will convert the hotel meeting and ballroom space into co-working space, private offices, a tenant lounge, and a movie theater.
“Some renters in Baltimore are spending 50 percent of their income on rent,” said Dan Norville, founder and CEO for Vivo, in a press release. “It’s expensive to live in Baltimore’s Inner Harbor where many can walk to their jobs. We are trying to provide that solution by offering naturally occurring affordable rents in a newly-renovated high-rise complex.”
“The property is located in one of the most walkable and accessible neighborhoods within Baltimore with a walk score of 99 out of 100,” said Vivo Principal Joseph Soleiman in a press release. “It is across the street from Royal Farms Arena which is going through a $150-million renovation by its operators the Oak View Group and Thirty Five Ventures, the investment company of NBA player Kevin Durant.”
“By replacing the struggling hotels with much needed affordable quality housing, Vivo Baltimore will serve to energize the neighborhood with full-time residents who will live, work, shop and eat in the area. Historically these residents would be priced out of the Inner Harbor CBD and would commute long distances increasing their transportation costs and environmental footprint,” said Vivo Partner 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 fan, father of three, amateur pizza chef, skateboarder, and "bar food" foodie. Email me at Kevin@InceptMM.com and follow me on Twitter at @SoBoKevin.
