Vivo Investment Group has acquired a 710-key former hotel in downtown Baltimore from McSam Hotel Group. The company will transform the site in the city’s Inner Harbor into a multifamily property and rebrand its new asset as Vivo Baltimore.
The property occupies an entire city block downtown at the intersection of West Fayette and North Liberty Streets. It features two towers, one formerly occupied by the 27-story Holiday Inn Baltimore, located at 105 W. Fayette St., and the other previously housing the 23-story Radisson Hotel Baltimore Downtown, located at 101 W. Fayette St.
READ ALSO: National Multifamily Report – March 2022
Vivo Investment noted the site was originally constructed in 1967 as the 23-story Statler-Hilton Hotel, with the taller tower added in 1974. The property was adapted into two separate hotels that shared facilities in 2018.
“Vivo aims to reduce traffic, waste and sprawl by carefully selecting each location to be in physical proximity to shopping, markets, entertainment, transportation and other necessities,” Dan Norville, founder & CEO of Vivo, told Multi-Housing News.
The new owner intends to convert the former Baltimore hotel property into apartments but declined to state the total number of units that Vivo Baltimore would eventually offer. Vivo Investment stated the studio, one- and two-bedroom units be offered at affordable rents compared with other similar properties in the area. The company plans to start leasing apartments at Vivo Baltimore in 2023.
Vivo Baltimore will provide residents with conveniences that will include the existing rooftop pool, multiple work-out facilities and subterranean parking. Vivo Investment will transform the former hotel’s meeting space and ballrooms into coworking space, private offices, a resident lounge and a movie theater.
Urban Design Group is the project’s architect. Michael Burton, the company’s president, is leading the design and approval process.
The property is across the street from Liberty Dog Park and Royal Farms Arena and the Charles Center station of the Maryland Transit Administration’s Metro SubwayLink. Vivo Baltimore residents will be walking distance of entertainment, dining and retail options downtown.