Vivo Living, a full-service private real estate investment and property management company in El Segundo, California, Thursday announced it will remodel the former Holiday Inn and Radisson towers in downtown Baltimore into a multifamily property.
Located in close proximity to the Baltimore Convention Center, Royal Farms Arena, Camden Yards, various courthouses and public transit lines at the intersection of the Inner Harbor and Financial District of Baltimore, the acquisition represents Vivo’s sustainability approach to reposition functionally obsolete properties into reasonably-priced lifestyle residential housing.
Totaling over 400,000 square feet of living space, Vivo’s purchase represents the largest Vivo hotel-to-residential conversion since the beginning of the pandemic. These units will be accessibly priced, with Vivo targeting rents that will be at a 10% to 20% discount to current market rate units, all without compromising on amenities. At the same time, Vivo’s sustainability-minded construction methods mean less emissions from resource-intensive, ground up construction.
While the units will be market-rate, Vivo’s flexible pricing approach will appeal to a wide range of demographics which seek Class-A, hotel-like amenities, such as a living room lobby with free Wi-Fi, multiple lounges, meeting areas, a rooftop pool and multiple fitness centers, in addition to community-oriented programming and events.
Vivo’s mission is to solve America’s housing affordability crisis through sustainability-focused property acquisition and adaptive reuse of existing buildings into residential units. Vivo nationally seeks to enter urban markets undergoing a renaissance, like downtown Baltimore, by providing the community with more housing options along with creating a healthier, safer, and more livable environment for all.
The property is Vevo’s third in Baltimore, joining 101 W. Fayette St. and 110 W. Baltimore St.
With locations now in 12 states including Maryland, Arizona, California, Colorado, Florida, Indiana, Nebraska, North Carolina, Ohio, South Carolina, Texas and Utah, Vivo continues to expand its footprint as the gold-standard nationally for adaptive reuse multifamily housing.
Vivo Living was founded in 2020 to offer flexible, modern residential units with a rich array of amenities not found in typical multifamily apartments. Vivo specializes in the adaptive reuse of functionally obsolete structures into amenity rich apartment communities with an approach that focuses on reuse and reducing waste. Vivo’s mission is to solve America’s housing crisis through affordable adaptive reuse.