EIG Aims To Convert Shuttered Ramada Inn In Hialeah To Apartments

The Estate Investments Group filed plans to convert a shuttered Ramada Inn in Hialeah, located at 1950 W. 49th St., into apartments, and construct a pair of commercial buildings.

The 4.9-acre site currently has a four-story, 258-room hotel that was built in 1970.

1950 Hialeah Holdings LLC, an affiliate of Miami-based EIG, acquired the property for $15.25 million in August. The hotel was closed at the time of the deal.

The developer is seeking a special use permit to convert the hotel building into apartments through adaptive reuse. It would have 251 apartments, with 90% studios ranging from 340 to 599 square feet, and the other 10% one-bedroom units starting at 600 square feet.


Source:  SFBJ

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