Posted May 13, 2021
With the successful sale of The University Inn & Suites located at 691 W Tennessee Street, Tallahassee FL, a national trend in the hotel industry is set to arrive in our local community. The National Association of Realtors has reported that of the 187 hotel or motel conversions which have taken place nationally, approximately 60% of these have been converted to housing. Some have gone the route of becoming housing specifically for healthcare workers given the Covid-19 Pandemic. Some have become Veteran's housing, Workforce housing, or simply standard multifamily apartments. Others still have undergone conversions into health facilities like hospitals, retail establishments, or various industrial uses. While our University Inn & Suites was far from "run down", this transition of distressed hotel sites is ushering in a wave of downtown redevelopment nationwide.
To learn more, check out the original article on Globe St., written by Les Shaver