Atlanta Housing buys 375-room, Ramada Plaza Hotel, in Summerhill for $17.45M ($46,531/unit) for conversion to affordable housing

8/30/2024

|

REBusinessOnline

• Subcategory: Hospitality: Hotel, MF: Affordable

• Tag: Conversion | Sale | Strategy

• Additional Filters-Subcategory: MF: Highrise

• Additional Filters-Tags: Conversion: Hotel-to-Multifamily

Andy Lundsberg and Michael Wess of Bull Realty have brokered the sale of a former Ramada Plaza hotel located at 450 Hank Aaron Drive in Atlanta’s Summerhill neighborhood. The Atlanta Housing Authority (AHA) purchased the 406-room, 246,000-square-foot hotel for nearly $17.5 million.