Ambassador Hotel and Annex

About

Augustine Development Group purchased five lots totaling 1.5 acres for $5.4 million in July 2018. The group has begun work to convert the long-vacant, historic Ambassador Hotel into a 120-room hotel property with a nationally recognized flag at an estimated construction cost of $18 million. The phases following include plans for a 200-unit apartment building and parking garage to further benefit the needs of the Independent Life Insurance Building renovation, also underway on the same street.

Investment: $37.1 million (hotel, multifamily housing and structured parking garage).

Tags

  • Under Construction
Directions

Tags

  • Under Construction