Holiday Inn Makes Room for New Orlando Condos

Lending credence to the claim that condo-hotels are all the rage in Orlando is the conversion of downtown´s former Holiday Inn. The conversion will not only serve as a four or five star hotel, but will also add 288 Orlando condos to the booming market.

The internal and external $25 million renovation of the 4.5 acre property will create primarily studio-style Orlando condos priced at $179,000, but there will also be 52 one-bedroom units selling at $329,000 and "a penthouse suite expected to sell for more than $1.75 million." Those who buy the hotel´s Orlando condos will be given the option of living in their units or renting them out "for hotel use through an onsite management company."

The five story building will include a spa, exercise facilities and retail and office space, totaling a projected 1,000 units.

Orlando CityPlace paid $22 million to become the proud owner of Orlando´s newest condo-hotel.