Real Estate News: Apartments to take over 19 story hotel at I-10 and 6

A rendering of what the former Wyndham at Highway 6 and I-10 might look like post-conversion. Source: shircapital.com

 

In what would be a scoop for Swamplot if they were still publishing, it seems that Hotel-to-Apartment conversions are back in style again in Houston. Most famously in Houston, the former Holiday Inn at 2100 Memorial Drive, which was demolished just over a year ago, was converted into rent-controlled apartments for seniors, mostly by the City of Houston. Unlike the previous concept, these new hotels to apartments are being developed using private funds. As of this post, there are currently four conversions permitted or partially underway, backed by two different companies. MCRE (originally Mountain Country Real Estate) is a Utah-based company handling three of the four conversions. Their properties are three former Studio 6 Extended Stay hotels.  With one at 1255 Hwy 6, Houston, TX 77084, another at 14255 Northwest Fwy, Houston, TX 77040, which will be renamed The Reserve at Rye 290, and the last at 3030 W Sam Houston Pkwy S, Houston, TX 77042, which will be called, The Fusion at RYE 3030. The conversion of the former Energy Corridor Wyndham at 14703 Park Row, Houston, TX 77079 is being handled by Shir Capital, who has five conversions already under their belt, including one in their home base of Austin. As the Wyndham was not an extended stay, more extensive remodeling will be required to add kitchens and extra electrical capacity. While no date has been given for MCRE’s properties, Shir Capital plans to open its apartments under the name Teak about a year from now, in Quarter three of 2023.

3 comments

  1. A long-rumored project, but they got really good at keep their mouths shut about it after the idea first leaked out after the Wyndham closed. Glad to see it official, the area needs housing much more than hotel rooms right now.

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