The Embassy Suites Inner Harbor hotel and The Grand events venue have been sold for $18 million to a Washington, D. C.-based investment group that wants to convert the hotel to apartments.
Urban Investment Partners Cos. (UIP) is the company that wants to transform the 37-story hotel into residences, according to the Downtown Partnership of Baltimore.
UIP has nearly reached its goal of raising $11.6 million in equity capital to launch a conversion of the 37-story tower and has a deadline of July 21, the Partnership posted on its website.
Located at 222 St. Paul Place, the Embassy Suites property first opened as an apartment building and was converted into the Tremont Suites Hotel about 30 years ago. One of the tallest buildings in the city, it was rebranded as an Embassy Suites property in 2013.
The Grand, a former Masonic lodge at 225 North Charles Street, was constructed in 1866 and has 45,000 square feet of meeting space. Connected to the hotel tower, the seven-story building is used as a setting for proms, wedding receptions and other gatherings.
Acquisition of the Embassy Suites and The Grand marks UIP’s first purchase in Baltimore, the Downtown Partnership noted.
Ed Gunts is a local freelance writer and the former architecture critic for The Baltimore Sun.
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July 12, 2021 at 06:30PM
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