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EIG aims to convert shuttered Ramada Inn in Hialeah to apartments

The Estate Investments Group filed plans to convert a shuttered Ramada Inn in Hialeah into apartments, and construct a pair of commercial buildings.

The City Council will consider several variances for the property at 1950 W. 49th St., right off the Palmetto Expressway, on Sept. 22. The 4.9-acre site currently has a four-story, 258-room hotel that was built in 1970.

1950 Hialeah Holdings LLC, an affiliate of Miami-based EIG, acquired the property for $15.25 million in August. The hotel was closed at the time of the deal.

The developer is seeking a special use permit to convert the hotel building into apartments through adaptive reuse. It would have 251 apartments, with 90% studios ranging from 340 to 599 square feet, and the other 10% one-bedroom units starting at 600 square feet.

Amenities would include a pool, fitness center and grilling stations.

The developer would build a 5,500-square-foot retail building and a 2,036-square-foot restaurant building on the north side of the property, fronting West 49th Street. A 123-space parking garage would be constructed to increase on-site parking to 500 spaces.

EIG officials couldn’t be reached for comment.

“The project’s location within a unique mixture of industrial, commercial and residential uses also allows for an excellent opportunity for employees in the immediate vicinity to live within close proximity to their jobs,” said attorney Alejandro Arias, who represents the developer, in the application.

The hotel building would have a new façade with contemporary finishes, and the parking lot and landscaping would be upgraded.

EIG is one of South Florida’s largest apartment developers, with most of its buildings under the Soleste brand. It usually has a mix of large and small unit sizes, but the Hialeah project would have small units, which often means a lower price point.

According to the application, 1950 Hialeah Holdings is co-owned by Roberto J. Suris Jr., Jeffrey Ardizon, Antonio Castro, Ignacio DuQuesne, Albert R. Maury and Arnaldo Valdes.

South Florida Business Journal. Sept 2020.

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