Hotel-to-condo conversions reach new heights

SANTA MONICA, Calif. -- Jan. 18, 2006 -- Developers increasingly are converting hotels and other buildings into high-end condominiums.

A hospital in Philadelphia's Franklin Park neighborhood has been transformed into 130 condos. The MetroClub Condominiums boasts sound-proof units. The developer retained many of the building’s features, such as the drive-in entrance, spacious lobby, marble walls and elevator banks.

In Miami Beach, meanwhile, Christa Development is converting the historic Caribbean hotel into 35 condos priced in the $1 million range. The company also is adding an adjacent tower with 68 units. Residents will enjoy an oceanfront pool, a fitness center, and a wine vault, among other amenities.

Source: Unique Homes (01/01/06); Sapio, Erica

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