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Florida & Gulf Coast  + Central Florida  + Apartments  | 
One Stop Housing purchased the Ambassador Hotel in Orlando, FL for $7.1 million amid plans for redevelopment into low-income apartments.

One Stop Housing Acquires $7M Orlando Hotel for Transition to Low-Income Housing

Sarasota, FL-based One Stop Housing has completed its $7.1-million acquisition of the Ambassador Hotel in Orlando, FL with intentions of redeveloping the property into 150 affordable, low-income apartments.

Glen Jaffee of Cushman & Wakefield represented the seller, Sammy Investments Orlando, and procured the buyer for the off-market transaction.

“Affordable housing is a significant problem in Central Florida, and I wanted to figure out a way to help,” said Jaffee. “There were no plans for the Ambassador Hotel to be sold, but after reaching out to the owner, the stars seemed to align. After also contacting the City of Orlando and Orange County about the opportunity to support new workforce housing which the area critically needs, with their collective support, we were able to make the transaction work.”

The 1958-constructed hotel at 929 W Colonial Drive will become a mix of studio, one-, and two-bedroom apartments. Once complete, the community will become the eighth hotel property in FL and TN that One Stop Housing has converted into affordable housing.

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Cushman & Wakefield's Jaffee

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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