The Richardson City Planning Commission greenlighted the conversion of a former hotel into an apartment complex in Richardson. The approval will allow developer Blue Ocean Real Estate to more easily convert hotel rooms inside the former Trellis extended-stay hotel, located between North Collins Boulevard and US 75, into studio and one-bedroom apartments.
The sizes of the rooms will be a minimum size of 350 square feet for studio apartments and 400 square feet for one-bedroom units.
The apartment complex will have units spread across four buildings with a main clubhouse area.
Blue Ocean says its strategy is acquiring well-located properties with deep value creation potential across all Real Estate product types. Typical scope includes moderate-to-heavy rehabilitation over a three-to-five year period.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.