Shuttered Cabana Hotel to Become Multifamily Community

The 268-unit hotel had a rich future but fell into disrepair and was even turned into a county jail annex. A local developer bought the shuttered Cabana Hotel and hopes to redevelop it into affordable apartments.

CandysDirt.com reports that the buyer, Sycamore Strategies, is seeking Low-Income Housing Tax Credits to finance the development. They plan to remove the existing parking garage, construct the apartment rentals and create a better pedestrian connection on the back side of the property along Slocum Street. 

Built in 1962 by Jay Sarno of Caesar’s Palace fame, the Cabana Hotel was the site of celebrity parties with The Beatles and Led Zeppelin. Centurion American Development bought it in 2017 for $8.1 and spent an estimated $100 million with the intention of converting the hotel to apartments. Instead, the group sold to Sycamore, who purchased the property for an undisclosed sum.