Hotel Conversion Targets Tech Workers and Students
CIBT Education Group has acquired Viva Suites hotel at 1311 Howe St and unveiled plans to reconfigure the building. CIBT—which purchased the property via a partnership involving its subsidiary Global Education City Holdings—will convert the fully operational hotel into apartments (renovating suites floor by floor) and a long-stay hotel catering to tech sector workers and an ever-growing population of international students, a group that's currently underserved by viable housing options. The revamped Viva building will have up to 230 beds, and a fitness centre, library and TV lounge. Total investment, including purchase price and renovation costs, will be $37M.