Hotel Conversion Targets Tech Workers and Students
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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.