A new reuse program will convert Sterling Heights Hotel into residential housing to attract remote workers. Following the global shift to remote work, the hotel will feature affordable flats, restaurants, and co-working spaces.
The Los Angeles-based development company Repvblik company believes that adaptive reuse of vacant properties solves the US housing shortage.
Plato’s Cave: Reconverting Hotels To Attract Remote Workers And Offer Affordable Studios
The project Plato’s Cave converts hotel rooms into a studio and one-bedroom apartments to attract remote workers. The average rent starts at $495, designed for those struggling to rent a flat but looking for privacy while working. Usually, most cities’ economies grow thanks to tourism. After the pandemic, however, most hospitality workers lost their jobs, and attracting remote workers is a better strategy.
The Los Angeles Sterling Heights is the new goal of the company, purchased for $5.25 million in late June.
The reuse project will turn the hotel rooms into 155 studio apartments and 53 one-bedroom units. Placing $10 million to redevelop the hotel, the Plato’s Cave Sterling Heights project will feature co-working spaces, restaurants, fitness areas, onsite storage, and maybe a retail space. Following other reconversions, the hotel is turning into a hub attracting remote workers.
As founder and CEO of Repvblik, Richard Rubin, said: “Sterling Heights is a tremendously strong and attractive market with big demand for affordable, quality housing.”
Exact numbers weren’t yet made available. However, the company plans exterior work, landscaping improvements, and renovation of the facade. In addition, the redevelopment will convert:
- 189 rooms into 157 residential units
- An additional smaller building on the north side with 51 residential units
- Features like a fitness lounge and co-working space
The construction work will begin in late 2021, and residents will move during the second quarter of 2022.
Following the sample of other projects that attract remote workers, Repvblik recovered vacant buildings to cover the pandemic stop of tourism.