GoodHomes Communities is actively seeking underperforming hotels in the Greensboro, Winston-Salem, and High Point area to convert into apartments. The company has announced plans for their latest project, OYO GoodHomes on Maple Avenue. This apartment community will feature 135 studio units and is being funded by a $9.41 million construction loan from Forman Capital.
According to the Triad Business Journal, GoodHomes Communities also has two other developments underway in Fayetteville. One of these projects is GoodHomes Bordeaux, which will consist of 255 apartment units converted from a former Ramada Plaza & Baymont Inn & Suites with an attached convention center spanning over 60,000 square feet.
The second development is known as GoodHomes Cedar Creek and will offer 201 one-bedroom and oversized studio units converted from a former Clarion hotel. Both properties were acquired in June of this year and are expected to be completed by the second quarter of 2024.
