Older building with 18 offices that Explorer Capital is converting into a 12-unit apartment hotel with apartments ranging from smaller studios to bigger 4-bedroom spaces.
The style is modern, semi industrial and aimed at the foreign traveler visiting Cali for either work, vacation or staycation.
Building from 1960s located in Centenario, Cali – just one block from the Centenario shopping center, the river boulevard and Platillos Voladores – the best rated restaurant in town. It’s walking distance to both Granada and El Peñon entertainment districts ensuring that guests will never be bored.
This project is currently undergoing a complete renovation, which is estimated to take 14 months after the COVID pandemic forced us to shut down the site for 2 months. We expect to be able to open for guests late in 4Q 2020.
All plumbing, electrical, fixed furniture, windows, roof, and HVAC is being replaced. A structural reinforcement was needed to accommodate for 1500 additional sqft on the 3rd floor. Finally, a hot water recirculating system, a water reserve tank, CCTV and WiFi system was added.
This project was approved with a hotel license giving the investors a favorable 9% corporate tax rate for 10 years.
Total investment $1.200.000 USD
The idea is to create a modern apartment hotel aimed at the short-term rental market (like Airbnb). The guests are mostly foreigners coming to Cali and who value the location and the North American standards of this building.
Nothing was spared in making this building the best option on the market for furnished apartments in the neighborhood.
