The push to inject hundreds of affordable living options into Summerhill’s tallest building on a block just south of downtown Atlanta has taken a crucial step forward.

Atlanta Housing on Monday officially closed on the sale of the former Ramada Plaza Atlanta Downtown Hotel, a 16-story structure that’s stood vacant for several years, according to Michael Wess, a partner with Bull Realty, the commercial real estate firm representing the sellers.

The sales price wasn’t disclosed. [UPDATE: 1:12 p.m., Aug. 28: Bull Realty relays the property sold for $17,449,000.]

But last month, AH’s board of commissioners voted to seek permission from the U.S. Department of Housing and Urban Development to buy the 450 Hank Aaron Drive property for up to $17.5 million, with the intention of converting it to 231 affordable apartments for seniors—potentially before the 2026 FIFA World Cup comes to town. Atlanta Civic Circle reported AH intends to issue a request for proposals from developers next month and possibly select the team to convert the hotel by January.

The shuttered Ramada hotel hit the open market at $20 million in March 2023, offering a sizable, gutted building near downtown and room for new development elsewhere on its 3.25 acres.

Rendering included in the 450 Capitol Ave. marketing package showing how the former hotel property could look and function when renovated. Bull Realty

Rendering showing potential frontages along Capitol Avenue/Hank Aaron Drive. Bull Realty

Positioned along Summerhill’s northern rim, overlooking Interstate 20, the former Ramada had been scooped up during the COVID-19 pandemic by Pellerin Real Estate, an intown developer best known for turning defunct Grant Park warehouses into The Beacon.

Pellerin’s vision for the property, as unveiled in late 2021, called for a blend of about 250 micro apartments (some as small as 330 square feet), coworking space, restaurants, an outdoor promenade, a rooftop pool with a clubhouse, and a 13,000-square-foot food hall. 

As of last year, the hotel structure had been permitted and approved for 260 apartments with 33,000 square feet of retail. The property’s zoned MRC-3C, allowing for a mix of residential and commercial uses, and AH officials have previously discussed including retail on the ground floor.

According to Bull Realty, plans have also been drawn up for building another 287 units on site in the future, with an additional 23,000 square feet of retail. That would rise on a 2-acre development site that houses the hotel’s former banquet hall and a one-level parking deck today.

The former Ramada's parking structure and elevated amenities, as seen in early 2023. Courtesy of Bull Realty

Courtesy of Bull Realty

Pellerin bought the 450 Hank Aaron Drive (also referred to as 450 Capitol Ave.) hotel property at auction in 2020 for just shy of $14 million, then briefly tapped New York’s Life House to operate it as a private hotel. The food hall once planned for the property would have doubled the size of Southern Feed Store, the six-stall food hall Pellerin built from the former Graveyard Tavern in East Atlanta Village.

The former 400-room hotel property is sandwiched between a variety of new development but still overlooks vast parking lots to the south. Two neighboring parcels have sprung to life as Alliance Residential’s 300-unit Broadstone Summerhill luxury apartments, and to the west, Georgia State University’s new convocation center, basketball arena, and concert hall.

The hotel property today counts 400 parking spaces, with 35 more in redevelopment plans.

In the gallery above, find a thorough look at the old Ramada—formerly a popular lodging destination for Braves fans, during the nearby stadium’s run as Turner Field—both inside and out, alongside renderings that illustrate how the property could be revived.   

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