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Large North Kentucky Avenue building gets new owners

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This former senior living property on North Kentucky Avenue has new owners who plan to offer both hotel rooms and high-end apartments. (Lisa Dunlap Photo)

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Hotel and corporate apartments planned

The former senior living facility on North Kentucky Avenue has new owners, with one of them saying they plan to develop the large building into a hotel with high-end corporate apartments.

Ram Kunwar said he is part of B&J Garden Apartments LLC, which also involves some investors from California.

The group bought the former Avamere senior community at 2801 N. Kentucky Ave. about a month ago, he said.

The property had been owned since late 2019 by United Partners LLC, which includes hotelier Narendra Mistry of Roswell. Mistry bought the property after the Avamere Family of Companies decided to close and sell it in September 2019. Prior to Avamere’s ownership, the site had operated as Brookdale Senior Living. Avamere still operates a skilled and assisted nursing center a block to the east on North Pennsylvania Avenue.

In January 2020, the city of Roswell Planning and Zoning Commission approved Mistry’s request to have the property rezoned to community commercial so that it could be used for a hotel. It previously had been zoned Residential-3, which city staff said allowed the property to be used for apartments, shelters, nursing or rehabilitation centers, and other multifamily residences.

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Mistry confirmed that he had sold the property to Kunwar and his partners, but he chose not to provide additional information.

The building, which is on 6.68 acres, is being renovated now, Kunwar said. He expects it to have 139 units when completed, which should be sometime this year.

“I believe that 39 would be hotel types and 100 would be apartment types,” Kunwar said.

He said the idea for the apartments is to create high-end office and living units that could be rented for short periods or longer lease terms.

He said rental rates have not yet been determined and that the units would be intended for corporate and business executives, although he chose not to say which industries would be among the targeted markets.

He also said he is looking for a restaurant operator to run the dining and kitchen area to serve the hotel guests and the apartment residents.

“I see a good opportunity,” he said. “I try to make four-star apartments.”

Kunwar said he has been in Roswell for some time. He said he once was part of the Tulip Development investor group that owned a film studio in north Roswell near U.S. Highway 70 and had considered building a hotel on city property near the Roswell Air Center.

He has left the film studio partnership and said the pandemic caused the Air Center hotel plans to be on hold. He also said he might be interested in pursuing another Air Center hotel deal once the North Kentucky Avenue property is operating.

Kevin Maevers, recently hired city of Roswell Community Development manager, said the property is definitely zoned for a hotel but would expect further talks with Kunwar or his partners if apartments also are expected to be part of the project.

Senior Writer Lisa Dunlap can be reached at 575-622-7710, ext. 351, or at reporter02@rdrnews.com.

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Lisa Dunlap is a general assignment reporter for the Roswell Daily Record.