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Young Renters Seek Hip Areas at Low Cost

The micro-unit concept of approximately 103 total units was chosen due to the growing demand of rentals aimed at young professionals who want to live in popular neighborhoods without paying steep rents.

By Lisa Brown | Updated on December 22, 2017

Ambassador Hotel The renovation and redesigned plans will have approximately 23 units on each floor.

DALLAS—The Ambassador hotel, originally the Majestic Hotel, was once considered one of Dallas’ most luxurious residential properties. Jim and Amanda Lake, owners and developers of the 112-year-old Ambassador Hotel project, plan for the rehabilitation and adaptive reuse of the existing six-story historic hotel to be transformed into micro multifamily units with amenities located on the ground floor and sixth floor terraces.

Dallas-based Merriman Anderson/Architects has been selected as the architect for the project and will design the project to qualify for Texas and federal historic tax credits. Merriman Anderson will provide architectural, interior design, state and national historic tax services, and TIF application services.

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