North Charleston hotel owner lines up financing for renovation
The company that bought the Radisson Hotel Charleston Airport last year plans to reonovate the property.
RCB Hospitality said it secured a taxable economic development revenue bond of $8.4 million from the S.C. Jobs-Economic Development Authority, or JEDA, to help pay for the refurbishment.
The 159-room North Charleston property hotel is at Rivers and Aviation avenues.
“We were able to maximize our investment in this project because of the favorable rates and terms provided by JEDA bond financing,” said Avi Ryzman of Croft Properties, who led the project for Los Angeles-based RCB Hospitality.
The California company bought the eight-story Radisson last year from Shree Ganpati Hotels LLC for $5.3 million, or roughly $33,333 a key.
The lodging was built in 1973, according to Charleston County property records.