Former Pavilion Grand Hotel in Saratoga Springs transitions to Perennial boutique apartments

Recent investment in the property will fund conversion of the Pavilion Grand Hotel to the premier residential building in Saratoga Springs

 

SARATOGA SPRINGS, N.Y. – Aker, a Hudson Valley-based owner-operator, today announced the transformation of the Pavilion Grand Hotel in downtown Saratoga Springs, N.Y., to a boutique apartment community called Perennial. The property at 30 Lake Avenue, previously a hotel before transitioning to extended stay residences, was purchased in December 2021 by Aker from Prime Companies.

Located in the heart of downtown Saratoga Springs, Perennial is just a short stroll away from an eclectic mix of local shops and restaurants and only minutes from Saratoga’s choice attractions: Saratoga Race Course and Saratoga Performing Arts Center.

Comprised of 48 residences, Perennial offers pet-friendly, comfortable living spaces including spacious studios, one- and two-bedroom residences and expansive penthouses. Perennial’s unique, duplex penthouse apartments are designed for gathering, featuring open layouts with large private terraces, generous kitchens and separate wet bars.

The “Perennial” name is inspired by the year-round resident, an active participant in the community and a frequent consumer of local businesses and culture.

“Delivering this transition has been an exciting undertaking for us,” said Aker Senior Vice President Tina Ladd. “The unique history of Saratoga Springs and the 19th century Pavilion Hotel – this property’s namesake – were inspiring elements to work with. It is our goal with all of our projects to engender a sense of community and encourage resident engagement.”

Aker’s vision for Perennial is to inspire its residents to “write their Saratoga Story, embrace the City’s downtown energy, stay in the know on the new and the interesting and meet friends, collaborators and creators.”

Perennial’s apartment interiors and common areas will receive a substantial upgrade as part of the rebranding. The existing fitness center will be expanded and refurbished with new equipment; the entry lobby will be remodeled to accommodate residential living and include a café amenity; hallways will be redesigned; and the roof-top building amenity will be redesigned to include both interior and outdoor entertaining areas.

Common area improvements are currently in progress and newly renovated apartments are now available for lease.

Unveiled in 2014 as one of the area’s exclusive hotels, Covid-19 led to the property’s second incarnation as extended-stay apartments. However, lifestyle trends in a post-pandemic climate have played a role in the hotel’s third reinvention as the demand for more residential living space has grown.

To learn more about Perennial and book a tour, visit perennialny.com.