A California Company has bought a Branson Motel with plans to develop an affordable housing complex.

Drever Atelier Partners last week closed on the purchase of the Angel Inn by the Strip located on Francis Street according to a press release. The company announced they will transform the property to an affordable multi-family community named "The Penleigh - Branson Row. 

The release says that the complex will consist of 324 apartments with monthly rents around $600 and include such amenities as a fitness center with fitness and social programs, swimming pool, playground, resident lounges, and more. 

The Penleigh - Branson Row is scheduled to be complete and ready for occupancy in early 2022. 

A feature on the new development can be seen on the Ozarks First Website with the complete release from Drever Atelier Partners posted below:

With workforce apartments desperately needed, Drever Atelier Partners announced today the closing of its purchase of Angel Inn – by the Strip - a broken hotel located at 76 Country Blvd in Branson, Missouri. With Drever Atelier Partners’ transformational signature enhancements, work will begin immediately to create 324 attractive and energy-efficient apartments. The new multi-family community will be named The Penleigh - Branson Row.

“Drever Atelier Partners, with five decades of experience, is known for their expertise in transforming once ‘broken’ apartment complexes,” said Jonas Arjes, Executive Vice President/Chief Economic Development Officer of Taney County Partnership. “Their vision for The Penleigh is to deliver a residential community that is affordable, safe and a welcoming place for their residents to call home while also offering convenient programs and incentives helpful for single working parents.” 
“We realize the Drever Atelier Partners team is being actively pursued by other cities with closed hotels and appreciate that they have chosen to do this redevelopment in Branson. The property will be a positive, impactful addition for our community and the businesses that serve our residents and millions of visitors.”
Originally built in 1994, the former 342-room hotel will undergo a full renovation to include three resident lounges, fitness center, children’s playground, swimming pool with two hot tubs, resort-style cabanas and a pavilion with commercial grills for residents. The apartment building will be pet-friendly with an on-site pet park and affordable pet concierge. 

“We are looking forward to transforming this closed hotel into a thriving residential community and would like to do more in Branson,” said Galen Drever, Managing Director with Drever Atelier Partners. 

To enrich residents’ lives and provide support to single working parents, The Penleigh offers monthly rent rates around $600 and incentives for early payment, free after school tutoring, and other affordable social and fitness programs.

“I’ve had higher priced offers to sell the Angel Inn - by the Strip property in the past to operators that I knew would create weekly motels that would damage Branson’s image and be unsafe for families with children,” said Jerry Emery, former owner of the property. “We made the choice to sell the property to Galen and Maxwell Drever because we believed they would successfully convert the motel into an apartment community that would create a safe and thriving addition to the city.”

The expanding Branson economy and constrained housing supply led to Drever Atelier Partners choosing the market for two adaptive reuse projects. Current rental vacancy rates in the area are in the range of 1% for both studio and one-bedroom units, which will be the majority of the supply at The Penleigh - Branson Row. 

With Drever Atelier Partners’ fast track enhancements, the community is scheduled to be complete and open for residents in early 2022.  

For more information please contact Rich Kleck, Acquisitions Manager, at rich@dreverpartners.com / 480.208.6245