The former Radisson Hotel in Downtown Fresno closed in December for fire code violations. Photo by Frank Lopez

The new owner of the Radisson Hotel in Downtown Fresno said it is still too early to talk about possible uses for the 195-room property.

Sevak Khatchadourian announced in March that his investment group had purchased the facility that had been closed since December 2022 due to fire code violations. He said Tuesday that work on repairs was proceeding but didn’t have a cost estimate.

Mayor Jerry Dyer commented during a recent city council meeting that the price of hotels has risen as the city has purchased numerous properties for use as temporary housing. The Radisson last changed hands in 2010 for an estimated $9.4 million, reported The Fresno Bee, which also reported that the Radisson’s assessed value last year was more than $8.9 million.

Asked if he felt his group got a good deal on the property, Khatchadourian said that would bear out once a final use is determined. Applications were filed with the City last year to convert it to luxury housing, but that was before the recent sale.

“A good deal will determine what the use will be,” Khatchadourian said.

Khatchadourian has declined to disclose the terms of the acquisition, citing a confidentiality agreement.

The new investment group purchased the Radisson for about $9.27 million, as calculated by The Business Journal using documents recorded with Fresno County.