Looks like new-build projects aren't dormant after all. The latest is a $92-million mixed-use development called Union Tower West, across the street from Denver Union Station, which will break ground in a week's time and include a 180-room Hotel Indigo, IHG's lifestyle brand.
"We are excited to expand the Hotel Indigo brand into this incredible downtown Denver neighborhood," said Jason Moskal, VP of lifestyle brands for the Americas at IHG. "The local area around Union Station is home to many historical storefronts, warehouses and industrial buildings that help define the neighborhood, creating the perfect location for our newest hotel."
As the Denver Business Journal reports, Union Tower West will be developed by Atlanta-based Portman Holdings and Greeley-based Hensel Phelps Construction Co. Regions Bank reportedly provided a construction loan and Canyon Capital Realty Advisors provided equity financing for the development.
Union Tower West will include a total of 210,000 square feet, including 100,000 square feet of Class A office space and 10,000 square feet of retail.
"We feel that the design of this building, and its vertically stacked multiple uses, complement and enhance the appeal of LoDo, where we're thrilled to be developing property," said Ambrish Baisiwala, CEO of Portman Holdings. "We know that the Hotel Indigo brand approach with bring a strong local feel and the character of the Union Station neighborhood to life within this distinct property."
The Hotel Indigo is expected to open in winter 2016.