Luxury hotel, restaurant and retail planned for Denver neighborhood.
DENVER – Denver based companies BMC Investments and Sage Hospitality have announced plans to develop and operate a $60 million, seven-story, luxury independent hotel with restaurant and retail space in Cherry Creek. BMC and Sage entered into a joint venture with Sullivan Group and Elevation Group for the development of 245 Columbine, otherwise known as the Old Post Office Building. BMC and Sage will serve as the joint-venture managing members and co-developers.
“This is the premier site available in Cherry Creek for a high-end hotel, and we feel that there is tremendous demand for a project of this caliber,” said Matt Joblon, managing partner of BMC, a nationally recognized investment and development company specializing in commercial real estate and premium assets. “As with our Steele Creek project on First and Steele, we will work closely with the City Council and the neighborhood to ensure we deliver an exceptional project that highlights Cherry Creek.”
Sage Hospitality, one of the nation’s leading investment and management companies for hotels and restaurants, will co-develop and independently brand the 150-room luxury hotel featuring a roof-top pool. Sage Restaurant Group, who developed Second Home Kitchen + Bar also in Cherry Creek, plans to implement one of its newest brands in part of the available restaurant and retail space.
BMC and Sage have engaged design architecture firms klipp/a division of gkkworks and JG Johnson Architects of Denver to design the building. Renowned New York-based interior designer Robert McKinley will fashion the interior of the hotel.
“We plan to create something totally unique and indigenous that will fit in with the Cherry Creek vibe,” said Walter Isenberg, President and CEO of Sage. “Sage has developed exciting, independent brands in Colorado such as The Crawford Hotel at Denver’s Union Station, opening in July in LoDo. We plan to bring that excitement and sense of place to Cherry Creek with this project.”
Both companies will work closely with the Cherry Creek North Neighborhood Association to ensure that the project meets the goals and objectives of the neighborhood and is consistent with its character and context. The co-development team of BMC and Sage was formed to leverage their proven track record in financing, developing and operating, first-class hospitality projects.
Photo caption: Cherry Creek, Denver.
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