Denver is going upscale. A 50-story building is set to grace (and change) our skyline. It’s a swank Four Seasons hotel and condominium project at 14th and Arapahoe, across from the Teatro Hotel. Completion is set for 2007.
The prices will be as sky high as the building : Up to $700 a square foot for the condos. But check out these perks:
They’ll have access to a private concierge 24 hours a day. They could have their dog walked, their plants watered, or have a massage in their condo from a therapist in the fourth-floor spa, Selby said. A concierge could get them tickets to plays or sporting events or make travel arrangements.
“They could have daily room service or their beds turned down,” Selby said.
The 2004 average nightly hotel room rate in Denver was $113. The rate at the Four Seasons is expected to be $300 a night. If that sounds steep, consider that a standard room at the Four Seasons on 57th and Park in New York is now fetching $700 plus a night.
Don’t expect the project to include any affordable housing. The owners would rather pay the city a fee than set aside 10 percent of the condo units under the inclusional housing ordinance. This will be a big fee. The owners of the Museum Residences behind the Denver Art Museum forked over $500,000 rather than include affordable units.
The project is locally owned. Four Seasons (Toronto) will manage the property but Teatro Group co-owners Jeff Selby and Michael J. Brenneman are the principal owners, followed by Marsico Capital Management (Tom Marsico) and Janus.
For more about Denver’s tallest towers, check out the non-profit DenverSkyscrapers.com.