Sage Hospitality Chief Walter Isenberg is leading a group that envisions a grand redevelopment of Union Station downtown, which would include a 100-room hotel, retailers, and restaurants. But the $40 million idea has hit a snag.

As the Denver Post reports, the Regional Transportation District owns the building and may not seek proposals for the redevelopment. Instead, RTD may simply award it to the Union Station Neighborhood Company, which received the right to develop commercial and residential property around the train station. However, if Isenberg’s team is successful, the project would be affiliated with the Oxford Hotel, owned by Sage, a developer with considerable experience in adopting historic spaces for hotel uses.