HOAs and the Growth of the Denver Hotel Scene
The Denver hotel scene is transforming through the growth and development of that city’s urban core.
Some recent hotel construction in Denver has included HOAs within their walls. What benefits could be seen if more of the incoming hotels did the same?
It is not news to anyone living in Denver that their city is experiencing a great amount of growth and development. Denver’s urban core is infilling to become more dense and complete and in the process is going vertical. Given Denver’s increasing popularity and investments in transportation, many of these rising buildings are hotels – in part or in full. Brand new hotels are being freshly built in downtown, such as Upper Downtown’s upcoming Hyatt Place and Aloft Denver, and the numerous hotels in the area of Denver Union Station, another of which was announced this week. Some hotels are being created through the repurposing of buildings, such as the dual hotel at 15th Street and Welton Street. Some of these are mixed use developments, as in they have office or other commercial uses included. Some – but perhaps not enough – include permanent residences in their buildings.
A great example of a hotel that was built with permanent residential space included is the Four Seasons; the residential component of which is called the Four Seasons Private Residences Denver. In fact, the Four Seasons chain operates numerous like buildings throughout the world. Other hotel companies are buildings similarly-styled buildings around the country as well. Of course, such residences, generally condominiums, are operated as HOAs. Besides the obvious benefit to the HOA management industry, we must consider the benefits to the quality of the built environment. Any kind of mixed-use building is helpful to the city; particularly in its downtown. While Denver is enjoying a boom in residential construction around downtown, residences in the Central Business District are hard to come by, on a relative scale. If these hotels that are being constructed (which is fine as Denver continues to grow), having residential components would enhance the vibrancy of downtown. More people living downtown equates to more people on the streets and a less desolate feeling late in the evening. This could increase the sense of safety downtown, among other things. Having more residences downtown could also bridge the gap between two highly popular neighborhoods on the periphery of the urban center: Lower Highlands (LoHi) and Capitol Hill. This could enhance the sense of the size of the city – creating an atmosphere in which Denver truly feels like the ‘big city’ that it is.
CAP Management (and our competition) looks forward to the creation of new residential buildings in the downtown neighborhood. While any incoming HOAs would be advantageous, hotel-based HOAs might be more appreciated as they would allow management companies to diversify their expertise and they would give downtown Denver a more varied and intriguing feel. To learn more about specific hotel projects, please browse through the blog posts offered by our friends at Denver Infill Blog: http://denverinfill.com/blog/.