#Westin Hotel Planned for Greenwood Village First 5-Star Hotel in South #Denver Area

City of Greenwood Village
6060 South Quebec Street
Greenwood Village, Colorado 80111

For Immediate Release
April 16, 2013

Contact: Melissa Gallegos, Public Information Officer
303-486-5749; Cell: 720-849-9910

Westin Hotel Planned for Greenwood Village First 5-Star Hotel in South Denver Area

The City of Greenwood Village has been selected by Greenwood Village Hotel, LLC, a developer group consisting of Waveland Ventures, Jackson Street holdings, and Arrival Partners, as the exclusive location for a Westin Hotel franchise expected to begin construction in the fourth quarter of 2013 at the Arapahoe at Village Center Station.

“We are ecstatic that our city has been selected for construction of the first 5-Star hotel for the south Denver area,” said Mayor Ron Rakowsky. “This luxury hotel chain will be the catalyst for continued development of our Village Center and will provide high quality services to the residents, businesses and large corporate presence we have in our Village and the region.”

The Agreement between the Village and the Developer
On Monday, April 15, the Greenwood Village City Council approved an agreement to sell 3.54 acres of property the Village owns at the Arapahoe at Village Center Station (on the east side of I-25) to the developer for construction of the hotel.

As part of the real estate purchase agreement, the sale of property will be contingent upon the developer receiving the requisite approvals by Village officials and other agencies for the project and a building permit acquired prior to the closing of the deal.

“It was an agreement that will protect both the Village and the developer,” said Jim Sanderson, City Manager. “Essentially, the developer will not have to buy the property unless they get all the approvals to build a hotel on the site, and the Village does not have to sell the land until the plans for the hotel are finalized and approved.”

Village staff is working with the developer on a development schedule to accommodate the developer’s goal to begin construction in the fall. In addition to an extensive review process by Village staff, neighborhood input meetings and an application review by the Village Planning and Zoning Commission will be scheduled over the next few months, with a public hearing on the project by the City Council tentatively scheduled for the fall of 2013. A formal application for the project is expected to be submitted by the developer in the second quarter of 2013.

The Hotel
Preliminary plans for the hotel include 200 spacious guestrooms and suites; a signature restaurant and bar welcoming both hotel guests and the Greenwood Village neighborhood; conference and banquet space comprising a grand ballroom, meeting rooms, and reception space; and a fitness center that includes a swimming pool. The hotel is positioned to offer expansive views north towards the Denver Tech Center and south towards Pikes Peak. This transit-oriented development is located steps from the pedestrian bridge and parking structure serving the RTD Arapahoe at Village Center light-rail station and the Village Center retail and office buildings. The hotel will be highly visible and convenient to I-25.

“We have chosen Greenwood Village as the premier location for a Westin Hotel because of the density of Fortune 500 companies that are headquartered here, and the ability to leverage the infrastructure investments that are already in place,” said Rick Hayes, CEO of Waveland Ventures. “We commend Greenwood Village’s leadership for embracing this investment. The development of this project is a demonstration of the market demand that exists in Greenwood Village for the type of hospitality experience a Westin Hotel provides.”


Proposed Concept Design of Westin Hotel at I-25 and Arapahoe at Village Center Station

About Tom & Dee Cryer

Your Trusted Advisors in the Homeownership Business! TheCryerTeam@Kentwood.com
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