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January 7-January 20, 2015 — COLORADO REAL ESTATE JOURNAL — Page 13
“And, of course, the oil and
gas industry has been very
strong here, leading to a need
for housing.”
McAllister said Journey
Homes “has a very good rela-
tionship with FirstBank.”
He said they interviewed a
number of lenders, but FirstBank
provided the best terms and rates.
“And their process was for
the whole project,” McAllis-
ter said, while other lenders
wanted to finance the phases
separately.
The development is impor-
tant to the community, he said,
because rental housing is in
such a short supply.
Minner also said it has a
strong location.
Over the years, FirstBank has
done a number of deals with
Journey Homes and its con-
struction arm.
“J&J/Journey Homes is a
very well-known builder in
this area,” Minner said.
“We have done a number of
deals with them over the past
15 years or so,” Minner said.
“Of course, we have never
done a deal of this size with
them before.”s
downtown’s increasing strength
and vitality,” Zimlich said.
“This hotel will fill a long-
standing need for a downtown
lodging and meeting facility,”
concurred Matt Robenalt, exec-
utive director of the Fort Col-
lins Downtown Development
Authority. “This is a commu-
nity vision that is coming to
fruition and which will add
to the vibrancy and economic
vitality of our city.”
The developers and investors
are obtaining cost estimates
and plan to start construction
in 2015, with completion in
2017. The amount of meeting
space that will be included in
the project hasn’t been deter-
mined.
Sage Hospitality, a Denver-
based hotel development and
management company, will
take an active role in the hotel’s
design and will manage day-
to-day operations when the
facility is complete. In addi-
tion, Sage Restaurant Group
will bring one of its newest
brands to the restaurant space.
“We’re looking forward to
providing a great space for
visitors and locals alike,” said
Chad McWhinney, McWhin-
ney CEO and co-founder. “Fort
Collins’ vibrant culture will be
apparent in everything from
architecture to food offerings.”
McWhinney and Sage were
part of the Denver Union Sta-
tion development team and also
are redeveloping the historic
Windsor Dairy Block, which
will include a Sage hotel, near
Union Station.
“Partnering with McWhinney
on another signature project is a
special experience for Sage Hos-
pitality,” said Walter Isenberg,
Sage Hospitality president and
CEO. “We have established an
exceptional professional rela-
tionship that has brought some
of Colorado’s signature devel-
opments to life.”
“McWhinney and Sage have
emerged as a strong team with
a track record of developing
successful projects together,”
said Zimlich. “Bohemian is an
investor in the Sage-McWhin-
ney Union Station hotel in Den-
ver, and we’re very pleased to
be part of the group of inves-
tors supporting their newest
project here in Fort Collins,”
he said. “This hotel will con-
tinue to increase the vitality of
downtown Fort Collins, and
we’re pleased to be working
with other investors to move
the project forward.”
The hotel is being designed
by Denver-based 4240 Archi-
tecture, whose hospitality proj-
ects have included the St. Julien
Hotel & Spa in Boulder and
The Arrabelle at Vail Square.s
‘We’re looking
forward to
providing a great
space for visitors
and locals alike.’
– Chad McWhinney,
McWhinney
‘This hotel will
continue to increase
the vitality of
downtown Fort
Collins.’
– Joe Zimlich, Bohemian Cos.