Colorado Real Estate Journal - May 6, 2015
Portman Holdings Vice Chairman John C. “Jack” Portman III was mostly happy and grateful – but also had some regret – at a groundbreaking ceremony for the firm’s $92 million office/ hotel development near Denver Union Station. “I’m very remorseful that Portman was not in Denver a long time ago,” Portman said prior to putting a shovel in the ground at 1801 Wewatta St. General contractor Hensel Phelps, which has teamed with Portman Holdings on projects outside Colorado, brought Portman to Denver to look at the development site in January 2014. “It took about 45 minutes for us to decide, yes, this is what we wanted to do,” said Portman, who could see the momentum around Denver Union Station. Returning for the first time for the groundbreaking last month, he said, “I had no idea it would happen so quickly and with such energy. “Denver has a certain vibe to it. It’s got an energy level that’s unlike most places. It’s like a magnet now for the educated, youthful workers of America because of the lifestyle. People want to be here.” Portman’s 12-story building will include 100,000 square feet of Class A office space and a 180-room Indigo Hotel. According to Denver Mayor Michael B. Hancock, who spoke at the groundbreaking, it is part of more than $2 billion in investment in the Union Station area resulting from the station’s $500 million redevelopment. “The Union Station area has far exceeded all our expectations,” Hancock said. “Were absolutely thrilled to have the Hotel Indigo here – one of the first new hotels that we’ve had in LoDo in many years,” added Tami Door, CEO of the Downtown Denver Partnership. “Demand is high and people want to come to Denver,” she said. The building is designed by John Portman & Associates, a world-renowned architectural firm where Jack Portman serves as principal and vice chairman. Care was taken to create a project that would positively impact tenants and guests. “We want to create an experience that touches all the senses,” said Portman, noting the design is intended to be motivating and stimulating and at the same time homelike and comfortable. The entrance to 1801 Wewatta will open onto a large outdoor space. “The corner opens up almost in a way to genuflect toward the station and this open space,” Portman said. “We want to celebrate the outdoor space in the same way that the city does,” added Charles Pinkham III, Portman Holdings vice president of development. Construction of the building will be completed within 20 months.