APRIL 17-30, 2019 Working This year could be even bigger for WeWork, Denver’s largest office user INSIDE Experiential Village Hotel in Breckenridge sells to a buyer planning a ‘backcountry’ experience at base of Peak 9 Heading east RidgeGate moves across Interstate 25 with plans for homes, commercial development 4 29 6 FEATURED Digging in Evergreen Devco readies to start work on a retail center in the growing Thornton market 14 CONTENTS Office 6 Multifamily 10 Retail 14 Industrial 16 Hotel 18 Boulder County 24 Larimer & Weld Counties 26 Colorado Springs 28 Colorado 29 Finance 32 Who's News 44 CDE News 2AA by Jill Jamieson-Nichols Stonebridge Cos. is going old school with its newest downtown Denver hotel, a building fundamental to the city’s history. “When you agree to embark on an adaptive reuse of this magnitude, it is so important to understand the history and legacy of the site because it’s much more than bricks and mortar. This is truly a building that transformed lives,” Stone- bridge Chief Operating Officer Chris Manley said of the for- mer Emily Griffith Opportu- nity School. Stonebridge Cos. just broke ground on what will be a full- block mixed-use redevelop- ment to transform the historic school into an upscale hotel – and more. The four-story building sits across the street from the Colorado Convention Center, betweenWelton and Glenarm, and 12th and 13th streets. “We’re going to do a very exciting mixed-use project. It will be a 252-roomhotel on the Welton Street side, and then we’re going to activate the alley and do mixed-use retail on the Glenarm side that will have almost 50,000 square feet of retail amenities for down- town visitors and guests to the convention center,” Man- ley said. “I thinkguestswhoaregoing to come to our convention cen- ter will really understand and appreciate a building like this and the story it tells. These are going to be extremely well- appointed guest rooms, and you combine that with distin- guished hospitality and com- mitment to guest service and we will have a lot of repeat guests. We couldn’t be more excited about that.” Denver Public Schools teach- er Emily Griffith opened the Opportunity School in 1916 to provide practical skills “ForAll Those Who Wish to Learn.” The school operated 13 hours a day so adults could attend classes around their work schedules, according to Den- ver Public Library. The school, now Emily Griffith Technical College, was enlarged over time and eventually relocated to 1860 Lincoln St. Stonebridge Cos. bought the Welton Street property for $26.1 million in 2015. “Throughout the design of the hotel and the project, you will see various threads and components of the school reused,” said Manley. The wide hallways with their tall ceilings will be preserved, chalkboard-like elements will be incorporated into the design, and the fitness center will be “very reminiscent of an old-school gymnasium.” Stonebridge Cos. has devel- oped numerous Denver hotels from the ground up, but also has adapted historic buildings – notably the former Colorado National Bank building at 918 17th St., which opened in 2014 as the Renaissance Denver Downtown City Center. The lobby of the hotel, constructed of Colorado Yule marble in 1915, showcases huge murals of Native American life by illustrator Allen Tupper True that have been part of the building since 1925. That building and Emily Griffith “are extremely similar in terms of the onus and the obligation that we have to pre- Downtown hotel to be tribute to history by Jennifer Hayes A Carmel, Indiana-based buyer made its first Denver acquisition with the pur- chase of The Grammercy Apartment Homes. BH Acquisitions LLC paid $25.8 million for the 156-unit community at 9600 E. Girard Ave. in Denver. “The Grammercy is a well- maintained property located within a core Denver neigh- borhood with an established and successful renovation program to build from,” said David Potarf of CBRE. “Its infill location provides convenient access to shop- ping, dining, entertainment and major employers in the DTC area.” Potarf, along with CBRE’s Dan Woodward, Matthew Barnett and Jake Young, represented the seller of the Infill apartments sell to Indiana-based buyer Please see Emily, Page 20 The Grammercy sold to a buyer making its first Denver acquisition with its $25.8 million buy. Please see Infill, Page 23 Hotels change ownership The TownePlace Suites Denver Downtown was among several TownePlace Suites by Marriott hotels in the Denver area that Blackstone Real Estate affiliates sold. See story on Page 18. Rocky Mountain Photography