Hotel Telluride going condo
A Washington, D.C.-based real estate investment firm is converting The Hotel Telluride into condominiums.
Northridge Capital LLC is adding kitchenettes and connecting lock-off doors to create two-, three- and four-bedroom suites. Premier Resorts will manage the condominium-hotel, which has a restaurant and bar as well as a day spa.
The hotel, which opened in 2001, is the only lodging in Telluride rated and listed by Travel & Leisure magazine in 2005.
Alliance barracks contract grows
Alliance General Contractors LLC of Colorado Springs won a $21.5 million modification to a firm-fixed-price contract for
the construction of four training barracks. Work will be performed at Fort Carson and is expected to be completed by Dec. 30. Contract funds will not expire at the end of the current fiscal year.
New medical facility
M.A. Mortenson Co. won the contract to build a $12 million, three-story medical office building on the Summit County Medical campus near Frisco. The 90,000-square-foot building is expected to be completed next fall. It will house county medical services and private health-care providers. Minneapolis-based Mortenson has worked on other Colorado projects,
including the Denver Art Museum, the 1616 Glenarm renovation and the Stapleton Airport redevelopment.
– Margaret Jackson, Denver Post staff writer
Mortgage rates decline for third straight week
National rates on 30-year mortgages declined for a third consecutive week as bond investors worried that Hurricane Katrina and soaring energy prices will slow the economy. Mortgage giant Freddie Mac reported Thursday that rates on 30-year, fixed-rate mortgages fell to an average of 5.71 percent last week, down from 5.77 percent for the week ended Aug. 25. Rates are now at their lowest point since mid-July and significantly below the four-month high of 5.89 percent, which hit during the week of Aug. 11. Below are average mortgage rates in Denver, Adams and Arapahoe counties as of Thursday and the previous 52 weeks.
