Buyers looking to snag one of the 24 luxury residences at the new Ritz-Carlton Denver hotel will have to shell out from $800,000 to more than $4 million per unit.
Encompassing the top five stories of the former Embassy Suites Hotel at 1881 Curtis St., the Ritz-Carlton residences will range in size from 1,143 square feet to 5,561 square feet.
Nonbinding reservations will be accepted starting Tuesday on a priority basis, with interested buyers required to put down a $25,000 refundable deposit.
“I think our core market is the empty- nester, the Cherry Hills-type family that has lived in the big house for a long time but doesn’t want that anymore,” said Charlie Biederman, who along with partners Steve Roitman and Jim Cobb is spending more than $75 million to revamp the property into a Ritz-Carlton.
“Here you’ll still have the independence, but you’ll also have all the great hotel amenities.”
Residence ownership incudes hotel perks such as a concierge, daily maid service, room service and valet parking.
Homeowner-association fees will fall between $10 and $14 per square foot, said Biederman.
The 202-room Ritz-Carlton Denver hotel is scheduled to open in May 2007. The residences will be completed that July.
Also on Wednesday, the Park Hyatt Beaver Creek announced it would undergo a $20 million renovation, including the conversion of 54 hotel rooms into 15 fractional-ownership units.
The 1/20-share condominiums range in price from $80,000 to $220,000, according to Slifer Smith & Frampton Real Estate, the listing broker.
“We’re already more than half sold out,” said listing agent Steve Cardinale. “This is mountain beachfront. You’re right on the ski slopes, and you have all the amenities of the high-end lifestyle, which is what our owners are used to.”
The Beaver Creek hotel also plans to expand its Allegria Spa by 14,000 square feet.
Staff writer Julie Dunn can be reached at 303-820-1592 or jdunn@denverpost.com.
