Keenesburg project coming
A Minneapolis group is developing a 75-acre property in Keenesburg with residences, shops and an industrial park.
Denver East LLC will develop the first 35 acres of the property, about 35 miles northeast of Denver on Interstate 76, with townhouses, 20,000 square feet of retail space and a self-storage operation.
The 40 acres designated for industrial use, being marketed by David Patrick Doran of CB Richard Ellis, have been designed to accommodate a variety of needs. Lots range from 1.75 acres to 11 acres.
R.I. temple reborn as hotel
About 75 years after it was built, the neoclassical Masonic temple in Providence, R.I., will open in April as a Marriott Renaissance hotel.
Denver-based Sage Hospitality and investment partner Kimberly-Clark Corp. won the project to restore the building about five years ago. The building, which never was occupied, will include 272 luxury hotel rooms, a ballroom, a lower-level restaurant and lounge, meeting rooms and a fitness center.
“We like the Providence market,” said Walter Isenberg, president and chief executive of Sage. “It’s a beautiful building and was on Rhode Island’s most-endangered-building list.”
City Park West condos on way
Birch Street Group is developing 18 condos at East 17th Avenue and Downing Street in the City Park West neighborhood.
Condos in the project, expected to be completed early next year, will range from 1,100 to 1,400 square feet and will be priced from $350,000 to $450,000. Two 2,500-square-foot penthouse units will be in the $1.5 million range, Birch Street principal Chris Cardiff said.
“We plan on building them like custom homes,” he said.
The project also will include two retail corner spaces and four flex spaces.
Staff writer Margaret Jackson can be reached at 303-954-1473 or mjackson@denverpost.com.
30-year mortgage rates unchanged
National rates on 30-year mortgages were unchanged in the first week of the new year after posting three consecutive increases to close out 2006. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.18 percent last week, the same as the previous week.
Below are average mortgage rates in Denver, Adams and Arapahoe counties as of Thursday and the previous 52 weeks. The one-year Treasury bill average reported by the Federal Reserve Bank is 4.99 percent. The Cost of Funds Index for November from the Federal Home Loan Bank (11th District) was 4.358 percent.
