The $300 million Four Seasons Hotel and Private Residences Denver will rise 45 stories high when it’s completed by the end of 2009.
Within the first 10 years, the project is expected to have a $100 million economic impact, stemming from sales taxes, property taxes and room and lodging taxes. More than 1,000 jobs will be created.
The Four Seasons, which will be on 14th Street between Arapahoe and Lawrence streets, will transform that corridor even before it’s finished, said Craig Reid, senior vice president of operations for Four Seasons.
“As soon as they start digging, you’ll see a migration of restaurants and office people,” Reid said. “It promotes other development. It builds on itself.”
While the building won’t be completed in time for the Democratic National Convention in August 2008, other development it sparks along 14th Street could make Denver more attractive to visitors pouring out of the Colorado Convention Center.
“I think the addition of the Four Seasons further perpetuates the development of 14th Street and demonstrates the importance of creating a destination street downtown,” said Tami Door, president and chief executive of the Downtown Denver Partnership Inc. “The Four Seasons, because it’s such a high-quality project, complements the other types of development that are occurring on that street to create a pure destination street downtown.”
The project includes 230 luxury hotel rooms and 102 private residences ranging from 965 square feet to 6,100 square feet. Prices of the condos range from $800,000 to $8 million.
Residents will have a private lobby with their own concierge, mailroom and secure-access elevators. They also have 24-hour access to Four Seasons services, including housekeeping, pet walking and sitting, plant care, private chef, in-home catering and room service and in-home spa treatments.
The building also includes 16,000 square feet of meeting space, including a 6,000- square-foot ballroom. It also will have a restaurant, lobby lounge and bar.
The developers hope to presell about half the condos before starting construction late this summer, said Michael Brenneman, a partner on the development team.
“We had 2,000 responses to an early e-mail,” Brenneman said. “There are a number of people with very serious interest who we think will move very quickly to contract.”
Brenneman said he isn’t worried about competition from the Ritz-Carlton hotel and residences, under construction at 1881 Curtis St.
“I think the Ritz is a great brand, but I think they’re in an unproven location,” Brenneman said. “I love this location in terms of all the momentum the arts district has and Larimer Square.”
Staff writer Margaret Jackson can be reached at 303-954-1473 or mjackson@denverpost.com.
