Developers hope to start work on the W Hotel on the 16th Street Mall as soon as they can find a new home for Office Depot.
Sage Hospitality Resources expects to close Monday on a 45,000-square-foot parcel at the corner of 16th and Market streets now occupied by the office supply retailer, which has four years left on its lease.
It plans to develop a 12-story W Hotel that includes 180 rooms and 56 residences.
Sage, which has a long-standing relationship with W Hotel parent company Starwood Hotels & Resorts Worldwide Inc., has been working on the deal for about eight months, said Brad Robinette, senior vice president of Sage.
“They had been looking down in the Central Platte Valley,” he said. “As soon as it looked like that wasn’t going to happen, we started talking to them about this location.”
Sage is buying the property from Herbert and Richard Cook.
The hotel is expected to help the city attract new residents and companies, said Tami Door, president of the Downtown Denver Partnership.
Staff writer Margaret Jackson can be reached at 303-954-1473 or mjackson@denverpost.com.
