Transforming a Southeast Denver Hotel into Modern Rentals
A Southeast Denver Hotel Will Transform Into Modern Rentals
A residential transformation is underway in southeast Denver. A former extended-stay hotel is being reimagined into a vibrant community. Located on Monaco Street, the property is set to be converted into rental homes. This exciting project, led by a partnership between a South Florida investor and a local developer, is bringing new life into the area, offering options for those seeking comfort in this growing district.
The property spans two buildings that are each three stories, totaling a massive thirty thousand square feet. The purchase price for this well-situated real estate was $13.5 million; A solid investment in an area with convenient access to key neighborhoods. It will preserve the existing units, a mix of studios, one-bedrooms, and two-bedrooms, to provide a variety of spaces to cater to different lifestyles. This renovation is designed to enhance the building’s features and create an upgraded experience for its upcoming tenants.
Inside, each unit is set to receive significant upgrades. It will make them ideal for those seeking a refreshed, contemporary space. All 112 units are equipped with full-size kitchen appliances, including refrigerators, ovens, ranges, sinks, and dishwashers. The renovation will also include new floors, updated paint, blinds, bathroom fixtures, appliances, and lighting to ensure that each apartment meets the highest standards of living.
The developers are also investing in significant improvements to the building’s shared spaces. The ground-floor lobby will be fully renovated to offer an inviting and attractive entrance for everyone. A fitness center is included in the building, providing residents with convenient access to exercise and wellness amenities without having to leave the property. A stylish lounge area designed to foster community and relaxation will be included as well. The aim is to make the location a comfortable and convenient place to call home, with all the amenities one would expect in a modern rental development.
One of the highlights is its abundant parking, with 137 planned parking spots available to residents. This will ensure that tenants can easily access their homes where parking is usually a challenge. Additionally, it features a pool, allowing people to enjoy a refreshing swim and the opportunity to relax outdoors during warmer months.
The project’s developers bring a wealth of experience to the table. Spahr, a graduate of the University of Colorado Boulder, has a long track record of hotel-to-apartment conversions, particularly in the Southeast U.S. This is his first such conversion in Denver, although it is a city he has had ties to for years. Partnering with Spahr is local developer Adam Berger, known for his work in modular development across the growing city. Together, they are bringing their expertise to ensure the success of this exciting process.
While the project is still in its early stages, with cosmetic renovations planned for the existing structures, the team is confident that it will be completed promptly. The developers are already well into the process of finalizing site plans, and with permits secured, work is expected to begin soon. The goal is to have the newly converted rental units ready for occupancy by spring as renovations continue.
The location is also strategically located near several amenities and attractions, ensuring people have easy access to a variety of conveniences and services. Whether you’re commuting downtown or looking to explore the local area, the location offers a perfect balance of accessibility and comfort. Nearby, you’ll find a variety of shops, restaurants, and recreational opportunities, adding to the appeal of this redeveloped community.
This project is a model for future conversions in the region. As southeast Denver continues to attract various people, the need for quality rental housing is expected to grow. This transformation is just one example of how adaptive reuse of existing structures can meet that demand, helping to maintain the city’s character while providing living spaces that appeal to a diverse range of residents.
The conversion of the hotel into a rental development is an exciting addition to southeast Denver’s real estate landscape. This project is set to offer an attractive option for those seeking a refreshing space in this vibrant part of the city with its renovations, enhanced amenities, and prime location. As work progresses, the building’s transformation promises to bring an updated level of comfort, convenience, and style to one of Denver’s most desirable neighborhoods.