The new owner of a boutique hotel in Cherry Creek is checking into a renovation aimed at enhancing the area’s cultural and retail fabric.
The Inn at Cherry Creek was acquired through a ground lease by 233 Clayton Partners, a collaboration of BCM Investments, Aparium Hotel Group and CHMWarnick. The 37-room hotel at 233 Clayton St. in Denver will continue to operate as is for the next year or so while the owners flesh out plans for a comprehensive renovation and repositioning.
The renovation won’t significantly change the number of keys – BMC CEO Matt Joblon said there literally will be no more than one to three additional rooms.
Matt Joblon
“We want to do a great, much larger neighborhood restaurant – three meals a day. We’re going to expand the retail space and bring in a third party to do an experiential type of retail that does not currently exist in Cherry Creek,” he said, adding there also will be more open community spaces.
The renovation likely will include the addition of a partial fifth floor to the four-story hotel.
It also will play into the neighborhood culture of Cherry Creek, known for its annual arts festival and, more recently, Arts Feast, for instance.
“I think there’s an opportunity to really expand upon and grow the cultural aspect of Cherry Creek,” said Joblon, noting that means arts, music, food and other amenities. “We want to do a project that is focused around the cultural part of Cherry Creek to really grow and expand that part of it … for both locals and people coming out and visiting.”
Joblon said the Cherry Creek North Business Improvement District is transforming the neighborhood from an “eight-hour-a-day community to an 18-hour-a-day community.”
“As we determine our plans for the Inn at Cherry Creek, we will be looking to support the community during these changes,” he said. “The core of our vision is to create a place that becomes the cultural epicenter for this neighborhood.”
Once underway, renovation of the Inn at Cherry Creek should take about a year to complete.
“BMC believes that Cherry Creek North is the premier destination in Denver for locals and visitors alike, and we are committed to maintaining the authenticity of this community.
The Inn at Cherry Creek has incredible potential to be a destination in and of itself in this thriving neighborhood, and we are thrilled to be working with Aparium and CHMWarnick to transform this asset.”
BMC has made a name for itself in Cherry Creek North with development of projects including Steele Creek apartments, which recently sold for $141.5 million, Halcyon Hotel and the forthcoming St. Paul Collection, Moxy Hotel and 2nd & Detroit.
Between the Halcyon, Moxy and Inn at Cherry Creek, the company will have more than 361 hotel rooms in Cherry Creek. Another Denver-based developer, Stonebridge Cos., is building the 201-room Jacquard Hotel in Cherry Creek North, a market that Joblon said for many years was starved for hotel rooms and offers a promising future.
“I think in the immediate future, there’s definitely plenty of new supply coming on line, and not a distinct need for additional hotel rooms,” he said, explaining the decision not to add significantly to the Inn at Cherry Creek’s inventory of guest rooms.
