DENVER — A former DoubleTree hotel is now in the hands of the city of Denver, bringing it closer to being used in the mayor's goal of sheltering 1,000 people experiencing homelessness this year. The city will convert the building into a noncongregate and emergency cold weather shelter as soon as this week.
The hotel at 4040 Quebec St. sold to an LLC associated with Rocky Mountain Communities for $39 million on Nov. 28, according to property records. The site was previously owned by Denver Project Owner CP LLC, associated with New York-based Taconic Capital Advisors.
Earlier this month, Denver City Council passed a resolution authorizing a lease agreement for the hotel between the city and affordable housing nonprofit Rocky Mountain Communities. Under the agreement, the city will lease the 300-room hotel in the Central Park neighborhood from Rocky Mountain Communities for $83,333.33 a month. The lease went into effect following the sale of the property.
> Read the full story at the Denver Business Journal.
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