RiNo is getting its first hotel.
Brighton Boulevard may be a far cry from the posh digs at Boulder’s St. Julien Hotel & Spa, but the owners of St. Julien are teaming up with Zeppelin Development to build a $41 million hotel next to The Source market at 3330 Brighton Blvd.
It’s a project Zeppelin Principal Kyle Zeppelin said will draw travelers who prefer a neighborhood in transition.
“People don’t always want to be in the most established areas,” he said. “There’s a certain sense of urban explorer where people want to go experience interesting things, and our job is to have a comprehensive enough design and level of activity there so that it is a draw.”
The Source Hotel will be the first hotel project for Zeppelin Development and the second Colorado lodge for the owners of St. Julien. River North Investment Partners, headed up by Jason and Ben Kaplan, also holds an ownership stake in the project.
Zeppelin Development’s 3330 Brighton Blvd LLC owns the 1.6-acre spot. The company bought it in 2013 for $2.35 million, county records show.
Plans call for 100 guest rooms, a 25,000-square-foot market similar to The Source and a craft brewery, according to a Zeppelin press release. The Source Hotel won’t have all the amenities of the upscale St. Julien, but it will be a step up from a standard chain hotel.
“It’s not just providing a roof over people’s head as some of the really basic stuff does. But on the other hand, we’re not trying to compete head-on with the most luxurious projects,” Zeppelin said.
Bruce Porcelli, a St. Julien co-owner, said it is difficult to forecast rates two years before the scheduled opening, but guesses rooms would go for about $200 a night.
Porcelli was drawn to the project by RiNo’s recent residential and office developments and the location’s easy access to downtown, highways and a forthcoming light rail station.
“It’s a transitional neighborhood, and time will tell, but it does seem to have all the right variables going for it,” Porcelli said.
The Source Hotel project will also essentially double the size of the The Source, which Zeppelin Development opened at 3350 Brighton Blvd. in 2013. A 25,000-square-foot retail and restaurant marketplace will take up the hotel’s second story, which will sit on equal footing and share a pedestrian walkway with The Source.
Zeppelin said The Source Hotel market will hold between 12 and 18 tenants. So far Zeppelin said a barbecue joint, pastry shop, jewelry shop and travel goods company are in the mix to fill the market.
Zeppelin said he’s making sure to avoid putting tenants in the same business in both places. For example, The Source Hotel will have an anchor restaurant, but it won’t be a taco joint to compete with The Source’s Comida.
“We’ll have a lot of the tenants and uses we wanted to include in our next life but ran out of room for at The Source,” he said.
Zeppelin aims to break ground on The Source Hotel in June with plans on delivering the finished product in early 2017. Dynia Architects designed the project and W.E. O’Neil Construction is the general contractor. Great Western Bank will provide financing.