The developer of a Drury Inn & Suites in Denver’s Central Park has filed a lawsuit over undeveloped land to the north of the hotel. (Thomas Gounley/BusinessDen)
The developer of a hotel in Denver’s Central Park is tired of waiting for fajitas.
Missouri-based Drury Development Corp., which owns the Drury Inn & Suites at 4550 N. Central Park Blvd., has sued a Mexican restaurant operator for failing to meet a deadline to open on an adjacent lot.
Drury Development sold about 2 acres north of the hotel in September 2022 for $2 million, according to public records.
The buyer was Real LLL Inc., owned by Juan Luevanos.
In a lawsuit filed in Denver District Court last week, Drury Development said that, as part of the deal, Real LLL agreed to build at least one sit-down restaurant on the land.
If that restaurant didn’t open within 18 months, by March 2024, Drury Development would have the right to repurchase the land for the same $2 million price tag, according to the lawsuit.
The firm wanted the restaurant so its hotel patrons would have a convenient place to grab a bite.
Drury Development said in the lawsuit that Real LLL repeatedly assured it that construction on a restaurant was imminent. But no work has begun.
In November, according to the lawsuit, Drury Development sent a letter to Real LLC saying it was exercising the repurchase right. It sent over a contract for a signature.
Drury Development said it has received no response. Its lawsuit asks the court to order Real LLL to proceed with the deal.
Luevanos owns Real De Minas Mexican Grill, which has four locations in Denver and Aurora. City records show he was looking to add another next to the Drury hotel. The eatery serves standard Mexican fare and also claims to serve Colorado’s best parrilladas, a sort of Mexican barbecue.
In a phone call Monday, Luevanos told BusinessDen that “we cannot build right now,” citing macroeconomic factors such as interest rates as well as struggling sales at his existing restaurants.
Luevanos said he’s open to selling the land back — but not for the $2 million that Drury Development says was specified in the contract. He said the value of the property has increased since 2022, and he’s spent six figures on development plans and property taxes.
“We are in the hole for almost $700,000. … I don’t think it’s fair for them to pay the same amount,” he said.
Luevanos also disputed that he hasn’t responded to Drury Development, saying he called nearly every day last week.
Attorneys Jamie Steiner and Tessa Carberry of Husch Blackwell are representing Drury Development.
The developer of a Drury Inn & Suites in Denver’s Central Park has filed a lawsuit over undeveloped land to the north of the hotel. (Thomas Gounley/BusinessDen)
The developer of a hotel in Denver’s Central Park is tired of waiting for fajitas.
Missouri-based Drury Development Corp., which owns the Drury Inn & Suites at 4550 N. Central Park Blvd., has sued a Mexican restaurant operator for failing to meet a deadline to open on an adjacent lot.
Drury Development sold about 2 acres north of the hotel in September 2022 for $2 million, according to public records.
The buyer was Real LLL Inc., owned by Juan Luevanos.
In a lawsuit filed in Denver District Court last week, Drury Development said that, as part of the deal, Real LLL agreed to build at least one sit-down restaurant on the land.
If that restaurant didn’t open within 18 months, by March 2024, Drury Development would have the right to repurchase the land for the same $2 million price tag, according to the lawsuit.
The firm wanted the restaurant so its hotel patrons would have a convenient place to grab a bite.
Drury Development said in the lawsuit that Real LLL repeatedly assured it that construction on a restaurant was imminent. But no work has begun.
In November, according to the lawsuit, Drury Development sent a letter to Real LLC saying it was exercising the repurchase right. It sent over a contract for a signature.
Drury Development said it has received no response. Its lawsuit asks the court to order Real LLL to proceed with the deal.
Luevanos owns Real De Minas Mexican Grill, which has four locations in Denver and Aurora. City records show he was looking to add another next to the Drury hotel. The eatery serves standard Mexican fare and also claims to serve Colorado’s best parrilladas, a sort of Mexican barbecue.
In a phone call Monday, Luevanos told BusinessDen that “we cannot build right now,” citing macroeconomic factors such as interest rates as well as struggling sales at his existing restaurants.
Luevanos said he’s open to selling the land back — but not for the $2 million that Drury Development says was specified in the contract. He said the value of the property has increased since 2022, and he’s spent six figures on development plans and property taxes.
“We are in the hole for almost $700,000. … I don’t think it’s fair for them to pay the same amount,” he said.
Luevanos also disputed that he hasn’t responded to Drury Development, saying he called nearly every day last week.
Attorneys Jamie Steiner and Tessa Carberry of Husch Blackwell are representing Drury Development.
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