Construction on a new seven-story apartment complex in downtown Denver is set to go up on the current site of a Ramada by Wyndham hotel.
The San Antonio-based Kairoi Residential has purchased the site, with plans to first demolish the 3-story hotel in order to make way for the new apartment project.
That project will see the building of 334 apartment units, along with around 6,000 square feet of retail space, at the nearly 2-acre site located at 1150 E. Colfax Avenue.
Plans also call for parking on two levels.
The property was formerly the site of the Heart O’ Denver Motor Hotel whose Tiki Lounge was known for its wide array of Polynesian cocktails.
Last year the Kairoi company built the Park 17 luxury apartment complex on E. 17th Street in Denver.
Specializing primarily in residential projects, Kairoi builds and oversees developments primarily in Texas, but also in Arizona and Colorado.
Although a construction schedule for the new Denver apartment complex has not been announced, it was earlier estimated that it would probably take between 24 and 30 months to complete the project.
By Garry Boulard
