Planning is underway for construction of a uniquely designed hotel that will go up in the increasingly popular Lower Highland neighborhood of Denver.
The project belongs to the Denver-based company Urban Green Development, which specializes in smartly designed sustainable real estate projects.
To be called Raha, the new four-story hotel will feature 35 units and some 2,000 square feet of bar and restaurant space on the ground level. Designer of the new project is the Neo Studio, also of Denver, which specializes in mixed-use and residential projects.
The hotel, which is expected to cost around $23 million to complete, will also include a rooftop patio.
Among its many other projects, Urban Green Development has launched the Factory Flats, located at 3189 Blake Street in the River North Art District of Denver.
That 5-story building features roof top solar panels and was built for a LEED Platinum certification.
The Lower Highlands area, populated with historically significant Victorian homes built in the late 19th century, as well as more recent townhome construction, has become one of the most upscale sections of the Mile High City.
The average single family home price in the neighborhood in 2022 was just over $1.5 million, while the average rent, according to the site Zumper, is now above the $2,000 mark.
By Garry Boulard
