Renovation of old Colorado National Bank building 30 percent complete
“Construction is about 30 percent complete on the stately old Colorado National Bank building, which is being converted into a 230-room luxury hotel. Renovation of the historic six-story structure at 17th and Champa streets downtown — renowned for its white-marble facade and towering columns — is expected to be completed late this year, according to owner and developer Stonebridge Cos.
The Denver-based hospitality-development firm purchased the property for $4.5 million in December 2009. Alliance Construction Solutions is the general contractor.
Asbestos abatement and demolition work began shortly after Stonebridge bought the building, and renovation began in earnest in August. The project carries a price tag believed to be about $50 million.
The developer received National Park Service approval for historic-preservation tax incentives, and the Denver Urban Renewal Authority approved tax-increment financing to help bridge the financial gap — up to $10 million, which will be paid by taxes generated by the project.”
Mossman, John. Denver Post 4 January 2013.