Meadows hotels on Glenwood Springs City Council agenda
Glenwood Springs, CO Colorado
GLENWOOD SPRINGS, Colorado ” Developers will ask the City Council Thursday for permission to build two hotels on unused land at Glenwood Meadows.
A 88,000-square-foot four-story Marriott Residence Inn would include 124 rooms, and a 56,000-square-foot three-story Marriott Courtyards would have 101 rooms. Developers will also ask for permission to provide only 198 parking spaces instead of 225 as required by municipal code, according to a city planner’s report.
The 10-acre lot the hotels are proposed for sits between the Community Center and existing buildings at Glenwood Meadows. It was intended as a hospitality site in an annexation and development agreement. It’s zoned C/4 Resort Commercial.
In October 2007, the City Council voted 4-3 to deny an application that would have been 100 percent retail on the lot. Some city councilors said then the proposal didn’t meet the intent of the annexation and development agreement.
In addition to the hotels, part of the currently unused plot of land would remain vacant for retail or restaurant development. Developers are asking the city to freeze property tax on the hotels at current levels for five years after they open “due to the capital intensive nature of real estate development, the public improvements associated with this project and the difficulty in obtaining financing in the current environment,” the development application states.
The two hotels would make $8 million to $11 million a year in the first five years of operation, developers said in the application, and the city would get around $900,000 a year from that in sales tax, accommodations tax, property tax and use tax.
Developers said the hotels “will surpass anything currently available” in Glenwood Springs, generate additional tax revenue, create demand for restaurant and retail business and make the site look better.
The hotels would be developed by Stonebridge Companies of Denver. It developed and owns the Holiday Inn Express and Hampton Inn in Glenwood Springs.
Also on Thursday night’s City Council agenda: renewal of the city attorney’s contract with a raise from $98,800 a year to $100,800 a year; a revised scope of work for the Highway 82 Corridor Optimization Plan; possible expansion of the city’s fiber-optic network; and raises for city employees.
Contact Pete Fowler: 384-9121
Post Independent, Glenwood Springs Colorado CO
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