Trammell Crow Company Sells Hotel Site to Raymond Management Company in Olde Town Arvada
August 8, 2022
The Hotel Site is Planned for a 128-Room Residence Inn by Marriott
Trammell Crow Company (TCC) has sold a 2.09-acre pad site in Olde Town Arvada. This hotel pad site is development-ready including all grading, draining, utilities and landscaping necessary to begin vertical construction. Raymond Management Company (RMC) of Madison, Wisconsin has purchased the site at the southeast corner of Vance Street at 56th Avenue and plans to build a 128-room Residence Inn by Marriott. The hotel is expected to break ground in Fall 2022.
This development completes the planned retail and amenity portion of the transit-oriented development that TCC is building just south of Olde Town Arvada and the Olde Town Transit Hub serving the RTD Gold Line to Olde Town.
- In 2014, TCC was selected by the City of Arvada, Arvada Urban Renewal Authority (AURA) and the Regional Transportation District (RTD) to develop the Olde Town Transit Hub, providing the parking garage, bus transfer and light rail station to service the community.
- Upon the opening of the Transit Hub and RTD Gold Line in 2019, the two sites totaling eight acres at 56th and Wadsworth, the former RTD Park-n-Ride location, were vacated and ready for development.
- In October 2021, High Street Residential, TCC’s residential subsidiary, broke ground on The Residences at Olde Town Station, a 252-unit, four-story apartment project on the northwest corner of 56th Avenue & Wadsworth Bypass.
- In January 2022, TCC began construction on The Shops at Olde Town Station at the southwest corner of 56th & Wadsworth. This 15,000-square-foot retail strip center is already fully leased to Snooze, an A.M. eatery; Smashburger; CAVA Mediterranean café; Everbowl acai bowls; and Parry’s Pizzeria and Taphouse.
- The Shops will open in Spring 2023. The Residences project and the Residence Inn by Marriott will open by Spring 2024.
“We are thrilled to be under construction with the residential, retail and restaurant mix to complement the unique restaurants, shops and amenities of historic Olde Town,” said Bill Mosher, Senior Managing Director of Trammell Crow Company’s Denver Business Unit. “We are excited to work with Raymond Management in the development of this key location in Arvada and appreciate the support and cooperation from the City of Arvada, AURA and neighbors and business owners to make this mixed-use project come to fruition.”
The Residence Inn by Marriott was designed by GBA Architects., based in Middleton, Wisconsin and The Shops were designed by Farnsworth Architects. Howell Construction is the builder of both The Shops and the Residence Inn.
About High Street Residential
High Street Residential, the residential subsidiary of Trammell Crow Company, specializes in the development of multifamily housing. We have a deep background in urban, infill mixed-use residential development, as well as the redevelopment or repurposing of existing facilities. In the last 15 years, the firm has completed over $2.7 billion with a current pipeline of over 4,500 units.
About Raymond Management Company
Raymond Management Company (RMC) is a hotel development and management company with award-winning properties across the United States. As a company, we continue to build and develop in new markets while working together to deliver legendary service. RMC has opened and operated numerous hotels within both the Hilton and Marriott families of brands across the United States. With 40 hotels in its portfolio today, RMC remains committed to delivering outstanding hospitality and service to its guests.
Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of September 30, 2023, TCC had $15.4 billion of projects in process and $14.5 billion in its pipeline. It employs 650 professionals in 28 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.