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Lennar Unveils $110-Mil Hotel Renovation Plan

DENVER-The Executive Tower Inn hotel in the Central Business District will be converted into a luxury hotel and 130 condominiums under plans unveiled by Lennar Partners. A $17.7-million-plus urban renewal subsidy will help.

By John Rebchook | Updated on October 05, 2001

DENVER-Lennar Partners publicly unveiled details of its proposed $110-million renovation of the Executive Tower Inn hotel in the Central Business District into a luxury hotel and 130 condominium units. The Denver Urban Renewal Authority is expected to approve a subsidy for the project from $17.7 million to $20 million later this month, says Tracy Huggins, executive director of the Denver Urban Renewal Authority.

The DURA tax increment-financing package then needs to be approved by the city council. If all goes well, Mayor Wellington Webb would sign the deal on Nov. 23, she says.

The plans call for 321 first-class rooms, about 16 fewer than it has today, Bill Smith, a vice president at Lennar.

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