El Paso Texas City Appraisal

Old DHS building may become 100-room hotel

A struggling area on the west edge of downtown Colorado Springs could get a big lift with plans to turn a vacant office building into a 100-room hotel that would be affiliated with either the Hilton or Holiday Inn chain.

The owners of the nearby Clarion Hotel plan to spend $4 million gutting the run-down 40-year-old office building, which housed the El Paso County Department of Human Services , and turning it into a hotel that would open next spring, said Ted Jarosz Jr. He is managing partner of the Jarosz Family Limited Partnership, which has agreed to buy the building at 105 N. Spruce St. from the county for $2.4 million.

“This will bring economic vitality to a section of downtown that doesn’t have any. This hotel will be adjacent to the Bijou Street interchange (of Interstate 25) that is the gateway to downtown,” said Sam Eppley, owner of Sparrow Hawk Cookware and president of the Downtown Partnership , a downtown advocacy group. “Colorado Springs and downtown are a great destination for business and tourism, and more hotel rooms will add to that.”

Jarosz said he hopes to complete the purchase by June and gut the 64,640-square-foot building so it can be converted into between 90 and 100 hotel rooms. He said the hotel would include about 2,000 square feet of meeting rooms, but the partnership hasn’t decided whether it would include a restaurant. The hotel is scheduled to open in spring 2013.

The same partnership owns the 202-room Clarion Hotel, 314 W. Bijou St., which it acquired for $5.65 million in 2004 and then spent $2 million renovating.

“We approached the county last spring but the negotiations fell apart during the summer. We got back together in the fall and got the deal done,” Jarosz said. “We are really excited about this project. I am bullish on downtown. While it has been affected by the economy, downtown will recover when the rest of the economy recovers. The Clarion is out here by ourselves, and having another property nearby will attract more people. It will be an improvement for the neighborhood as well.

Cupid strikes El Paso's heart with Children's Hospital

EL PASO - The $120 million El Paso Children’s Hospital is set to open in March. The 225,000-sf facility, 4845 Alameda Ave., will feature 72 private rooms, a 50-bed baby intensive-care unit, a 22-bed intensive care unit and a yet ...

Austin Real Estate article courtesy of NewsTalk Texas who writes for NewsTalk Texas. You can find the original post at NewsTalk Texas .

Thanks for reading!

Based on information from the Austin Board of REALTORS ® (alternatively, from ACTRIS) for the period through 2/14/12 12:37 PM PST. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided “AS IS” and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.

The performance appraisal question and answer book, a survival guide for managers

Answers 100 of the most common -- and most difficult -- questions about performance appraisal.

City, A Story of Roman Planning and Construction

Text and black and white illustrations show how the Romans planned and constructed their cities for the people who lived within them.

Texas

Presents a saga spanning four and a half centuries, from the first Spanish exploration of Texas to its emergence as one of the most powerful states, with a cast of more than two hundred real-life and fictional characters

The complete guide to performance appraisal

The Complete Guide to Performance Appraisal supplies you with the quickest, surest, and most up-to-date methods available for making your appraisal system outstanding.

Texas

Introduces the geography, history, environment, economy, famous people, and culture of the Lone Star State.