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The 1,500-room hotel and convention center located less than 10 minutes from the Denver International Airport and 25 minutes from downtown Denver is expected to begin operations in the fourth quarter of this year.
Properties such as The James have recorded near double digit year-over-year rent growth due to the large disparity between rents in downtown and suburbs as renters desire higher-quality units near jobs.
The historic St. Denis hotel will be demolished for ground-up construction, showing how certain developments can face community preservationists' resistance.
Throughout Napa/Solano, the available inventory is mainly older industrial buildings that do not meet e-commerce tenant demand such as clear heights of more than 30 feet, but Dermody's center will be 36 feet.
Construction in general is booming in Allen, as it is across North Texas, with numerous residential, retail and office projects underway in Allen and Collin County, including the Collin College Technical Campus.
McCarthy Cook recently acquired Dropbox-anchored Castro Station, a three-building class-A office campus totaling 114,809 square feet in downtown for $179.7 million or $1,565 per square foot.