Owner of extended stay hotel off Interstate 25 is considering coverting units into apartments

The owner of a hotel by the Interstate 25/ Hampden Avenue interchange is interested in converting it into apartments.

The existing Towneplace Suites by Marriott Denver Southeast at 3699 S. Monaco Parkway in Denver has 112 units across two three- story buildings. They’re situated between a Regal movie theater and the parking for RTD’S Southmoor Station.

An affiliate of New York- based Three Wall Capital paid $ 10.5 million in

March 2019 for the hotel property, according to public records.

Three Wall is now exploring a conversion toward long- term tenants, according to plans submitted to the city this month.

But the extended- stay nature of the Towneplace Suites brand means not a ton of physical change would be needed.

“The current unit mix of units will be preserved, and consists of 86 studio units, 4, 1- bedroom units, and 22, 2- bedroom units,” the plans submitted this month read. “All 112 units already contain kitchens with full size appliances including refrigerators, oven/ ranges, sinks, and in some cases dishwashers.”

An existing breakfast room, laundry area and small prep kitchen in the hotel would be “converted to amenity rooms serving the new use,” according to the plans.

Contacted by Businessden on Monday, a Three Wall executive acknowledged the application but said she didn’t have time to comment. A followup email was not returned.

A studio unit at the Towneplace Suites was available for about $ 110 a night recently, according to the hotel’s website.

Elsewhere in Denver, the city’s secondlargest hotel is preparing for its first big face- lift. And Stonebridge Cos. is constructing a combination hotelapartment tower in the Denver Tech Center’s Belleview Station.