Developer discusses plans for boutique hotel in downtown Longmont
The Thrash Group, a Mississippi-based hospitality company that operates the official Red Rocks Amphitheater hotel, plans to develop a boutique hotel in Longmont.
“Every (hotel) is different. We try to adapt to the local market,” said Ike Thrash, founding partner of Thrash Group, in an interview on Tuesday. “We have (a hotel) in Lexington, Kentucky that … is all about horses and whiskey.”
In Longmont, the future boutique hotel would include approximately 84 rooms and would be built on the northwest corner of Kimbark Street and Third Avenue, which is currently used as a public parking lot.
At its regular meeting on Tuesday evening, the Longmont City Council was expected to weigh in on the hotel development deal.
If approved as written, the hotel would receive up to $4.3 million in public financial assistance for the hotel project.
As of the Times-Call’s printing deadline, the city council had yet to consider the development agreement.
“I’m always grateful when someone helps us do anything – no doubt. But a lot of that money goes to the parking lot,” Thrash said of the public money that could be earmarked for the project. “If we didn’t have to build a parking garage, the incentives might be half that. But, you definitely need parking.”
As part of the development, the Thrash Group proposed to build a parking structure with 65 designated spaces for hotel guests and 75 spaces for the general public.
Given Longmont’s snowy winters, Thrash said the hotel won’t have a pool but will offer a workout area, a rooftop bar and restaurant, and meeting and event space downstairs. -pavement.
“We’re pretty much always full Thursday through Sunday,” Thrash said of the hotel company’s various other hotel properties. “We have less corporate business than most hotels, but more transient business than most.”
Thrash estimated that rooms would likely cost around $175 a night at the Longmont Hotel, but said the price could go up or down depending on the night and the market at the time.
During the invited-to-hear public portion of Tuesday’s city council meeting, some residents and business owners raised concerns about the hotel’s impact on downtown parking availability.
However, other Main Street business owners spoke enthusiastically about the prospect of a new hotel, believing it would generate more foot traffic and help their bottom line.
The Longmont Downtown Development Authority approved the boutique hotel plan at its Nov. 9 meeting.
The boutique hotel is valued at $24.5 million and could open in mid-2024, according to a city press release.
Thrash said his company was particularly interested in developing a hotel in Longmont given the town’s rapid growth.
The hotel is also estimated to create between 60 and 70 jobs, Trash said.
“Longmont is adorable,” Thrash said. “I would live there in a heartbeat.”