Denver committee advances Barth Hotel proposal for up to $6 million

Denver’s Finance and Business Committee voted 5-0 on Oct. 27 to approve for filing a proposed funding agreement for the Barth Hotel’s conversion into 50 affordable senior apartments. The action advances the measure to the full City Council, whose approval is still required before the funding is final. Two committee members were absent, the committee minutes show.

The proposal would let the city transfer up to $6 million to the Downtown Denver Development Authority, which would make a separate loan for the project. The loan would carry 2% interest over 40 years. The project’s total cost is listed at $22.1 million, and the apartments are intended for households earning 30% to 50% of area median income. A project funding presentation anticipates permits in fall or winter 2026, construction beginning in spring 2027 and delivery in spring 2028.

The authority’s board approved a funding agreement Jan. 27, subject to final legal review, the city’s funding request says. The request identifies tax-increment financing revenue generated within the authority’s boundaries as the repayment source for the authority’s loans. The funding measure is separate from the City Council’s Oct. 5 vote to add the property to the authority.

The Denver Post, republishing BusinessDen reporting on Oct. 10, reported that Eaton bought the hotel from Senior Housing Options for $2.5 million and planned the renovation with Urban Ventures.