National Firm Expands to Denver Spotlighting Public Financing Opportunities

Barth Hotel Project Secures Financing: A Victory for Denver's Seniors

Update The Historic Barth Hotel's New Chapter in Senior Housing In a pivotal moment for Denver's historic LoDo district, the long-awaited renovation of the Barth Hotel is set to become a reality. A partnership between Eaton Senior Communities and Denver-based Urban Ventures secured the final piece of financing—awarded tax credits—enabling the transformation of this century-old building into an income-restricted senior housing facility. With construction planned for spring 2028, the project not only aims to provide much-needed affordable housing for seniors but also to preserve the architectural heritage of the area. Funding and Future of the Barth Hotel According to Sue Powers, president of Urban Ventures, receiving $14.5 million in state and federal tax credits from the Colorado Housing and Finance Authority combined with a $6 million loan from the Denver Downtown Development Authority were crucial financial milestones for the project. "That was the last piece of financing needed," Powers stated, reinforcing the importance of community support and funding in preserving historic structures. The total estimated cost for renovating the Barth Hotel comes to $22.5 million, which will also augment the project with smaller loans. A Historical Legacy Revived Built originally in the 1880s, the Barth is steeped in history, originally serving as a warehouse before converting into a hotel. While the building has stood as a testament to Denver's past, it currently sits empty, needing revitalization to fulfill its potential serving local seniors. The renovation will reduce the unit count from 62 to 50—a strategic decision aimed at enhancing living conditions, ensuring each unit has its own bathroom for the first time. Providing comfortable living that suits the modern needs of low-income seniors is at the forefront of Eaton's mission. The Importance of Adaptive Reuse The Barth Hotel project highlights the crucial aspect of adaptive reuse in urban planning. As neighborhoods evolve, repurposing existing buildings can not only preserve history but also meet contemporary social needs. Powers emphasized this, noting, "It’s one of those projects you have to love adaptive reuse because there are surprises every day." The final goal is to ensure that older adults in the community can afford to live near the amenities and social activities they cherish in LoDo. Community and Economic Impacts By retaining the Barth Hotel as an income-restricted senior housing development, Eaton aims to maintain the residential balance in the area amidst the ongoing gentrification of Denver. The project’s completion promises to benefit not just future residents but the economy, attracting businesses that cater to the growing senior demographic. Looking Ahead Eaton Senior Communities hopes to finalize the purchase by late summer, with renovations scheduled to conclude by early 2028. Powers expresses a clear commitment, stating her desire to quell any concerns regarding the project's timeline. If plans fall through, hotelier Walter Isenberg stands ready to repurpose the property into a luxury hotel—a stark contrast to the community-focused vision that Eaton embodies. As this project progresses, it serves as a poignant reminder: adaptive reuse is not simply about stories and structures but about fostering a community where history meets modern needs. For involved stakeholders, such as Eaton CEO Diana Delgado, the endeavor goes beyond construction—it’s about improving lives and building futures.