McWhinney to break ground on LoDo’s $140M Z Block in December

LOVELAND – McWhinney, a Loveland-based real estate development, investment and management company, will break ground in December on Z Block, a mixed-use project in Lower Downtown Denver that will include a 170-room hotel operated by Sage Hospitality.

Troy McWhinney, speaking at the 18th annual Northern Colorado Real Estate Conference on Wednesday, said the $140 million project will include 220,000 square feet of office and retail space, and three levels of underground parking with 400 parking stalls. He said the office and retail structure will cost $95 million to build, and the hotel will cost $45 million. He expects the project will be completed in 18 months.

He said the average cost per night for a hotel room in Denver is about $135, and he projects that amount will increase to more than $300 per night in 20 years. “I call that a good investment,” he told the audience at the conference.

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Troy McWhinney, who cofounded the company with his brother, Chad, said they are in a joint-venture with California-based partner Grand American Inc., which owns the property.

They will build the hotel plus office and retail space on the block bounded by Wazee, 19th, Blake and 18th streets located between Coors Field and the redeveloped Denver Union Station. The name Z Block is derived from Wazee Street.

The project architect is Denver-based Shears Adkins Rockmore.

Tim Harrington and Tom Lee of Newmark Grubb Knight Frank will lease and market the office space.

McWhinney employs about 80 people at its office in Loveland and has 10 employees at an office in Denver.