An architectural rendering shows what the Boulder Industry and Arts Center might look like when completed at 5125 Pearl Parkway in Boulder. Courtesy Sanzpont Architectura.

Denver developer proposes $24M office complex, boutique hotel for Boulder

BOULDER — Denver-based Sagebrush Cos. met with the city of Boulder’s planning department Friday to get the ball rolling on two major projects — an 80,000-square-foot office complex and a 50-unit boutique hotel.

Don Caster, a partner at Sagebrush Cos., a real estate development and property-management firm, said Friday that the company bought the 2.5 acres of vacant land at 5125 Pearl Parkway for the office complex that will be called the Boulder Industry and Arts Center last week from Pollard Motors Co. for $4 million.

The conceptual design for the futuristic looking $24 million three-story center was created by Sanzpont Architectura, an architectural firm based in Barcelona, Spain that has an office in Chicago.

Caster said Coburn Design in Boulder will take the conceptual design and see it through to completion, including ushering plans through the planning department. Caster said a basement component to the design is being vetted now, that if feasible, would add more space.

The boutique hotel likely will be called the Carmen Hotel — the same name Sagebrush has given a hotel it is building in Playa Del Carmen, Mexico. The $12 million hotel will be built at 2691 30th St. The property currently is occupied by Robb’s Boulder Music, the Ringmaster and an Arthur Murray dance studio.

“We will give them plenty of notice before we raze the building,” said Caster, who expects to complete the planning process in six to eight months.

An architectural rendering shows the Boulder Junction Townhomes apartment complex, a joint project of Sagebrush Cos. and Greenius LLC.
An architectural rendering shows the Boulder Junction Townhomes apartment complex, a joint project of Sagebrush Cos. and Greenius LLC.

Sagebrush is working on another project in the same area, the 32-unit Boulder Junction Townhomes apartment complex at 2751 and 2875 30th St. Sagebrush is partnering with Greenius LLC on the project that is expected to get underway by the end of this year or January, Caster said.

The project would include large — about 2,700 square feet —  apartments spread among four buildings that surround a central park area, along with underground parking. The units would each be three stories tall plus full basements. They would include three bedrooms each and balconies overlooking the open space. Various green aspects would be included in the project, among them solar hot water and electricity, electric vehicle plug-ins and Nest thermostats.

Caster said Boulder is a great market for in-fill projects, and what makes these projects more appealing is Google’s expansion in Boulder — 300,000 square feet of office space — of which the first phase of 200,000 square feet is under construction now at the southwest corner of Pearl and 30th streets.

Caster said the office center could be used by companies that may enter the area to be near Google, but not solely, and the apartments would be ideal for Google employees. He said each apartment likely would rent for $5,000 per month, but certainly will be large enough for roommates.