“The developer of RiNo retail complex Backyard on Blake wants to build a hostel in Five Points.
Mainspring, led by Fiona Arnold, submitted a site-development plan to the city last week proposing the five-story project at 3030 Welton St.
“We’ve been referring to it as a hotelito, because it’s really a cross between a hotel and a hostel,” Arnold said.
The front desk would be on the fifth floor, preserving the ground floor for retail and restaurant space, Arnold said. The second floor would have seven private rooms, while the third and fourth floors would have bunkrooms, with about 80 beds between the two floors.
In addition to the front desk, the fifth floor would have communal space and a bar open to the public, Arnold said.
Mainspring plans to operate the hostel — the name has yet to be finalized — and charge between $50 and $60 for a bed in the bunkrooms, Arnold said. The private rooms would be priced similarly to a hotel room.
Mainspring purchased the 0.1-acre 3030 Welton site, which is undeveloped and has frontage on both Welton and Downing streets, in June 2017 for $365,856, according to records. At the time, Arnold told BusinessDen that she was considering either a hostel or a small condominium project.
Denver has a handful of hostels. The 11th Avenue Hotel and Hostel at 1112 Broadway is the cheapest, advertising bunkroom rates starting at $29. Elsewhere in Capitol Hill is Ember Hostel at 857 Grant St., whose rates start at around $40. On the other side of downtown, in Ballpark, there’s the similarly priced Hostel Fish at 1217 20th St.
Arnold sees room in the market for another hostel.
“We just don’t have enough high-quality beds at an affordable price point in Denver,” she said.”
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Gounley, Thomas. BusinessDen 13 March 2019.