Inspire Investment begins All Inn Hotel redevelopment work
by Avalon Jacka
DENVER – A local developer has commenced rehabilitation work on a historic hotel on East Colfax Avenue.
Inspire Investment Group began its redevelopment of the former Fountain Inn, located on a 0.85-acre site at 3015 E. Colfax Ave., which officially closed in 2022. The motel has undergone multiple changes over its 65-year history and was best known for the Rockbar, a popular ground- floor night club. Inspire Investment Group plans to complete the 29,000-square-foot, 54-room hotel, which has been renamed The All Inn Hotel, by fourth-quarter 2025. The project is expected to cost a total of $22 million, with the renovation costing about $11 million.
“The All Inn Hotel is representative of a lot of people that are involved in this [project], it's taken on a little bit more meaning beyond that,” said Brian Toerber, Inspire Investment president. “Because this was such a challenging development to begin with, it really took a lot of belief in it, and a lot of the community was just amazing because they had to deal with this [blight] for decades, even since I've owned it, it’s been difficult with encampments and break-ins and vandalism and all the things that vacant buildings attract. It just needed patience as we solved it. It took a long time to get there, and the community showed up at City Council when we needed them to support us. We had dozens of people calling in support. We have a strong commitment to the community, and we have a relationship with the neighborhood now, which I think is unique.”
Inspire Investment Group acquired the site in 2016 with the intention of doing a housing project conversion. In conversations with neighborhood residents and Denver City Council, Toerber saw a need and excitement for a hotel in the community, as the area is a “hotel desert.” The development team explored options for development of the site from acquisition to 2019. Once the pandemic hit, the developer started exploring options to put the building on the historic register to receive tax credits to finance the project. Plans for the redevelopment were scaled back from 81 rooms to 54 rooms due to a lack of financing options for the bigger scope.
Current plans for the property include a full-service restaurant and lobby bar, which will be operated by Steven Waters, the owner of Run for the Roses and Take Care Brands Hospitality. Additional activations are being considered for the site, such as an outdoor pool for both guests and the community, though no plans have been set for those additional activations. Life House Hotels will operate the independent hotel.
“This ultimately is going to be an independent boutique hotel, so we don't have a flag,” Toerber said. “We are not a Marriott. We're not a Hilton. It had to fit in the fabric of the community. Colfax is all about family-run independent businesses, so we wanted to be [part] of that.”
Inspire Investment Group tapped Hyder Construction as general contractor in 2016, and the firm has stayed engaged in the project since. The developer started the project with a different architect and will complete the project with Design Practice Inc. Interior design and branding efforts will be led by Denver- based Maximalist Experience Design.
“We create brands and environments that evoke emotion and stimulate the senses,” said Abigail Plantier, Maximalist Experience Design founder and member of the All Inn Hotel ownership group. “We believe in maximizing each opportunity to curate a guest experience that tells a story. We are passionate about the Colfax community and revitalizing an iconic Denver landmark. There will never be another Rockbar, this will be something completely different, a nod to the past with our own twist on the mid-mod era. Nonetheless, it will serve as an amenity to the neigh- borhood.”
Additional project partners include the Denver Urban Renewal Authority, the city and county of Denver, the Colorado Historical Foundation, The Colorado Clean Energy Fund and The Sherwin Williams Co.
“Our lenders are key here, because, in no small part, we got this done with their cooperation,” Toerber said.
The developer received $7 million in C-PACE funding, arranged by PACE Equity, from an undisclosed local bank. The All Inn Hotel is eligible for state and federal historic tax credits.
“This project represents a great example of private and public funds coming together to revital- ize a historically underserved area and is consistent with CCEF’s mission to promote electrification, energy efficiency, and a sustainable built environment,” said Paul Scharfenberger, executive director of the Colorado Clean Energy Fund.
While Inspire Investment Group does not have any other hotel renovation projects currently in progress, the firm does own another hotel on West Colfax Avenue.
“We’d like to proof of concept here [at The All Inn Hotel] and maybe take it West and do something very similar,” Toerber said.