New Hotel-Office Complex Slated East of Denver

Ground was broken for a new $80 million hotel-office mixed-use complex in the Fitzsimons Life Sciences District in Aurora, Colo. Phase one of Fitzsimons Village, the new, mixed-use development, includes a six-story, Class A, 160,000-square-foot office building with 16,000 square feet of retail space on the ground floor. Also included in this construction phase will be structured parking and a 153-room Marriott Springhill Suites hotel. In addition, Fitzsimons Village will be connected to a medical campus.

It is projected that Fitzsimons Village will give related businesses a chance to keep up with the commitments the hospitals on the medical campus are making to their rapidly growing employee base. A children’s hospital will be the first tenant to occupy the office building, which will house ancillary services upon its completion in 2011. The University of Colorado Hospital and a planned Veteran’s Administration hospital also occupy the campus.

“Hospitals, in terms of design and structure, cost about three times more than office buildings,” said Thomas Banta, president and COO of Corporex, a real estate management and investment company. “By moving services like accounting, human resources, and back office to the new office building, the children’s hospital can make the most of its resources by dedicating its real estate to its core business.”