Boulder eyes new downtown hotel ahead of Sundance

The latest: The city has agreed to sell a 59-stall surface lot at 2121 Broadway to Midnight Auteur LLC.

• The sale has not yet been finalized, and no price estimate or range has been publicly released.
• Nearby garages can absorb the parking loss, the city says.

Zoom in: The development would include ground-floor commercial space leased below-market rates for local businesses.

• The hotel will have publicly accessible gathering areas and a rooftop, and the developer has committed to incorporating art and cultural events.

Context: Midnight Auteur is a hotel developer founded by the owner of Denver's The Ramble Hotel and the founder of the cocktail bar chain Death & Co.

• Midnight Auteur was founded by Ryan Diggins, owner of Denver's Ramble Hotel, and David Kaplan, founder of Death & Co., whose Denver location operates inside the Ramble.

Diggins grew up in Boulder and has fond memories of the Pearl Street Mall: "Creating a hotel just off Pearl Street is an incredible privilege and a responsibility."

Between the lines: Boulder has been looking for ways to expand hotel capacity before Sundance begins next year.

• The project also fits into the city's broader effort to revive downtown after the pandemic slowed activity.

What they're saying: "This partnership represents an opportunity to turn a parking lot into an economic driver in our core downtown," said Nuria Rivera-Vandermyde, Boulder's city manager.

What's next: The Downtown Management Commission will review the proposal next Tuesday. City Council is expected to consider the final agreement in early August.