In the Media: Hospitality

W Aspen & The Sky Residences at W Aspen

W Aspen & The Sky Residences at W Aspen

Five Reasons To Visit Aspen Snowmass This Winter

Download your new Aspen Snowmass app and get ready for ski season. Aspen Snowmass is part of both the Ikon Pass and Mountain Collective and is known for drawing a posh but eclectic crowd of skiers and snowboarders. They're also leaders in sustainability, using a permanent waxless base treatment for rental skis and snowboards, printing trail maps on stone paper and partnering with Taiga Motors to pilot an electric snowmobile program for more sustainable mountain operations. Here's what's new this year.

BIG ANNIVERSARIES

The Little Nell, Aspen's only Forbes five-star hotel, celebrates 30 years this year with a host of celebrations all winter. On November 28, their anniversary date, rollback room rates will begin at $289 plus tax and resort fee for townside guest rooms with other rooms and suites 30% off. The Little Nell unveils their winter wall art installation over the pool on December 13 followed by a Party Like It's 1989 après-ski extravaganza the following evening with ‘80’s themed cocktails and outdoor screenings of iconic ski movies. Guests are encouraged to wear vintage ski apparel. New Year’s at The Nell will be sponsored by Dom Pérignon with bottomless champagne.

A new redesign of public spaces by Champalimaud Design this past spring updates the lobby and living room with lighter colors and a more welcoming, residential atmosphere. Après-ski bar Chair 9 received a major refresh as well. Share your favorite memories at The Little Nell over the years for a chance to win a hotel stay.

It's also the 10th anniversary for the Viceroy Snowmass Resort & Spa, which underwent a major refresh this past summer, with new carpets, furniture, lighting, bedding and décor in all guest and residential spaces. They're offering an over-the-top 10th anniversary private jet package in partnership with evoJets that includes five nights lodging, a morning hot air balloon ride and private ski guide along with round-trip flights. Plus, they'll be surprising guests the first 10 weeks of the season with surprise extras like express spa treatments, moonlight snow hikes and free cookies in the lobby.

SNOWMASS BASE VILLAGE BLOWS UP

The $600 million mountain-resort development in Snowmass Base Village is the largest under construction in North America. The first phase of construction was completed last fall, including the new Limelight Hotel Snowmass, ski-in/ski-out residences and a public events plaza with ice skating rink. In December, a new community center called The Collective opens with a bar, game lounge with classic arcade games and neon foosball and community center with a rotating schedule of entertainment and live music from local organizations like Aspen Center for Environmental Studies (ACES), Anderson Ranch Arts Center and Thunder River Theatre Company. Aspen chef Martin Oswald, known for his nutritarian cuisine at Pyramid Bistro and the delicious catering in the VIP section for Jazz Aspen Snowmass, makes his Snowmass debut with fast casual cooking at Mix6.

The new One Snowmass building opens in time for the 2019-20 winter ski season as well, with additional retail and dining, including King Yoga, JÜS Snowmass and Colorado-based eyewear boutique Eye Pieces. One Snowmass will house a full-service salon and spa too, plus a community-based art studio and gallery, Straight Line Studio, presented by local artist Kelly Peters.

WATCH A SKI CHAMPIONSHIP

Snowmass and Aspen Highlands will host the 2020 U.S. Alpine Tech Championships Mar. 28-31 and watching the race is completely free for spectators. The Aspen Highlands race venue drops in right to the base area, so you can watch from the bottom without even putting on ski gear, or you can stand along the race course the entire way. The last time Aspen Snowmass hosted the U.S. Alpine Tech Championships was 60 years ago and the last elite ski racing competition here was the 2017 Audi FIS Ski World Cup Finals.

While the World Cups are more restricted, the U.S. Alpine Championships are much more accessible for meeting athletes. Spectators can watch the U.S. Ski Team athletes race and then be right next to them at the bottom of the course to ask for photos and autographs.

FLASHY NEW LODGING

W Hotel Aspen Lobby, W HOTELS

W Hotel Aspen Lobby, W HOTELS

Aspen has its first new build hotel in 25 years with the W Aspen, only the second W “Mountain Escape” ski resort globally after the W Verbier in the Swiss Alps. The hotel is styled after a modern chalet with sleek white oak paneling and a vibrant lobby mural by Gaia depicting Maroon Bells and Walter Paepcke, the Aspen Skiing Company and Aspen Institute founder who put Aspen on the international map.

The Living Room's second floor outdoor terrace is practically ski-in/ski-out and there are three DJ booths on property, including a geometric silver dome representing the largest silver nugget ever found at Smuggler Mine hanging right above the lobby. You can see all the way to Smuggler Mine from the 8,000-square-foot WET Deck, Aspen's only hotel rooftop bar and pool, with public access for locals. The 360-degree views here are pretty spectacular and you can take the late-night shenanigans to clubby 39 Degrees downstairs once the rooftop closes. With 88 rooms and 11 fractional ownership residences, the W brings a contrasting style of luxury to town where The Little Nell and St Regis have long reigned supreme.

W Hotel Aspen Wet Deck, W HOTELS

W Hotel Aspen Wet Deck, W HOTELS

In Snowmass, Limelight Hotel Snowmass opened in December 2018 with ski-in/ski-out access in the heart of Snowmass Base Village. The pet-friendly hotel has 99 rooms plus a five-story climbing wall and hearty breakfast buffet to prepare you for a day on the mountain.

NEW MOUNTAINTOP DINING

Sam's Smokehouse is no more, replaced by an elegant modern Italian restaurant on top of Sam's Knob on Snowmass. The revamped Sam's underwent a $2.5 million remodel including a live-action kitchen and stylish deck. “We got our inspiration from the street vendors of Palermo, the markets of Florence, the ma and pa trattoria’s of Rome, and the costal fishing villages of Cefalu,” says Jim Butchart, Aspen Snowmass' culinary director for on-mountain dining. Guests can remove their ski boots and don a comfy pair of slippers in the slipper room before sitting down to antipasti platters including burrata and prosciutto de parma followed by pasta made in-house daily paired with a negroni spritz.

In the Media: Hospitality

Sinner Bar Paris, SINNER PARIS

Sinner Bar Paris, SINNER PARIS

Now that it’s almost October, most of the Northern Hemisphere will be getting chillier, and drinking and dining will move indoors accordingly. There are several new hotels that happen to have beautiful bars, perfect for you to sip cocktails this season. Read on to discover some exciting, new places to drink at around the world. 

1. Sinner Paris

This new luxury hotel in Paris’ Marais district merges two unlikely concepts; religious heritage and daring design. The result is a monastic aesthetic which features stained-glass window, vaulted archways and gothic-style candelabras. The hotel blends elegant and sexy, and its bar is a decked out in seductive red velvet with enticing drinks to match. Try their Purpura Corde which is made with Caol Ila whisky infused with hazelnuts, Chambord Royal, cranberry juice, fresh blackberries and egg white. Or try their Novae Terrae which is made with Vida Mezcal, green Chartreuse, Maraschino, lemon juice and home-made cilantro syrup. 

2. Rooftop at Sir Victor

It’s still al fresco drinking weather for some time in Barcelona, so I recommend visiting Sir Victor’s The Rooftop for an afternoon or evening tipple. Here you’ll be able to enjoy cocktails while directly overlooking Gaudí’s Casa Milà and La Sagrada Familia. Their Bee Negroni is tasty for colder weather made with Campari, Bombay Sapphire Gin infused with chamomile, vermouth macerated with bee pollen, lemon flower bio honey and citrus bitters. It’s the herbaceous and honey-filled panacea you need for fall. Pair that with their delicious fermented heart of palm, avocado and young coconut ceviche to enjoy a tasty afternoon snack and drink. 

3. W Aspen - 39°

39° is a bar that’s a new incarnation of the legendary après Aspen ski bar 39 Degrees which was at the former Sky Hotel. Now it’s located on the ground floor of the new W Aspen as a cocktail bar and grotto, a place where “Aspen’s Red Light District legacy comes to life.” The menu features lots of inventive cocktails and bar food that excites your palate with sweet, sour, bitter and salty flavors. Their Spiked Cucumber Splash with grapefruit and rose vodka is a crowd pleaser and you can’t go with bites like mirin tiger prawns and crab dip with duck sauce. This fall and winter this is the newest spot to drink and warm up after a day of skiing. 

4. Avani + Samui

So, you want to actually escape the fall weather and go have cocktails somewhere warm? Head to Avani + in Samui for a warm drinking experience with cocktails served in a bar unlike you’ve ever seen before. The drinks here are served out of a beverage pool truck where the “roof” has been opened up and the cocktails are listed across it. Here you can sip cocktails made from local fruits blended with premium spirits, while overlooking the ocean. The drinks are inspired by the region and provide a welcome escape from the colder season. 

5. Bar Le Dome

In the mood for drinks in a setting with a real wow factor? Look no further than the new Intercontinental in Lyon. Here you will imbibe under a giant dome, as the name of the hotel would indicate. The cocktail menu showcases “revolutionary, and imaginative drinks, interblending a strong local influence with international creativity.” The cocktail menu travels around the world in flavor and liquors, for example their strong and tangy Zombie Tiki made with Appleton Estate rum, Wray & Nephew rum 63°, lime, grapefruit, cinnamon and pomegranate is a nod to Tiki, while their Para Todo Mal Mezcal made with Amores Mezcal infused with combava and ginger jam embodies Mexican cocktail culture. Cocktails in a spectacular setting, what more can you ask for this fall?

Article of Interest: URBAN LAND | Market Trends

EmergingTrends2020 Urban Land Image .jpg

Real estate investors face a changing world, with the rising risk of recession in the short term and, over the long term, a slower rate of economic growth in general. Despite anxieties, however, U.S. real estate is still a favored place for investors from all over the world to invest their capital, according to Emerging Trends in Real Estate® 2020, released by ULI and PwC during the Fall Meeting.

Over the next five to ten years, “Long-term economic growth is probably going to be slower—sustainable, but slower,” said Andrew Warren, director of real estate research for PwC and a coauthor of the report. “We look at the potential of 2 percent growth over the foreseeable future—five to 10 years.”

The widely anticipated annual industry forecast cites adaptability to change along with discipline as key factors in the industry’s ability to withstand an economic downturn and the possibility of softer real estate demand in the years ahead.

“The risk of recession is rising—not now, but over the next year. I think it’s up to 50 percent,” said Ken Rosen, chairman of the Berkeley Haas Fisher Center for Real Estate and Urban Economics and chairman of Rosen Consulting Group. “I am most worried about the trade war.”

Despite uncertainty and the changing global economy, real estate investments in the United States continue to draw money from around the world. Investors have few other choices that provide an attractive yield. “Real estate has stable returns . . . and there is less overbuilding,” said Warren. “There are warning signs [in the economy], but that capital is still going to be there and that will smooth the road as we go toward more sustainable growth going forward.”

A possible economic downturn could even encourage some potential buyers. “The biggest assemblage of wealth in real estate has been in the downturns, not in the upturns,” said Mitch Roschelle, partner and business development leader for PwC. 

Top markets

This year’s report notes that the top markets for real estate investors include several familiar names. Austin ranked first out of 80 U.S. cities for overall real estate prospects for 2020, followed by Raleigh/Durham, Nashville, Charlotte, and Boston.

“It is heavily weighted to the Southeast,” Roschelle noted.

It was a very close race between these top markets for the attention of the survey respondents. “Every year the spread in those scores is getting tighter and tighter,” said Warren.

The reasons investors are interested in these markets vary widely. “We want people to think of markets not as primary or secondary markets. We found some new groupings instead,” said Roschelle.

“Hipsturbias” grow

The Emerging Trends report also minted a new word to describe a particular kind of real estate market desirable to real estate investors: “hipsturbia.” These suburban markets are creating their own version of the live/work/play environments. “Brooklyn is the prototype,” said Roschelle. Respondents also mentioned Evanston, Illinois, just north of Chicago, and northern New Jersey.

“The people that are thriving in the knowledge economy, they want walkability . . . they want the town square experience,” said Andy Lusk, head of acquisitions for Lionstone Investments.

“It is impossible to live in New York City with three kids,” said Hilary Spann, managing director and head of Americas, real estate investments for CPPIB America. “Close-in suburbs provide an alternative.”


In the Media: Hospitality / Residential

W Aspen & The Sky Residences At W Aspen Opens Its Doors

A Northridge Capital and Sarpa Development Co-Development brings the Town of Aspen Its First New Downtown Resort in 25 Years

Washington, DC – September 19, 2019 – Washington DC-based Northridge Capital, Owner and Co-Developer, is pleased to announce the opening of the W Aspen & The Sky Residences at W Aspen. This is the first alpine Escape hotel in North America for W Hotels Worldwide, part of Marriott International Inc., and contains 88 guestrooms and suites, 11 private residences, the town’s only public mountainside rooftop “Wet Deck,”  signature W Living Room that extends to an outdoor patio, fitness center and the return of 39 Degrees, a legendary après ski bar in the former Sky Hotel (which was also owned and operated on the same site by Northridge Capital for 16 years). 

 The Sky Residences at W Aspen offer an exclusive shared ownership opportunity with 11 W-branded residences located slope-side on Aspen Mountain.  With a limited collection of six three-bedroom and five two-bedroom residences, owners have access to a private, owner-only roof deck with a spa, lounge seating, BBQ grills, outdoor kitchen and fire pit. In addition, owners can enjoy all of the Escape’s amenities and services at W Aspen, including Welcome Ambassadors and round the clock security; in-residence dining and STYLE housekeeping services; WHEELS valet service; FUEL® state-of-art fitness facilities; two WET® Deck pools; and W’s signature Whatever/Whenever® service promise, providing residents and hotel guests alike with whatever they want, whenever they want it.  The Sky Residences at W Aspen are currently being offered for sale as a 1/10th shared ownership interest in real estate by Forte International.

“After more than five years of hard work,” commented Northridge’s owner and president Dave Jackson, “we are thrilled to finally be opening the W Aspen for the enjoyment of its guests and the local community.  “In addition to its obvious attraction to winter sports enthusiasts, given the various design elements incorporated in the project, we think the W Aspen will become a global destination for loyal W brand aficionados, and an inspiration for artists and musicians that visit Aspen or call this area home. In keeping with the tradition of the Sky Hotel, much of the new resort will be open to the public, including the Wet Deck with its incomparable views of Aspen Mountain, Independence Pass and the City of Aspen.”

Northridge Vice President Kevin Fay added, “This is not a project that is done alone, and we’ve enjoyed tremendous support from many parties, including the City of Aspen, the elected officials of Aspen, the talented design teams of Rowland + Broughton and NEMAWORKSHOP, the incredible dedication of our General Contractor, Haselden Construction, and the steadfast support of our Lender, Fortress Investment Group.  We would also like to thank the W Brand/Marriott team for their vision of this resort hotel.  Finally, we deeply appreciate the multi-year involvement from our local partner, John Sarpa, without whom this project would not have been possible.”

 W Aspen opened its doors on August 29th, prior to Labor Day, and will be open 365 days per year. The hotel is already welcoming guests and is available on Marriott Bonvoy™. The W Aspen and the Sky Residences at W Aspen is located at 550 South Spring Street in Aspen, Colorado.

About Northridge Capital

Northridge Capital, LLC, is an independent real estate asset management firm that has invested since its founding in 1997 in over 52 assets on behalf of its investors, with a combined acquisition value of approximately $1.26 billion. Based in Washington, D.C., the company works mainly with overseas institutional and individual investors, especially those from the Middle East, to successfully define and implement customized strategies for investing in U.S. commercial real estate. Northridge focuses on generating superior risk-adjusted returns for investors by acquiring, managing, and selling real estate assets across a wide variety of property types and located in strategic geographic areas. For more information, visit www.northridgecapital.com.

 About W Hotels Worldwide

Born from the bold attitude and 24/7 culture of New York City, W Hotels, part of Marriott International, Inc., has disrupted and redefined the hospitality scene for nearly two decades. Trailblazing its way around the globe, with over 50 hotels, W is defying expectations and breaking the norms of traditional luxury wherever the iconic W sign lands. With a mission to fuel guests’ lust for life, W ignites an obsessive desire to soak it in, live it up and hit repeat. The brand’s provocative design, iconic Whatever/Whenever service and buzzing Living Rooms create an experience that is often copied but never matched. Innovative, inspiring and infectious, the brand’s super-charged energy celebrates guests’ endless appetite to discover what’s new/next in each destination, to see more, feel more, go longer, stay later. For more information on W Hotels, visit whotels.com/theangle or follow us on Twitter, Instagram and Facebook. W Hotels Worldwide is proud to participate in Marriott Bonvoy, the new name of Marriott’s travel program replacing Marriott Rewards®, The Ritz- Carlton Rewards®, and Starwood Preferred Guest® (SPG). The program offers members an extraordinary portfolio of global brands, experiences on Marriott Bonvoy Moments and unparalleled benefits including earning points toward free hotel stays and nights toward Elite status recognition. To enroll for free or for more information about the program, visit MarriottBonvoy.marriott.com.

 About Marriott International

Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 7,000 properties under 30 leading brands spanning 132 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world.  The company now offers one travel program, Marriott Bonvoy™, replacing Marriott Rewards®, The Ritz-Carlton Rewards®, and Starwood Preferred Guest®(SPG).  For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.


In the Media: Project Spotlight

Finalists revealed for CBJ's Heavy Hitters program, recognizing the region's best developments 

By Jen Wilson – Associate Editor, Charlotte Business Journal

One needs to look no farther than the rapidly evolving skyline of uptown Charlotte for evidence of the area's ongoing development boom — but significant projects are scattered throughout the region, from the central business district to the suburbs. Now in its sixth year, the Charlotte Business Journal's Heavy Hitters Commercial Real Estate Awards program turns a spotlight on the best development projects of the past year and the key players behind each of them.

Project Spotlight_Refinery 9.13.19Capture.JPG

CBJ solicited nominations for the program, which were then reviewed by the editorial team with consideration for the project's scope, impact and innovation, among other factors. To qualify, projects must have been substantially completed between July 1, 2018, and June 30, 2019, and be located in the greater Charlotte region.

In the end, 30 finalists were chosen across 11 categories. Winners will be announced at an awards event to be held Oct. 17 at The Westin Charlotte hotel — details and registration here.

In addition, a Pillar Award honoree — a prominent figure in commercial real estate who's played a key role in the region's development over time — will be announced at a later date. Winners of this award are selected based on the individual’s community service, contributions to the local real estate industry and leadership.

The 2019 Pillar Award recipient as well as the projects and teams being recognized this year will be highlighted in a special report to be included in the Oct. 25 issue of CBJ, with those profiles and additional features like photo tours to appear online. Look back at coverage of last year's program here.

Here are this year's Heavy Hitters project finalists, listed in alphabetical order by category:

Top apartment or condominium development

  • Pollack Shores Real Estate Group for The Penrose

  • SunCap Property Group for Draper Place

  • The Spectrum Cos. for Lantower Garrison Park

Top health-care development

  • Atrium Health for its Levine Cancer Institute expansion

  • Novant Health for its Novant Health Mint Hill Medical Center

Top hospitality buildout

  • Playbook Management Co. for La Belle Helene restaurant

  • Legion Brewing Co. for its SouthPark brewery

Top hospitality development

  • Carowinds for its Blue Ridge Junction themed area and Copperhead Strike roller-coaster

  • McKibbon Hospitality and Vision Ventures for the AC Hotel Charlotte City Center, Residence Inn Charlotte City Center and Nuvole Rooftop TwentyTwo

Top mixed-use development

  • Crescent Communities for Novel Stonewall Station

  • Ram Realty Advisors for The Collective

  • White Point Partners for Bowers

Top office development — multitenant

Top office development — single tenant

  • Cousins Properties and Dimensional Fund Advisors for Dimensional Place

  • Pappas Properties and the Charlotte Regional Realtor Association for the CRRA’s midtown headquarters

  • The Springs Co. for its own headquarters

Top public or civic development

  • Leroy Springs & Co. for the Anne Springs Close Greenway Gateway

Top retail development

  • Hutton for the Promenade at Carolina Reserve

  • Marsh Properties for its Strawberry Hill Center

Top office buildout

  • Cushman & Wakefield and Little Diversified Architectural Consulting for Cushman’s office at 300 South Tryon

  • Duke Energy Corp. and Gensler for the Duke Energy Innovation Center at Optimist Hall

  • Jewell Capital and Redline Design Group for the first floor of 200 South Tryon

  • Levvel and Redline Design Group for Levvel’s office at 101 North Tryon

  • Little Diversified Architectural Consulting for its own office at Regions 615

  • SentryOne and Gensler for SentryOne’s office at Bowers

Top warehouse development

  • Daumar Industries Corp. for its own facility

  • Foundry Commercial for Bryton Commerce Center

In the media: Hospitality

TRAILBLAZING: W HOTELS DEBUTS W ASPEN, THE BRAND’S FIRST MOUNTAIN ESCAPE IN NORTH AMERICA

First New Luxury Aspen Hotel in 25 Years, W Aspen is Set to Elevate Après-Ski Boasting the Town’s Only Year-Round Mountainside Rooftop Venue

Aspen, CO – AUGUST 29, 2019 – Set your sights Sky High. W Hotels Worldwide, part of Marriott International Inc., today announced the much-anticipated opening of W Aspen & The Sky Residences at W Aspen, located at the base of the world-renowned, eponymous mountain. With ski-in/ski-out access to some of the world’s most coveted slopes, stunning 360° mountain views and striking architectural and interior design, W Aspen is the second W Mountain Escape globally, following W Verbier in the Swiss Alps. Poised to carve out a new era of luxury in Aspen, W is bringing its bold point of view to the iconic mountain town for year-round access to alpine adventure.

 W Aspen is nestled slope-side on Aspen Mountain - an 11,212-foot summit internationally-renowned for skiing and snowboarding – tucked in at the end of Durant Street, where Aspen’s famous Red-Light District once thrived. From the Ute Native Americans and the silver miners of the late 19th century to the swinging counterculture of the ‘60s and ‘70s and the current crop of globe-trotting billionaires, Aspen’s ever-evolving residents and curious culture rival the world’s most dynamic cities.

 “Aspen’s people, vibrancy and natural beauty make this year-round mountain town the perfect place for the W lifestyle,” said Anthony Ingham, Global Brand Leader, W Hotels Worldwide. “W Aspen reimagines the traditional ski chalet and allows people to experience the town in a way they never have before, through evocative design, inclusive programming and a social scene that is sure to become an essential stop on the global jet-setting calendar. The first new build W Escape in the USA for 10 years, W Aspen marks a milestone in the brand’s reinvigorated focus on North America.”

 W Aspen & The Sky Residences at W Aspen are owned by Northridge Capital of Washington, DC, the owner for 16 years of the former Sky Hotel situated on the same site, and co-developed by Northridge and local partner Sarpa Development. “After more than five years of hard work,” commented Northridge’s owner and president Dave Jackson, “we are thrilled to finally be opening the W Aspen for the enjoyment of its guests and the local community, and grateful to our partners at W Hotels, Haselden Construction, and too many other team members to name for their tireless efforts to reach this goal.”

Sky’s The Limit

W Aspen brings a luxurious, playful style to the historically-rich town of Aspen. Designed by global interior design firm NEMAWORKSHOP and Aspen-based architects Rowland + Broughton, alongside the W Brand’s award-winning design team, W Aspen centers on the natural beauty and bounty of the mountains and the historical context of the city it surrounds.

It begins with the exterior: a modern mountain chalet with long, sloping roof lines that draw inspiration from the Rocky Mountain landscape. The essence of the outdoors continues throughout the interior, where the Welcome Desk wood formations echo the Rocky Mountains and intricately-detailed terrariums represent seasonal Aspen activities from hiking and biking to skiing and snowboarding.

On the second floor is The Living Room, which serves as the central point of the Escape experience and showcases a grid-pattern display on the bar - a nod to traditional millwork structures used to create mine tunnels in Aspen during the silver boom. Seating in The Living Room features brass and polished rods that surround plush, velvety cushions synonymous with Aspen’s bohemian counterculture of the early ’70s. Along the side, stadium seating leads to an iconic suspended DJ booth that takes its cue from the largest silver nugget discovered in Aspen at the turn of the century. Continuing to honor Aspen’s role in the Colorado Silver Boom, light fixtures are informed by the look of a miner’s headlamp and floors are swept with curving patterns that echo the soil found at the bottom of a smuggler’s cove. At sundown, The Living Room’s outdoor fire pit acts as a beacon at the base of the mountain - signaling to the skiers above it is time to après.

Art reminiscent of iconic Americana paintings of the Rocky Mountains layer the walls of W Aspen. Commissioned artists impart a more modern vision through the lens of classic landscape paintings like those done by Albert Bierstad and other greats. Longtime W collaborator Gaia showcases a series of works throughout the Escape that tease an infatuation with American landscape paintings but are superimposed with local millennial fragmented culture spirit guides - adding a contemporary veil to the traditional. Accent pillows in the Living Room and guestrooms are inspired by artists Herbert Bayer and Thomas Benton and pay homage to the historical residents of Durant Street, named the ‘Soiled Doves of Durant’.

Cozy Up

W Aspen features 88 guestrooms and 11 W-branded residences, along with four WOW suites and one Extreme WOW suite that can be a one, two or three bedroom, all of which offer modern takes on Ute patterns and furniture inspired by the decadence of ‘70s Aspen “pleasure palaces.” All guestrooms and suites are playfully marked with room plates in a style reminiscent of the pop culture icon Bob Ross, while interiors reference the cozy warmth of Swiss chalet architecture through the use of rustic wood finishes, sloped rooflines and a fireplace-inspired W MixBar. Each guestroom features pit and platform lounge seating that nods to the plasticity of mile-high bohemia and is complete with Ute-inspired accent pillows. Selected rooms feature a W design first, quad-queen bunk beds, which can sleep up to eight to cater to a younger adult clientele, as well as offer a wink to the more hedonistic qualities of Aspen’s past.

The 2-bedroom Extreme WOW Suite is inspired by Aspen’s mountain culture and is the quintessential location to play and stay. The suite features modern industrial touches, rich ski-wear fabrics, a central fire pit surrounded by curved pit seating, a hot tub open to the living area, a crystal and glass barrier embracing a circular bed on a pivoting platform, and a DJ booth with a mini LP vinyl player and curated music library - all playing on vintage luxury. The plush reds, blues and oranges in addition to psychedelic detailing add extra electricity to this warm mountain escape.

Sky High

Whether one needs to cool down after a summer day of biking the trails or warm up for après-ski cocktails, the place to see and be seen is the WET® Deck, Aspen’s only year-round, all-weather, public rooftop. With jaw-dropping, panoramic mountain views, a heated pool, hot tub, fire pits, cabanas, full bar, dance floor and DJ booth, the WET Deck is poised to redefine Aspen’s social scene. Guests can enjoy signature beverages from the center bar, which features a ceiling of abstract crystal sculptures that mimic upside-down mountain peaks.

39 Degrees, a legendary après ski bar in the former Sky Hotel, returns as an underground ultra-lounge cocktail bar and grotto inspired by the famed Red-Light District of Aspen. Outfitted with platform and pit seating, crushed velvet touches, cheeky Gonzo-style posters and pillows and a W-commissioned, Gabriel Alcala mural that portrays an Aspen landscape through the lens of ‘excess,’ this hidden spot will keep the energy going late into the night. The menu is a canvas, painting each taste bud with the flavors of sweet, sour, bitter and salt. Highlights include sweet bites like Crab Dip with duck sauce, sour bites such as Grilled Yuzu and Mirin Tiger Prawns, and salt and vinegar dusted Chicken Wings with jalapeno are all designed to play perfectly with 39 Degrees libations. Cocktails include timeless favorites like a W Sazerac or Sherry Cobbler as well as new/next drinks like a Spiked Cucumber Splash with grapefruit and rose vodka or a shareable cocktail like the Hidden Treasure, made with Montanva Oro, Aperol, mango, orange, and pineapple.

From November through April, W Aspen’s Strategy Rooms serve as the hotel’s Ski & Snowboard shop which will be operated by Four Mountain Sports. The shop will rent and sell the hotel’s first edition series of snowboards, which were designed in partnership with Aspen’s own High Society Freeride and created by Denver-based Never Summer. Inspired by the historical, cultural and social aspects of the town, only 40 boards were made - 20 for women and 20 for men - and are available exclusively at the hotel. From May through October, each 350 square feet Strategy Room sets the stage for the hotel’s art, fashion and music programming as well as private events and intimate, mountainside weddings.

“The buzz and excitement for the debut of W Aspen has been building for some time and we could not be readier to bring the infectious energy, spirit and programming of W to this iconic American town,” says Greg Durrer, General Manager, W Aspen. “We know that W Aspen will not only serve as a year-round destination for travelers but that it will bring a bold new point of view to the local social scene and become the latest player in the legacy of this incredible cultural mecca.”

The Sky Residences Living

The Sky Residences at W Aspen offer an exclusive shared ownership opportunity with 11 W-branded Residences located slope-side on Aspen Mountain. With a limited collection of only six three-bedroom and five two-bedroom Residences, owners have access to a private, owners-only roof deck with a spa, lounge seating, BBQ grills, outdoor kitchen and fire pit. In addition, owners can enjoy all of the Escape’s amenities and services at W Aspen, including Welcome Ambassadors and round the clock security; in-residence dining and STYLE housekeeping services; WHEELS valet service; FIT® state-of-art fitness facilities; two WET® Deck pools; and W’s signature Whatever/Whenever® service promise, providing residents and hotel guests alike with whatever they want, whenever they want it! The Sky Residences at W Aspen are currently offered for sale by Forte Aspen. “The Sky Residences at W Aspen feature compelling statements of space and design that defy expectations,” said R.J. Gallagher, Jr. of Forte Aspen. “It’s where an owner can get away from it all, while having it all. Effortless ownership, where quality time with family and friends is the only order of the day. And night.”

Check in

To celebrate W’s debut of its first North American Mountain Escape, W Aspen is offering travelers a special opening package available for stays between September 4 – December 15, 2019. The package includes a two-night minimum stay, $100 B&F credit, complimentary valet parking, 4pm late check out based on availability, and two signature welcome cocktails. Rates available upon request and dependent on time of year.

Visit www.waspenhotel.com or get social with W Aspen on Instagram @WAspenHotel #SkyHigh. For information on The Sky Residences at W Aspen, visit www.waspenskyresidences.com.

Article of Interest: Charlotte Office

A Surge on the West Side

New development and adaptive-reuse renovations are reshaping the area as opportunity zone designations promise more change

In 2011, Insite Properties purchased and moved its offices to the Grinnell Water Works building, a historic warehouse off West Morehead Street that was redeveloped into office space.

The Charlotte-based firm saw it as an opportunity to gain a foothold in an emerging submarket.

“There were always people calling, wanting space,” said Bart Murr, principal at Insite. “We would always say, ‘If this building was twice as big, it’d be full.’”

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Three years after selling the Grinnell Water Works building to a Washington, D.C.-based asset manager, Insite has delivered on an even bigger investment in the neighborhood — a 107,000-square-foot office building, The Refinery, at 1213 W. Morehead St.

The building, developed with Northridge Capital, is already 65% leased just weeks after opening.

It’s the first new office building started without an anchor tenant on the west side in years. The Refinery is part of a surge in development in the area around West Morehead Street and Freedom Drive.

The bulk of the commercial space in the corridor had long been dominated by warehouses, many of them abandoned or occupied by small industrial groups. Those warehouses are being acquired and redeveloped into unique office spaces that appeal to companies targeting younger workers who want an urban environment. Shops and restaurants are also filling the renovated spaces, quickly remaking an area that for years has grappled with blight.

As rental rates and land prices rise in areas like South End, just a few miles from the intersection of Freedom Drive and West Morehead Street, companies are looking to west Charlotte for a cheaper alternative. And additional incentive is also suddenly developing: much of west Charlotte is in an opportunity zone, a federal tax incentive that applies to low-income census tracts certified by the U.S. government. The program was introduced as part of the 2017 federal tax law overhaul.

Browder Group Real Estate was buying property in the area long before opportunity zones were in play or anyone used the term “FreeMoreWest” to describe the corridor. For Matt Browder, owner of Browder Group, it made sense that investment would flow there eventually.

“If you put a 1 mile or 1.5-mile ring around uptown, it’s got to go there,” Browder said.

The firm’s strategy was to purchase properties while they were still affordable, then find tenants who were looking to make a move. The goal initially was to bring in businesses that would be a magnet for more traffic.

“We were getting a lot of tenants from over in the South End area who were seeing rents go from $15 to $35 a foot,” said Brandon Brown of Browder Group.

What started out with Rhino Market & Deli and a small development where Dunkin’ Donuts operates has evolved into 250,000 square feet of owned space across 10 buildings on West Morehead Street, Freedom Drive and Thrift Road. About 200,000 square feet of that space is leased.

Hygge Coworking, in partnership with Not Just Coffee, took the entire building at 1026 Jay Street, its largest location to date. Browder’s adaptive-reuse properties on the west side also include the area’s first breweries, like Town Brewing, which opened a year ago, and the upcoming Traust Brewing, expected to open this fall on Thrift Road. Browder is also landlord to Jim Noble’s newly opened barbecue restaurant, Noble Smoke.

Browder said Thrift Road rents have seen more significant increases because of its potential to become a walkable, urban street versus an auto-centric corridor like Freedom Drive.

Charlotte-based White Point Partners, known for its adaptive-reuse portfolio throughout the city, is preparing its latest project, Salt + Vinegar, which will bring 74,000 square feet of office and retail space to West Morehead Street. Already, Legion Brewing has signed on as the anchor tenant, expected to occupy 20,000 square feet at the former Mitchum Quality Snacks building by next fall.

Erik Johnson, co-founder at White Point, said previously that having a converted building with complementary day and nighttime uses — office space and a brewery, for example — and ample parking have been some of the key criteria for the firm’s acquisition and redevelopment strategy. The firm has seen success with other deals in emerging submarkets, such as Optimist Hall in Optimist Park and Bowers, a former fiber-processing operation in lower South End.

A notable office lease deal for the west side came this spring, when Wray Ward, Charlotte’s largest advertising agency, said it would occupy 38,000 square feet for its headquarters at a partial adaptive-reuse, partial new construction project on Thrift Road. And at The Refinery, national coworking group Serendipity Labs signed on to take the entire top floor of the building for its first Charlotte office, complete with building signage facing Interstate 77.

Trey Scott, owner of Charlotte’s Serendipity Labs, said the coworking group ultimately landed on The Refinery because of the neighborhood it’s within, particularly its proximity to local retail.

“We’ve tried to get ingrained in (the) area, which seems to have more of an identity and growth curve pattern to it versus just trying to pick a location in a hotspot,” Scott said.

Wray Ward, which will bring 105 employees to west Charlotte when it moves from midtown to 2317 Thrift Road next summer, was another big bet on the area.

John Christenbury, managing director of tenant representation at Cushman & Wakefield who worked with Wray Ward on its headquarters search, said the building’s location relative to new breweries and restaurants was attractive to Wray Ward. It also, like many companies, sought to find unique real estate for its office buildout.

“There are good bones over there for office space,” Christenbury said. “It’s starting to turn into this pocket of office user and retail ... if a tenant is looking for adaptive reuse in Charlotte and they don’t want to spend the South End prices and want the amenities, that’s the place to go.”

With the adaptive-reuse trend not going away anytime soon in Charlotte, it seems likely the area will continue to see investment.

Other lease and acquisition deals are reportedly still in the works, with properties like the Custom Polymers building on Tuckaseegee Road being eyed by investment groups.

“There are so many big players snooping around on stuff,” Brown said. “We’re going to start to see multifamily come in and continued growth until you hit a recession.”

Article of Interest: Houston Office

Arroyo Energy Investors is moving from The Woodlands to fourth floor of CityPlace 1.

Arroyo Energy Investors is moving from The Woodlands to fourth floor of CityPlace 1.

SPRING, TX—The first office lease at CityPlace 1 at Springwoods Village has been inked with Arroyo Energy Investors, according to a joint venture among Patrinely Group, USAA Real Estate and CDC Houston. Located at 1700 City Plaza Dr., CityPlace 1 is the first multi-tenant office building constructed in CityPlace at Springwoods Village, and totals 149,500 square feet.

Arroyo Energy Investors is moving from its office in The Woodlands and will occupy 9,426 square feet on the fourth floor of CityPlace 1, which will include 122,500 square feet of office space and 27,000 square feet of ground-floor retail space.

In the Media: Office

New HP Inc. campus north of Houston trades hands

Jeff Hollinden and Trent Agnew of HFF listed the property for sale. The purchase price was not disclosed.

The property includes two buildings at 10300 and 10400 Energy Drive in Springwoods Village, a 2,000-acre master-planned community north of Houston. One building consists of 233,516 rentable square feet across four floors, while the other has 144,886 rentable square feet on five floors. Features include a full-service café and fitness center, structured parking and modern interior finishes with exposed ceilings, per the release. The property is powered by 100 percent renewable energy and is expected to receive LEED certification.

California-based HP Inc. occupies 100 percent of the 378,401 total rentable square feet under a long-term lease. The company moved its 2,400 Houston employees to the campus at the end of 2018.

“HP Inc. was the largest office lease inked for 2016 in Houston,” Robert Fields, president and CEO of Patrinely Group, said in the April 9 release. “This transaction reinforces the strength of this new urban center in north Houston.”

Just before HP Plaza was completed, California-based Hewlett Packard Enterprise (NYSE: HPE) preleased 568,000 square feet for its new campus, also in CityPlace. The former Hewlett-Packard Co. officially split into Hewlett Packard Enterprise and HP Inc. in November 2015, but they still both had operations at the former Compaq campus in Houston.

Both HP Plaza and the HPE lease are finalists in the Houston Business Journal's 2019 Landmark Awards, which will be held April 11 from 6 to 9 p.m. at the Marriott Marquis.

In the Media: Hospitality / Residential

The Sky Residences at W Aspen are redefining slope-side luxury

The highly anticipated W Aspen opens this summer

By Lauren Glendenning

Mountain deluxe architecture and decor, rooftop amenities with some of the best views in Aspen, and urban-chic vibes thanks to the iconic W Hotels brand — The Sky Residences at W Aspen are transforming the town’s luxury shared ownership market. The Sky Residences at W Aspen, a limited collection of only six three-bedroom and five two-bedroom W-branded Residences, are debuting this summer. The Sky Residences are offered for sale as a 1/10th shared ownership interest in real estate. As the property at the base of Aspen Mountain has taken its new shape after the Sky Hotel’s demolition in 2017, it’s clear that what was once one of Aspen’s most exciting and hip gathering spots is not only going to carry on that tradition, it’s going to exceed it. “The Sky Residences at W Aspen feature compelling statements of space and design that defy expectations,” said R.J. Gallagher, Jr. of Forte Aspen: Residential Marketing & Sales. “It’s where an Owner can get away from it all, while having it all. Effortless ownership, where quality time with family and friends is the only order of the day. And night.”

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Built for Aspen

Located on the third and fourth floors of W Aspen, The Sky Residences are modern and luxurious, with many energy-efficient building and lifestyle features fit for this environmentally-conscious town. “W Hotels Worldwide is a really unique brand in the sense that no two properties are the same,” said Owner and Co-Developer David Jackson of Northridge Capital. “W Hotels starts with the local community and comes up with a design narrative that fits in with that community.” In Aspen, reflections and echoes of Aspen’s past, as well as its current environment, will be visible throughout the property. Patterns in carpets will feature Ute Indian tribal designs, while artwork and other interior decor will incorporate some of the go-go days and Aspen’s jetsetters, as well as silver mining relics. “As you walk around, you’ll recognize so many details unique to Aspen and its history,” he said. Well known street artists are completing artwork on the walls at several highly visible locations throughout the property. The staircase on the north end of the property is the site of a street art installation expanding from the basement level all the way to the rooftop. “This art is going to be incredible. I predict people will want to travel to Aspen just to see it,” said Jackson. With architecture by Aspen firm Rowland + Broughton, local expertise from Sarpa Development, and Northridge Capital’s experience as owner of the Sky Hotel for 16 years, this is a team that knows Aspen. The result is a property that fits in with the town both architecturally and culturally. “Our incredibly beautiful views of the majestic mountains and our historic town are open for everyone to enjoy. When combined with the excitement and fun the W Aspen team will bring to the property, Aspen will once again set the bar as no other place can,” expressed Co-Developer John Sarpa.

Owning a Piece of Aspen

From a dedicated residential staff to the perks of Whatever/Whenever® Concierge services, The Sky Residences at W Aspen Owners can enjoy a carefree lifestyle where everything is taken care of. Amenities include 24-hour front desk services, housekeeping, a state-of-the-art fitness facility, below-grade parking garage, room service, and more. Jackson and Sarpa point out that the W Aspen staff will make Owners feel like celebrities around the clock. W Hotels is known for impeccable service combined with an unsurpassed ability to quench guests’ lust for life. The Sky Residences at W Aspen are a place where Owners can begin new family traditions and create lasting memories. “This shared ownership opportunity offers a unique combination of the hip W brand and the prime Aspen location,” said Gallagher. “All of these amenities right at Owners’ fingertips — in one of the greatest locations, in one of the most desirable towns, in the world.” Public amenities include an underground late-night speakeasy — named 39 Degrees as an homage to the Sky Hotel — a rooftop bar with hot tub, cabanas, and spectacular views of Aspen Mountain from one of the highest points in town. Owners have access to all W Aspen amenities, plus Owners-only perks such as an exclusive rooftop, the private Owners’ deck on the 4th floor, with a fire pit, hot tub, and BBQs. “If Owners want to be part of the scene, it’s there and accessible to them. If they want to escape from it, they can retreat to the Owners’ deck,” Jackson said. “This is a very special property in terms of its rare and prominent location and its colorful history with the community of Aspen and its visitors. As the owners, developers, and stewards of W Aspen, we understand its significance as a resort asset and the role it plays in keeping Aspen a desirable, must-do tourism hot spot. But most of all, we are proud to carry on the Sky Hotel legacy as a neighborhood gathering place and the heartbeat of Aspen.”

The Sky Residences Amenities

  • Private, Owners-only 4th floor roof deck with spa, lounge seating, BBQ grill, outdoor kitchen, and fire pit

  • Spacious floor plans are strikingly furnished with open, gourmet kitchens, distinctive appointments, and impeccable detailing, and include expansive balconies, increasing the livable floor area for each Residence

  • All the Residences are in prime locations within the building, featuring expansive views of Aspen Mountain, Independence Pass, Red Mountain, or downtown Aspen

  • Owner amenities entitle Owners to enjoy the convenience and exceptional experience of living at a fine resort property

  • On-property ski locker room

  • On-site ski/snowboard shop with daily and weekly equipment rentals and demos available