A long-awaited effort to restore Denver’s historic Rossonian Hotel took a significant step forward in May as the Denver City Council advanced a tax increment financing (TIF) package that could provide up to $15.5 million in public financing support for the project. The proposed agreement between the City and County of Denver and the Denver Urban Renewal Authority (DURA) would help fund the redevelopment of the iconic Five Points property and surrounding parcels through future property and sales tax revenue generated by the project.
Located at the intersection of Welton Street and Washington Street, the Rossonian Hotel has long been regarded as one of Denver’s most significant cultural landmarks. Originally constructed in 1912, the building served as a centerpiece of Five Points’ vibrant jazz scene and welcomed legendary performers including Louis Armstrong, Duke Ellington and Ella Fitzgerald during its heyday. The property was listed on the National Register of Historic Places in 1995 and remains a contributing structure within the Five Points Historic Cultural District.
This creative and ambitious effort—led by Palisade Partners, Rossonian Development Authority, Craine Architecture, Milender White, Semple Brown, CoralTree Hospitality, along with community advocates and passionate investors—is a catalyst for cultural and economic revitalization in the Five Points neighborhood.
The redevelopment includes a comprehensive restoration of the historic Rossonian building alongside new hotel accommodations, event space, food and beverage offerings, retail space and community-focused uses. Plans call for approximately 126 hotel rooms across the Rossoniacn building, adjacent new construction and portions of the existing Hooper Building. The restored Rossonian building is planned to feature 18 guest rooms along with approximately 4,800 square feet of restaurant space at street level. The adjacent annex would house 72 hotel rooms and a dedicated event space. An additional 36 hotel rooms and more than 6,000 square feet of ground-floor retail space are planned for the Hooper.
According to project documents presented to Denver City Council and the Planning Board, the overall development carries an estimated cost of approximately $101 million. DURA concluded that public assistance is necessary to address financing gaps associated with the preservation of the historic structure and the broader mixed-use redevelopment effort. Under the proposed TIF arrangement, the developer would fund the majority of project costs while being reimbursed over time through incremental tax revenues generated by the completed project.
The project is proposed as an amendment to the existing Welton Corridor Urban Redevelopment Area, where city officials have identified economic and physical conditions that qualify for urban renewal assistance. Planning documents note that the redevelopment aligns with several city objectives, including historic preservation, support for local businesses, economic development, job creation and reinvestment in one of Denver’s most historically significant neighborhoods.
If approved, the financing package would represent another major investment along the Welton Corridor and could help accelerate the long-anticipated reopening of the Rossonian. Current projections target a 2028 opening for the revitalized hotel and entertainment destination.
“The Rossonian is more than a redevelopment project,” city planning documents state. The effort aims to preserve an iconic piece of Denver history while creating new economic activity, hospitality offerings and cultural space in the heart of Five Points.
