480 Flatiron Blvd - Hotel Conversion to Apartment Complex (Towneplace Suites)

Project Summary

This project was approved by Council on February 24, 2026, and allows for the conversion of an existing 151-unit hotel into a 150-unit apartment complex. The 2.98-acre site contains two long-term stay hotel buildings with surface parking, sidewalks, and landscaping. The proposed apartment complex conversion would include income-aligned housing units at the following for-rent rates: 20% (or 30 units) at 60% AMI and 80% (or 120) of the units at for-rent market rates. An administrative modification to the site development plan that captures changes to upgrade the site was approved in May 2026.

Project Details

Property owner and Applicant: Denver BF Property LLC and Three Wall Capital
Location: 480 Flatiron Boulevard - Towneplace Suites
Project Type: Midicites Planned Unit Development Plan text amendment (10th)

City and County Staff Analysis

Zoning, Surrounding Uses, and Comprehensive Plan: The property is zoned planned unit development (PUD) It is subject to the Midcities PUD Plan. The surrounding uses include an apartment complex to the east, a hotel to the north, and across the street, an apartment complex to the south, and vacant land to the west.

The Comprehensive Plan designation is "Mixed Use Commercial."

Site Circulation, Parking, and Multimodal Access: The site is accessed via Flatiron Boulevard through a full movement shared drive with the apartment complex to the west. An internal drive circulates through the south and west sides of the lot for access to parking.

Density, Unit Type and Income-Aligned Housing: The applicant's project narrative indicates that the existing hotel's 151 units will be converted to 150 apartment units. The overall dwelling unit per acre is 51 du/ac. The applicant's project narrative indicates that the 151 hotel units will be converted to 112 studios, 8 one-bedrooms, and 30 two-bedrooms. The for-rent units will include income-aligned housing at 20% of the units at 60% AMI and 80% of the units at for-rent market rates. This meets the minimum on-site income-aligned housing requirements that are outlined in the Broomfield Municipal Code, Chapter 17-76.

Landscaping, Open Lands, Parks, and Trail Amenities: Existing landscaping includes trees, cool-season turf grass, shrubs, and ornamental grasses. Existing trails provide connections to bus stops and sidewalks along Interlocken Loop.

Public Land Dedication: Since this property is improved with two hotel buildings, parking, landscaping, and an outdoor pool, there is not enough suitable acreage on the existing site to allow for additional land to be dedicated for public use. The applicant proposes to meet the public land dedication requirements through cash in lieu.

Deviation: A deviation to the minimum open area requirement of 40% for residential development may be required.

Possible Key Issues:

• Negative impact on the financial plan with a decrease in business sales tax
• Converting water and sewer lines from commercial to residential

Public Summary

The public engagement process included comments from residents who asked questions and provided comments regarding the proposal.