GJ hotel owners may pursue fifth property
The owners of three downtown Grand Junction hotels who have committed to building a fourth hotel said this week they’ll erect a fifth property should voters sign off on a tax increase next month to build an event center.
Kevin and Steve Reimer have designs on a six-story, roughly 100-room hotel with a rooftop restaurant and bar that would be similar in size and scope to a Tru by Hilton hotel they intend to build on the south side of Colorado Avenue between Second and Third streets.
The brothers haven’t identified a hotel brand yet for the fifth hotel, but they are looking to potentially locate it on the southeast corner of Second Street and Ute Avenue where the Wells Fargo drive-thru bank formerly operated. They placed that parcel of land under contract earlier this year.
The Reimers have said it’s likely they’ll break ground on the Tru by Hilton hotel in the spring of 2018. Their plans for a fifth hotel hinge fully on whether city voters on April 4 approve a quarter-cent sales-tax increase that would pay for the construction of a 140,000-square-foot event center and improvements to Two Rivers Convention Center.
If the tax increase passes, they’ll close on the Wells Fargo property and look to build the hotel four to five years down the road. If the measure fails, they’ll pull the plug on the land buy.
Some critics of the event center have cast the facility as a money-maker for the Reimers. The brothers say the entire community stands to benefit from a potential event center, noting the construction and additional spending tied to the facility would generate tax revenue for several local government entities, many of which are struggling with their budgets.
They also note that the $8 million to $10 million they would spend to build each hotel represents a significant expenditure.
“There’s a good deal of risk for us to go out and invest $20 million in Grand Junction,” Steve Reimer said. “If the event center isn’t successful, we won’t be successful.”
Should the Reimers proceed with both hotels, the number of downtown rooms would double from roughly 200 to roughly 400. But they note that wouldn’t be nearly enough space to accommodate a crowd of potentially several thousand people attending a game or concert at the event center, pushing guests into other hotels across the city.