Tapville Social building sells for $6.5M, developers plan Ballpark hotel
Ballpark Businessman Purchases Iconic Building for Hotel Conversion
Jon Van Sistine, a local businessman in the Ballpark area, fell in love with the charm of 1010 Park Ave. at first sight.
After admiring the building daily on his commute, Van Sistine finally seized the opportunity to purchase the 12,200-square-foot, three-story property for $6.5 million from Open Studio Architecture, the firm that originally developed it in 2018.
With plans to transform the upper floors into a 16-room hotel while retaining Tapville Social’s first-floor bar, Van Sistine envisions a lucrative venture catering to group bookings for both corporate and leisure travelers.
The building’s layout lends itself well to the conversion, with the third floor offering ample space for development and modern utilities already in place. Van Sistine estimates a budget of around half a million dollars for interior enhancements, without the need for major structural modifications.
Operating under the name Hotel Residential, Van Sistine anticipates opening his new hotel, referred to as HR2, within the next year, following the success of his first location on Larimer St.
As Van Sistine prepares for the launch of HR2, Open Studio Architecture, the previous owners, are actively seeking a new space in areas like RiNo and LoHi for their operations.
With changes in ownership at Open Studio and a vision for adaptive reuse in their future office space, the transition from 1010 Park Ave. signifies a new chapter for both parties involved.
Reflecting on the transformation of the Park and Curtis intersection since their initial investment in 2016, Open Studio’s founder, Blake Mourer, acknowledges the challenges and growth experienced throughout the years.
As the neighborhood evolves and new opportunities arise, Van Sistine and Mourer look ahead to their respective ventures, shaping the landscape of Denver’s vibrant business community.
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