Castle Rock plans downtown revitalization with boutique hotel and rooftop bar

In a recent meeting on January 7, 2025, the Castle Rock Town Council discussed a significant redevelopment project aimed at revitalizing the downtown area. The proposal, presented by the Downtown Development Authority (DDA), focuses on introducing two new dining establishments and a boutique hotel, which are seen as essential components for enhancing the town's economic vitality.

The DDA emphasized that adding dining options is crucial for attracting both residents and visitors to downtown Castle Rock. Research indicates that consumers often choose where to spend their disposable income based on the availability of dining options, which subsequently influences their shopping and entertainment choices. This project aims to capitalize on that trend, potentially transforming downtown into a more vibrant hub.

Community feedback has highlighted a desire for unique dining experiences, including the long-sought rooftop bar. The proposed boutique hotel is also expected to fill a gap in the market for high-end accommodations, particularly for visitors attending events at the numerous wedding venues in Douglas County. Currently, many guests opt for hotels outside Castle Rock due to a lack of luxury options.

The redevelopment agreement includes several key terms to ensure the project's success and minimize risk for the town. The hotel developer must first complete the construction and obtain a temporary certificate of occupancy before receiving any financial incentives. The DDA will share 50% of the new sales tax generated by the project for up to ten years, capped at $1 million. Additionally, a $750,000 low-interest loan from the downtown special fund will support the project, which is specifically designated for reinvestment in the downtown area.

The agreement also mandates that the hotel provide valet parking and cover leasing costs for additional parking spaces, addressing potential traffic concerns. The timeline for the project includes obtaining a building permit by August 31, 2025, and a certificate of occupancy by June 30, 2027.

This redevelopment initiative reflects the town's commitment to enhancing its downtown area through community-driven projects. As discussions continue, the council will consider the implications of this project on local economic growth and community satisfaction. The next steps will involve further evaluations and potential approvals from the council, ensuring that the project aligns with the community's vision for the future of Castle Rock.