DENVER — Arapahoe Square is about to get some bunk beds.
The owners of Native Hostel, a “super high-end” hostel in Austin, Texas, have purchased a 130-year-old building in Denver as they look to expand around the country.
“We’re trying to find markets that have expensive hotel rooms … and places millennials like to hang,” co-owner Will Steakley told BusinessDen.
Acting as NTV Holdings LLC, Steakley and his partners paid $2.6 million last month for the three-story, 11,056-square-foot building at 2235 Arapahoe St. in Denver, which dates to 1889. The deal also included the small parking lot next to the structure.
The site is zoned for more than 20 stories, but Steakley said he’s only planning to build about 10,000 square feet on the parking lot.