The state of Colorado is moving forward with its plans to purchase Estes Park landmark The Stanley Hotel and fund a substantial makeover of the property. During its October 2024 board meeting, the Colorado Educational and Cultural Facilities Authority approved issuing up to $475 million in bonds for the eventual purchase of the hotel. “Since then, RBC (RBC Capital Markets) has been working to finalize the financing structure and we expect to market the bonds beginning (this) year,” said Mark Heller, executive director of the agency, in an email to The Post last month. The proposed funding for the project is about $415 million, but the final price tag is still being evaluated. The bonds, which will be issued though a subsidiary called Space LLC, will help retire debt and acquire the existing Stanley properties, including all of the related land, the Hotel, the Aspire, the Concert Hall, the Carriage House, the Cryogenics Museum and everything related to the Stanley Hotel. The CECFA project will also help fund a $61 million addition to the hotel with 65 new guest rooms, along with a new covered entryway and lobby, and a new $66 million events center, which will be built near the existing Concert Hall and Carriage House. CECFA stepped up with a plan to buy the hotel after a deal to sell the Stanley to an Arizona nonprofit fell through. Since 1981 CECFA has issued over $7.5 billion in bonds, and its project list has grown to include museums, sports facilities, charter schools, alternative high schools and performance spaces, according to their website. The Stanley Film Center will be a two-story building, spanning more than 70,000 square feet, featuring events, exhibits and an archive dedicated to the history and culture of horror films. The film center will be designed by Denver firm MOA Architecture and include an auditorium with a 1,200-person capacity concert hall featuring 600 fixed seats. The center will also house an immersive film museum with both permanent and traveling exhibits, complemented by a 60-seat theater that can serve as part of the tour experience or offer a dedicated space for independent film screenings. Visitors can expect to see movie memorabilia, such as one of the fake axes used in Stanley Kubrick’s 1980 horror classic “The Shining,” as it was the film center’s first donation.

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  • Colorado agency approves $475M in bonds for purchase of The Stanley Hotel
    The state of Colorado is moving forward with its plans to purchase Estes Park landmark The Stanley Hotel and fund a substantial makeover of the property. During its October 2024 board meeting, the ...
    01/12/2025 - 11:00 pm | View Link
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