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Houston developer to build an $824 million convention-hotel in Aurora, CO

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Aurora city officials are working hard to bring jobs into the city. A new 1,800-acre development project just south of the Denver International Airport (DIA) is expected to bring 1,200 construction jobs and 2,500 permanent jobs to Colorado. According to the Denver Post on May 9, 2013;

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Developer Rida Development Corp. of Houston and its financial partner, Area Property Partners [formerly Apollo Real Estate Advisors], will work with the city and Marriott International, owner of the Gaylord brand, to construct the $824 million convention-hotel property.

In 1972, Rita Development was founded by David Mitzer. The family-run corporation is now under the direction of President & CEO Ira Mitzer. Rida is very successful real estate developer in Germany, Russia and the Ukraine with over three million square feet of commercial real estate under management (source: www.ridadev.com).

In the United States, Rida Development has completed large projects like the Hilton in Orlando and the ChampionsGate® golf resort in Orlando.

The Denver Post described the enormity of the proposed convention-hotel in Aurora, CO;

Construction is expected to start in late 2014 or early 2015 within the 1,800-acre High Point development. An opening is targeted for 2017.

Discussions are underway with three contractors to build the property, which will rank as one of the largest convention hotels in the country outside of Las Vegas.

Aurora Mayor Steve Hogan compared the Gaylord convention-hotel with plans for a new National Western Stock Show complex, also near DIA, that were dropped recently;

"It brings new business. It is not recycling old business," he said (Denver Post).

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