Cherry Creek North, Denver, Colorado, August 19, 2025
News Summary
A national developer closed a $107.5 million construction loan from Maxim Capital Group to build 37 branded luxury residences in Cherry Creek North under the Waldorf Astoria banner — the first in Colorado. The boutique building will feature high-end finishes, mountain and downtown views, semi-private elevators in many units, private balconies, and extensive amenities including a Peacock Alley–style lounge, signature restaurant, rooftop resort pool, wellness center and EV charging. Hilton Management Services will operate amenity programming. Sales are underway from a Cherry Creek gallery with varying reported unit sizes and starting-price ranges and strong presales reported.
PMG secures $107.5M construction loan for Waldorf Astoria Residences Denver Cherry Creek
A national developer has closed a $107.5 million construction loan to build a boutique collection of 37 luxury condominiums in Cherry Creek North. The construction financing was provided by Maxim Capital Group and will fund the project branded as Waldorf Astoria Residences Denver Cherry Creek, marking the first Waldorf Astoria residences in Colorado.
Deal mechanics and team
The loan closing was led by the developer’s capital markets team. Internal legal counsel coordinated the transaction and additional outside counsel represented both parties. Sales for the project are being led by a local brokerage representative, and Maxim’s deal team included a partner who characterized the transaction as another collaboration with the developer. Hilton’s management affiliate will operate the property’s amenity program once complete.
Project scope and positioning
The development is described as a boutique condominium building with fully finished luxury residences. Units are designed to offer mountain and downtown views and come equipped with high-end kitchens, custom closets, curated flooring, Italian bathroom vanities with stone tops, Waterworks fixtures, Sub‑Zero and Wolf appliance packages, contemporary lighting, smart home features, and in many units semi‑private elevators and private balconies.
Design and interiors
Concept design is led by a Denver-based architecture firm in collaboration with an internationally known architect. Interiors are being developed by an award-winning design studio, which says finishes will draw on refined materials and dramatic accents inspired by the nearby snow-capped Rockies.
Amenities and management
Planned building amenities include a Peacock Alley-style lounge, a signature on-site restaurant, a rooftop resort-style pool with bar and lounge areas, a wellness center with massage services and saunas, a state-of-the-art fitness and movement studio, a curated lobby with porte‑cochère drop-off, and dedicated electric vehicle charging stations. Amenity operations will be professionally managed by Hilton Management Services to align with the brand’s hallmark service standards.
Sales, pricing and timeline
Sales are under way from a recently opened sales gallery in Cherry Creek, with tours available by appointment. Reporting on pricing and unit sizes varies across materials: unit size ranges are provided in two different sets (one set from about 690 to 3,879 square feet and another set from about 1,350 to 4,320 square feet). Starting prices are also reported differently across releases and media summaries, with figures shown at $1.2 million, $1.5 million, and an updated starting price reported at $2.3 million. Completion timing is also described variably: some materials state the property is expected to open in about three years, while another update cites a 2027 completion target. The developer and lender point to strong presales and limited remaining inventory.
Developer and brand background
The developer is a national investment, development, and asset management firm with more than three decades of experience delivering high-end residential projects and branded residences across the U.S. The firm has previously developed significant branded residential towers and is expanding its portfolio in Colorado. The Waldorf Astoria brand is part of a large hospitality company with a global luxury residential portfolio; this Cherry Creek project is one of more than 30 branded residential properties that the brand has trading or in development.
Site and sales information
The project site is listed in planning materials at an address on North Steele Street in Cherry Creek. The sales gallery is open at a nearby St. Paul Street address by appointment. Interested buyers are directed to project marketing channels for more information and to schedule private tours.
Legal and advisory participants
Internal counsel overseeing the transaction included three named in-house lawyers; outside transactional and land use counsel supported the developer. The lender retained outside transactional counsel as well. The parties’ capital markets, sales, and design teams were all noted as active contributors to the project close and sales launch.
What remains unclear
Public materials and media summaries contain overlapping press statements and differing numerical details on unit sizes, exact starting prices, and the specific scheduled opening date. The developer reports strong presales and limited remaining inventory but multiple sources present slightly different pricing and timing numbers.
Frequently Asked Questions
What financing was secured for the project?
The developer closed a $107.5 million construction loan provided by Maxim Capital Group to fund the build-out of the Waldorf Astoria Residences Denver Cherry Creek.
How many residences will the building contain?
The project is planned to include 37 luxury residences.
When is the project expected to open?
Reported completion timing varies. Materials suggest an opening in roughly three years from launch; one update cites a 2027 completion target. Final timing may depend on permitting and construction schedule.
What are the price ranges for units?
Published materials list differing starting prices: marketing releases and media summaries show starting prices at $1.2 million, $1.5 million, and an updated figure at $2.3 million. Prospective buyers should contact the sales gallery for current pricing and availability.
Who is designing the building and interiors?
Concept design is led by a Denver-based architecture firm working with an internationally recognized architect. Interior design is by an award-winning firm known for refined, mountain-inspired palettes.
Who will manage building amenities?
Hilton Management Services will oversee the amenity operations and service standards for the property.
How can I see units or learn more?
The sales gallery in Cherry Creek is open for tours by appointment. Interested parties should contact the sales team to schedule a private visit.
Key project features at a glance
| Feature | Details |
|---|---|
| Loan amount | $107.5 million construction financing |
| Developer | National residential developer with branded-residence experience |
| Lender | Maxim Capital Group |
| Brand | Waldorf Astoria (first Waldorf Astoria residences in Colorado) |
| Units | 37 luxury residences |
| Unit sizes | Sources vary: approximately 690–3,879 sq ft or 1,350–4,320 sq ft |
| Starting prices | Reported ranges include $1.2M, $1.5M, and an updated $2.3M |
| Design | Local architecture firm with international collaborator; interiors by award-winning studio |
| Amenities | Peacock Alley-style lounge, signature restaurant, rooftop pool, wellness center, fitness studio, EV charging |
| Management | Hilton Management Services to run amenities and service program |
| Sales | Sales gallery open in Cherry Creek; tours by appointment; sales reported to have strong presales and limited inventory |
| Site | Listed site on North Steele Street in Cherry Creek North |
Deeper Dive: News & Info About This Topic
Additional Resources
- MileHighCRE: PMG secures $107.5M construction loan for Waldorf Astoria Residences Denver Cherry Creek
- Wikipedia: Waldorf Astoria Residences Denver Cherry Creek
- Commercial Observer: Maxim Capital Group $108M loan to PMG for Denver luxury residences
- Google Search: Waldorf Astoria Residences Denver Cherry Creek
- Hilton: PMG and Hilton announce Waldorf Astoria Residences in Colorado
- Google Scholar: Waldorf Astoria Residences Denver Cherry Creek
- The Denver Post: Waldorf Astoria Cherry Creek condos — first in Colorado
- Encyclopedia Britannica: Waldorf Astoria Residences Denver Cherry Creek
- Hotel News Resource: Waldorf Astoria Residences Denver Cherry Creek coverage
- Google News: Waldorf Astoria Residences Denver Cherry Creek
Author: Construction FL News
FLORIDA STAFF WRITER The FLORIDA STAFF WRITER represents the experienced team at constructionflnews.com, your go-to source for actionable local news and information in Florida and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Florida Build Expo, major infrastructure projects, and advancements in construction technology showcases. Our coverage extends to key organizations like the Associated Builders and Contractors of Florida and the Florida Home Builders Association, plus leading businesses in construction and legal services that power the local economy such as CMiC Global and Shutts & Bowen LLP. As part of the broader network, including constructioncanews.com, constructionnynews.com, and constructiontxnews.com, we provide comprehensive, credible insights into the dynamic construction landscape across multiple states.
