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 $107.5 million construction loan for Waldorf Astoria Residences Denver Cherry Creek; 37 luxury condos mark brand debut in Colorado
A national developer has closed a major construction loan to build a boutique collection of luxury condominiums in Denver’s Cherry Creek neighborhood. PMG secured a $107.5 million construction loan from Maxim Capital Group to fund the Waldorf Astoria Residences Denver Cherry Creek, a 37‑unit condominium project that will bring the Waldorf Astoria residential brand to Colorado for the first time.
Financing and transaction team
The financing was provided by Maxim Capital Group and handled internally by PMG’s capital markets group. PMG’s capital markets effort was led by a three‑person team and supported by in‑house counsel for the transaction. External transactional and land‑use counsels also assisted. Maxim was represented by outside transactional counsel. Sales leadership for the project is being led locally by a senior broker with Kentwood Real Estate.
Project scope, units and market positioning
The development is positioned as a boutique, fully finished luxury residence collection with a total of 37 residences. The offering is marketed with mountain and downtown views, curated interior finishes and a range of unit sizes. Multiple public materials describe the collection as a landmark residential addition to Cherry Creek North, an affluent dining and retail district outside downtown Denver.
Design and interiors
Concept design for the property is led by a Denver‑based architecture firm in collaboration with a noted international architect. Interiors are by an award‑winning design firm. Interior features listed in project materials include custom gourmet Boffi kitchens, fully integrated Sub‑Zero and Wolf appliance packages, custom built‑out closets, Italian bathroom vanities with stone tops and Waterworks fixtures, curated flooring selections, contemporary lighting packages and smart home capabilities. A majority of residences are described as having semi‑private elevators and private balconies.
Amenities and management
Planned amenities reflect full‑service branded living and include a Peacock Alley‑inspired lounge, an on‑site signature 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 an impressive porte‑cochere drop‑off, and dedicated electric vehicle charging stations. Amenity operations and resident service are slated to be managed by Hilton Management Services to align with the Waldorf Astoria brand’s service model.
Sales, timing and pricing notes
PMG reports strong presales and limited inventory remaining, with sales activity described as showing strong momentum. Public materials contain differing figures for pricing and unit sizes across releases: starting price points are variously reported at $1.2 million, $1.5 million, and an updated figure listed at $2.3 million. Unit size ranges are reported inconsistently, with one description listing a range from 690 to 3,879 square feet and another listing 1,350 to 4,320 square feet. Expected completion timing also varies in public materials, with some sources stating a three‑year timeline and other materials indicating a target completion year of 2027. These varying figures reflect multiple overlapping press materials and updates released as the project advanced to the sales phase.
Site, sales gallery and appointments
The project site is listed at 185 North Steele Street in Cherry Creek. A sales gallery has opened at 215 St. Paul Street, Suite 130 in Denver, with tours available by appointment.
Developer background
PMG is a national developer with more than three decades of experience in luxury residential development and a multi‑state pipeline. The firm operates a vertically integrated platform covering acquisitions, design, construction, capital markets, sales and in‑house legal and accounting capabilities. The company’s prior branded projects include several high‑profile luxury residential developments across the U.S., including other collaborations with Hilton on branded residences.
Why this matters
The deal brings a global luxury hotel and residences brand into a high‑end Denver neighborhood and signals continued developer confidence in amenity‑rich, branded condominium products in premium urban neighborhoods. The size of the construction loan and the strong presales cited in project materials suggest lender and market support for a limited collection of high‑end residences with hotel‑style services and amenities.
FAQ
What is the total construction financing for the project?
The project received a $107.5 million construction loan from Maxim Capital Group.
How many residences will the project include?
The development is planned as a collection of 37 luxury residences.
When is the project expected to be completed?
Public materials show varying timelines; some materials note a three‑year build timeline while other sources indicate a target completion year of 2027.
What are the starting prices for units?
Published starting prices vary by release. Materials list starting points of $1.2 million and $1.5 million, and one update lists a starting price at $2.3 million. Interested buyers should verify current pricing with the sales gallery.
Where is the sales gallery and how can I see a model?
The sales gallery is at 215 St. Paul Street, Suite 130, Denver, CO 80206. Tours are available by appointment.
Who will manage amenities and resident services?
Hilton Management Services is planned to professionally manage the property’s amenities and resident services.
Key project features
| Feature | Details |
|---|---|
| Construction financing | $107.5 million from Maxim Capital Group |
| Developer | PMG (national developer with 30+ years of luxury experience) |
| Brand | Waldorf Astoria residential debut in Colorado |
| Units | 37 luxury residences |
| Reported unit sizes | Public materials list ranges of 690–3,879 sq ft and 1,350–4,320 sq ft |
| Reported starting prices | Materials show $1.2M, $1.5M, and an updated $2.3M starting price |
| Design & interiors | Local architecture collaboration with an internationally known architect; interiors by award‑winning firm; custom Boffi kitchens; Sub‑Zero/Wolf appliances; Waterworks fixtures |
| Amenities | Peacock Alley lounge, signature restaurant, rooftop pool, wellness center, fitness studio, EV charging, porte‑cochere |
| Management | Hilton Management Services to operate amenities and service |
| Sales gallery | 215 St. Paul Street, Suite 130, Denver, CO 80206 — tours by appointment |
| Project address | 185 North Steele Street, Cherry Creek, Denver |
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 CA News
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