COLORADO SPRINGS — City planners are reviewing a proposal to transform the Antlers Hotel into apartments. The application is in the preliminary stages, but City officials are interested in how the project could diversify housing options in Downtown Colorado Springs.

Built nearly 140 years ago, the historic Antlers Hotel sits in the heart of Colorado Springs. The hotel was destroyed by fire, rebuilt in the 1960s, and may now change again.

“If it goes forward, this is going to be its most current iteration,” Bob Cope with the Colorado Springs Economic Development said.

Blueprint Investment, a Thornton-based development company submitted the proposal to convert the 273-room hotel into 166 apartments. Cope, an Economic Development Officer, thinks the project could be the solution to providing more affordable housing.

“Even though these are expensive to build and the rents are fairly high, the more you add to the supply the more downward pressure you put on rents,” Cope explains.

The change would also bring a new name, the XO Lofts @ Antlers. According to the application, much of the hotel’s existing feel and finishes would stay, but it would bring a new concept to the main lobby and all public spaces.

“It is early in the process,” said Ryan Tefertiller with Colorado Springs Urban Planning and Development. “Over the next few weeks city agencies will review the application, we will be issuing a review letter roughly four weeks after the submittal was made.”

Colorado Springs Planning and Development department is constantly working with investors that are looking to intensify downtown.

“To create a high-density downtown that is vibrant and provides destinations, entertainment, and dining options for our entire city,” Tefertiller explains.

Colorado Springs has seen lots of new apartments and upgrades to existing businesses in recent years, “And it’s really, really exciting,” Tefertiller said, but more input is needed to see any change to the Antlers Hotel.

City Planners will look at all the facts and are open to community feedback.