LEADVILLE, COLO. — Cloudland Capital and Blue Hour Housing have received $5 million in financing for Silver King Leadville, a workforce housing community in Leadville. William Haass of JLL Capital Market’s Debt Advisory team secured the five-year, fixed-rate loan through a Colorado-based credit union.
Located at 2020 N. Poplar St., Silver King offers 56 apartments. Formerly a 66-key hotel, the property was acquired in June 2024 and underwent a comprehensive renovation to convert the asset into a modern workforce housing community. The renovated property now features 47 studios, eight one-bedroom units and one two-bedroom unit, with an average size of 375 square feet. The renovation included adding kitchenettes to all units, installation and improvement of fire and life safety systems, upgrading common areas, building out communal laundry and gym facilities, adding storage lockers and enhancing outdoor spaces.
Silver King is master-leased to Climax Molybdenum Co., a subsidiary of Freeport-McMoRan, providing housing for Climax employees and residents of Colorado’s high-country. Six units have been reserved to Lake County, Colo., to allow employees of Lake County access to this workforce housing community.