Ten New Projects To Convert Cherry Creek’s 16-Blocks Into Colorado’s Top Urban Community By The End Of Decade
by Glen Richardson
Changing Cherry Creek: Here’s what architects- developers are proposing for the former Sears store site at 2nd Ave. & Adams. Demolition is set to begin April 1. Completion is anticipated as soon as the third quarter of 2025.
The push to build new office, retail, and apartment projects in Cherry Creek North as 2024 gets underway is unlike anything the district has ever seen. Construction is set to experience its best year on record, with developers launching 10 projects as the new year begins.
The latest construction boom, moreover, mostly ignores the $1 billion Cherry Creek West mall project, though it is inching closer to reality along University Blvd. Construction at that site isn’t scheduled to start until at least the third quarter of 2024, with the first building not ready for occupancy until 2027. A gargantuan development, nonetheless, authorities say the project will create 50% of new Cherry Creek Valley jobs and 30% of new households through the year 2040.
This year’s construction ricochet will likely push the district into becoming the new epicenter of the Mile High City, as downtown continues to struggle. For several years now, companies have established offices or headquarters in Cherry Creek, increasingly solidifying the district as the Mile High City’s hub.
Mixed Use Move
As businesses add more space along the district’s 16 blocks, this much is clear: Once simply a shopper’s haven, developers are converting the neighborhood into a live, work, and play destination. Moreover, due to crime and homelessness issues downtown, more travelers are choosing to stay in Cherry Creek-Glendale hotels.
While more of a mixed-use district, the area nevertheless has developers once again adding retail space to the latest Cherry Creek projects.
The district’s thriving office market, as expected, remains one of the nation’s best. The latest construction trend suggests an increase rather than slackening in office demand.
Schnitzer Eight-Story
Swift Schnitzer Start: Expected to be completed by the third quarter of 2025, Schnitzer West, LLC, broke ground at 201 Fillmore on this eight-story building on Nov. 4, 2023.
Schnitzer West, LLC, broke ground back on Nov. 4, 2023, at 201 Fillmore on an eight-story building it expects to complete by the third quarter of next year (2025).
The building’s 130,000-sq.-ft. of office space on seven floors will house one of Colorado’s largest independent oil and gas firms. Antero Resources is currently headquartered near Union Station on Wynkoop St. The 8,600-sq.-ft. of ground floor retail space will feature a restaurant, plus another eatery is tentatively taking the rooftop terrace.
The development will have five levels of below-grade parking, with 250 spaces for office and retail use. There will be secure loading docks for tenant’s use.
Scraping Sears Site
One of the largest and definitely Cherry Creek’s longest anticipated, demolition of the Sears Building at 2nd Ave. & Adams is set to begin April 1. The site will be replaced with a blend of office and retail spaces in a five-story package. Like the 201 Fillmore project, completion is probable by the third quarter of 2025 albeit more likely by year’s end. The 90,000-sq.-ft. site will feature a mix of masonry, steel, and glass.
With the Crate & Barrel building, size of the parcel totals 9.4 acres. According to plans, the Crate & Barrel building will be demolished down to grade level, though the parking garage will remain. It will be replaced with a new five-story mixed-use residential-apartment building. BMC Investments CEO Matt Joblon is working with Crate & Barrel on relocation to a new temporary or permanent space, possibly within the site.
Broe Building Bulge
Broe Buildup: In addition to launching an eight-story office project on Clayton this month, Broe wants to demolish its 10-story 50 S. Steele St. office site and build this 12-story, 378-unit apartment building with ground floor retail.
Broe Real Estate Group — the multi-billion-dollar developer headquarters on Clayton St. in Cherry Creek — is beginning the second phase of its office redevelopment project by launching an eight-story, 175,000-sq.-ft. mixed use office project at 250 Clayton. Completion is anticipated in early 2026. Tenants will have access to floorplates as large as 27,000-sq.-ft. The site will also include retail space. Broe plans to later demolish the parking garage and building at 252 Clayton St., and build another seven-story office building there.
Broe has also asked to demolish the site of its 10-story office building at 50 S. Steele St. They seek to build a 12-story, 478-unit apartment complex with ground floor retail across from the eastern end of the Cherry Creek Shopping Center.
As 2023 closed, Broe purchased the 587-unit Seasons of Cherry Creek apartment complex on E. Ellsworth Ave. One of the largest real estate transactions in Cherry Creek history, Broe paid $225 million. The 480-unit complex is spread across three buildings on 5.2 acres.
Betwixt & Between
Plotting to build on every plot, Alpine Investments will erect a mixed-use office- retail building on a 0.57-acre site at 2645 E. 2nd Ave. between the Cherry Cricket and the Clayton Hotel & Members Club.
Development of the site will require the demolition of the one-story rear portion of the Cherry Cricket, where restrooms are located. The front of the restaurant building along E. 2nd Ave. will remain. The office building will include three levels of below-grade parking plus ground-floor retail space.
The two-story portion that currently houses Cherry Creek Tailoring & Alterations and cocktail bar Forget Me Not, however, will be bulldozed.
More From BMC
Major Housings: BMC Investments is building an eight-story major league apartment complex at Milwaukee and 3rd Ave. The structure will feature 30,000-sq.-ft. of ground floor retail.
In addition to the Sears building site, MBC Investments is breaking ground on two projects along Milwaukee Street as 2024 begins. One of Cherry Creek’s most active-successful developers, BMC is adding a seven-story mixed-use project at 242 Milwaukee St. It will feature 84,000-sq.-ft. of office space and 10,000-sq.-ft. of retail plus 202 parking spaces.
On the corner of 3rd Ave. and Milwaukee, an eight-story apartment structure is being erected. It will have 156 luxury units plus 30,000-sq.-ft. of ground floor retail. Being designed for those seeking a moderate-sized floorplan, units will average 885-sq.-ft. The site will include studios, junior one-bedrooms, and two-bedroom plus den units.
A rooftop pool, outdoor grilling area, fire pit, and dining area are planned. More: Sauna, co-working areas, meeting rooms, and bike repair shop are included. A resident lounge and parking garage will also be built.
A Pair On 2nd Ave.
Cricket Or Not: Alpine Investments is erecting this office-retail building on an 0.57-acre site between the Cherry Cricket and the Clayton Hotel & Members Club at 2647 E. 2nd Ave.
Residents have come to expect Cherry Creek to be in constant change. However, that hasn’t been the case for a trio of projects a block apart on the south side of 2nd Ave. For at least two — at 2nd and Steele and 2nd and St. Paul — construction is set to break ground. A lot directly east of the Cherry Creek Grill at 2nd and Adams has sat empty for two years. Owned by Bow River Capital’s Blair Richardson, it was first proposed as offices and later a five-story condo site. Construction remains unlikely.
Directly across Steele Street from the Grill, where Patxi’s Pizza closed a year ago and Bloom by Anuschka does business, a five-story, 37 condo development will be built. The $50-million project will have 3,532-sq.-ft. of ground-floor retail and 4,360-sq. ft. of restaurant space. There will also be a 75-space underground garage.
A block further west at 190 St. Paul St. —where Italian restaurant Piatti has sat empty since Christmas of 2021 — a five-story, 272,000-sq.-ft. condo project will be built by luxury brand Waldorf Astoria. The site will have a 5,360-sq.-ft. restaurant and 3,532-sq.-ft. of retail plus a 70-space underground parking garage.
Space On Cook
Dallas-based Mill Creek Residential is breaking ground on a six-story, 110 Apartment complex on the southwest corner of 2nd Ave. and Cook Street (155 & 165 Cook St.). The structure is replacing a pair of three-and-four-story office buildings. Completion is expected in early 2025.
Rough Road Ahead
The impressive growth proposed and promoted with Cherry Creek’s latest developments is certain to create transportation, traffic congestion, and parking problems. Residents living in the neighborhood care about the district’s future, and want to maintain the quality of life and success they now enjoy.
The attraction of businesses and their office space needs has accelerated the desire of certain businesses to move to Cherry Creek from other areas of the city. Actual development has already exceeded the 10-year forecasts.
Next month the Chronicle will look at Cherry Creek’s first major analysis of BID’s growth and development. The report offers tough recommendations that need to be made before it is too late to make a difference.