Czar Of Cherry Creek’s Conversion Into A NY Village Plans To Create $30 Million 18-Hour-A-Day Nightlife Hub
When Peter Weber built the Inn At Cherry Creek 15 years ago, it was the district’s boutique hotel. It opened on Clayton St. at about the same time the JW Marriott Denver at Cherry Creek opened a block south at 150 Clayton Lane. That was when Cherry Creek North was still home to mostly independently-owned boutique outdoor retail stores and dining destinations.
Then in 2014 the Denver City Council passed new zoning rules for the district that reduced parking requirements, lifted restrictions on building heights and allowed hotels in for the first time. Now most of the independent retailers and dining destinations are gone, replaced by expensive high-rise apartments and high-end New York retailers and restaurateurs. Three new hotels — the Halcyon, Moxy and Jacquard — have been added. Matt Joblon — CEO of BMC Investments and czar of the continuing massive Cherry Creek makeover — built the Halcyon and Moxy and has a 99-year ground lease on the Inn at Cherry Creek. The Halcyon and Moxy are both within half a mile of the Inn at Cherry Creek. BMC has developed or is in the process of developing more than $500 million in projects, all in Cherry Creek North.
The Inn at Cherry Creek continued to operate for a year, but Joblon has now begun a year-long renovation or more accurately a makeover and repositioning of the boutique site at 233 Clayton St. The existing building — a four-story property with 37 hotel rooms, three residences and three commercial spaces — is being gutted and 15,000-20,000-sq.-ft. of space added at an estimated cost of $30 million. The MBC project is a collaboration with hospitality and development industry veterans Aparium Hotel Group and CHMWarnick.
Adding Fifth Floor
The renovation is expected to include a partial fifth floor to the four-story hotel. The new space will be rebranded but fewer than a half-dozen rooms are expected to be added.
The Inn’s original restaurant — The Weber Grill — was shuttered by Joblon almost immediately after signing the 99-year lease. In its place Joblon has promised “a great new space” that will be much larger, serving three meals a day.
Joblon also plans to expand the hotel’s retail space. To do that he is bringing in a third party to do an “experimental type of retail that does not currently exist in Cherry Creek.” He has often referred to this pro-posed space as an “upscale bazaar” similar to the Denver Central Market. Or maybe something like the Greenwich Village Abingdon Square Greenmarket.
Getting Party Going
You may think that Cherry Creek nightlife is dead but don’t be fooled, Joblon plans to get the party going again at the renovated space. In fact he wants to transform the hotel and the street from an “eight-hour-a-day to an 18-hour-a-day community.”
That means the hotel will feature music, food and other amenities. “We want to do a project that is focused around the cultural part of Cherry Creek to really grow and expand that part of it … for both locals and people coming out and visiting,” Joblon says.
The renovated hotel’s nightlife — cocktail bars, music, entertainment and art — will be inside so the neighborhood won’t complain. Joblon originally planned for live music on the rooftop terrace at the Halcyon Hotel but the neighborhood association squashed the notion because of the hotel’s proximity to condos.
Culture Epicenter
He wants the new Inn at Cherry Creek to become its own thriving, diverse community. Meeting rooms and community areas are being designed into the hotel’s expansion. “The core of our vision is to create a place that becomes the cultural epicenter for this neighborhood.”
Think New York’s Greenwich Village or as New Yorkers call it, “The Village.” He wants the hotel and Clayton Street to become Cherry Creek’s bohemian capital, a spot with places like Greenwich Village’s Fat Cat and Café Wha? He dreams of the Clayton block becoming an updated and stylish version of Greenwich’s MacDougal St., where throngs flock to enjoy drinks, live music and meet up with friends.
He believes the hotel has incredible potential to be a destination in and of itself and thus help the neighborhood to thrive. He aims for the hotel to draw all types of people with all kinds of stories. “That’s what I think is going to make this place really special. Not to mention very, very different.”
Marriage Of Money
The 30-something Joblon grew up in the Boston area — his family owns Brittany Global Technologies — and moved to LA to work for an individual real estate investor. That’s where he met his future wife Alissa Alpert, daughter of Lee Alpert who has developed more than 44,000 acres of Denver real estate. Joblon moved here in 2010, married Alissa and met Darren Everett who at the time was VP of Operations for the Alpert Companies. Everett is a founding partner of BMC Investments and President of BMC’s property management affiliate, BLDG Management.
Greenwich Village’s Fat Cat.
Soon after moving here — Joblon lives in Cherry Hills Village but has offices in a Cherry Creek building he built at 2nd Ave. and Detroit — he began building a relationship with the Inn at Cherry Creek owner Peter Weber. He says he wanted to make sure that another party didn’t beat BMC to the deal and create a brand that would compete with his nearby hotels. Earlier this year, of course, BMC sold the Halcyon Hotel to Ohio-based Rockbridge Capital for $93 million.
The rebranded Inn at Cherry Creek will still face the same problems as the other two hotels: attracting hospitality and retail workers! Why? Cherry Creek North’s expensive parking and relative lack of public transportation.