Published: February 28, 2018
Nine of ten major building projects in the Cherry Creek Area are projected for completion this year.
As construction wraps up, there are even more reasons to visit Cherry Creek as new retail, restaurants, offices and residences begin to open their doors. The area’s re-development is a result of planned development efforts by the City and community of Denver.
In summer 2012, the Cherry Creek Area Plan was adopted. The new area plan outlined a vision for a connected, distinctive, green and prosperous Cherry Creek. This vision required updating outdated zoning rules for the one square-mile area, bordered by Colorado to University Boulevards and 6th Avenue to Cherry Creek South Drive. The new zoning was unanimously adopted by city council in 2014 and has since paved the way for reinvestment in the area.
"Six of the ten active projects are located in Cherry Creek North and are projected to complete this year,” said Julie Underdahl, president & CEO of the Cherry Creek North Business Improvement District (BID). “It's exciting to see these state-of-the-art projects finish! Cherry Creek North is one of the premier shopping, dining, and lifestyle destinations in the country and the new buildings’ new retail and dining options, along with additional parking, gives even more reasons to visit our vibrant area."
The newest Cherry Creek Area Development Report, sponsored by First Bank and presented by the Cherry Creek North BID and the Cherry Creek Area Business Alliance was released earlier this month. The report overviews development in the Cherry Creek Area, which spans Colorado to University Boulevards and 6th Avenue to Cherry Creek South Drive, where nine of ten active construction projects target 2018 completion dates.
When planned and under construction projects are complete, Cherry Creek will see a 24% increase in residential units, 58% increase in hotel rooms, 15% increase in square feet of office space and a 15% increase in square feet of retail space.
“The Cherry Creek Area continues to undergo an unprecedented cycle of reinvestment and development,” said Tom Wright, Chair of the Cherry Creek Area Business Alliance and President of FirstBank – Cherry Creek. “The area plan has guided the transformation of the area from a neighborhood, to a destination bustling with more residents, offices, employees, visitors and of course, unique retail and renowned restaurants.”
Additional highlights from the most recent report include:
- More than 200 hotel rooms currently under construction
- Nearly 660 residential units planned or under construction
- More than 348,360 square feet of retail space planned or under construction
- More than 86,000 square feet of office space planned or under construction
To see the full Cherry Creek Area Development Report, click here. To obtain a hard copy of the report, contact Jenny Starkey, email@example.com.