Cherry Creek Perspective

Welcome to Cherry Creek Perspective – monthly news of mobility-related and affordable housing real estate throughout the Denver-metro area, and news of real estate, public sector and economic developments in the southeast Denver – Glendale area, relying in part on articles published in Real Estate Perspective.

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Each business day for Real Estate Perspective, the JRES staff reviews all Denver metro area wide and local newspapers, trade journals, government websites, blogs and other sources for commercial and residential real estate and economic news. News items are condensed into easily readable summaries providing all of the essential facts for the Real Estate Perspective newsletter. And Apartment Perspective, provides a detailed update of Denver metro area apartment rental, vacancy and development/construction activity including proposed projects.

The latest on Real Estate and Mobility is also available at a Group in LinkedIn with that name and moderated by Bill James at:

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Be careful out there and stay healthy.  The JRES newsletters will continue to be published.




Gallagher Education Month – Weekly Series of Webinars

Downtown Colorado, Inc. (DCI) and the Economic Development Council of Colorado (EDCC) are pleased to announce a month of education and conversation around the Gallagher Amendment to the Colorado Constitution. DCI and EDCC have formed a partnership to establish and present educational content to build awareness and informed action around the Gallagher Amendment in advance of the November election where the repeal of the Gallagher Amendment is on the ballot.

9/22 – 4:00-5:00 PM

9/30 – 8:30 -9:30 AM



Craving a gyro or some BBQ, or maybe a healthy quinoa bowl?  Considering discovering cuisine from across the world? Or how about a favorite meal with a twist, like a taco wrapped in fried cheese?  We’ve got it all plus a whole lot more at Civic Center EATS!  Our talented food truck chefs are ready to serve you lunch and dinner!  As we have worked hard to prepare an event that is enjoyable in safe in Civic Center Park, we invite you to check our EATS Tips and Safety Guidelines.

Wednesdays & Thursdays, August 12th – October 15th – 11:30 AM-1:30 PM & 5:30-7:30 PM – Civic Center Park


Denver Architecture Foundation Audio Tours

The DAF’s Audio Tours feature 24 historic sites, that take listeners on a journey through Denver’s past while connecting to present and future. Over a century of Denver’s architectural and cultural history is explored in just a few hours. Audio Tours can be explored on location or remotely. The journeys are in walking or biking distance from one another and are concentrated in downtown Denver and Civic Center.



Project for Public Spaces is teaming up with Dutch mobility firm Mobycon to present “Reimagining Streets as Places,” a virtual masterclass-style training about the intersection of placemaking and transportation planning. The course will take place over three weeks in October 2020, and upon successful completion participants will be awarded a Streets as Places Certificate.


The Case For a Cost Segregation Strategy

If your clients haven’t considered procuring a cost segregation study on their properties, they may not have claimed the appropriate amount of depreciation. A cost segregation study is the process of identifying and separating personal property that is or has been grouped with real property. These studies can benefit any type of commercial property. Engineering-based studies tend to be the most reliable and preferred by the tax court. Cost segregation studies became even more valuable when the 2017 Tax Cuts and Jobs Act (TCJA) changed depreciation rules.


RESHAPING CITIES – Post-Pandemic Perspectives

We are living in challenging times. ULI and the Sharing Cities Alliance invite you to join us to learn about opportunities for change in our post-pandemic world.  In this environment, predicting how the future will unfold is next to impossible. However, we know that technological, social, and environmental developments within our societies are changing the way we live, work, learn, and play. We know that resilience is essential to our ability to adapt and resilience is born, in part, from information exchange and problem solving. Therefore, it is critical to exchange insights and try to turn challenges into opportunities, together. We invite you to participate in this learning experience designed to expose you to different people sharing their experiences and perspectives.

Creating Value through Transit-Oriented Development

This webinar analyzes best practices in the design and delivery of urban development in and around transit interchanges, looking at opportunities and challenges of PPP and of the interrelationship between city infrastructure and commercial development/real estate. The panel addresses key questions including: How can public and private sectors collaborate more effectively, and how can they create more value around public transport infrastructure developments? How can we facilitate mixed used developments, and redevelopment of obsolete uses, at or near transit stations? How to capture land value increases resulting from infrastructure developments for all stakeholders, including the community to benefit from?

This webinar is free for ULI Members.

You may be surprised at how inexpensive ULI membership is. Info at:


Denver Elected Officials Online Town Halls

Join Denver city council members, state representatives, school board representatives, and RTD board members for a Virtual Town Hall.

Every 2 weeks next on Thursday August 20 – 4:00-5:00 PM

Phone: 408-638-0968 – password: 5555

Zoom:  Meeting ID: 924 3016 5131


Work From Home Resources

Offering employees more choices for how and when they work can be key to ensuring business continuity and emergency preparedness for your workplace. We have compiled some resources for you to help quickly start or refine work from home options for your workforce. Transportation Solutions is a transportation management association that makes things happen.



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The Centers for Disease Control and Prevention (CDC) recently announced an order to temporarily halt residential evictions to prevent the further spread of COVID-19. The moratorium is in effect through Dec. 31 and applies to covered tenants facing eviction for nonpayment of rent who present a signed declaration to their landlords that they meet certain income and hardship criteria.

Denver City Council Member Kendra Black reports the City and County of Denver Affordable Housing Zoning Incentive Project is working to find tools in the zoning code to encourage the construction of affordable housing.



RTD Opens the N Line and Has Selected a New CEO

The RTD Board of Directors has selected transit industry veteran Debra Johnson as the agency’s next general manager and CEO. Ms. Johnson most recently served as Deputy CEO at Long Beach Transit and will be the first woman to lead RTD in its 51-year history.

RTD will open its newest commuter rail corridor, the N Line, on Monday, Sept. 21. The 13-mile rail line, from Union Station to Eastlake·124th Station, will serve Denver, Commerce City, Northglenn and Thornton and includes a stop at the National Western Complex.  RTD is planning a virtual opening at 10:00 AM that day. Following the ceremony, the line will open to the public for a week of free service. RTD will begin collecting fares on the N Line on Monday, Sept. 28.

RTD, like much of the rest of the world, continues to face a significant budget impact due to the COVID-19 pandemic. Starting in March, RTD’s funding and operations were severely impacted by COVID-19, significantly reducing fare and sales tax revenues and increasing the agency’s expenses in order to implement safety protocols. The agency has already implemented a number of cost-saving measures, but more is necessary to address a projected $166 million budget shortfall for 2021. RTD’s internal COVID Fiscal Response Task Force has identified a number of budget and staffing reductions to streamline the agency’s costs to align staffing levels with the much-reduced current level of service that will continue for the foreseeable future. Chief Executive Officer and General Manager Paul Ballard has announced the proposed reductions to balance the agency’s budget. Tough times mean tough decisions as transit agencies, other public entities and even private companies make difficult business decisions in response to the pandemic’s impact.

Fear of Public Transit Got Ahead of the Evidence

As New York and other cities take steps to reopen, transit agencies’ most pressing job, next to managing massive budget shortfalls, will be managing fear while they seek to reclaim the passengers they have lost. High-visibility cleaning and strong health-messaging campaigns, coupled with universal mask wearing, can help reassure passengers that they can return to a safe transit system. But more reassuring still is the lack of evidence that public-transit systems have played a role in COVID-19 transmission—and a growing body of research pointing in the other direction.

CDOT Projection Suggests A Front Range Train Would Carry 3M Passengers A Year

A passenger rail line stretching nearly 200 miles between Fort Collins and Pueblo would carry 9,200 people every weekday and nearly 3 million in a year, according to new modeling. The group overseeing the project has yet to finalize details, like an exact route, stations, cost and, most crucial, funding sources. But the modeling presented to the state’s Southwest Chief and Front Range Passenger Rail Commission represents a key step toward making the line a reality. The model predicted a “notable demand” for regional rail service by 2045 which puts it in the middle of comparable passenger rail systems across the country.


Denver City Council Member Amanda Sawyer reports her office has been contacted by many residents with questions about the Target store that is planned for the Exchange at Boulevard One. This property was zoned commercial prior to Councilwoman Sawyer coming into office, and the zoning in place for the Exchange allows for the small format commercial use. Once a property is zoned for commercial use, City Council has no authority over which businesses are leased space by private property owners. Regardless, in response to concerns about increased traffic in the area, our office has reached out to a non-profit mobility hub provider to see if there is any way to work with the developer to provide better transportation options in the area to help mitigate the traffic.

According to the Boulevard One developer: “This location was marketed to multiple anchor users, including grocers and general merchandisers. Finding a strong anchor was critical for the viability of the Exchange and was especially difficult with the economic pressure COVID has put on retailers. With Target as the needed strong anchor, the Exchange will be able to attract the desirable mix of restaurants, retail stores and office uses that create a distinctive place. The new Target store format is a different experience than larger stores, more customized to the needs of local neighborhoods. The small format Target does not preclude also having a specialty grocer. In fact, the developer of the Exchange is currently negotiating a lease with a locally based specialty grocer, which we hope to announce in the fall.” They go on to say, “The surface and underground parking provided by the development exceeds the demands for all the proposed tenants on the site and also exceed City requirements.”

Sawyer also reports the City of Denver has received an application for a zoning change for a proposed development tentatively titled 1st Avenue Gateway at 55, 65, 101 S. Colorado Blvd; 51, 97 & 101 N. Colorado Blvd. and 98 Harrison St. Currently, the developer, Doug McKinnon, has a project at 30-50 S. Colorado Blvd. City Council’s Public Hearing on this proposed rezoning will happen on Monday, September 28, 2020.

Sawyer also reports the Denver Neighborhood Planning Initiative is coming to the Near Southeast Area, including Washington/Virginia Vale and Winston Downs. Neighborhood plans are documents that take the visions of Denver’s Comprehensive Plan and Blueprint Denver – our guiding land use and transportation documents – and apply them to individual communities as a tool to guide future development. Washington/Virginia Vale and Winston Downs – as well as Virginia Village to the south, Indian Creek to the east, and the Goldsmith neighborhood to the south, comprise the near Southeast area and are among the next planning areas addressed by the Neighborhood Planning Initiative (NPI). The Phase One NPI planning effort addressing the West, East and East Central areas is wrapping up, with Phase Two – focusing on the West, Near Northwest and Near Southeast planning areas – set to kick off in early 2021. If Phase One is a guide, we can expect the Near Southeast effort to take 18 – 24 months to complete. The bulk of the covered area is in Council District 6, but also includes parts of District 5 to the north and District 4 to the south. The project will be guided by a steering committee comprised of city staff, City Council representatives, project consultants, and residents from the affected neighborhoods. Public input is absolutely critical to creation of a plan that reflects community goals and values. COVID-19 pandemic may require the project to begin with virtual/on-line meetings.