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Transportation Solutions, the transportation management
association based in Cherry Creek North has a new Executive Director.
The Board of Directors recently approved Monica Strobel, long time
Associate Director as replacement for Allison Billings. Allison is
returning to North Carolina with her expanding family (twin girls) and
husband Steve who recently completed a PhD at the University of
Colorado. Allie has been a tremendous asset to rational transportation
planning and implementation in southeast Denver/Glendale and the metro
area as a whole. She will be missed. Monica and Rebecca Cales,
Community Relations Specialist will certainly continue to fulfill the
TS mission to enhance mobility without a hitch.
The Cherry Creek North Business Improvement District continues
to design the proposed redevelopment of public improvements in the
District as numerous private developments proceed. A mission statement
for the project has been written which briefly expresses the intention
to enhance the outdoor environment integrating commercial and
community activities to enhance commerce. Objectives of the
redevelopment fall into the areas of streetscape, lighting,
environmental graphics, circulation (pedestrian, auto, transit, etc),
parking, events facilities and infrastructure. More when the design is
presented to the community.
The Denver Pavilions shopping center in downtown Denver has
been purchased by Gart Properties, based in Cherry Creek North, for
$94.5 million, or $272/SF. Purchased jointly with ING Clarion Partners
LLC, the property houses retailers United Artist Theatres, Niketown,
Barnes & Noble, and Virgin Records. The new owners plan to make
improvements to the center that include escalators and high-tech video
signs.
The Church in the City at the NEC Colfax/York Street is moving
in 2009 to the former synagogue at 16th/Gaylord. Charley Wooley,
redeveloper of the Lowenstein Theatre into the Tattered Cover complex
practically across the street, plans to redevelop the former Safeway
store site and will meet with neighbors this week to accept questions
and comments about the mixed use project.
The Oxford Arms apartments totaling 63 units at 756- 758 Colorado
Boulevard sold recently for $2.6 million, or $41,270/unit. BWAB
Property Holdings purchased the property for the purpose of
redeveloping the site into a Marriott Residence Inn extended
stay hotel together with the site of the building formerly occupied by
Annie's Café and a video store. Annie's Café has moved to the former
Goodfriend's Restaurant building at Colfax/Steele Streets.
The 130,700 square foot Citadel office tower at Cherry Creek
Drive South/Alameda was sold for $31.75 million, or $243/SF. Located
at 3200 Cherry Creek South Drive, tenants include Daniels and
Associates, Deutsche Bank and New York Life Insurance and the buyer is
KBS Realty Advisors in Newport Beach, California.
Crescent Real Estate Equities LP has sold two buildings in Cherry
Creek to Schnitzer Northwest LLC of Seattle for an undisclosed amount.
The properties include 55 Madison Street (8 stories, 137,200
SF) and 44 Cook (10 stories, 124,200 SF) have a combined area
of 261,400 square feet.
Fifteen new jobs were added to the local economy with the conversion
of a Wild Oats store at 11th/Ogden on Capitol Hill to a Whole Foods
Market.
Ground has been broken on a new pediatric hospital at 1719 East 19th
Avenue. To total 100,000 square feet upon completion in 2010, the new
Rocky Mountain Hospital for Children is to provide an 84- bed
neonatal intensive care unit, a 22-bed emergency department, and
include a new 4-story building that will provide an ambulatory surgery
center as well as office space. The project is to be constructed at a
cost of $113 million.
Bush Development has purchased the retail/office building at the
SWC East 3rd Avenue/Clayton Street for $3.15 million equivalent to
$362/SF for the 8,700 SF building for it's current income and its long
term development potential. The price is including the building is
equivalent to $420/SF of the 7,500 SF site. Current tenants include
David Ellis Jewelers and Great Harvest Bread Co. Bush Development is
also assembling three office properties at the SEC East 1st
Avenue/Steele Street for redevelopment into the mixed use Steele Creek
project.
Once again you can benefit a great cause and play golf in the 12th
Annual Cherry Creek Rotary Golf Tournament at Arrowhead Golf
Course on July 31. Register on line at
www.eg olftourney.com/rotarygolf and learn more about Denver
Cherry Creek Rotary at
www.cherrycre ekrotary.org. The $175.00 entry fee includes lunch
at noon, driving range, cart, and dinner. Help fund many worthy causes
($50,000 in grants this year) including dental missions to South and
Central America (13 years), Rotary's worldwide efforts to eradicate
polio, local causes such as, Greenlee Elementary School, and Boys and
Girls Clubs.
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