James Real Estate Services - Cherry Creek Perspective
March 2010  
Kenney Architechts
Cherry Creek North
Cherry Creek Chamber of Commerce
Cherry Creek Rotary
Glendale Chamber of Commerce
Cherry Creek Steering Commitee
Transportation Solutions
Cherry Creek Arts Festival
United Western Bank
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Nick LeMasters reports a couple of new leases at the Cherry Creek Shopping Center.  Tumi will open a second boutique in the center on the upper level near Nordstorm.  Cherry On Top will offer fresh and healthy frozen yogurt with an array of available toppings. They will be located on the lower level near the food court.

 

Mike Blake at the Cherry Creek North Business Improvement District reports that in January the CCNBID Board of Directors approved a resolution that authorized the District to explore possible alternative design concepts for Fillmore Plaza resulting in a hybrid plan that allows for both events and two-way vehicular access.   Work begins shortly on an $18.5 million renovation of the public spaces in the CCN BID.  Western Development and the Sturm Group, owners of NorthCreek and Fillmore Place on each side of Fillmore Plaza invited the BID to consider the change in response to the weak retail market today.  Sturm hired StudioINSITE to develop a conceptual plan.

 

Two open houses were scheduled to gather additional input. Representatives from the design team will be on hand to discuss the current design as well as a hybrid concept, and will have exhibits and drawings available for review.  Members of the BID's Board of Directors will be available to answer questions.  The first open house has been held and the second one will be:

 

Tuesday, March 9th, 5:00 pm - 7:00 pm, 100 Fillmore Place

 

Alongside consideration of redevelopment of Fillmore Plaza, the City of Denver is gathering input regarding use of public spaces and critical connections within the Cherry Creek retail area, which will be used to inform recommendations for the Cherry Creek Area Plan.  Whether you are a resident, business owner, employee or visitor to the Cherry Creek area, they would like your input.  The survey and results will be posted next week on the Cherry Creek Area Plan website at:

 

http://www.denvergov.org/cherrycreekareaplan/tabid/435320/default.aspx

 

Formerly called the Cherry Creek Neighborhood Plan, the last update was in 2000 with lots of input from the Cherry Creek Steering Committee.  This update will incorporate Blueprint Denver, the new Strategic Transportation Plan, Living Streets Initiative the draft Strategic Parking Plan and the new Denver Zoning Code to guide development over the next decade.

 

Project Angel Pride proposes to upgrade the entrance to East High School as a "Gateway to Learning" at East 16th Avenue/Esplanade. With approvals from the Landmark Preservation Commission and the Denver School Board, some $40,000 has been raised so far toward a $250,000 budget with donations welcome of $100 an up.  Donors receive inscriptions on commemorative bricks, cornerstones, capstones or keystone pavers. More at:

 

http://www.projectangelpride.org/

 

The Colfax Streetcar Feasibility Study will hold its second community forum on March 18th 6:00-8:00 PM in the Molly Blank Conference Room at National Jewish Health, Colfax/Jackson.  State Senator Chris Romer has introduced Senate Bill 145 which would partially fund a streetcar project through a portion of vehicle registration fees from owners nearby East Colfax Avenue and federal funds if available.  Romer lived nearby Colfax from a young age.  Preliminary results of the study are that streetcar ridership along Colfax would be significantly higher than found at other streetcar projects across the country that received federal funding.  Streetcars are widely viewed as good for economic and real estate development and the new Denver Zoning Code is designed to accommodate a return to transportation oriented development along commercial streets like Colfax.  More at:

 

http://www.denvergov.org/ColfaxStreetcarFeasibilityStudy/tabid/435130/Default.aspx

 

 

The plan for renovation of the 16th Street Mall continues to be developed.  A team of urban design consultants led by ZGF Consultants from Portland, Oregon and including Laurie Olin who worked on the original mall design, have developed three preliminary plan options and discussed them with stakeholders at informal public meetings.  The next formal public presentation will be on Tuesday, April 6th in the Wellington Webb Building at 201 West Colfax Avenue, Rooms 4.F.6 and 4.G.2 at 5:30 PM with an open house beginning at 4:30 PM.  Options being considered include no change, moving the shuttle lanes to the south side of the entire mall, and moving one shuttle lane to 15th Street.  Many other options are also being considered for street furniture, lighting, retail kiosks, etc.  More at:

 

http://downtowndenver.com/Business/DevelopmentandPlanning/16thStreetPlan/tabid/174/Default.aspx

 

Street improvements funded by the Better Denver Bonds and some federal grants are underway in several locations.  $34.4 million in upgrades are under construction on South Broadway between the former Gates plant at Arizona and the Englewood city line at Yale.  Broadway will eventually be reconstructed as far north as 5th Avenue.  $10.4 million will be spent on 14th Street near the convention center and $4.1 million is being spent on Cherry Creek Drive South to widen it between University and Colorado Boulevards. $9.1 million is being spent on West 14th Avenue, and West Colfax Avenue west of Broadway for streetscape and Colfax Avenue on both sides of Broadway will get $5.2 million in pedestrian and transit enhancements.  And separately, East 6th Avenue eastbound between Eudora and Hudson is where a new 42-inch storm sewer is being installed.

 

The federal funding was just granted and construction has already begun on the Denver Union Station project.  Actually, utility relocations had started a few weeks ago and significant construction will start in the next couple of months.  More at:

 

www.denverunionstation.org

 

Union Station Advocates is showing a short film - Denver Union Station - Portal To Progress at a reception in the Oxford Hotel Ballroom on Thursday, March 18th 5:30 PM to 7:30 PM.  Produced by Denver photographer and filmmaker, Jim Havey the film describes the history of Denver Union Station.  More at:

 

http://www.unionstationadvocates.org/events.html#film

 

As a part of the redevelopment, a new office building is to be built at the north end of the historic Union Station.  To be the first private development at the site, the $32 million 110,000 SF building will be a joint partnership of IMA Financial Group, Haselden Construction, and Union Station Neighborhood Co.  Upon completion IMA will occupy 3 floors of the building with an option to expand to another floor.

 

Demolition has begun at the former Four Points by Sheraton Hotel site at I-25/Hampden and is scheduled to be complete in June.  Redevelopment plans are not very specific as yet but include multi-family/senior housing/hotel/retail/commercial.  The hotel, formerly a Marriott, closed in December when Marriott did not renew its lease.  The 11-acre site was reportedly formerly part of the site of the Englewood Airport and the 611-room hotel built in 1974 was the first Marriott west of the Mississippi.  More at:

 

http://hphampden.com/

 

The former Alameda Square Shopping Center at West Alameda Avenue/Tejon Street is nearing completion of its redevelopment into a Lowe's Home Improvement
Store
.  The Lowe's store is at the rear of the center in a completely new building where the Denver Department of Social Services and REI formerly occupied separate buildings. Pacific Ocean International Market is the most visible of the remaining Asian community tenants in the retail space at the front of the center where additional redevelopment has been put on hold because of the economy.

 

The Denver Coliseum at I-70/Brighton Boulevard is the site of the 2010 Rocky Mountain Real Estate Challenge.  Student teams from the University of Denver and the University of Colorado compete to provide the best proposal for redevelopment of the facility.  Built in 1952 the coliseum was the premier event venue of its day, but even after $7 million in renovation in 2002 it is now far out of date.   The 46-acre site is adjacent to the National Western Stock Show facility which itself needs updating.  The City of Denver and RTD co-sponsor the Rocky Mountain Real Estate Challenge which is produced by NAIOP, the Commercial Real Estate Development Association.  The winner of the Challenge will be announced at the Marriott City Center on May 5th.  More at:

 

http://naiop-colorado.org/evrmrec2010.html

 

Civic Center Park between 14th/Colfax/Broadway/Bannock is finally being renovated.  The $4.4 million project will restore the Voorhies Memorial at the north end and the Greek Theatre at the south end, and the balustrades and staircase between them.  The monuments were built in 1919 and 1920 and the renovation will not interfere with events at the park like the People's Fair.  Funds are from the Better Denver Bonds authorized by voters in 2007.

 

Separately, movies for a fee were authorized by the Denver City Council at Civic Center Park in the summer, but it was discovered insufficient time was available to develop sponsors for this summer and they will be held in 2011.  A temporary 1,400 seat grandstand and a 3-story screen are planned.  Private contractor US OpenAir will present films on 30 consecutive evenings each summer for 3 years generating an estimated $100,000 plus for the city each year.

 

And the McNichols Building at the northwest corner of Civic Center Park is being considered for reuse.  Originally built as a Carnegie Library, the building has been "gutted" and was the topic of a "listening session" to help determine its highest and best use. The Civic Center Conservancy hopes to raise $15-20 million and gain wide community support for the redevelopment chosen.  Use options considered included park amenities, office, events and cultural programming. More at:

 

http://www.denvergov.org/Portals/626/documents/CivicCenterSitemanagementGraphics.pdf

 

Denver City Council Member Jeanne Robb reports that last year when safety concerns along 1st Avenue between Colorado Blvd. & Steele Street prompted discussions with the Cherry Creek East & North Neighborhood Associations, some merchants and Public Works, it became evident that what was really needed was a plan of renewal and improvement along the length of that corridor between Colorado Blvd. & Steele Street. 

In working with the city's budget office, Robb was able to secure $75,000 for developing a plan to enhance the streetscape, support commercial development and develop traffic calming measures to improve safety.  A small working group including neighborhood representatives, commercial interests, Public Works and planning consultants are now meeting to talk about developing a vision for the 1st Avenue corridor that will be used to inform the Cherry Creek Area Plan. 

A public meeting had previously been scheduled for Tuesday, March 9th to provide an update on the East 1st Avenue Improvement Study.  Unfortunately, because of conflicts this must be rescheduled likely to the fourth week of March.  More at:

http://www.denvergov.org/Infrastructure/1stAvenueSteeletoColoradoStudy/tabid/435012/Default.aspx

Denver City Council Member Marcia Johnson reports that the Fax Partnership is working with businesses along East Colfax Avenue between Colorado Boulevard and Yosemite Street (the Aurora city line) to encourage development through creation of a business improvement district.   More at:

http://thefaxpartnership.com/

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