Cherry Creek Perspective – November 2009 – by James Real Estate Services

James Real Estate Services - Cherry Creek Perspective

October 2009      

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

 

James Real Estate Services, Inc

Private-property owners in the area of 14th Street in downtown Denver have approved the creation of a general improvement district for the area. Added to a contribution of $4 million by the private-property owners will be $10 million from the Better Denver Bond Program.  The streetscape project will improve 14th Street by expanding the sidewalks to encourage outdoor seating, increase the number of trees and flowers, and adding a bike lane. The area to be improved is between Larimer and Welton Streets and 14th Street is becoming known as Denver’s Ambassador Street with new and renovated hotels complementing the Colorado Convention Center and the Denver Performing Arts Center.

The Stapleton Redevelopment will get its third K-8 school thanks to cooperation between the developer, Forest City, the City of Denver and Denver Public Schools.  Parents were frustrated by the two existing crowded schools and Mayor Hickenlooper "brokered" a deal where costs are shared among the various entities for a $17.4 million school to be built.

The planned makeover of the 16th Street Mall was advanced recently with the announcement by the Downtown Denver Partnership that it has selected Zimmer Gunsul Frasca Architects as the urban designer of the project. The makeover of the mall is aimed to contribute to its success for the next 25 years.

The U.S. Department of Housing and Urban Development has announced that the South Lincoln Park homes development in Denver is to be the recipient of $10 million in public-housing grants. A part of its allocation of grants under the federal stimulus program, the funds will be directed through the Denver Housing Authority.

Bush Development has announced a new mixed-use development for the Cherry Creek retail area. To be located at the SEC of First Avenue and Steele Street, the 12-story Steele Creek development will house 20,000 SF of retail space, a 140-room luxury hotel, 15,000 SF of restaurant space, 70,000 SF of office space, and high-end condominiums as well as possibly provide a rooftop deck for events that could also include weddings. The company anticipates construction of the $100 million development to begin in 2011 and completion to occur in 2013.

Consultants FHU and Civitas have been awarded a $75,000 contract to study the East 1st Avenue corridor between Colorado Boulevard and Steele Street. The study will address pedestrian safety issues, traffic calming, reconfiguring of streets to be more pedestrian oriented consistent with the "Living Streets Initiative’" and to serve as a gateway into Cherry Creek. No City funds are available for implementation, so funding mechanisms will also be explored.

 

The Clifford Still Museum is scheduled to start construction in December.  Just west of the new Hamilton Wing of the Denver Art Museum in the 1200 block of Bannock Street, the $29 million building will house some 2,400 works by the pioneer Abstract Expressionist artist.

Council Member Marcia Johnson reports that the City of Denver’s East Side Mobility Plan will identify ways to improve mobility in the area from I-70 to Leetsdale Drive, between Monaco Parkway and Yosemite Street. The nine-month planning effort will make recommendations for improving vehicular, pedestrian, bicycle and transit movement in this area. The first community meeting has been scheduled for Thursday, November 19th from 6 to 8 p.m. at the Denver School of Science & Technology, 2000 Valentia Street   Ideas will be solicited about the traffic problems within the "East Side Travel Shed" from I-70 to Leetsdale Drive and between Monaco Parkway and Yosemite Street. The ESMP will identify ways to improve movement through the area, by foot, bicycle, car or bus. More at www.denvergov.org/eastside.

The Denver Pavilions shopping center at 16th/Glenarm has reopened with significant vacant space after completing its $25 million renovation.  The 347,000 SF center has over 50 tenant spaces and 17 are reported vacant including the former Virgin Megastore and Wolfgang Puck restaurant spaces totaling 25,000 SF.  The center was bought by Gart Properties in 2008 for $94.5 million anticipating the renovation and the Denver Urban Renewal Authority contributed $3 million to the renovation.

The Transit Alliance has been awarded a grant through the Federal Transit Administration’s New Freedom grant program to improve access and mobility for older adults and those with disabilities. This Living Streets implementation project will make access improvements to transit and transit supportive facilities along South Cherry Street in the City of Glendale. Transit Alliance is partnering with the City of Glendale and Transportation Solutions on this project.

With Council Member Jeanne Robb’s attention for years, the City and County of Denver is finally assessing the feasibility of a "modern streetcar" line on the Colfax Avenue Corridor. The initial $190,000 study area is bounded on the west by I-25, on the east by Syracuse Street, on the south by 12th Avenue, and on the north by 19th Avenue. The Colfax Avenue Streetcar Feasibility Study will also identify criteria to evaluate other candidate corridors for a potential broader streetcar network

According to Terry Ruiter, a Planner in Denver Public Works managing the study, stakeholders in the Colfax corridor have suggested a modern streetcar would have mobility and economic investment benefits. The study, led by Fehr & Peers, will identify how a modern streetcar in the Colfax corridor would affect transit ridership, automobile trips, traffic operations, adjacent property values and new economic investment.  The first public meeting will be 5:30 – 7:30 December 8th at National Jewish Hospital, Heitler Hall.

If your organization would like to consider sponsorship of Cherry Creek Perspective, please contact Bill James at bjames@jres.com or 303-316- 6768.

 

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James Real Estate Services, Inc. | 90 Madison St. Suite 300 | Denver | CO | 80206

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About Tom & Dee Cryer

Your Friends in the Homeownership Business!
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