FW: Cherry Creek Perspective – January 2010

James Real Estate Services - Cherry Creek Perspective
January 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
James Real Estate Services, Inc
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The future redevelopment of the historic Union Station building in downtown Denver into the central hub for the FasTracks transportation system has been assured and advanced by the award of $304 million in loans by the U.S. Department of Transportation.  The funds amount to 64% of the total cost for the redevelopment.

A new mixed-use development has been announced for the area west of South Broadway and West Jewell Avenue by real estate investor Jon Cook.  To be known as The Lumberyards, construction of the site is to begin in 2011 with an 8-story building that will have an upscale restaurant on the base floor and residences above that is to be followed later by buildings that will add office, residential, retail and restaurant space.

King Soopers reports plans to open a new “expanded selection” grocery store on the former Cub Foods site at Leetsdale/Cherry Street in late 2010.  The 78,000 SF store will have 3 to 8 shops nearby.  The grocery has no plans for changes at either the Leetsdale/Monaco or Belcaro stores.

The 4550 Cherry Creek luxury apartment building at 4550 Cherry Creek Drive South in Glendale has been purchased for $52 million or $180,555/unit for 288 units in 24 stories.  The building sold in 2005 for $78 million

Mickey Zeppelin and Alan Brown propose changes to an existing PUD for the remaining land at the Greenhouse Condominiums at Alameda Avenue/Harrison Street that would incorporate the new form based zoning code planned for the entire city. Phase One of the development was built in the 1980s and sold as condominiums.  Phases 2, 3 and 4 will encompass the rest of the block bounded by Alameda/Harrison/Jackson/Cedar. The Cherry Creek East Neighborhood Association approved the rezone by a close vote and is in discussion with the developers for an agreement that incorporates the new Denver Zoning Code and addresses some community concerns.  More at

http://zeppelinplaces.com and

http://www.alanebanbrownarchitects.com/Transfer/GREENhousePresentationWeb.pdf 

 

The Cherry Creek North Business Improvement District is revisiting the idea of allowing a small number of cars through Fillmore Plaza as it redevelops the streetscape in the area.  Property owners on either side of Fillmore Plaza have approached nearby neighborhood leaders about the possibility of opening the plaza as a “hybrid” street with narrow lanes meandering through the mall and adaptable to pedestrian oriented events by blocking traffic occasionally.  The BID presented its plans to the Cherry Creek Steering Committee. Of the $18.5 million authorized, after “soft costs” the BID will have a net $14 million to spend over the 16 block business area of Cherry Creek North.  $1.8 million is planned for Fillmore Plaza.

 

The BID Board responded to objections to any change by the Cherry Creek North Neighborhood Association by authorizing study of the alternative plan while moving forward with the existing plan for a pedestrian mall. Western Development and The Sturm Group, owners of the blocks on either side of the mall have hired Studio Insight to investigate how the block could function as a “Heart of CCN, and also accommodate limited vehicular traffic. The plan would allow for BID-designated closures for festivals or occasions. Street materials and stepped transitions would delineate street and pedestrian areas.  The BID would enter into an intergovernmental agreement (IGA) with the City of Denver and the block would continue to remain a public right-of-way.

 

Wayne New, president of the CCNNA said that Fillmore Plaza is the only open space in the BID and is a unique pedestrian feature in the community.  He said that no public investment has been made in Fillmore Plaza or the rest of the BID in the last 20 years, so the condition of the streetscape in the BID and the mall has deteriorated, discouraging pedestrian use.  In 2006 when this issue was last discussed, the CCN residents overwhelming support the plaza as open space and feel that the current BID improvement plan for Fillmore Plaza will bring vitality and life back to the plaza.  New suggested that the Fillmore Plaza issue be addressed in the Cherry Creek Plan update process along with other related issues.  If the BID Board approves the plan for a “hybrid” street through the plaza it will host an open house and the CCNNA will hold public meetings allowing developers and the BID to describe plans for the Plaza. 

Denver City Council Member Jeanne Robb mentioned that, if the issue goes forward, then a City Council vote would be necessary for the street and an IGA.  She says, “I do realize that keeping Cherry Creek a vibrant area is good for the retailers, good for the surrounding neighborhoods, and good for the City, so I’m always open to public discussions of this “symbiotic” relationship, especially considering these tough economic times.  But to really reopen the plaza/limited street discussion, I’ll need to see considerable community support because it wasn’t there last time we discussed this issue. ”

Bike sharing is coming to Denver.  Denver B-cycle is a bike-sharing system operated by Denver Bike Sharing that will establish 40-50 Bike Stations with 400-500 bikes, in central Denver including 4 stations in Cherry Creek and 3 to 4 at the University of Denver.  Bike sharing is a safe, inexpensive way to improve personal mobility and reduce urban congestion and pollution.  Obtain an early registration price after March 1st at:

 
 

Cherry Creek locations include:  Cherry Creek Shopping Center – adjacent to the bike path, the Seasons Apartments – Ellsworth /Madison, Gart Properties office building- 299 Milwaukee and Liberty Savings Bank – 3rd/Columbine.  DU locations include: Nagel Hall, Driscoll Center and the RTD Light Rail Station

The Denver Post reports that a Cherry Creek home was chosen as the ninth most romantic home on the market in the United States by TopTenRealEstate 

 
The 7,066-square-foot home at 478 St. Paul St. is listed for $5.7 million.  The real estate website reviewed thousands of home listings and talked to real estate agents across the country to rank America’s 10 most romantic homes for sale, based upon location, design, features, history and beauty.  According to the website, “This Colorado modern masterpiece has everything to make your valentine’s weekend special.”  

 

Correction of our last issue from David Steel:  Western Development is not owned by Phil Anschutz. The company is actually owned by Phil’s son Christian, Roy Kline and David. Also, David adds to the restaurant moves and openings mentioned last month.  Over the Christmas holidays the Eggshell moved from its long time 3rd/Josephine location to the former Mel’s space at 235 Fillmore. Steel says, “They’re open and doing a great business.”

 

Denver Council Member Marcia Johnson reports that the Denver City Council has approved a Planned Building Group for the Lowry Vista land on the north side of East Alameda Avenue across from the Windsor Gardens Senior Apartments near Aurora.   The 78 acre site is just west of the Common Ground Golf Course and overlooks a large open space/detention area.  The site is now approved for up to 605,000 SF of retail, office and hotel uses, with 847 residential units and 16 acres of open space.  More at:

 

http://www.denvergov.org/Portals/76/documents/5News2010February.pdf

 

And the Wellshire Inn has finally signed a new lease and started renovation. 

After over 35 years of operation, in early 2009, partner’s Lawrence Atler and Howard Torgove, the food and beverage concessionaires at the City owned Wellshire Golf Course closed the Wellshire Inn’s main restaurant and banquet rooms and converted the facility to The Wellshire Event Center.  During 2009, Phase One of a planned three-stage renovation was completed while holding special events for up to 200 guests in the “magnificent, nearly 100-year old Tudor structure” – weddings, corporate meetings, bar mitzvahs, memorial services, club meetings and charity events.

 

The event center, Golfer’s Pub and on-course concession remain open while general manager, Chris Schild, oversees Phase Two.  A glass enclosed, heated and air-conditioned Mountain View Pavilion will seat up to 250 guests with “spectacular views” overlooking the golf course and Front Range of the Rocky Mountains.  Construction of the pavilion, a new entryway and a remodeled front patio are expected to be completed by May.

 

Phase Three will include an enclosed western patio overlooking the 9th green for events up to 350 guests and extensive renovation of the Golfer’s Pub and adjoining patio, all to be completed in 2011-2012.  Penny Parker in the Post quotes Torgove as saying this will be Denver’s Tavern on the Green.  To book events call Todd Seymour or Kristen Loika 303-759-3333.

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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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About Tom & Dee Cryer

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