Seven projects in Cherry Creek were completed in 2015 and another 15 projects have been announced or are under construction, according to the latest Cherry Creek Area Development Report
When planned and under construction projects are completed, Cherry Creek will see a 225 percent increase in residential units, a 300 percent increase in hotel rooms, a 33 percent increase in the square footage of office space and a 25 percent increase in the square footage of retail space.
"Cherry Creek has widely been known as the city’s premier shopping destination," says Julie Underdahl, president and CEO of the Cherry Creek North Business Improvement District
. "Cherry Creek is evolving into a mixed-use destination with more hotels, restaurants and living, office and retail spaces coming online. We are working closely with public and private partners to ensure that the area continues to be the No. 1 destination for premier shopping, as well as the top destination in Denver to live, work, play and stay."
The Cherry Creek Area plan, adopted in 2012, outlines a vision for a connected, distinctive, green and prosperous Cherry Creek, a vision that required updating outdated zoning rules for the one-square-mile area. The new zoning has paved the way for development and growth in the area.
"The Cherry Creek Area development report tells a unique story about the Cherry Creek area and the effectiveness of long-term placemaking efforts," says David Steel, chair of the Cherry Creek Area Business Alliance
and president of Western Development Group. "For decades, we saw minimal redevelopment activity in the area. Now, with the new zoning in place, the area is one of the most desirable mixed-use, walkable urban nodes in the country."
Other highlights in the report include:
- More than 500 hotel rooms announced or under construction
- Nearly 1,000 residential units planned or under construction
- More than 95,000 square feet of retail space planned or under construction
- Nearly 200,000 square feet of office space planned or under construction