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  April 2007




















This month, Cherry Creek Perspective welcomes J Kent Staffing as a sponsor. J Kent Staffing is a full- time and temporary staffing agency, that uses a unique consultative educational process, which allows the company to find highly skilled employees able to move across any industry and fortify any corporate environment. Click on the company logo below left to find out more.


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The Post News Colorado Colfax Marathon foot race is on Sunday, May 20th along the entire length of Colfax Avenue. Organizers are hoping for 5,000 adults in addition to participation of some 4,000 K-6 children from 55 schools. In addition to the Cities of Aurora, Denver and Lakewood, sponsors include the University of Colorado Hospital, Ralph Schomp Automotive, 1STBANK and many more. More at cfm?nav=h

Resident requests to downzone their residential properties from R-3- to R-2 were approved by the Denver City Council in March. The rezone, affecting properties in the Congress Park neighborhood near the 1300 blocks of Monroe, Fillmore, Milwaukee and Madison Streets, places restrictions on the properties that will prevent them from being developed into high-density residential units in the future, thereby preserving the historical character of the neighborhoods. Other areas pursuing or considering rezoning for their properties include the 1300 blocks of Clayton and Elizabeth, the 1300 blocks of York and Josephine, the 1300 to 1400 block of Adams, and the 1300 blocks of Lafayette and Marion Streets.

Colorado Center, the home of Dave & Buster's, multiplex theatres and a major office complex at Colorado Boulevard/I-25 is requesting a rezone to complement the new Southeast Light Rail station at its doorstep. Currently the site has the right to develop some 860,000 SF more space confined to office and hotel, but the proposed TMU-30 zone would permit essentially the same amount of total space with residential development included making the Center much more of a Transit Oriented Development. The owner, Lincoln Property Company plans to develop the surface parking lot with an interior street system to complement additional buildings and provide pedestrian access to the light rail station.

Trademark CM Corp. has taken over the former Craig Nassi-led condo project along 16th Avenue and Colorado Boulevard. Nassi, head of BCN Development LLC abandoned the project in 2004 amid growing difficulties regarding its development. BCN was the developer of high-rise condominium projects in the Golden Triangle area near the Denver CBD such as Beauvallon, The new developer has begun site work for the 112-unit Colorado Commons apartments.

The site of Mt. Gilead Baptist Church at the northwest corner of South Monaco Parkway and East Cedar Avenue has been proposed for rezone by Alpert- Eisen Development LLC to permit a major mixed-use redevelopment. 250,000 SF of residential condominiums, 12,000 SF of retail space and 10,000 SF of office space would replace the church. The condominium towers would be up to 99' high. The Denver Planning staff has recommended that the Planning Board approve the plan.

A Staples office supplies store has opened in the former space of Eastern Mountain Sports next to Wild Oats and near Home Depot on Colorado Boulevard. No word yet on any impact there of the recent sale of the Wild Oats chain to Whole Foods.

A lease agreement with Pura Vida Club and Spa has been inked for One Fillmore Place, the former Tattered Cover building in Cherry Creek North. The new tenant is to open in January 2008 and will occupy over 30,000 square feet in the 2nd, 3rd, 4th, part of the 1st floor and the basement. Some 18,000 SF of remaining space in the building is in negotiation to an as yet undisclosed tenant.

  Denver Council Member Jeanne Robb has found funds in various places in the City's budget to partially cover the cost of proposed pedestrian improvements along East 1st Avenue between the Cherry Creek Shopping Center and the Cherry Creek North Business Improvement District. The proposed improvements include repaving with accent surfaces, countdown crosswalk signals and consolidation of the double crosswalk at Fillmore Street into one crosswalk easier for both pedestrians to use and cars to avoid. Could a shortfall be funded by the Shopping Center and the BID?

The Young Americans Financial Center based in Cherry Creek has named Matt Lynett as its new president. Lynett is a former president of Wells Fargo Bank. Barbara Danbom, the previous president will care for older parents. The Center includes the Young Americans Bank, which was developed by cable TV pioneer Bill Daniels to promote financial education of children and is now funded in part by the Daniels Fund also based in Cherry Creek. Linda Childears, also a former president of the Financial Center is now president of the Daniels Fund.

The land under the retail/office building at the 3003 East 3rd Avenue at the NEC of East 3rd Avenue/Milwaukee Street sold in February to the owner of the building on the site. The sale price of $3,000,000 is equivalent to $160/SF for the 18,700 SF site, but the price was likely affected by the existence of a ground lease.

The 10-story office building at 655 Broadway sold in February to the Denver Health and Hospital Authority. The primary facility of Denver Health is nearby at 8th/Speer Boulevard. Built in 1956 the 75,600 SF building sold for $7,000,000 or $93/SF.

Boulevard Centre II at 1545-95 South Colorado Boulevard sold in April. The 2-story 61,000 SF center is just north of the Safeway anchored Boulevard Center I, includes Lamps Plus and sold for $18,345,000 or $301/SF.

The 192-unit Lowry North Apartments at 8101 East 11th Avenue in Denver was purchased recently for $24.43 million, or $127,219/unit by Union Partners Realty Group.

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