A Cherry Creek Game Changer Has Launched
Denver-based real estate and community developer East West Partners has announced that it is launching a transformative redevelopment of the land immediately west of the Cherry Creek Shopping Center in Cherry Creek.
This property consists of Brio, Elway’s, former Container Store, former Bed Bath & Beyond and the parking lot where the Farmers Market is held. It’s 13 acres total and about 9 city blocks. Construction is anticipated to start in 2023 and the timeline for the buildout is still very much TBD, but the first phase of completion is expected within five years, with total completion probably more like 10 years.
As owners of the land and adjacent Cherry Creek Shopping Center, the Buell Foundation and Taubman Realty Group are key collaborators, providing important feedback and guidance on master planning efforts. The project, christened Cherry Creek West, will span from University Blvd. to Clayton St. and from 1st Ave. to the Cherry Creek waterway. The endeavor will build upon the City of Denver’s planning efforts to ensure a connected, distinctive and prosperous Cherry Creek area through the creation of a vibrant neighborhood to be completed over the next decade.
“We will create a neighborhood that enhances the entire community by bringing it together with the creek and the shopping center, with a focus on people over cars,” said Amy Cara, managing partner of East West Partners. “We are thrilled to bring our vision for a vibrant new 15-minute neighborhood to life on this prominent piece of real estate.”
The preliminary plan includes seven buildings with a mix of office, residential and retail plus a vibrant public area with an amphitheater and market square.
“As a local company who also served as co-master developer of the Union Station Neighborhood, we will create a terrific place to live and work that puts the pedestrian first, embraces the outdoors and is at the forefront of sustainability,” said Chris Frampton, CEO of East West Partners. “Cherry Creek West will create a place that can be an asset to everyone as the neighborhood’s new front yard and a new gateway to the community.”
East West Partners will supplement the planning efforts to date by engaging with the community to gather key perspectives. A dedicated website – www.CherryCreekWest.com – will provide detailed information in the coming months.
“This project will be a wonderful addition to the Denver market. It will create significant value for our Foundation that will enable us to continue to serve our mission of supporting positive early childhood health, education and development throughout our Colorado community,” said Tom McGonagle, Buell Foundation board member.
Added Darryl Herring, Taubman’s vice president of development and construction: “Our shared vision for Cherry Creek West is exciting and will benefit both the Cherry Creek neighborhood and the Cherry Creek Shopping Center, which is already one of the nation’s strongest regional shopping malls. We look forward to working with East West Partners as they create a new community for everyone to enjoy.”