Cherry Creek Redevelopment: Denver’s Transformative Urban Revival

A rendering of the planned Cherry Creek West redevelopment, showing a widened Cherry Creek trail with pedestrians and cyclists alongside new mixed-use buildings and lush landscaping – part of the broader Cherry Creek redevelopment master plan.

Master Plan Overview: A New Chapter for Cherry Creek

Cherry Creek, one of Denver’s premier neighborhoods, is in the midst of an unprecedented redevelopment surge that will reshape its skyline and streetscapes by the end of the decade. The master redevelopment plan for Cherry Creek is not a single project, but a coordinated wave of at least ten major projects spanning a 16-block areaglendalecherrycreek.comglendalecherrycreek.com. Together, these initiatives aim to transform Cherry Creek from a low-rise shopping district into a dense, vibrant 15-minute community where people can live, work, and play without leaving the neighborhoodcherrycreekwest.comcherrycreekwest.com.

At the heart of the plan is Cherry Creek West – a monumental mixed-use development on a 13-acre site west of Cherry Creek mall. Approved by Denver City Council in late 2024, Cherry Creek West will replace vast surface parking lots and the old Bed Bath & Beyond building with seven new buildings up to 13 stories tall, containing over 800 residential units along with offices, retail, and extensive open spacedenverite.comdenverite.com. This project alone is projected to create 50% of new jobs and 30% of new households in the Cherry Creek area through 2040glendalecherrycreek.com. Plans call for reconnecting the neighborhood to the Cherry Creek waterway via improved bike/pedestrian trails and parks, making it a focal point of the redevelopment’s emphasis on walkability and green spacedenverite.comdenverite.com. With broad community support – 90 letters in favor vs. 17 opposed during council review – Cherry Creek West exemplifies the collaborative planning ethos driving the area’s renewaldenverite.com.

Complementing Cherry Creek West are numerous infill projects across Cherry Creek North and Cherry Creek East. The vision is guided in part by updated zoning (in place since the Cherry Creek Area Plan and Denver Zoning Code revisions) that encourages mixed-use development while stepping building heights down toward surrounding residential zonesccnneighbors.com. Along 1st Avenue (the neighborhood’s southern edge near the mall), new buildings can reach 8 to 12 stories, whereas the northern edges of Cherry Creek North are capped at 4 stories to respect the adjacent low-rise areasccnneighbors.com. This graduated zoning has concentrated taller projects in the core and south-western part of the district, allowing Cherry Creek to grow vertically without a jarring wall of high-rises.

City planners and the Cherry Creek Neighborhood Association have worked closely with developers through design review boards and community meetings. A Cherry Creek Steering Committee even negotiated a community benefits agreement for Cherry Creek West, securing commitments like 99 units of affordable housing (about 12% of residential units) and extra contributions to the city’s affordable housing funddenverite.comdenverite.com. These planning efforts underscore a central theme of the redevelopment: growth is welcome, but it must enhance Cherry Creek’s character and livability. By concentrating new density around open plazas, pedestrian promenades, and the creek, the master plan aims to maintain Cherry Creek’s appeal as an upscale, human-scale district even as it becomes Denver’s “second downtown” in economic termsglendalecherrycreek.com.

Zoning and Planning: Enabling Smart Growth

The current redevelopment wave is made possible by deliberate zoning and planning decisions that encourage higher density and mixed uses in Cherry Creek. The Cherry Creek neighborhood is primarily governed by Denver’s C-MX (Mixed-Use Commercial) zoning with varying height overlays (e.g., C-MX-8, C-MX-12) that permit mid-rise and high-rise structures in key locationsccnneighbors.com. For instance, the zoning along 1st Avenue (bordering the mall) allows up to 12 stories in certain parcels, tapering to 8 stories moving north, which is why projects like the planned 12-story apartment tower at 50 S. Steele St. and the 8-story office at 201 Fillmore St. are permissibleglendalecherrycreek.comglendalecherrycreek.com. These zoning envelopes were established by city planners to balance growth with preserving sight lines and the charm of the area. Notably, when one developer initially sought to exceed these limits (PMG’s attempt at 8 stories for the Waldorf Astoria site in a 5-story zone), they faced community pushback and withdrew the rezoning request, opting to comply with the five-story maximumglendalecherrycreek.combusinessden.com.

Denver’s planning department has also streamlined approvals for projects that meet design standards and provide public benefits. Design review boards in Cherry Creek ensure that new buildings incorporate high-quality materials and pedestrian-friendly elements, in line with Cherry Creek North’s upscale ambiance. For example, developers are often asked to include setbacks for upper floors or open plazas. In one case, the Cherry Creek North design board requested massing reductions and more open space for the Waldorf Astoria Residences project to better blend with its neighborsglendalecherrycreek.comglendalecherrycreek.com. Such feedback loops between planners, community, and developers have led to refined designs that align with the neighborhood’s vision.

Infrastructure planning is also part of the picture. Anticipating increased traffic, the city is examining improvements to streets and intersections. The redevelopment plan emphasizes multi-modal transit and walkability – many new buildings are reducing on-site parking in favor of encouraging biking and walking (for example, one planned residential conversion on 16th Street has zero new parking but ample bike storagedenverinfill.comdenverinfill.com). Cherry Creek West will introduce new internal streets and bike paths, breaking up superblocks and distributing traffic more evenlydenverite.comcherrycreekwest.com. Additionally, the City is leveraging tools like General Development Plans (GDPs) for large sites to ensure phased projects (like Cherry Creek West) include necessary public infrastructure and amenities at each stagecherrycreekwest.com.

In summary, smart zoning that allows taller, mixed-use buildings in the right spots, coupled with proactive planning (design guidelines, community benefits, and infrastructure upgrades), has set the stage for Cherry Creek’s redevelopment boom. The result is a neighborhood evolving according to a plan rather than ad hoc development – a plan that retains Cherry Creek’s status as Denver’s most desirable district while accommodating significant new growth.

Key Projects: Residential vs. Commercial Mix

A defining feature of the Cherry Creek redevelopment is the diverse mix of residential and commercial projects underway. The goal is to create a true mixed-use community. Here are some of the major projects and whether they lean residential, commercial, or a blend:

• Cherry Creek West (1st Ave & University Blvd) – Mixed-Use: As discussed, seven buildings up to 13 stories with 825+ residential units, 600,000 sq. ft. of offices, and 100,000 sq. ft. retailascentris.comascentris.com. Residential use is significant (including 99 affordable units)denverite.com, but commercial presence is strong too. This project will dramatically increase both housing and office inventory. (Phase 1 is expected by 2027glendalecherrycreek.com.)

• 201 Fillmore (Schnitzer West project) – Commercial: An 8-story, 130,000 sq. ft. office building with ground-floor retail and a rooftop restaurant, broke ground Nov 2023glendalecherrycreek.comglendalecherrycreek.com. It’s already leased to an energy firm moving from LoDoglendalecherrycreek.com. This adds modern office space (and 250 underground parking spots) to Cherry Creek North, cementing the area’s appeal to businesses.

• Former Sears & Crate & Barrel Site (2nd & Adams) – Mixed: This 9.4-acre parcel is being redeveloped in pieces. The old Sears department store will make way for a 5-story office and retail complexglendalecherrycreek.com, while the adjacent Crate & Barrel store is set to be demolished and replaced with a 5-story residential apartment buildingglendalecherrycreek.com. Developer BMC Investments is coordinating this, even relocating the Crate & Barrel store to enable constructionglendalecherrycreek.com. Completion is targeted around late 2025. Thus, the Sears/Crate site will have both new offices and roughly 300+ apartments, a microcosm of the live-work vision.

• 242 and 240 Milwaukee St. (BMC Investments projects) – Commercial and Residential: BMC is launching two projects on Milwaukee Street. At 242 Milwaukee, a 7-story building will offer 84,000 sq. ft. of office above ground-floor retailglendalecherrycreek.com. One block away, at 3rd & Milwaukee, an 8-story building will feature 156 luxury apartment units atop 30,000 sq. ft. of retailglendalecherrycreek.com. These twin projects (office vs. residential) by one developer show how Cherry Creek’s redevelopment isn’t one-dimensional – both Class A office space and upscale rental housing are rising in tandem.

• Broe Real Estate Group’s Developments: Broe, a major local developer, is undertaking multiple projects:

  • 250 Clayton St: an 8-story office building (175,000 sq. ft.) with retail, finishing ~2026glendalecherrycreek.com.

  • 252 Clayton St: planned 7-story office (future phase)glendalecherrycreek.com.

  • 50 S. Steele St: a proposal to demolish an aging 10-story office and build a 12-story 378-unit apartment complex with ground retailglendalecherrycreek.comglendalecherrycreek.com. This residential tower, directly east of the mall, would be one of the tallest in Cherry Creek and significantly boost the housing supply.

  • Additionally, Broe’s recent $225M acquisition of the existing 587-unit Seasons of Cherry Creek apartments signals confidence in the residential marketglendalecherrycreek.com.

  • In sum, Broe is adding both new office square footage and a large volume of apartments, reinforcing the mix.

• 2645 E. 2nd Ave (Alpine Investments project) – Commercial: A planned mixed-use office building (height likely around 4–5 stories) with ground-floor retail, to be built between the Cherry Cricket restaurant and the Clayton Hotelglendalecherrycreek.comglendalecherrycreek.com. It will necessitate partial demolition of a beloved local bar’s building, indicating the push-pull between new development and preserving local favorites. This is primarily an office/retail infusion.

• Luxury Condos – Waldorf Astoria Residences (2nd & St. Paul) and Others: The Waldorf Astoria-branded 5-story condominium project with 37 residences has a high profile (detailed in the first article)glendalecherrycreek.com. It’s wholly residential (with a restaurant and retail at ground level) and caters to the ultra-luxury segment. Another condo project of similar scale (37 units, $50M budget) is planned across from Cherry Creek Grill at 2nd & Steeleglendalecherrycreek.comglendalecherrycreek.com – indicating multiple condo developments in the pipeline. These contribute owned housing options (versus rentals) and tend to be boutique in scale due to Cherry Creek North’s 5-story height guideline.

• 155 & 165 Cook St. (Mill Creek Residential project) – Residential: A 6-story 110-unit apartment building replacing older offices, breaking ground in 2024 with completion in early 2025glendalecherrycreek.comglendalecherrycreek.com. This adds to the rental stock and is on the eastern side of Cherry Creek, showing redevelopment is not confined to the core.

As evident, residential projects (apartments and condos) are proliferating – from high-rise apartments like 50 S. Steele to mid-rise condos and apartments throughout Cherry Creek North and East. Simultaneously, commercial projects (offices and some hotels) are also rising – focusing on maintaining Cherry Creek’s status as a prime office submarket and retail destination. Notably, while downtown Denver office vacancy is high, Cherry Creek’s office scene is thriving (vacancy in Cherry Creek is about half the city’s averagecherrycreekalliance.com). Developers are seizing that demand by adding over 360,000 sq. ft. of new office space in the areacherrycreekalliance.com.

The net effect will be a balanced land-use mix: by late 2026, Cherry Creek will see hundreds of new homes (for rent and for sale) integrated with new workplaces, stores, and restaurants. This is deliberate – as one article put it, Cherry Creek is being converted from “simply a shopper’s haven” into a true live-work neighborhood with round-the-clock activityglendalecherrycreek.com. Projects like Cherry Creek West even include a farmer’s market plaza and 4 acres of open green space to ensure residents and workers have communal areasdenverite.comdenverite.com. In summary, the redevelopment isn’t tilting exclusively residential or commercial; it’s about creating a self-sustaining urban ecosystem with a rich blend of uses.

Real Estate Trends and Investment Implications

The redevelopment of Cherry Creek is both responding to and propelling real estate trends in Denver. One clear trend is the flight of businesses and investment capital to Cherry Creek from downtown. Over the past few years, Cherry Creek has solidified itself as an alternative urban core: companies have moved offices here, attracted by lower crime and a high-amenity environmentglendalecherrycreek.comglendalecherrycreek.com. Office lease rates in Cherry Creek North are among the highest in the city, and over half of the office inventory is Class A spacecherrycreekalliance.com. Investors have taken notice – for example, the Broe Group’s $225 million purchase of an existing apartment complex is one of the largest real estate transactions in neighborhood historyglendalecherrycreek.com, showing bullish sentiment on long-term property values. Likewise, national developers like East West Partners (of Union Station fame) and Shea Properties are actively building in Cherry Creek, indicating confidence that demand will meet the new supply.

For residential real estate, Cherry Creek’s luxury market is on an upswing. Average home prices are already above $2 million for the luxury segmentartquarterly.com, and projects like the Waldorf Astoria Residences (with condos starting at $1.2M+) will push the envelope furthermilehighcre.com. We’re seeing an arms race for luxury: a penthouse listing at $21 million in 2025bizjournals.com, new condos like “The Upton” (by Amacon) under construction near downtown boasting 461 condos starting in the low $400Ksdenverite.com, and Cherry Creek’s own mix of ultra-high-end and more moderately sized units (e.g., Mill Creek’s 885 sq. ft. average apartments for those wanting a more “manageable” sizeglendalecherrycreek.com). This range suggests the redevelopment is adding diverse housing stock – from attainable luxury to super-luxe – which can broaden the resident base.

In terms of investment, the return on development in Cherry Creek appears strong. Land in Cherry Creek commands a premium (PMG paid up to $1,322 per sq. ft. for some parcelsbusinessden.com), but the end-product sells or leases at top dollar. The pipeline of projects indicates developers expect solid absorption. For instance, new office buildings have anchor tenants secured (Antero Resources at 201 Fillmoreglendalecherrycreek.com), and condo projects are taking reservations well in advance (as noted with Waldorf Astoria’s pre-salesbusinessden.com). The neighborhood’s fundamentals – high retail sales, low vacancy, affluent clientele – give financiers confidence. Indeed, Cherry Creek accounted for nearly 5% of Denver’s total retail tax revenue in recent reportscherrycreekalliance.com, a remarkable figure for a relatively small area, underscoring its economic clout.

One implication of all this investment is that Cherry Creek’s property values and rents will likely continue to rise. As more Class A space comes online, older properties may be renovated or redeveloped in turn to keep up, creating a virtuous cycle of reinvestment. However, there’s awareness of not pricing out the very consumers that keep Cherry Creek vibrant. That’s partly why projects like Cherry Creek West include affordable housing and why the city pushed for community benefits – to ensure service workers can live closer to their Cherry Creek jobsdenverite.comdenverite.com. In the long run, a healthier mix of housing affordability could sustain the area’s workforce and retail sector.

Investors eyeing Cherry Creek also see it as a relatively stable bet in turbulent times. While downtown office markets struggle post-pandemic, Cherry Creek’s focus on mixed-use and lifestyle seems more resilient. The “18-hour city” concept (where neighborhoods are active beyond the 9-to-5) is fully realized here, which tends to support real estate values even during downturns. Should the broader market cool, Cherry Creek’s desirability may act as a buffer. That said, challenges remain: construction costs are high, and developers are juggling multiple projects – any economic hiccup could test whether demand truly matches the new supply. So far, indicators are positive, but stakeholders will be closely monitoring leasing and sales velocity through 2025–2027 as each project comes online.

Community Character and Future Outlook

Perhaps the most intriguing aspect of Cherry Creek’s redevelopment is how it will change the character of the community. Cherry Creek has historically been known for its upscale shopping center and the pedestrian-friendly Cherry Creek North retail district filled with boutiques, galleries, and cafes. As new buildings fill in, the area is evolving into a more urban neighborhood, which brings both excitement and some resident concerns. Long-time locals are “used to Cherry Creek being in constant change,” but even they were surprised by the sheer scale of recent proposalsglendalecherrycreek.com. In 2024, the Glendale Cherry Creek Chronicle dubbed it “a colossal year” of construction after seeing little happen on a few prominent lots for yearsglendalecherrycreek.comglendalecherrycreek.com.

On the positive side, the community stands to gain energy and amenities. More residents living in Cherry Creek means a livelier atmosphere in the evenings and on weekends – you’ll see lights on in apartments, people walking dogs (rather than empty streets after shops close), and a general buzz. The mix of new restaurants, rooftop bars, and possibly entertainment venues in these developments will enhance nightlife. Cherry Creek is already a dining destination; this will cement it as an all-day activity zone. Hotels and residences are also capitalizing on Cherry Creek’s cultural cachet – e.g., the lobby art and high-end services at the new buildings add to the cosmopolitan vibe.

However, with popularity comes growing pains. Traffic and parking are top concerns for community members. The influx of 1,000+ new housing units and numerous offices could strain the narrow roads. A local report cautioned that the developments are sure to “create transportation, traffic congestion, and parking problems” if not addressedglendalecherrycreek.com. In response, the city and developers are implementing mitigations: almost every project includes significant underground parking (201 Fillmore has 250 spacesglendalecherrycreek.com, most residential projects have 1:1 parking ratios or better) and improvements like new alleyways for loading (the Waldorf Astoria project is re-aligning an alley to improve traffic flowcherrycreek.lifeglendalecherrycreek.com). Cherry Creek West will introduce new street connections and is designed as a walkable grid, which should diffuse some congestion by providing alternate routescherrycreekwest.com. Additionally, the emphasis on bike lanes and transit could gradually reduce car reliance. Still, during construction and initial occupancy, residents should expect some construction detours and heavier traffic, a typical side effect of rapid urban development.

Another community consideration is preserving Cherry Creek’s identity and human scale. While taller buildings are coming, efforts have been made to avoid a canyon effect. Taller structures are spaced out and often set back at upper floors. The continued presence of locally owned businesses (Cherry Creek North has Denver’s highest concentration of local businessescherrycreekalliance.com) amid new development is also crucial. The Cherry Creek North Business Improvement District is actively working to support existing merchants through the transition, so the area doesn’t lose its unique local flavor in favor of only national chains. Public feedback has influenced designs – for instance, one developer pivoted a proposed office building at 2nd & Adams into a possible condo after community input, though that project remains on holdglendalecherrycreek.comglendalecherrycreek.com.

Looking ahead, Cherry Creek’s future is bright if a bit busier. By 2030, one can envision Cherry Creek as a mini-downtown: high-end condos and apartments with views of the mountains, office workers fueling lunchtime trade, shoppers still patronizing the mall and boutiques, and tourists choosing Cherry Creek’s luxury hotels over downtown’s. The redevelopment aims to ensure this growth is holistic. As Nick LeMasters of the Cherry Creek Alliance put it, these projects – including Cherry Creek West’s pedestrian-oriented design – will “enrich the locale” and underscore the area’s appeal and potential for growthcherrycreekalliance.com. In many ways, Cherry Creek is becoming a model for urban neighborhood revitalization, blending density with open space and luxury with local charm.

In conclusion, the Cherry Creek redevelopment is a sweeping, well-orchestrated transformation that balances residential and commercial expansion. It stands as a testament to Denver’s confidence in its neighborhoods and the effectiveness of thoughtful planning. If all goes as planned, the community will emerge more dynamic than ever – a place where sleek new buildings and beloved old haunts coexist, and where the convenience of city life melds with the ambiance of a tight-knit community. Cherry Creek’s evolution is far from over, but the path it’s on promises a district that is not only Denver’s most upscale, but also one of its most complete and compelling urban environments.