The biggest construction boom to hit the Cherry Creek North area in decades is happening now, thanks to developers interested in transforming the area into a full service love/work/play area of town. Currently there are plenty of restaurants and boutiques, but the area is lacking on residential offerings and office space. The first project for residential development will bring 70 condos, 444 apartment units, 13 floors of office space and ground floor retail outlet space. Cherry Creek North is a recognized shopping district and the added offerings of residential options will help the area to continue to blossom. The Cherry Creek North movers have found that the some of the neighbors in the area are hesitant to lose the strictly commercial feel of the neighborhood, but the overall consensus is that it will be for the better.
The first building for residential offerings is called 250 Columbine and it won’t be completed until 2015–and 25% of the building’s condos are under contract after a two week period of introducing the project. Zocalo Community Development’s project will offer 185 units that are about 910 square feet in size. Estimated rental rates are at just over $2,000 per month.