Trammell Crow Residential will soon start building an eight-story apartment tower at 3300 E. First Ave. in Cherry Creek, adding 164 units to the market, and associated redevelopment will add retail space to the area.
Trammell Crow plans to break ground this month, with completion expected in mid-2017.
The apartment complex, to be called Alexan Cherry Creek, will be located at East First Avenue and Cook Street. The site was formerly home to a one-story parking garage for an adjacent office building, which will get a redeveloped ground floor.
“This was an extremely unique opportunity in the Cherry Creek submarket that came with several layers of deal complexity, including replacing a parking requirement for an existing office building and a re-zone,” said Chris Cowan, lead broker with ARA Colorado’s Land Services Team, which represented the seller, Ogilvie Properties Inc.
“In the end, Ogilvie Properties and TCR were able to see the bigger vision and success of a mixed-used development and able to overcome all obstacles. This will be an irreplaceable asset for TCR,” Cowan said.
A parking structure will be included in the development that will cater to office and apartment users, as well as patrons of retailers that will be added by Ogilvie to the ground floor of the existing office building.
For more information about the retail portion of this property, click here: http://www.creginc.com/pdf/Denver_3300E1stAve.pdf