Another construction site is active in Cherry Creek.
Englewood-based Stonebridge Cos. has brought down an office building at the corner of Milwaukee Street and 2nd Avenue in Cherry Creek to make way for a 201-room hotel. Heavy construction machinery now occupies the former 1960s building site.
Stonebridge’s latest plans, which the city hasn’t yet approved, call for a single eight-story building. The property would have about 3,300 square feet of retail space and about 156,500 square feet of hotel accommodations. Plans also show a rooftop pool with a covered patio area.
Architecture firm Gkkworks is designing the Stonebridge hotel.
The half-acre site previously housed the Rollnick Building, a 27,000-square-foot office building. Stonebridge bought the property for $8.1 million in 2014.
Stonebridge’s hotel will be at least the third hotel going up in Cherry Creek. BMC Investments and Sage Hospitality are building an upscale hotel called the Halcyon, as well as a limited service hotel dubbed Moxy between Columbine and Josephine streets.
Crosbie Real Estate Group is listing 4,000 SF of new retail space available at this location. For more information, click here.
As we all know, Cherry Creek is going through a significant infill boom with apartments, hotels, and office buildings going up all over the neighborhood. Along with the boom, there are also a few great minor projects that are underway which we will be focusing on in this post, primarily a project on 1st Avenue and Cook Street, the same block as the Alexan Cherry Creek project.
In any great urban neighborhood, the street level is the most important aspect given that’s where the pedestrians are. These new immaculate, glassy buildings have the potential to be a total failure if there are blank walls along the street, or small parking lots occupying the corners. Luckily for the Cherry Creek neighborhood, that’s not the case.
Developers in Cherry Creek are actively pushing retailers and projects to the corner to help improve the urban form of the neighborhood. Two very recent examples are the Room and Board on 2nd Avenue and Detroit Street and the Restoration Hardware on 1st Avenue and Fillmore Street. The Room and Board expanded to the street corner, supplanting the surface parking lot next door and the Restoration Hardware was extended from the Cherry Creek Mall and pushed to the street edge along 1st Avenue.
1st Avenue, with wide roads and complicated intersections, is a bit messy to pedestrians but that’s not stopping anybody from making it a better street for those on foot. Built in 1980, 3300 East 1st Avenue was built with parking and easy automobile accessibility. Present day, the parking structure that was built with this building is being replaced by an 8-story apartment project, and the office building is now receiving a ground floor retail addition.
Along with the retail addition, new curbs, sidewalks, and landscaping are also going in, drastically improving this stretch of 1st Avenue.
A neighborhood that was once automobile oriented is slowly turning into a multi-modal corridor. Now all we need to work on is some dedicated transit to serve this area better!
For more information about 3300 E 1st Ave, click here.
Wal-Mart Stores Inc. — facing growing competition and pivoting to e-commerce sales — will close 269 stores worldwide, including two in Colorado.
The company — the nation’s largest retailer and Colorado’s biggest private employer — says 154 of the stores to be closed are in the United States. The company said about 10,000 of its U.S. workers will be “impacted” by the closures.
Two Colorado stores are slated to close, both in the Neighborhood Market format:
The Arkansas-based company (NYSE: WMT) — which operates the Walmart and Sam’s Cub chains — employs some 25,000 people in Colorado.
“Actively managing our portfolio of assets is essential to maintaining a healthy business,” President and CEO Doug McMillon said in Friday’s announcement. “Closing stores is never an easy decision, but it is necessary to keep the company strong and positioned for the future.”
The company said it considered “financial performance as well as strategic alignment with long-term plans” among other factors in deciding which stores to close. Almost all of the U.S. stores to be shuttered are within 10 miles of another Wal-Mart location.
About two-thirds of the U.S. locations to be closed are Walmart Express stores, the chain’s smallest format.
Wal-Mart has some 11,600 stores around the globe, with 4,500 in the U.S.
Nationwide, Wal-Mart still plans to open anywhere from 142 to 165 new U.S. stores in the fiscal year that begins Feb. 1, most of them in its Neighborhood Market format.
“It’s important to remember that we’ll open well more than 300 stores around the world next (fiscal) year,” McMillon said. “So we are committed to growing, but we are being disciplined about it.”