Denver-based BMC Investments has acquired three new properties in Cherry Creek North and is planning projects with a total cost estimated at over $180 million. These projects have already been presented to the neighborhood association and community stakeholders. Additional presentations will follow as plans progress. All three projects will conform to the new C-CCN zoning without any requested exceptions, as stated in today’s press release.
“It is our goal to engage all stakeholders during the design and planning process to ensure that each project meets the goals and objectives of the neighborhood and is consistent with its character and context,” said Matt Joblon, CEO of BMC Investments.
BMC Investments also developed the 218-unit Steele Creek apartments that recently opened on the southeast corner of 1st Avenue and Steele Street in Cherry Creek.
The first project is on 240 Josephine, which is a 12,500 square foot site that will house a 165-room limited service, branded micro hotel project. BMC is in the process of finalizing the brand and franchise agreements for the property. JNS Architects is designing both the exterior and interiors of the project. GE Johnson is the general contractor.
The two other projects are 210 St. Paul, which is a 25,000 square foot site on the NE corner of 2nd and St. Paul which is currently a DXL men’s store. The third project is 3000 E. 3rd Avenue, which is a 63,750 square foot site that is currently a large parking lot and a 34,400 square foot retail center known as Cherry Creek Square. Both properties, although in early planning phases, are anticipated to be luxury mixed-use projects consisting of ground floor retail, topped by large condo quality for rent apartments. 4240 Architecture is designing the exteriors and StyleWorks is designing the interiors for both properties. Saunders Construction is the General Contractor for both 210 St. Paul and 3000 E. 3rd Avenue.
The three projects will be developed by BMC Investments. With these projects, BMC has invested over $350 million in Cherry Creek alone.
“We strongly believe in the long term vitality of Cherry Creek North. These projects will further cement Cherry Creek’s stature as the pre-eminent address in Denver and help it ascend to rival the best residential and shopping districts in urban coastal markets,” says Joblon. “The hotel will bring a new modern lodging option to Cherry Creek, targeting the value-oriented hotel guest. The new residential offerings will set new market-wide standards for excellence in programming, design, finishes and amenities for residential living. In addition, the retail components of these projects will bring to market the premier urban retail leasing opportunities in Denver which will attract some of the top restaurants and retailers in the U.S. that do not currently have a presence in Denver.”