Cherry Creek North Mall Approves Multi-Million Dollar Facelift
May 25, 2009 by Brian Kinkade
Filed under Business & Finance
The Cherry Creek North shopping district will soon undergo a multi-million dollar facelift – its first major renovation in 20 years. The upscale 16-block shopping area is home to more than 300 galleries, boutiques, restaurants and spas.
Voters in the Cherry Creek North Business Improvement District approved the $18.5 million capital improvement project to put the area in prime position as the economy starts to rebound, reports Joseph Kirchmer for YourHub.com. The renovation will also make Cherry Creek North more competitive with other outdoor shopping districts in the metro Denver.
Among the improvements, the district will repave aging sidewalks, fix up intersections, plant hundreds of new trees, replace existing light poles and add more public art. The renovation will enhance the shopping experience of walking along the streets from store to store.
The 14-month project is expected to begin in the fall, but it may be postponed to early next year to ensure construction is carefully managed and to minimize disruption to businesses. The district hopes to model the project after a similar renovation effort under way in the ski resort town of Vail.
It’s great to see the money for commercial property improvement start to flow again. In the past few years the commercial sector has really suffered from the banks unwillingness to lend. I think this has been short-sighted. Already we’re seeing strong signs of life in the San Diego real estate market. Prices are up for several months in a row. Denver is a great real estate market and it will always be in very high demand. Keep it up!