Colorado Blvd. becoming hot address for development - Denver Business Journal:

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Projects range from the$10 million renovation and expansion ofthe 210-room to Shea 32-acre, multiphase residential and commercial project gettinh started next to the UCHSC. Three projects under way on Coloradl are inGlendale — a new Walgreens store, a retai l center at 1000 Colorado Blvd. and the Cherry Creemk Hotel redo — and they’re significanty for that city. “We look at traffi c counts on Colorado and there’s just no drop-off,” said Chuck deputy city manager of Glendale. “Colorado is our economif engine.
” Colorado Boulevard south of Cherry Creeo Drive alonegets 62,662 vehicles per day, accordin g to the Denver Regional Councik of Governments. Emich Volkswagen General Manager Fred Emicy bought hiscar dealership, which is finishing a new on Colorado near Louisiana Avenus a few years ago largely because of its central locatiob and high traffic. “It’s a great location for us,” he • Park Hill Village, Colorad and East 40th Avenue — Landon Enterprises Ltd. finished constructioj on this 19,000-square-foot, $5 millionh retail center this past summer. Tenants include Carl’a Jr. and KT’s Real Good BBQ restaurants plus a Starbucksacoffee shop.
Already-built space and a pad site still are available. • Colorado Commons , 1601 Colorado Denver-based Trademark CM Corp. took over local condop developer Craig Nassi of BCNDevelopment LLC’s planned Aura condoo project near City Park in 2007, and is buildint the Colorado Commons apartments there. The $12 million apartment project nearly is and tenants are expected to star moving inthis fall, according to • Metropolis , 1011 Coloradlo — Boutique Apartments of Denver finished convertingh this 12-story, former U.S. Department of Housingv and Urban Development buildingto new, condo-type apartments this adding new flooring, kitchens and bathrooms.
Each flootr at Metropolis has a different city from New York to The one- and two-bedroom apartments, which come furnished and at the 71-unit property rent for $895 to $2,500 a “We’ve seen a shift on Colorado,” said Boutiquse Apartments President Grant Barnhill. “Therde used to be a stigma but people now want to be close to the revitalizatio n of pockets of Colfax andCherry Creek.” 9th and Colorado, Colorado & East Ninth Avenue — This developed by subsidiary Shea Neighbors, is Shea’s redevelopment of the UCHSCd campus on Colorado. (The health sciences center movede to the Fitzsimons projectin Aurora.
) Plans for the 32-acre new project call for rental and for-sale a small grocery store, retail space (including restaurants) and Shea has been demolishint buildings at Colorado and Ninth, including the one that include d the old Annie’s Cafe, and is preparin the land for (Annie’s Cafe moved to the formerd Good Friends restaurant at 3100 E. Colfax Shea plans to start constructiohn on phase one of theproject — whicbh will run north of Ninth from Colorado to Bellaire Street in February 2009, according to the • Walgreens, Colorado and East Alameda Avenue — A new Walgreenes drugstore has nearly finished construction in a little more than half of a former store, according to the City of Walgreens plans to sublease the 11,500 square feet it won’t use.
The city has no openinh date forthe drugstore. PetsMart moved into former Mervyn’ss space near a neighboring SuperTarget stores earlierthis year. • Cherryg Creek Hotel, 600 S. Colorado —Englewood hotel owner/operator bought this 210-room formerly a Four Pointes by Sheraton, in 2007, and is refurbishinhg and expandingthe property. Phase one, whicbh is under way, includesw modernizing the existing, closed hotek inside and out as well asadding 10,600p square feet of “high-profile” retail space, such as in front. The first phase is scheduled for completion infall 2009.
Phasew two involves adding more retail space and anothed 210 rooms or so to the east side of the and is slated to be finishedin 2012. “Itf will be like a brand new hotel,” said Stonebridgr President Navin Dimond.