Plans For Two 30 Story Towers In Cherry Creek

Dated: September 11 2014

Views: 844

Denver’s latest apartment complex won’t be located in LoDo, but it will rival some LoDo buildings in height.

Two 30-story apartment towers are planned for a site near Cherry Creek currently inhabited by Country Club Gardens, an existing apartment complex at 1001 E. Bayaud Ave. The development will bring a total of 550 units to the neighborhood.

The developer, The Broe Group, will demolish a portion of the existing Country Club Gardens building, leaving part of the historic property intact, at least on the outside.

Those existing units that remain will have their interiors renovated, to include air conditioning, upgraded electricity and other modern amenities. The apartments were originally constructed in the 1940s.

Plans for the project have been heard by Denver's Landmark Preservation Commission, which oversees development around historic buildings.

About 80 percent of the existing apartments on the site will be preserved and renovated, said Carl Luppens of The Broe Group, a Denver-based real estate and development company founded by Pat Broe.

Construction of the towers, which will encompass about 501,000 square-feet, can go forward without further hearing by the city of Denver neighborhood and planning commission or the city council, said Chris Nevitt, City Councilor for south Denver, including Cherry Creek. The development falls within standards adopted in 2001 and amended in 2007 for construction on the site, he said.
Broe has owned the property for decades, Luppens said, and got pre-approval on the project 12 years ago.

Zoning for the 6.5-acre parcel allows for two towers up to 300 feet tall, according to city documents. Each of the buildings planned by Broe is 300 feet tall, with “step-backs” at different height intervals, which mean that the buildings are narrower at the top than the bottom.

The property is not located within the boundaries of the new Cherry Creek zoning changes.
Community gatherings, as well as public meetings of the Landmark Preservation Commission, have been held to gauge community opinion on the development, Luppens said.

The community around the development hasn’t taken much issue with the project, Nevitt said. There has been “some grumping,” he said, by those who did not live in the area when the development standards were passed, but others recognize the need to build high-density projects in Denver to accommodate the droves of new Denver residents who move to the city every year.

People want to live in Denver, Nevitt said, or at least work or find their entertainment in the Mile High City.

“People are going to come into our city, and if they have to drive to get here, they’ll clog our streets,” he said.

Constructing projects that will allow people to live in Denver will increase the likelihood that those people will walk, bike or use public transit instead of driving everywhere, Nevitt said.

The new Country Club Gardens project will also bring 1,000 parking spaces to the neighborhood, said Luppens.

An estimated project cost is not yet known, but the going rate for developing apartment complexes such as those planned for Country Club Gardens is about $300,000 per unit. With 550 units that cost $300,000 each, the math works out to $165 million.

The project must get one final approval for some of its design elements from the Landmark Preservation Commission, a process which should take a few weeks, before permits can be pulled, Luppens said.

Denver Colorado Realtor -Michael Steffen 
Michael is a motivated realtor specializing with investors and new home buyers located in the following areas; DenverArvada Aurora Bennett Byers Castle Pines Castle Rock Centennial Cherry Hills Village Columbine Valley Deer Trail Denver Elbert Englewood Franktown Greenwood Village Highlands Ranch Larkspur Littleton Lone Tree Parker Sedalia Sheridan Strasburg WatkinsWheat Ridge, Lakewood, Castle Rock, Thornton, Westminster, Evergreen, Golden. Michael Steffen 
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Generation Property Group

My name is Michael Ross Steffen. I’m an Exit Realty Cherry Creek Agent in the Denver metro area and Team Leader For Generation Property Group! We specialize in advanced Internet marketing, buying, s....

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