DevelopmentMultifamilyOfficeRetail

New Business Alliance Forms to Further the Growth of Cherry Creek

On Monday, May 16, Cherry Creek’s four major business groups announced the formation of a new not-for-profit partnership, the Cherry Creek Alliance. Collectively, the partnership will work toward improvements and opportunities to further the growth of Cherry Creek, with a focus on business engagement, public policy and economic development.

The four neighborhood entities include Cherry Creek North, the Cherry Creek Chamber of Commerce, the Cherry Creek Leadership Council, and the Cherry Creek Shopping Center.

“We’re experiencing a time of incredible growth and development throughout the neighborhood,” said Nick LeMasters, Cherry Creek North president and CEO. “As greater Cherry Creek continues as a key contributor to the Denver economy, it is important to our business community and local stakeholders that they have a seat at the table when it comes to policy, investment and decision-making. This is what the Cherry Creek Alliance will do in the months ahead.”

Each yeay, Cherry Creek’s more than 1,000 businesses generate over $57 million in tax revenue for the City and County of Denver. The neighborhood also attracts more than 15 million visitors each year and is responsible for more than 17,000 jobs.

The Cherry Creek area has a robust list of development projects on the horizon, with the announcement of East West Partners’ $1 billion mixed-use development project called Cherry Creek West. In addition, BMC Investments’ 255 Filmore Street broke ground in April 2022 and will bring 100,000 square feet of office and retail space to the area in Fall 2023. Further, a legacy project at 252 Clayton Street has the potential to add another 215,000 square feet of office and retail space. These development projects, along with future developments attracted by the Cherry Creek Alliance, will continue to grow and evolve the offerings of one of Denver’s most vibrant and economically strong neighborhoods.

Cherry Creek North has always been a hub for independent businesses, with more than 70 percent of its retail stores locally owned. Of these locally owned businesses, 20 percent have been in operation for more than 15 years and 50 percent are owned by women. The Cherry Creek Alliance remains committed to retaining the legacy and authenticity of the area as it looks toward fostering new opportunities and development.

 

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