DENVER - Western Development Group is pleased to announce the start of construction of 250 Columbine, a $100 million mixed-use development in the heart of Cherry Creek North that will generate an estimated 750 construction jobs.
The project called 250 Columbine will include an 80,000 square foot office building (which will be ready for delivery for tenant improvements in the late 4th quarter of 2014), 70 condominium residences (the only "For Sale", new construction condominiums in the Cherry Creek North area, ready for delivery in the late 1st quarter of 2015) and approximately 30,000 square feet of retail space, all over two levels of underground parking. Denver-based PCL Construction is the general contractor for the project, and OZ Architecture, also of Denver, is the architect.
"We're looking forward to delivering another high caliber project to Cherry Creek North, that will generate a significant number of new jobs both during and after the construction process," David Steel of Western Development Group said. "We're confident that Cherry Creek North is viewed as Denver's most desirable location, especially among many of the world's very best businesses and retailers who want to establish a Denver address. Our NorthCreek development, located just a few blocks away, is evidence of the attention Cherry Creek North is garnering: it is fully leased, with a list of tenants that include some of the finest brands in fashion."
With positive signs for business growth (please see below), Western Development Group worked diligently to ensure that 250 Columbine would be a good fit for the Cherry Creek North Neighborhood. The development team met with the various Registered Neighborhood Organizations, as well as several governmental agencies, over a two-and-a-half year period that culminated in a unanimous positive vote at City Council, allowing the project to proceed.
Following another strong sales tax report and an influx of new businesses in 2012, the Cherry Creek North Business Improvement District (BID) continues to produce positive economic results for Denver.
The City & County of Denver recently released 2012 year-end figures showing Cherry Creek North sales tax collections improved nine percent higher in 2012, compared with 2011. The largest sales category for the Cherry Creek North BID (restaurants and hotels), reported an increase of six percent, while the second largest category (clothing and accessories), had collections 11 percent higher in 2012.
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