Denver's status as one of the country's top spots for relocation ended right after the Covid pandemic, when housing costs skyrocketed, downtown suffered due to high office building vacancies and shuttered businesses, and wages could no longer keep up with the high cost of living. Apartment vacancy rates are higher, and empty lots once destined to be apartments and offices are now no longer financially viable. However, the Cherry Creek neighborhood is the one exception. It is growing by leaps and bounds, with office buildings, condos, and luxury apartments going up all over the neighborhood. This is a very upscale area, and so affordability is not an issue for the targeted market. The photograph on the left shows Cherry Lane under construction. It is a mixed-use project "envisioned as a luxury, pedestrian-friendly district blending high-end retail, dining, offices and retail." A few blocks to the east, the Waldorf Astoria Residences is being built, described as "a luxury residential development reinforcing Cherry Creek's high-end positioning."
And right across the street from Cherry Lane, Cherry Creek West, a 13-acre mixed use development that will provide 840 residences, 600,000 square feet of office space, 100,000 square feet of retail, along with walkability and green space, is under construction, as seen in the photograph on the right. Those green spaces will connect the North Cherry Creek District with the Cherry Creek waterway, which will make it a very pleasant place to walk or bike. The developers describe it as "an integrated live-work-play environment." For most of us, however, although we might be able to play or even work in Cherry Creek West, actually living there might involve winning Power Ball or the Mega Millions lottery.
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