A development company backed by Christian Anschutz, the youngest child of Denver financier Philip Anschutz, on Tuesday unveiled the first phase of a highly visible $100 million residential and retail development in Cherry Creek North.
The project – called NorthCreek – will feature a six-story curved glass building with five floors of high-end condominiums above one floor of stores. Prices for the condos are expected to start at $800,000. A 240-space underground parking garage also is planned.
The building is scheduled for completion in the spring of 2007.
Christian Anschutz’s company, Denver-based Western Development Group, acquired the site earlier this year. It is next to the $150 million Clayton Lane development and across East First Avenue from Cherry Creek Shopping Center’s Neiman Marcus store.
The block, formerly home to a Larry’s Shoes store, was acquired from a subsidiary of the company that owns the Denver Technological Center. The site is bordered by East First and Second avenues, Fillmore Plaza and Detroit Street.
Tuesday’s groundbreaking attracted several dozen spectators and participants, including Denver Mayor John Hickenlooper, who addressed the crowd.
“Great cities are made up of great neighborhoods,” Hickenlooper said. “This is a first-class location, and Cherry Creek is part of what makes Denver a great city.”
Other speakers included Denver City Councilwoman Jeanne Robb and Mark Schtul, president and chief executive of the Cherry Creek Business Improvement District.
This is the largest project to date for Anschutz, 30, who graduated from the University of Colorado in 2000 with a history degree. Previously, he headed the redevelopment of 200 Fillmore, a nearby commercial office building.
His father – the oil, rail and real estate magnate who also founded Qwest Communications – is not financially involved in NorthCreek.
Companies controlled by Philip Anschutz own the largest movie-theater chain in the country, several professional sports teams, a movie production company and daily newspapers in San Francisco and Washington, D.C.
The elder Anschutz has served as a sounding board for business ideas, Christian An schutz said Tuesday.
“He’s been a tremendous mentor and role model,” Anschutz said. “I’ve seen a lot of developments from the periphery, so this is now an opportunity to be involved every day.”
Asked if his father provides feedback, Christian Anschutz said yes, then added, “He’s just happy I have a job.”
Anschutz has two older sisters, both of whom live and work in Denver.
NorthCreek’s architect is Humphries Poli Architects, and the general contract is The Weitz Co. The Laramie Co. is handling retail leasing, and Coldwell Banker Previews is handling residential sales.
Staff writer Will Shanley can be reached at 303-820-1260 or wshanley@denverpost.com.
