Last week, the Denver Planning Board recommended approval for two office buildings in Cherry Creek to be rezoned from C-MX-3 to G-RX-5.
Currently, 3400 E Bayaud Avenue consist of a 28,500 square foot site improved with a 4-story office building built in 1978, while 121 S. Madison Street consist of a 12,500 square foot site improved with a 2-story office building built in 1960.
The owner, Travis McAfoos has owned the properties for over eight years and has been working on this redevelopment plan ever since.
According to Travis's Linkedin page, he was previously the principal of Kentro Real Estate and is currently the managing partner of Piedra Peak Properties and Founder of Alchemy Creative Workspace.
The current C-MX-3 zoning permits a variety of commercial and residential uses up to three stories. However, with the requested zoning change, a 5 story building with ground floor commercial and upper level residential units can be constructed upon the site.
This property features a fantastic location adjacent to Pulaski Park, Cherry Creek Park, the Gates Tennis Center and the Cherry Creek Shopping Center.
The closest eatery will be Chopper's Sports Grill, located at the corner of S Madison St & Bayaud Ave, who we imagine will be thrilled with the influx of new patrons once the development is complete.
The proposed project makes perfect sense for the location and adheres to the Denver Comprehensive Plan 2040. However, not all residents are looking forward to the project.
With every new development, comes increased traffic and congestion. However, since the property has access from two streets, traffic should flow more naturally than if there was one entry/exit point.
Considering the project is still in the early stages, renderings have not been released yet. We'll be sure to check back with any updates!