Denver’s Cherry Creek Shopping Center will be part of a $250 million update by its owner, Simon Property Group.
Simon announced Wednesday that Cherry Creek and two more of its properties — The Mall at Green Hills in Nashville, Tenn., and International Plaza in Tampa, Fla. — will undergo work starting this year.
“This investment reflects Simon’s focus on strategic redevelopments to create vibrant, modern environments that cater to today’s shopper,” Eli Simon, chief operating officer, said in a statement.
Simon, based in Indianapolis, said the redevelopment will follow investments at the Southdale Center in Minneapolis, which included a new luxury wing alongside experiential retail and lifestyle offerings.
At Cherry Creek, the company plans a “statement-making redevelopment” that will introduce modernized flagship spaces, refined architectural updates and upgraded storefronts.
“These centers are already top retail destinations in the country,” said Eric Sadi, Simon’s co-president of North American Real Estate.
Cherry Creek Shopping Center has more than 160 stores and restaurants. Stores include Tiffany & Co., Burberry, Louis Vuitton, David Yurman and Tory Burch. Additional stores are Restoration Hardware, Nordstrom, Macy’s, H&M, Apple and Coach.
The shopping center is in the heart of one of the country’s most thriving commercial areas.
A billion-dollar project makeover of the west side of the Cherry Creek shopping district is in the works. A 13-acre mixed-use development will feature about 825 residences, 600,000 square feet of office space, 100,000 square feet of retail, a reservoir of underground parking with over 2,000 spaces and 4 acres of open space.
