Denver’s Cherry Creek North is set for a significant redevelopment, as BMC Investments, in partnership with Prism Places and Invesco Real Estate, moves forward with Cherry Lane, a mixed-use luxury development at 1st Avenue and Clayton Lane

The project will replace the long-vacant Sears department store and Crate & Barrel buildings, making way for a high-end retail and residential destination featuring 379 apartments, 59,000 square feet of office space, and 132,000 square feet of ground-floor luxury retail. A rooftop space will also be available for lease, and the area’s parking garage will undergo a major renovation.

Developers have already secured strong interest from top luxury brands, with the retail experience designed to rival New York’s Fifth Avenue and Beverly Hills’ Rodeo Drive. The project aims to create a bustling, walkable shopping district with boutiques, restaurants, cafes, and entertainment that seamlessly integrates with the broader Cherry Creek North community.

Cherry Lane is expected to complement the upcoming Cherry Creek West project, which will transform the parking lots of Cherry Creek Shopping Center into an urban neighborhood with residential, office, and retail spaces.

The first phase of Cherry Lane is set for completion in October 2027, with a second phase planned to bring additional luxury apartments and boutique retail spaces. Developers acknowledge the potential traffic disruptions but plan to engage the community proactively throughout the process.