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Mixed-use development gets underway in Cherry Creek North
The Oasis to feature 177 luxury apartment units and ground-floor retail
ColoradoBiz staff //December 11, 2024//
Rendering courtesy of BMC Investments.
Rendering courtesy of BMC Investments.
Mixed-use development gets underway in Cherry Creek North
The Oasis to feature 177 luxury apartment units and ground-floor retail
ColoradoBiz staff //December 11, 2024//
Work has begun on a 177-unit luxury mixed-used development in Cherry Creek North, the project’s principals announced Monday. BMC Investments and Rockpoint formed a partnership in April 2022 to purchase and develop the site at 299 Milwaukee St.
BMC is a Denver-based vertically integrated real estate firm; Rockpoint is a real estate private equity firm.
The project, named Oasis, is situated on one of the last large mixed-use development sites in the neighborhood. Along with 177 residential units, the 28,000-square-foot development will include ground-floor retail and a 6,000-square-foot public park with fountains at the corner of Third Avenue and Milwaukee Street.
“We are excited to have secured construction financing from Bank OZK and begin construction of this transformative project in Cherry Creek North,” said Matt Joblon, founding partner and CEO of BMC Investments. “Alongside Rockpoint, we are thrilled to move forward with this trophy-level apartment development catering to residents who seek a best-in-class living experience in the Cherry Creek submarket.”
“Rockpoint is pleased to partner with BMC and commence construction on this exciting new development in Cherry Creek,” said Aric Shalev, managing member and co-president at Rockpoint. “We believe this submarket is perfectly suited for this kind of luxury rental housing development, given its excellent location, high-end amenities and adjacent high-quality retail. We believe this will become a signature property in the Denver community.”
The Oasis is BMC’s fourth high-end, Class A multifamily development and 12th overall project in the submarket.
Site work at 299 Milwaukee has begun with vertical construction expected to start in February; completion is anticipated in early 2027.
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