Developer: Stillwater Capital
Status: Predevelopment
Estimated Groundbreaking: Late 2025
Estimated Delivery: 2027
Project Type: Class A++ Multifamily with Ground-Floor Retail
Size: 87 Residences + 14,000 SF Retail
Stillwater Capital is advancing plans for an ultra-luxury residential development at 215 Detroit Street in Denver's prestigious Cherry Creek North district. The project will feature 87 high-end units and 14,000 square feet of premium retail space, catering to affluent renters seeking luxury living with convenient access to upscale shopping and dining. Rents are anticipated to exceed $5.00 per square foot.
Founded in 2010, Stillwater Capital is a fully integrated private real estate firm specializing in sourcing, underwriting, developing, acquiring, and managing a diverse portfolio of real estate assets. With expertise spanning infill multifamily communities, mixed-use properties, build-to-suit projects, and high-end single-family homes, Stillwater Capital has successfully developed over $1 billion worth of projects. The firm's commitment to timeless design, efficient layouts, and first-class amenities has established it as a leader in the real estate development sector.
Cherry Creek North is renowned for its blend of luxury, lifestyle, and location. Spanning 16 walkable blocks, the neighborhood boasts:
Over 300 Shops & Boutiques: Including Colorado's largest collection of independent retailers.
70+ Cafés & Restaurants: Offering a diverse culinary scene.
Cultural Events: Hosting annual events like the Cherry Creek Arts Festival and Cherry Creek North Food & Wine.
This vibrant community offers residents an urban lifestyle with the charm of a close-knit neighborhood.
The Cherry Creek real estate market continues to demonstrate strength and resilience:
Vacancy Rates: In the Cherry Creek Area, office vacancies fell 0.6 percentage points to 6.6% between Q4 2023 and Q4 2024, outperforming the City and County of Denver, where vacancy rates rose.
Retail Market: Retail vacancy rates in Cherry Creek reached 1.4% in Q4 2024, indicating a robust retail environment.
Lease Rates: The average lease rate in Cherry Creek increased by 9.6%, rising from $28.31 to $31.02 per square foot, reflecting strong demand.
These trends underscore Cherry Creek's position as one of Denver's most sought-after residential areas.
Stillwater Capital's development at 215 Detroit Street presents a unique opportunity for neighbors, residents, and local businesses to thrive. With its prime location, exceptional design, and the backing of a seasoned developer, this project is poised to set new standards in luxury urban living in Denver, Colorado.
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