{"id":42,"date":"2015-08-22T00:51:33","date_gmt":"2015-08-22T00:51:33","guid":{"rendered":"http:\/\/www.kevintracydesign.com\/cfs\/?p=42"},"modified":"2015-11-17T04:56:24","modified_gmt":"2015-11-17T04:56:24","slug":"cherry-creek-community-church","status":"publish","type":"post","link":"https:\/\/www.developco.com\/development\/cherry-creek-community-church\/","title":{"rendered":"Cherry Creek Community Church"},"content":{"rendered":"<p>The Client, Cherry Creek Community Church, came to the conclusion that the disadvantages of the properties were preventing growth for this congregation. The disadvantages included poor visibility, little off-street parking, and more than $1 million in deferred maintenance. Development Advisors worked with Cherry Creek Community Church to position these church properties for sale for a higher and better use. We were able to sell two (2) existing church properties to a Residential Builder in a very soft luxury home market.<\/p>\n<h3>Assignment Highlights<\/h3>\n<ul>\n<li>Contemplated the Highest and Best Use for the property in this R-2B Zone District.<\/li>\n<li>Designed architecturally the most likely single-family or duplex product for these 7 home sites in order to know the eventual size of structure that could be developed and the possible amount that the land could be purchased for still provide a reasonable market return for the future builder\/buyer.<\/li>\n<li>Anticipated the value of the land based upon recent land sales comps, but more importantly, based upon recent home selling prices (greater than $2 million) in Cherry Creek North.<\/li>\n<li>Identified every Investor or home Builder active in the Central Denver market (currently working in luxury locations like Country Club, Hilltop, Bonnie Brae).<\/li>\n<li>Created a Prospectus for interested parties and orchestrated the closed bid selling process.<\/li>\n<\/ul>\n<h3>Results<\/h3>\n<ul>\n<li>Sold the old church property as 7 luxury home lots for $4.9 million to a local investor. A higher selling price could not have been attained in such a soft luxury home market.<\/li>\n<li>Client invested the proceeds into an appreciating asset providing regular dividends and interest.<\/li>\n<\/ul>\n<p>Denver, Colorado<\/p>\n<p>Project Type: Luxury Home Sites<\/p>\n<p>Date: 2007<\/p>\n<p>Size: Seven (7) 50\u2019 Lots<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cherry Creek Community Church, came to the conclusion that the disadvantages of the properties were preventing growth for this congregation. The disadvantages included poor visibility, little off-street parking, and more than $1 million in deferred maintenance. Development Advisors worked with Cherry Creek Community Church to position these church properties for sale for a higher and better use.<a class=\"more-link\" href=\"https:\/\/www.developco.com\/development\/cherry-creek-community-church\/\">&nbsp;Read More.<\/a><\/p>\n","protected":false},"author":3,"featured_media":542,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,2],"tags":[],"class_list":{"0":"post-42","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-church-and-nonprofit","8":"category-projects","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cherry Creek Community Church - Development Advisors<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.developco.com\/development\/cherry-creek-community-church\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cherry Creek Community Church - Development Advisors\" \/>\n<meta property=\"og:description\" content=\"Cherry Creek Community Church, came to the conclusion that the disadvantages of the properties were preventing growth for this congregation. The disadvantages included poor visibility, little off-street parking, and more than $1 million in deferred maintenance. Development Advisors worked with Cherry Creek Community Church to position these church properties for sale for a higher and better use.&nbsp;Read More.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.developco.com\/development\/cherry-creek-community-church\/\" \/>\n<meta property=\"og:site_name\" content=\"Development Advisors\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-22T00:51:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-11-17T04:56:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.developco.com\/development\/wp-content\/uploads\/2015\/11\/Cherry-Creek-CC-500x200.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott McLean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Scott McLean\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.developco.com\/development\/cherry-creek-community-church\/\",\"url\":\"https:\/\/www.developco.com\/development\/cherry-creek-community-church\/\",\"name\":\"Cherry Creek Community Church - 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