Joblon breaks ground on six-story Equinox-anchored building in Cherry Creek

240 St Paul rendering

A rendering of the planned structure. Credit: BMC Investments

Matt Joblon’s next project in Cherry Creek is underway.

BMC Investments, the Denver-based firm he oversees as CEO, has begun construction on a six-story, 76,000-square-foot project at 240 St. Paul St.

The firm said in a press release that “a world class fitness club and one of the best known fitness brands in the country” will anchor the building, taking 33,000 square feet across the first three floors. BusinessDen reported last fall that brand is New York-based Equinox; it will be the company’s first Colorado location.

All told, of the building’s 64,000 square feet of office space, all has been leased with the exception of two 2,500-square-foot spaces, according to BMC. About half of the building’s 12,000 square feet of retail space has been leased.

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The proposed development would replace the existing building and parking garage at 240 St. Paul St. in Denver’s Cherry Creek neighborhood. (Photos by Thomas Gounley)

BMC Investments does nearly all of its development within Cherry Creek. The firm previously developed the Halcyon and Moxy hotels, as well as office building Financial House. The company is currently turning the former Inn at Cherry Creek into The Clayton, which is slated to open next March.

BMC also developed the St. Paul Collection, a combination of residential units and retail space along St. Paul St. that has lured SoulCycle, Sweetgreen and furniture store CB2 as tenants.

“With the addition of the new building at 240 St. Paul, this street will become the most heavily trafficked pedestrian area in Cherry Creek,” Joblon said in a statement.

Open Studio is the architect and interior designer of the building and FirstBank is the lender. GE Johnson is the general contractor. The building will have 200 underground parking spaces.

The 240 St. Paul St. parcel, 0.43 acres in size, was previously home to a four-level office building and adjacent parking garage. BMC purchased the property in January 2017 for $10.9 million, records show.

Construction is scheduled to last 14 months, which would put completion in early summer 2021.

240 St Paul rendering

A rendering of the planned structure. Credit: BMC Investments

St. Paul St. “will become the most heavily trafficked pedestrian area in Cherry Creek,” the CEO of BMC Investments predicted.

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