Metro Moves: Cherry Lane development to be anchored by UMB Bank office
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UMB Bank is opening a flagship location and corporate office for Colorado in Denver’s Cherry Creek within one of the neighborhood’s buzziest development projects.
Developer BMC Investments announced the UMB Building will be the anchor office building for Cherry Lane, the project under construction on First Avenue and Clayton Lane, in a news release Monday.
Cherry Lane, located across the street from the Cherry Creek Shopping Center, is set to transform the area once home to the former Sears department store and the Crate & Barrel building into an outdoor shopping hub.
It’s set to add 379 apartments and 59,000 square feet of office space, according to the developers. The parking garage on the block will be renovated, with several floors added on top of it. There will also be more than 150,000 square feet of luxury store space on the ground floor, as well as a rooftop space open for lease.
The first phase is set to be completed in 2027. UMB is set to move in May 2028.
Denver is UMB’s second largest market after Kansas City, the home of its headquarters, said UMB Financial Corp. Chairman and CEO Mariner Kemper in the news release.
“This development provides us with the unique opportunity to build a customized office from the ground up,” Kemper said.
UMB stated it plans to keep its downtown Denver location and is opening a new branch in Bonnie Brae set to be completed next year.
The office building will be six stories with 55,000 square feet of Class A office space. It will be home to UMB’s commercial, private wealth management and executive teams. The flagship branch will be on the ground floor and include space for client entertainment and events, such as two outdoor terraces on the top two floors.
The office will also have a “world-class, branded steakhouse” on the sixth floor, the news release said.
“UMB’s commitment is a powerful vote of confidence in the vision we’ve created for Cherry Lane and reflects the strength and momentum of the neighborhood as a whole,” said Matt Joblon, founding partner and CEO of BMC Investments.
Minimalist outdoor gear company to set roots in Colorado
A fly fishing gear company is making Steamboat Springs the home of its new headquarters.
Gov. Jared Polis and the Colorado Office of Economic Development and International Trade announced Colter Backcountry selected the town in Routt County to grow its fly fishing gear operations with the help of the state’s Rural Jump-Start program.
Through the program created to encourage job growth in Colorado’s rural regions, the state’s economic office said Colter Backcounty will receive a $15,000 grant to help it launch, plus four years of tax benefits.
“Colter Backcountry is an innovative fly fishing gear company, which will create good-paying jobs in the region, support the local economy, and strengthen Colorado’s thriving outdoor recreation industry,” Polis said in a news release.
The company was founded by brothers Patrick and Daniel Bauman, who wanted to create ultralight gear after hiking the 3,100-mile Continental Divide Trail. Their gear aims to make “minimalist” versions of fly fishing gear and will run product assembly, inventory storage and order fulfillment out of Steamboat Springs.
“We’re incredibly excited to join the Rural Jump-Start Program and look forward to expanding our business in Steamboat Springs,” Patrick Bauman said. “This program will help us grow our product line, deepen our roots in the community, and continue designing gear built for the mountains that surround us.”
