Several retail, office and residential projects nearing completion will transform Cherry Creek North from a shopper’s haven into a live, work and play destination, according to the business improvement district and developers.

The projects opening or that have opened already in 2015 will bring approximately 125,000 square feet of new retail, 250,000 square feet of office space and 800 new residential units, giving the neighborhood a different look than the shopping destination it’s been in the past.

“A lot of people know Cherry Creek North as retail. Very high-end, prominent retail. Now it’s becoming more mixed use. Live, work, play and stay,” said Julie Underdahl, president and CEO of the Cherry Creek North Business Improvement District.

The “stay” part comes in the form of two new hotels, one opening next year at 245 Columbine run by Sage Hospitality and an announced project at Second Avenue and Milwaukee that will bring 200 rooms.

“All the different uses will bring a great balance to Cherry Creek and make the overall experience better,” said Matt Joblon, CEO of BMC Investments, which owns Steele Creek apartments and is part of the 245 Columbine hotel.

The business improvement district — from First to Third Avenue, between University Boulevard and Steele Street — has 12 projects under construction and two completed.

Steele Creek — at First Avenue and Steele Street — is open and residents are moving in to the high-end units with monthly rents between $1,925 and $6,225. The apartments are almost full and the 17,000 square feet of retail will include an AT&T store, bar and sushi restaurant.

The 250 Columbine project on Columbine Street will bring 71 condos and could open as early as October.

The new homes will be the biggest change for the area. While the effects aren’t felt yet, it should be a major change. Approximately 1,200 units are under construction or complete, with nearly 200 more announced, according to the Cherry Creek North BID.

“It’s the calm before the storm right now,” said new City Councilman Wayne New, who is also the former president of the Cherry Creek North Neighborhood Association.

New said his biggest concerns are traffic, parking and adequate public transit. However, he sees the change as a positive.

“There’s some great development going on,” he said.

Underdahl said the mixed-use of the developments should be helpful to the traffic situation as she believes people living in the area will leave cars at home and walk to businesses. The office buildings also help.

“We’re fortunate that we have this office population because we get parking that many areas don’t have,” Underdahl said.

Cherry Creek North has always been a regional draw with its high-end stores. The dining scene — which will be aided by the new Del Frisco’s steakhouse scheduled to open later this year in the new 100 St. Paul office building — has erupted, as well. With more people living in Cherry Creek North, businesses could see neighbors spending more money at the mall and the surrounding stores.

“Naturally, we are very pleased to see all the residential development and hotels,” said David Dixon, marketing director with the Cherry Creek Shopping Center. “The residents are likely to be aligned with our shopper profile and will all be within walking distance.”

The mall will get another boost when the Restoration Hardware Flagship furniture store opens in late October or early November.

For the local businesses in the area, one concern is that higher property values could price them out. The popular game store Wizard’s Chest announced earlier this year that it would be moving to Fourth Avenue and Broadway. Many of the businesses rent their space, but some, like Terri Garbarini, have bought their properties.

Garbarini owns a clothes shop bearing her last name. She said she sees the development as a double-edged sword: Traffic and parking issues could be a setback, but it could bring more business.

She added: “I haven’t felt it yet, although in the last year or so it feels like someone comes in every day and says they just moved here.”

Joe Vaccarelli: 303-954-2396, jvaccarelli@denverpost.com or twitter.com/joe_vacc