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Drain cherries, reserving 1 cup of the liquid. In a medium saucepan, stir together 1 cup sugar and the cornstarch. Add cherries and the reserved liquid. Bring to a boil, stirring to dissolve sugar; reduce heat. Boil gently, uncovered, for 1 minute; cool. Cover and chill until needed.
In a medium bowl, stir together flour, ground almonds, 1 teaspoon sugar and the salt. Using a pastry blender, cut in butter until pieces are pea size. Sprinkle 1 tablespoon ice water over part of the flour mixture; toss gently with a fork. Push moistened pastry to one side of bowl. Repeat moistening flour mixture, using 1 tablespoon ice water at a time, until all of the flour mixture is moistened. Gather the flour mixture into a ball, kneading gently until it holds together. Cover and chill for 1 hour.
Meanwhile, allow cream cheese and eggs to stand at room temperature for 30 minutes. Preheat oven to 425°F. On a lightly floured surface, roll pastry into an 11-inch circle. Ease the pastry circle into a 9-inch pie plate without stretching it. Trim pastry to 1/2 inch beyond edge of pie plate. Fold under extra pastry; crimp edge as desired. Bake for 8 minutes. Spoon half of the cherry mixture into the pastry-lined pie plate. Bake for 15 minutes.
In a large bowl, beat the cream cheese with an electric mixer on medium to high speed for 30 seconds. Add the remaining 1/2 cup sugar, vanilla, and almond extract; beat until combined. Add eggs; beat just until combined.
Reduce oven temperature to 350°F. Spread cream cheese mixture evenly over cherry layer in pie plate. Bake about 25 minutes more or until cream cheese layer is set; cool.
Spread the remaining cherry mixture over the top of the pie. Cover and chill for at least 4 hours before serving. If desired, sprinkle with sliced almonds.