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REAL ESTATE
Boulder County Housing Authority is selling off affordable apartments to address budget gap, displacing some families
Boulder County housing officials are selling potentially more than 30 below-market-rate apartments to address a budget gap in the county’s affordable housing program. This decision will further reduce the already-limited supply of affordable housing, forcing families to find new homes in a region grappling with a housing shortage and rising living costs. County officials said they are helping displaced residents transition to new homes.
Denver Home For Sale is a Colorful Blast From the Past
Colorado's vast real estate market ranges from mega-mansions in the mountains to lovely log cabins in the woods. Whether a buyer is searching for a starter home, rental property, or their forever residence, the list of available places to live is always changing in the Centennial State. Denver Home For...
Local company is among group charged with racial discrimination in a Denver housing appraisal
The U.S. Department of Housing and Urban Development (HUD) has charged a group of appraisers and lenders with housing discrimination in Denver, alleging the companies involved undervalued a homeowner’s property because she is Black. HUD announced the charge Monday against the appraisal company Maverick Appraisal Group, appraisal management company...
Housing construction on the decline in Denver
Data: Census Bureau via housingdata.app; Chart: Axios VisualsDenver is poised to see an 18% drop in new housing units in 2024, according to Census Bureau data.Why it matters: The housing shortage is what's driving high prices in Denver.By the numbers: The total projected housing units this year is expected to reach 17,000, or 56.5 per 10,000 residents. That's down from the roughly 20,600 built in 2023, the data shows.The big picture: The local figures reflect a national downturn as higher interest rates for home loans pinch construction, according to the National Association of Home Builders.Labor and lot shortages are also weighing on builders, per the group's latest survey.What we're watching: The Biden administration recently awarded Denver a $4.5 million grant to address the issue. The city will use the money to streamline permitting and offer loans to affordable housing developers, both steps that officials suggest will boost construction in the future.
Kairoi Takes Over Leasing and Management of 2 Denver Apartment Buildings
Kairoi Residential, a premier vertically integrated multifamily investment, development, and property management company, has been selected to provide leasing and property management services for two Denver metro area apartment buildings. The properties are:. Infinity LoHi, located at 2298 West 28th Avenue. The property has 273 units for rent. Amenities include...
Existing-Home Listings Increase Year-Over-Year
The amount of home listings has increased year-over-year. Although there's still a shortage of housing inventory, listings for existing homes have increased year-over-year, showing the market may be starting to balance itself out. According to the Calculated Risk blog, new listings increased by 6.3% year-over-year as of June 2024, surpassing May's 5.9% increase. This June marked the eighth consecutive month of rising listing activity following a 17-month decline. Despite these gains, the housing market remains below pre-pandemic levels, with many would-be sellers opting to stay out of the market to avoid high mortgage rates.
The Colorado Trust Relocates HQ to The Hub North in RiNo
Tributary Real Estate, a commercial real estate brokerage firm based in Colorado, announced the successful lease negotiation for The Colorado Trust‘s new 14,000-square-foot, full-floor headquarters at The Hub North in RiNo. The Colorado Trust is a private philanthropic foundation that was founded in 1985 and makes grants statewide. The...
Ryan Companies to Build Class-A Industrial Project in Broomfield
Ryan Companies US, Inc., a national commercial real estate solutions provider, and PGIM Real Estate have formed a joint venture and announced the financial closing for Northwest Commerce Center. Located in Broomfield, within the Verve Innovation Park and, adjacent to the Rocky Mountain Metropolitan Airport, the Class-A industrial project comprises...
Pacific Ventures Acquires Master-Planned Community in Aurora
California-based Pacific Ventures Management LLC, in conjunction with Avanti Properties Group, has acquired the Horizon Uptown master-planned community in Aurora. Pacific Ventures will be the master developer and responsible for the development, management and future planning of the community. Horizon Uptown is strategically located at the intersection of I-70 and...
Haroun Cowans: Positively Impacting Communities through Real Estate Development Projects
In March 2023, The New York Times shed light on the poor representation of the Black community in the real estate space. It reported that out of the 111,000 commercial real estate development companies, only 464 were run by African Americans. In view of that, the accomplishments of Haroun Cowans, Founder and CEO of Goshen Development, are truly remarkable and inspirational. He is an exemplary representative of the underrepresented population in real estate. “I’m proud to represent the culture and community I come from, and I’m driven to be a great representative and steward of this [real estate] work,” he says.
The Cost of Living Diaries: Westminster, CO
Get the inside scoop on what it's like to be a local in this Front Range suburb. In Colorado, the cost of living is as high as the altitude. However, Centennial State is full of hidden gems that maintain an affordable cost of living and an excellent quality of life. One of those places is the rapidly growingAdams County, located just northeast of Denver, which offers excellent proximity to downtown and all the big-city amenities. Today, we’re visitingWestminster, located right between Denver and Boulder. So, how much does it really cost to live there? We asked a local to give us the scoop on everything from rent to lattes to free ways to have fun.
Denver-Area Logistics Tenant Leases 1.1M-SF
Third-party logistics firm Broadrange has signed a long-term lease for 1.1 million square feet at Colorado’s 76 Commerce Center. CBRE, which represented the landlords and tenant, reports that it’s the largest speculative lease ever completed in Colorado. Mortenson Properties and Hyde Development developed the 155-acre site adjacent to...
Compass lands top agents in Florida, Colorado
Compass has nabbed a pair of top agents to add to its teams in Florida and Colorado. Bonnie Heatzig is coming over from Douglas Elliman, bringing her extensive knowledge to the Boca Raton, Florida-based team at Compass. She has more than 20 years of experience in luxury real estate, selling more than $170 million in volume over the past four years.
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