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Apartment-area Building Permits Continue Skid

DENVER-The Home Builders Association of Metropolitan Denver releases statistics showing a 49% drop in building permits in the first quarter and Grubb & Ellis top apartment broker Jeff Hawks sees further declines.

By John Rebchook | Updated on June 07, 2001

DENVER-Jeff Hawks nailed it. When the Home Builders Association of Metropolitan Denver released building permit statistics in late May for the first two months of the year, the figures showed a precipitous slide from last year’s near record tally.

Hawks, a top apartment broker with Grubb & Ellis, predicted the drop would continue.

Days later, the HBA released statistics for the first three months, which showed there were only 1,313 building permits issued in the metro area compared with 2,565 in the first quarter of 2000, a 49% drop.

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