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Multifamily Developers May Go Affordable

DENVER-The trend toward developing multifamily rental buildings for the higher-end and luxury markets may be shifting toward the affordable sector, says Eric Tupler, a vice president of L.J. Melody & Co.'s Denver office.

By John Rebchook | Updated on November 26, 2001

DENVER-Over the last 10 years here, almost all of the multifamily rental buildings constructed in the metro area have been high-end, luxury apartments. They include such amenities as large swimming pools, health clubs as nice as most private ones, office centers, attached garages, and other resort-style amenities.

But with the softening economy, these apartments now sport the highest vacancies. And landlords increasingly are offering incentives to fill their units.

Eric Tupler, a vice president of L.J. Melody & Co.’s Denver office, says he expects to see more developers switch from fully market-rate units to affordable units.

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