Search
 

Multifamily Rental Permit Activity Soars

DENVER-Despite a 26.7% jump in permits issued in the first 10 months of the year, one multifamily broker cautions those figures represent projects in the pipeline, and future growth is likely to be slower.

By John Rebchook | Updated on December 19, 2001

DENVER-In the first 10 months of the year, developers pulled 8,351 permits for multifamily units, 26.76% more than the 6,588 permits issued in the seven-county metro area during the same period in 2000, according to the most recent Home Builders Association of Metropolitan Denver. But, there already are signs that the permit activity, which measures future growth, is slowing.

“These are all projects that were in the pipeline,” Steve Rahe, an apartment broker with CB Richard Ellis tells GlobeSt.com. “Developers were seeking approval for these projects in 1999 and 2000, when there was a shortage of supply.”

Rahe tells GlobeSt.com that permit activity will be slowing next year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.