Denver activity accounts for 65% of the 802 permits issued from Boulder to Elbert counties. Overall, however, permits were down 14.72%, when single-family home activity and apartments were factored in.
Permits were issued for 449 apartment units, down 34.07% from the 681issued in January 2001.
Nancy McCallin, executive director of the Governor's Office of State Planningand Budgeting, tells GlobeSt.com she thinks the drop in permits for single-family homes won't continue, while the drop for apartments is overdue. ''There was too much apartment building activity last year,'' McCallin tells GlobeSt.com.
As far as the spike in permit activity for Denver, she says it is too early to say whether it is the beginning of a trend, a one-time event such as a developer pulling permits for one big project, or some other explanation.
''I wouldn't read too much into one month's data,'' McCallin says.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
