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Multifamily For-Sale Permit Activity Roars

DENVER-Permits for condominium and townhome construction double in January over the previous year's total, even as the overall number of permits pulled falls nearly 15%. Permits for multifamily rental units fall 34%.

By John Rebchook | Updated on April 07, 2002

DENVER-Developers pulled 525 permits for condominiums and townhomes in Denver in January, more than twice the 232 pulled in January 2001, according to the latest report by the Home Builders Association of Metropolitan Denver. Because of the strength of the Denver market, the condo activity rose by 40.94% in January from January 2001, shows the HBA report.

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.

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