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Another Tough Year on Tap for Apartment Market

DENVER-A forecast by Apartment Realty Advisors refers to the Denver-area apartment market as "a dog with fleas," noting that 2003 will not be kind to the apartment market as new development becomes increasingly difficult to finance, even as the economy improves.

By John Rebchook | Updated on April 15, 2003

DENVER-The Denver-area apartment market “went from the darling of the national capital markets to a dog with fleas,” all in the past 18 months, according to a forecast by Apartment Realty Advisors.

The report notes that the market was never as good as people thought it was, and not as bad as it is rumored to be today.

Yet, 2003 will not be kind to the apartment market, notes the company, which is owned by Jeff Hawks and Doug Andrews. But after delivering another 7,600 units this year, “the picture improves dramatically going forward,” according to the report.

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