Author: WAYNE HEILMAN Special to The Gazette
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After building boom, Colorado Springs hotel occupancy and room rates fall
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After one of the biggest hotel building booms in Colorado Springs in three decades, occupancy rates and room rates are falling as the supply outstrips demand — and experts are warning of challenges ahead, including cuts to federal employee travel. That hot streak in construction is now cooling. After developers added 2,100 rooms in the past three…
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Apartment construction slows after years of frenzied building in Colorado Springs
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The red-hot pace of Colorado Springs-area apartment construction turned ice cold last year. From 2019 to 2023, multifamily developers pulled permits to build just over 14,000 apartments in the Springs and surrounding El Paso County — one of the hottest stretches of local apartment construction in recent memory that averaged a little more than 2,800…