Author: WAYNE HEILMAN Special to The Gazette
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After building boom, Colorado Springs hotel occupancy and room rates fall
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
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…