apartments
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‘Housing mismatch’ improving in Colorado Springs, but residents losing purchasing power: Report
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Residents in Colorado Springs and El Paso County are losing purchasing power as average rental housing and home prices over the last decade have increased more than two to three times that of average incomes. At the same time, a “housing mismatch” between the types of homes being built in the area and the homes…
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Denver considers 5x harsher fines against landlords not up to code
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If a residential unit in Denver doesn’t have a smoke alarm installed, Denver can currently fine the landlord up to $999 after a warning and several citations. But soon, penalties could stack up to $5,000 per day. The Department of Excise and Licenses is pushing to revise Denver’s code to create a new maximum penalty…
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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…
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Controversial apartments near Garden of the Gods get City Council approval
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The City Council on Tuesday approved divisive plans to build more than 220 apartments near Garden of the Gods Road, about three years after a previous council denied another apartment project across the street because they concluded it could make emergency evacuations more dangerous. “To have this decision after everything we have presented to you…
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Downtown Colorado Springs tower’s height reduced from 36 floors amid developer concerns
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A controversial proposed 36-story, 400-foot-tall apartment tower proposed for downtown Colorado Springs has shrunk in size to 27 stories and 300 feet, its developer says. The reduced height, however, isn’t a concession to community members who’ve complained the project would disrupt mountain views or be out of place with downtown’s skyline, where the Wells Fargo…
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Colorado Springs apartment rents slumped again in the first quarter, new report shows
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Colorado Springs apartment rents fell again in the first quarter and the area’s vacancy rate remained high, more signs that the local multifamily market is overbuilt, a new report suggests. And, expect those trends of softer rents and higher vacancies to continue unless the pace of absorption, or apartment occupancy, ramps up significantly, one of…
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Proposed rule mandating large building electrification violates federal and state laws, says critics
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A proposed statewide energy efficiency regulation that critics say could force large building owners to upgrade their heating and cooling systems could cost them as much as $3.1 billion by 2030, according to the Colorado Department of Health and Environment. The proposed rule is being challenged by two apartment associations representing more than 350,000 apartments…
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Nonprofit planning low-income senior housing in Colorado Springs
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A southeast-side Colorado Springs nursing home, which shuttered last year after more than 12 residents died because of the coronavirus, will be demolished as part of a plan by its nonprofit owner to expand housing for low-income seniors. Volunteers of America National Services, based in Virginia, will tear down the Laurel Manor Care Center at…