Monday, April 2, 2012

Recent Clippings, April 1, 2012

Denver Post, March 27, 2012

"Jefferson Park apartment project in Denver's Highland to include 332 units, retail space"

While there are a number of apartment projects under construction in the nearby Highland neighborhood, nothing suggests that the area is in danger of being overbuilt, said Ryan McMaken, spokesman for the Colorado Division of Housing.

The downtown vacancy rate is 4.4 percent and the vacancy rate for northwest Denver is 5.5 percent.

"I don't see anything in our data that would raise any red flags for this project," McMaken said.

The rental rates also are consistent with those throughout the metro area. Of the 108,000 apartments included in the survey, only 3 percent lease for $1,500 or more, McMaken said.

"It gets higher the closer you get to downtown," he said.