Caitlin Hendee | Denver Business Journal
Maybe it’s the demand for new apartments. Or the Regional Transportation District’sFasTracks transit project. Or perhaps it’s climbing rent prices.
Whatever the reason, Denver’s apartment construction boom continues, with the Denver market being among the country’s top markets for completion of new rental units in the first quarter of 2014, according to CBRE Group’s quarterly report.
Of 58,099 Q1 national multifamily unit completions, which include apartment and condos, across 60 major markets, more than half were concentrated in 10 markets: Denver, Houston, Austin, New York, Washington, D.C., Raleigh, Dallas, Minneapolis, Phoenix and Seattle.
Denver’s market recorded 2,312 completions for the first quarter, and CBRE said that number is expected to exceed 9,000 units in 2014. Read more