U.S. Hotel Market May Not Recover Until Late 2021 or Early 2022, says Report
Integra Realty Resources (IRR), one of North America’s largest independent commercial real estate valuation and consulting firms, has released its Mid-Year U.S. Hospitality Report, which predicts that the U.S. Hospitality Market may not recover until late 2021 or early 2022. Julie Fugitt-Schultz, CCIM, director of Hospitality Valuation for Integra Realty …
“COVID-19 Dashboard”Tracks Pandemic’s Impact on the Condo Market
Polaris Pacific, the leading real estate sales and marketing group for new residential communities, has introduced a weekly, real-time market trend dashboard that measures changes to the condominium sector of eight core West Coast markets and provides data to navigate the complexities created by COVID-19 on these condominium markets. Updated …
ULI Examines Benefits of Creative Placemaking in Denver
The benefits of creative placemaking, along with best practices and successful case studies in cities throughout the United States, is explored in the latest Urban Land Institute (ULI) report, Creative Placemaking: Sparking Development with Arts and Culture. In short, Creative Placemaking integrates arts and culture with good design. It offers insights …
Survey Reveals Gender Diversity is Lacking in Real Estate Investing Community
It is widely known that the gender pay gap still exists, with women in the U.S. earning 80.4 percent of what men earned in the first quarter of 2020, but data suggests that the gap for women in the real estate investing industry is just as significant. Ahead of Women’s Equality Day on …
Pandemic Impacting Colorado Springs Retail Market
According to CBRE’s Colorado Springs Retail MarketView, for the first time in over 10 years, the Colorado Springs retail market posted negative net absorption. Through the first half of 2020, 282,000 square feet of negative net absorption was recorded. Direct vacancy increased to 6.1% in Q2 2020, up 107 bps from Q4 …
New Study Finds Colorado Energy Policy Discourages All-Electric Buildings Despite Lower Upfront Costs
A report commissioned by Community Energy, Inc. and prepared by Group 14 Engineering, finds that the upfront cost to build new residential buildings with all-electric space and water heating is roughly 25 percent less expensive than comparable equipment powered by natural gas. Similar, but smaller percentage savings arise for new all-electric commercial buildings. …
Denver Metro Apartment Deliveries Down by 51%
The ongoing pandemic has had a visible slowdown in apartment deliveries. A shortage of available labor, funding and permits, along with some temporary construction bans, apartment construction nationwide is down by 12 percent compared to 2019. In fact, according to Rent Café, 13 of the 20 most active large metros are …
Colorado Springs Office Market Posts Positive Year-end Net Absorption for Ninth Straight Year
According to CBRE’s Colorado Springs Office MarketView H1 2020, the Colorado Springs office market recorded positive market fundamentals in H1 2020, despite the on-going economic impacts of COVID-19. The Colorado Springs economy is largely supported by the military installations which will help support continued office-using employment growth in the defense contractor, cybersecurity and financial technology (fintech) industries. …
Denver Construction Costs Above National Average, says Report
Rider Levett Bucknall (RLB) has released its latest Quarterly Cost Report (QCR) for North America. With data current to April 1, 2020 and featuring construction cost information for 14 U.S. and Canadian markets, the QCR provides a statistical view of the state of the construction industry. In April, Denver construction …
July Apartment Market Shows Continued Impact of COVID-19 Outbreak
Apartment market conditions weakened in the National Multifamily Housing Council’s Quarterly Survey of Apartment Market Conditions for July 2020, as the industry continues to cope with the ongoing COVID-19 pandemic. The Market Tightness, Sales Volume and Equity Financing indexes all came in well below the breakeven level. However, in a positive …