Research authored by global real estate services firm CBRE that centers on Colorado residential and commercial investment opportunities makes these two fundamental points:
- Denver’s downtown area has long been undersupplied when it comes to apartments that are available for downtown workers
- Recent construction activity seeks to remedy that and will have a strongly positive effect on altering the urban core
A Colorado Real Estate Journal article citing CBRE’s research notes that a recent phase of frenetic downtown apartment construction was predated by years of frustration among would-be downtown residents. High numbers of workers have searched unsuccessfully for homes nearby their places of employment. The CREJ piece underscores “a residential market that has underserved Denver’s employment base.”
That is now changing, and evident from all the construction activity being engaged in these days in downtown Denver. Reportedly, more than 10,000 units are presently being built or moving forward in their planning stages.
That is a huge number, to be sure, but CBRE stresses that it spells positive news across a broad front.
For starters, it obviously benefits individuals looking for downtown homes near their jobs. High numbers of those people relocating to the city’s core will also – and obviously – bring new commercial opportunities for businesses that provide consumer goods and services.
And then there are high-end business participants that the CREJ article notes “have invested in downtown commercial real estate to appeal to that employment base.” There is “a massive pool of potential renters on the sideline waiting” for an increased supply of urban housing. Investors are profiting from that.
Denver is a dynamic business locale. The deep legal team at O’Brien Legal Services LLC has for many years helped diverse and valued real estate clients take advantage of attractive opportunities in the commercial and residential sectors.
We welcome contacts to the firm to discuss how our proven attorneys can help promote your goals and bottom line.