News
WHY DENVER IS HOT?
November 20, 2012
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| At our Bisnow Multifamily Annual Conference in DC yesterday (we call it BMAC, in a futile attempt to look cool), Alliance Residential’s Brad Cribbins (right, with Bernardon Haber Holloway’s Neil Liebman) says his firm likes secondary markets when they have the right mix of job, population, and rent growth. Denver’s population is growing at 8% (plus a quarter of the people in the metro are 18 to 34), jobs at 2% year over year, and—this is the biggie—rents at 5%. Rents now average $1,380. What worries him is not the 11,000 units coming through 2014 (including his firm's 160-unit expansion of its Ball Park Lofts and 166 units in Cherry Creek, plus three more projects in the pipeline) but rather the 42,000 more in the planning stages. |
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| Ever seen speed networking before? For any newbies (or veterans who are just curious), here's video from the first day of BMAC, where 100 of the 500 attendees worked the room with two-minute rapid-fire schmooze sessions. |
