More Room For Multifamily Growth In Denver. Here's Why.
Should Denver multifamily developers wake up at 3am in a cold sweat, wondering, "overbuilt?" Not yet, the experts still agree. Come here why at the Denver Multifamily & Mixed Use Forum on April 12 at the Four Seasons Denver.
Although there's always a danger of overbuilding in the multifamily sector, the Denver market is well-balanced, with growth in supply spreading out to more of the suburban markets, Legacy Partners senior managing director Spencer Stuart Jr., who will be a speaker, tells us.
"The CBD has had the largest inventory growth and may experience a slight softening, which should be alleviated as we hit the peak leasing months."
Spencer's shown with his son, Spencer III, on a fly-fishing trip near Steamboat Springs.
Market fundamentals are still solid. Absorption in Q4 2015 was robust, and the best Q4 absorption of any in recent memory, Spencer points out.
Also, job growth has been strong, with over 37,000 new jobs created in the trailing 12 months through January 2016. "Combine the strong job growth with Denver’s rapid population growth, and you have a formula for continued success in the multifamily sector."
Hear more from Spencer and our other experts at the Denver Multifamily & Mixed Use Forum event on April 12 beginning at 7:30am at the Four Seasons Denver. Sign up here.
