Waldo Canyon fire to impact Colo. Springs apartment market
In the coming quarter, the effects of the Waldo Canyon fire on Colorado Springs’ apartment market will be evident, according to a recent report on the city’s multifamily sector.
Apartments will see a period of increased renting from both those who lost homes and those who arrive to help with the recovery effort and rebuilding, noted Doug Carter of Sperry Van Ness/Doug Carter LLC, co-author of Apartment Insights’ Statistics/Trends report on the Springs multifamily market for the second quarter of 2012.
“As evacuated residents return home, it is clear that both apartments and the economy have been impacted,” added Carter, explaining that the third-quarter survey will offer a good comparison to the “prefire” second-quarter, in which the citywide vacancy rate declined 62 basis points to 6.38 percent. Read more in the July 18 issue of the Colorado Real Estate Journal.
Jennifer Hayes has been an Editor with the CREJ for more than 12 years. Jennifer covers all commercial real estate news for all property types in the Colorado Springs/Southern Front Range and the Western Slope/Mountain Town areas. Jennifer also is Editor of the Construction/Design/Engineering section, the Economic Development section and the Shopping Center section.
Before joining the Colorado Real Estate Journal, Jennifer served as the Assistant Sports Information Director at Texas A&M-Commerce. She earned her bachelor's degree in broadcast journalism from the University of Colorado and a master's degree in education from A&M-Commerce.
When not bringing you the latest in commercial real estate news and views for the Denver area, Jennifer enjoys spending time with her husband and son, sports, dining out, reading, and perfecting her cookie and cupcake icing technique.