Wednesday, October 10, 2012

Housing News Digest, October 10

Legal glitch reverses affordable housing recommendation GLENWOOD SPRINGS, Colorado — An advisory committee charged with reviewing Garfield County's land-use code has dropped its recommendation to repeal the county's affordable housing regulations. Code advisory committee chairman Tim Thulson said during an update to the county commissioners Monday that the decision came after meeting with Garfield County Housing Authority officials recently. “There are some problems with repealing those rules,” he said. By taking the regulations off the books, Thulson said, it would leave the 36 existing deed-restricted units in Garfield County's affordable housing program in legal limbo.

  Denver, Searching for Icon, Celebrates Downtown Mall Unlike attempts by other cities to revive their downtowns by closing major streets to traffic, Denver scored a major success and created a new public square with its 16th Street Mall. It draws map-carrying tourists, badge-wearing conventioneers and white-collar workers, all weaving through a sprawling circus of buskers and petitioners, transients, sunglass sellers and street artists. Each year, about 16 million people ride the free shuttle buses that carry people along it.

  Feds sue Wells Fargo, alleging mortgage fraud The U.S. government sued Wells Fargo & Co. on Tuesday, claiming the bank -- Colorado's largest -- committed fraud by recklessly approving government-backed mortgages and then seeking government insurance when those loans flopped.

  August real estate sales were strong EAGLE COUNTY, Colorado — Real estate sales in August continued the comparatively brisk pace this year, but prices paid continue to lag. According to the latest report from Land Title Guarantee Co., there were 164 sales in August, a 30 percent jump from August of 2011, and a number not seen since the market dived in late 2008. For 2012 so far there have been 971 sales, just 74 sales fewer than in 2008, and 133 more than last year.

  Walmart Pulls Out Of University Of Colorado Medical Campus Redevelopment Plan Residents near 9th Ave and Colorado Blvd. who were opposed to a Walmart being built in the area won a big victory Tuesday -- Walmart has decided to pull out of the proposed redevelopment of the University of Colorado medical campus.