Thursday, January 17, 2013

Housing News Digest, January 17

Recovery of commerical real estate in Colorado Springs remains elusive COLORADO SPRINGS —Colorado Springs' housing market rebounded in 2012, but the same can't be said for commercial real estate. Vacancy rates remained historically high late last year for Springs-area commercial buildings, while rents fell, according to a fourth-quarter report by Paul Turner of Turner Commercial Research in Colorado Springs. The report suggests the commercial market has far to go before it recovers from the area's economic downturn. The combined vacancy rate for local offices, shopping centers and industrial buildings was 11.9 percent in the fourth quarter, up slightly from 11.6 percent a yearearlier, Turner's report shows.

  $230 million Schwab campus part of emerging trend Charles Schwab plans to build a 950,000-square-foot, $230 million campus in the 3,500-acre RidgeGate community in Lone Tree, officials announced on Wednesday. Coventry Development Corp.— the developer of RidgeGate, which has long heralded its community as providing urban-like features such as being walkable in a suburban setting — considers Schwab’s announcement the latest in an emerging trend of large corporations embedding themselves within mixed-use master-planned communities.

  Candelas construction under way with housing options New homes — and much more in the coming years — are starting to pop up in west Arvada. The homes are part of the Candelas residential and commercial development. Candelas is at Indiana Street and Candelas Parkway, just north of Coal Creek Canyon Road. The proposed Jefferson Parkway would run generally southeast of the residential area. The residential portion of Candelas is being developed by Terra Causa Capital and GF Properties Group.

  Colorado's 'best performing cities' ranked Denver ranks 30th out of 200 large metro areas on a new list of the nation's "best-performing cities" from the Milken Institute, released Thursday. The Denver-Aurora-Broomfield metro area improved in the new 2012 ranking by the nonprofit economic think tank from 44th in 2011, 63rd in 2010 and 55th in 2009.

  Affordable housing open house coming up Fort Collins is moving forward with plans to encourage more affordable housing. The city has scheduled an open house next week to review and invite comment on a draft affordable housing strategy plan. The draft addresses ways to preserve existing affordable housing, with an emphasis on mobile home parks. It also addresses potential changes to the city’s and property owners’ responsibilities to residents when redevelopment projects cause the displacement of people from mobile home parks.