Wednesday, March 6, 2013

Housing News Digest, March 6, 2013

Local living costs move closer to national average Living costs in Colorado Springs last year moved the closest to the national average that they have been in eight years, according to a national survey. Local living costs were 3.7 percent below the national average during 2012; that’s the closest they have been to the national average since 2004 and up from 7.5 percent below the average a year ago, according to annual results from a quarterly survey by the Council for Community and Economic Research.

  Presidential Ridge plan denied amid concerns Plans for a north Thornton residential development that would border the Regional Transportation District’s North Metro Line remains on hold for now while developers return to the drawing board. Thornton City Council unanimously voted to deny a conceptual site plan and comprehensive site plan amendment for the Presidential Ridge property near East 100th Avenue and Colorado Boulevard during its Feb. 27 meeting. Mayor Pro Tem Val Vigil was absent.

  Housing market shifts in Colorado Springs COLORADO SPRINGS, COLO. -- After years of being a buyer's market in Colorado Springs experts say the tables are turning. Over the last six months the market has transformed into a neutral market and is now turning into a seller's market.

  South metro cities tout jobs, development City leaders from five South Metro communities gathered at Arapahoe Community College to celebrate accomplishments of 2012 and preview what’s in store for the coming year. The Feb. 22 panel, hosted by First Bank, served as platform for announcements, as well as good-natured ribbing. A shared vision for transportation connectivity was a common theme, but the biggest news came in the form of economic development across the community.

  Calif. investor buys Shannon Hills apartment complex A California real estate investment firm has purchased 70-unit Shannon Hills Apartments near Constitution Avenue and Union Boulevard. Western Investment Partners paid $3.415 million for the property at 2110 E La Salle St., which was built in 1966 and 1974. That’s $48,786 per unit and $60.82 per square foot, according to a release from Apartment Realty Advisors, which brokered the sale.