Friday, March 22, 2013

Two-thirds of multifamily permits in Denver and Broomfield during 2012

According to the Census Bureau, through December of 2012, there were 1,848 multifamily permits in Broomfield County and 4,356 in Denver County.

This article is about multifamily permits only. 

In the county-level permit data, there was a total of 9,807 multifamily permits through December, and almost two-thirds of these were issued in Denver County and Broomfield County, where, combined, 6,204 permits were issued for the year.

This matches up with the anecdotal evidence in which brokers were tellin gus that the hot spots were downtown Denver and the Boulder Turnpike corridor, this year.  These December year-to-date totals appear to back up those assertions.

The other counties that were very active for the year in multifamily permitting were Arapahoe, Douglas, El Paso and Larimer Counties. No other counties reported what might be called large amounts of new multifamily permitting.

some populous counties that reported very little multifamily permitting at all for the year were Weld County, with only 34 permits, and Mesa County with only 19 permits. Pueblo reported 92 permits for the year, all from one project due to be delivered late this year or early next year.

Multifamily permit totals for metropolitan counties in Colorado were (Jan-December 2012):

Adams 220
Arapahoe 746
Boulder 464
Broomfield 1,848
Denver 4,356
Douglas 590
El Paso 597
Jefferson 150
Larimer 691
Mesa 19
Pueblo 92
Weld 34

Year-to-year growth: 

Total permits were up 150 percent statewide from 2011 through 2012, although the change in specific counties varied considerably. 

Multifamily permits grew 156 percent in Denver County, while Broomfield permits increased from zero to 1,848 over the same period. 

In Douglas County, permits grew 131 percent, year over year, and they grew 47 percent in Larimer County. 

Permits in Mesa County actually fell from 64 to 19, dropping 70 percent during the period, and Weld County permits grew only slightly from zero to 34.  Permits also fell in El Paso County, dropping 9 percent. 

Boulder permits grew 350 percent from 2011 to 2012. 

See here for full data.