Wednesday, December 11, 2013

Housing News Digest, December 11

Colorado gets $62.8M from Housing and Urban Development (HUD) for flood recovery LYONS, Colo. - The government says another $62.8 million is coming to Colorado to help the victims of the September flooding. U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan made the announcement on Thursday saying the money will "help communities recover from severe storms in September that produced devastating floods and mudslides." The news release said the money would come from HUD’s Community Development Block Grant Program and would go to areas with the greatest extent of "unmet need," primarily in Boulder, Weld and Larimer counties. However, there are still questions about who will get the money and how it will be spent.

  New nonprofit wants to transform condemned houses There are dozens of them scattered throughout the city, and many more that barely miss the classification. And while the aesthetics of condemned houses may be what first cause notice, Tom Wasinger, supervisor of the city's Code Enforcement Unit, says they can actually be a safety hazard as well, often attracting vagrants and criminals. Code Enforcement is responsible for encouraging owners to clean up hazardous homes, and can even take possession in extreme cases, but lacks the resources to do that very often.

  Colorado Springs-area homebuilding slows in November for fourth straight month The pace of homebuilding slowed again last month in the Colorado Springs area, although some builders say they're not worried that they're headed for another construction downturn. A Pikes Peak Regional Building Department report released Monday showed that single-family building permits totaled 148 in November, down nearly 19 percent from the same month last year. It's the fourth consecutive month that single-family permit totals have fallen on a year-over-year basis.

  Nearly $63 million allotted for Colorado flood recovery LYONS - Despite icy temperatures on Thursday, Colorado Governor John Hickenlooper along with Senators Mark Udall and Michael Bennet visited areas hit hard by the September floods. They started in Lyons, where HUD Secretary Shaun Donovan announced nearly $63 million in block grants would go toward homeowners to help with flood relief.

  Colorado Springs apartment complex bought for record $54 million A California real estate company has paid $54 million to purchase the Alexan at Briargate apartment complex in northeast Colorado Springs, another sign of the red-hot local multi-family market. Passco Companies LLC of Irvine, Calif., a privately held firm that specializes in the investment, acquisition, development and management of commercial properties nationwide, completed the purchase last week of the 332-unit complex east of Powers and Union boulevards.