Friday, August 19, 2011

Housing News Digest, August 19

Littleton apartment complex an eyesore no more

An apartment complex on South Delaware Street in Littleton has been transformed from an eyesore to a needed residence for low-income and handicapped residents thanks to a community-wide partnership.

Officials of the Community Housing Development Association debuted the renovated 12-unit Regal Apartments in Littleton last week for project partners, including the Arapahoe/Douglas Mental Health Network, Arapahoe House and Developmental Pathways.

Greeley vacancy rate loosens to 6.7 percent from 3.8 percent in the first quarter

The tightest local rental market in a decade loosened a bit in the second quarter, but Greeley apartment vacancies remain relatively low at 6.7 percent, according to a survey by the Colorado Division of Housing.

Greeley’s multifamily vacancy rate of 3.8 percent in the first quarter was the lowest rate in 10 years and pushed average rents up to $660.

Average apartment rents in Greeley in the second quarter — reflecting the loosening vacancy rate — were $649, compared with $618 in the year-ago period, the survey said.

Students take up residence in CSU dorms
In the next few days, about 5,200 students will move into the CSU residence halls as the university prepares for fall classes to begin.

CSU's residence halls are filling to capacity as students move in. An expected 4,500 freshmen are expected to enroll this semester, although the formal number won't come until later this fall.

Vail explores Timber Ridge upgrades
VAIL, Colorado — The town of Vail is in negotiations with Vail Resorts over the ski company's lease renewal of more than 100 units at Timber Ridge, the largest employee housing development in the town of Vail.

Vail Resorts' lease expires in September and Vail Housing Director Nina Timm expects the company to renew about the same number of units it leases now, 115.

Denver home market No. 1 by median-age metric
For the fourth consecutive month, the Denver-area housing market in July led the nation as far as the fewest number of days unsold homes have been languishing on the market, according to a report released today.

The median age of Denver housing inventory was 32 days last month, continuing a trend that began in April as the city with the lowest median aged inventory in 146 metropolitan statistical areas tracked by, an arm of the National Association of Realtors.

Nationally, the median age of inventory was 97 days in July, three times as much as in Denver.