Monday, April 16, 2012

Housing News Digest, April 16

Struggle continues for commercial real estate market
Commercial real estate, hit hard in recent years by the local and national economic slumps, continued to struggle during the first quarter in the Pikes Peak region, according to a report by Turner Commercial Research of Colorado Springs.

Vacancy rates remained relatively high and rents fell in some segments of the market — more evidence that as the economy goes, so goes the commercial market.

Ruling against Archstone in case over apartment amenity fees
In a closely-watched case, a federal judge has ruled that one-time, nonrefundable amenity fees charged by Colorado apartment giant Archstone violate state law in Massachusetts.

Asbestos Find Leads to University of Colorado’s $1.5 Million Demolition Plans
The University of Colorado will demolish a building on campus next year after a health audit exposed that it contained large amounts of asbestos, which poses a long-term health threat to students and staff.

The College Inn building was used as an overflow housing dorm at the university, and local reports cite that it was constructed in 1964, a time when asbestos was widely used in construction materials.

Colorado Center for the Blind buys apartments on bus line to help students
Students at the Colorado Center for the Blind in Littleton have a new base for independent living while training at the center.

The center recently purchased an apartment complex on Lowell Boulevard near East Bowles Avenue for student residents. It's on a bus line that allows them to travel back and forth from the center on their own.

Bedbugs put bite on Springs landlords, renters
The diagnosis Jeannette Greer received during her visit to the Penrose Hospital emergency room in March was cellulitis, a skin infection that can have any number of causes.

But Greer says she knows the source of her infection: bedbugs. She started seeing them within hours of moving into her unit at Enfield Apartments in December, and despite numerous attempts by the property manager to eradicate the critters, they come back like a recurring nightmare, she says.