Connect with us

Colorado

Tatiana Bailey: Has Colorado Springs overbuilt apartments?

Published

on

Tatiana Bailey: Has Colorado Springs overbuilt apartments?


Many people have asked me about the plethora of new apartments in our region and if we’ve overbuilt. Most people have heard about the national and regional housing shortage, but they still wonder if we’ve overbuilt apartments and whether vacancy rates are going up.

The answer is nuanced. It is true that our region has a shortage of roughly 8,500 housing units, which includes both multifamily apartments and single-family homes. It is also true that we had an absolute boom in multifamily construction during the pandemic. A high number of permits were pulled, initiating an unprecedented number of new apartment projects.

Most projects take a minimum of two to three years to complete, so we are now facing an absorption problem with many of those apartment buildings finished, creating a glut of new product.

Advertisement

The other major problem, which is the bigger challenge, is that much of the new product is for high-end renters. What we have is a shortage of affordable apartments. Local rents average about $1,500 a month, and the vacancy rate is at 7.2%.

Builders and investors in multifamily projects face higher material and labor costs compared to pre-pandemic levels, higher financing costs due to higher interest rates and increasingly expensive lots. If it’s expensive to build a unit, it will be expensive to rent a unit.

Receive a weekly roundup of business news around El Paso County.

Success! Thank you for subscribing to our newsletter.

The multifamily market is now adjusting with actual declines now in permits pulled and projects started. Multifamily starts in the U.S. are running nearly 50% below their year-ago pace. This is also true regionally for both single and multifamily permits.

But the conundrum is that less supply isn’t necessarily good, because we do have a structural shortage of housing. Lower supply also means more upward pressure on prices.

The U.S. median price of a new condo has increased from $450,000 in 2018 to $550,000 in 2023. But building mostly high-end housing isn’t the solution. The National Low Income Housing Coalition estimates the U.S. is short 7.3 million housing units for low-income renters. Many cities have mandates for builders to construct a certain percentage of affordable units, but that’s not enough, and waiting lists are long for prospective tenants.

Advertisement

Montana is experiencing an influx of homebuyers from more expensive regions. To get ahead of the affordability issue, they’ve legalized several meaningful measures like allowing accessory dwelling units on any lot with a detached home. They’ve legalized dense housing and mixed-use buildings within all commercial zones.

Montana’s new laws also allow duplexes on any residential lot. New residential construction only allows one parking space per home. They’ve accelerated the permit review process.

These may seem like radical ideas, but I’d rather get ahead of the problem before middle-class workers and their families decide not to live here.

Other Gazette articles, TV segments and DDES monthly economic dashboards can be found at ddestrategies.org.



Source link

Advertisement

Colorado

New law seeks to help Colorado counties comply with state landfill emission rules, avoid major spike in trash fees 

Published

on

New law seeks to help Colorado counties comply with state landfill emission rules, avoid major spike in trash fees 


A new law signed by Colorado Gov. Jared Polis seeks to help county landfills comply with state emission-reduction requirements without having to dramatically increase trash fees. 

Senate Bill 101 allows landfill owners to apply for grant money to help pay for new methane capture and monitoring infrastructure. It was signed by Polis on May 21.

The measure came in response to concerns from rural county officials who said complying with the new mandates would mean potentially having to hike trash collection fees, commonly called tipping fees, to help cover the costs. 



“I think we have a responsibility as a state to control methane and keep our air clean and do what we can to combat climate change,” state Sen. Dylan Roberts, a Frisco Democrat and one of the bill’s lead sponsors, said during a legislative hearing in April. “The reality on the ground is that counties have to grapple with the costs of that.”

Advertisement

Under rules passed last year by the Colorado Air Quality Control Commission, public and private landfills that meet certain thresholds for methane emissions must install new pollutant control and monitoring systems, end open flare burning of methane and be equipped with biofilters. 



Landfills are the third-largest emitter of methane in Colorado, according to state data, and the second-largest driver of climate change after carbon dioxide. While methane has a shorter lifespan than carbon dioxide, it is also more potent, with a warming effect that is 86 times stronger than carbon dioxide over a 20–year-period, according to the Climate and Clean Air Coalition. 

The new rules go into effect in 2029, though some landfills have up to three years after that to install the emission capture and monitoring technology. 

Mountain counties with publicly-owned landfills estimate the costs of installing new equipment alone will be in the millions. In Garfield County, officials project the upfront cost of new equipment and technology could be around $2 million to $2.5 million. In Summit County, costs are projected to be around $3 million, while in Pitkin County, officials are estimating about $3.5 million.

Under the newly-signed bill, counties will be able to apply for funding from the state’s community impact cash fund, which primarily goes toward environmental projects in communities affected by air pollution. 

Advertisement

The bill does not stipulate how much funding will be made available from the fund for landfill projects, but it does require the Colorado Department of Public Health and Environment to prioritize funding for publicly-owned landfills over private ones. Last year, the fund was estimated to have around $9 million, though about $5 million was diverted to the state’s general fund for the upcoming fiscal year’s budget to help close a roughly $1 billion spending gap. 

Kelly Flenniken, executive director for Colorado Counties, Inc., a nonprofit representing all 64 of the state’s counties, said she hopes the opportunity for new state funding will help mitigate the need for local governments to raise trash fees. But she added it won’t be a complete solution.

“Some counties, depending on how big their landfill is and what the estimate was for that equipment, still may need to raise some fees,” Flenniken said, noting that counties will also be in competition with one another for funding. 

Supporters of the bill had initially hoped to go further by giving counties more leeway when it came to complying with the new methane rules. Initially, the bill would have created a waiver process for landfill owners to request more time for compliance and would have shielded landfills from penalties for noncompliance if they could show that the reason was purely due to financial inability. 

Those provisions were stripped after facing pushback from environmental groups, who felt the original bill would allow landfill owners to skirt the state’s clean air rules and could jeopardize climate goals. 

Advertisement

“It’s not necessarily the pinnacle solution we were hoping for, but we do feel like it will certainly offset (costs) in a tremendous way that will help Coloradans not have to pay a lot more to dispose of their trash properly,” Flenniken said of the bill’s final version. “I don’t think it solves the whole problem, but I do think it helps.” 





Source link

Continue Reading

Colorado

Colorado’s Big Weekend Transforms Recruiting Ranking

Published

on

Colorado’s Big Weekend Transforms Recruiting Ranking


The Colorado Buffaloes added two four-star recruits in the course of two days. Offensive tackle Li’Marcus Jones and wide receiver Jaiden Kelly-Murray committed to the Buffs on Saturday and Sunday, respectively, per On3. The site also lists both as four-star recruits

Advertisement

With these major additions to their 2027 class, the Buffaloes now sit much higher in both the national and Big 12 recruiting rankings. Per On3, Colorado has the No. 2 recruiting class in the Big 12 and the No. 38 class nationally.

How the Colorado Buffaloes’ 2027 Recruiting Class Stacks Up Against the Big 12

Advertisement

Nov 9, 2024; Lubbock, Texas, USA; Colorado Buffalos head coach Deion Sanders and Texas Tech Red Raiders head coach Joey McGuire after the game at Jones AT&T Stadium and Cody Campbell Field. Mandatory Credit: Michael C. Johnson-Imagn Images | Michael C. Johnson-Imagn Images

Advertisement

With the additions of Jones, Kelly-Murray and underrated cornerback Prince Washington, the Buffaloes reached the top five of the Big 12 in recruiting rankings. The Buffaloes rank second in the Big 12 per On3 and fourth per 247Sports. The former gives the Buffaloes a class rating of 86.412, only trailing the Texas Tech Raiders’ class, which is rated a 93.413. 

Colorado is tied with the Red Raiders with nine total recruits, a total that ranks third in the Big 12. The primary difference between the two classes is the Red Raiders’ two top recruits, who are among the best overall prospects in the nation. Those players are five-star defensive lineman Jalen Brewster, who is On3’s top-rated player nationally, and five-star edge rusher Anthony Sweeney. 

The reputation Texas Tech has built for its ability to develop premier pass rushers is what makes it such a draw for these high-end recruits. Colorado has been pursuing pass rushers in its own right, adding Ba’Roc Willis and Kenny Fairley, both of whom are listed as three-star recruits by On3. 

But Texas Tech freshly sent edge rusher David Bailey to the NFL after developing him from a decent contributor in the pass rush to a dominant force in just one year as a Red Raider. Still, despite that reputation, Colorado has been competitive with Texas Tech on the recruiting trail and is hot on its tail after an eventful week of commitments.

Advertisement

The Colorado Buffaloes’ National Recruiting Rankings Climb

Oct 11, 2025; Boulder, Colorado, USA; Colorado Buffaloes head coach Deion Sanders before the game against the Iowa State Cyclones at Folsom Field. Mandatory Credit: Ron Chenoy-Imagn Images | Ron Chenoy-Imagn Images
Advertisement

The Buffaloes also saw a major jump in the national rankings, entering the top 40 of both On3 and 247Sports’ rankings. The former has the Buffs listed as having the No. 38 recruiting class nationally, whereas the latter ranks them 35th in the country. 

Advertisement

Colorado has come a long way since mid-May, when it held a sub-top-50 recruiting class in both sites’ rankings. 

How the Colorado Buffaloes Generated a Burst of Recruiting Commitments

Advertisement

Nov 1, 2025; Boulder, Colorado, USA; Colorado Buffaloes head coach Deion Sanders before the game against the Arizona Wildcats at Folsom Field. Mandatory Credit: Ron Chenoy-Imagn Images | Ron Chenoy-Imagn Images

That climb was no coincidence, though. Colorado held a major recruiting weekend from May 15 through May 17. It hosted four four-star recruits and several additional recruits with three-star and below ratings on official visits during that stretch, according to LockedOnBuffs.

Jones and Willis were among those in attendance, in addition to safety/quarterback Gabe Jenkins. The two-way player is a four-star recruit according to both On3 and 247Sports, with the former announcing his commitment on May 20.

Deion Sanders and his staff are ahead of the curve when it comes to their 2027 class, and as the summer rolls along, the Buffs will look to climb even higher in the national rankings.

Advertisement

Sign up to our free newsletter and follow us on Facebook for the latest news. 

Advertisement
Add us as a preferred source on Google



Source link

Continue Reading

Colorado

GoPro Mountain Games prepares to kick off in Colorado mountains, including new event

Published

on

GoPro Mountain Games prepares to kick off in Colorado mountains, including new event


The Vail Valley Foundation unveiled Friday a brand-new course for the adidas TERREX 20K Trail Run at the 2026 GoPro Mountain Games June 4-7, sending runners all the way to Mid-Vail for the first time in the event’s history.

The 20K on June 7 leaves behind its traditional two-lap format in favor of a single loop that climbs higher up Vail Mountain than the race has ever gone before, gaining 2,500 feet of elevation and topping out at nearly 9,900 feet. The course still starts and finishes in Nature Valley Mountain Plaza in the heart of Vail Village, but the new design rewards runners with a true summit experience and views that set it apart from nearly any other 20K in the country.

“The 20K has always been our most demanding trail race at the GoPro Mountain Games, and this year brings a new and exciting challenge for athletes,” said Peggy Wolfe, senior director of operations for the Vail Valley Foundation. “This is a course for bold runners. The climb will test you, and the views waiting at Mid-Vail are the kind you won’t forget. This is a once-in-a-lifetime experience, and we can’t wait to share it with runners.”



The complete 20K course will be unveiled in the coming days at mountaingames.com and in the Mountain Games app.

Advertisement
Registration is now open for the GoPro Mountain Games. Prices go up May 27.

A full weekend of running

The 20K is one of several running events getting a refresh at the 2026 GoPro Mountain Games. The adidas TERREX Sunday Funday 5K debuts a brand-new course of its own, and the adidas TERREX 10K Spring Runoff features an improved race format. With each Sunday running race now on its own route, runners will have more room to find their rhythm and race their best.



The Nature Valley Mountain Mud Run is getting a refresh of its own with the all-new Mega Mud Pit: a single, longer pit that replaces the two mud pits of years past for one bigger, muddier challenge. As part of the Mountain Games’ Protect Our Playground commitment to conserving water, the post-race rinse zone has also been replaced this year with a cleanup station stocked with rinse-free body wipes from Rugged Revive and towels.

New for 2026, the Kids Mini Dash brings young runners ages 6 to 12 into the fun with both a long course (approximately 2K) and a short course (approximately 1K). It joins a running lineup that spans every age and ability, including the BFGoodrich Rocky Dog Fun Run, the adidas TERREX Après 5K, and adidas TERREX Pepi’s Face-Off. In all, the 2026 GoPro Mountain Games will host eight running events across the four-day festival.

A new single-loop course leads a slate of running updates at the GoPro Mountain Games.

Registration prices increase May 27

Registration for all 2026 GoPro Mountain Games competitions, including the running events, is open at mountaingames.com. Prices increase on May 27, so athletes are encouraged to register now for the best available rate. Athletes receive exclusive perks, including an athlete bag packed with swag, discounts to Mountains of Music concerts, access to the STōK Cold Brew Athlete Lounge, and more. Spectating remains free and open to all.

Athletes already registered for the 20K who would like to adjust their plans given the increased climb can reach out to registration@vvf.org.

For the full event schedule, race courses and more, visit mountaingames.com or download the Mountain Games app.

Advertisement





Source link

Continue Reading
Advertisement

Trending