CREJ release

Denver, CO

DENVER (April 16, 2024) – Thompson Thrift, a full-service real estate company engaged in multifamily, mixed-use, retail, industrial and commercial projects across the country, announced today that Senior Vice President of Acquisitions Brian Southworth participated in a panel discussion about the state of the Colorado multifamily market at the 2024 CREJ Spring Multifamily Development & Investment Conference in Denver.

The sold-out conference brought together leading developers, lenders, brokers and investment firms focusing on the Colorado multifamily market. Southworth was a panelist on the developer panel which discussed numerous topics from:

  1. Deal economics
  2. Construction costs
  3. Labor availability
  4. Supply/demand metrics throughout Colorado
  5. Regulatory environment

Southworth's primary takeaways from the developer panel were:

  • Deal economics will remain challenging in the short term as most Colorado markets work through a significant amount of new supply. With that, new supply in metro Denver is peaking and fundamentals should start to improve as new supply gets absorbed.
  • Developers are starting to see construction costs level off or come down slightly in some instances.
  • The sizeable affordability gap between renting and owning in Colorado has continued to grow and should provide continued tailwinds to multifamily demand.
  • Regulatory changes adopted by the city and county of Denver have made it very challenging for developers and will throttle new supply and exacerbate housing affordability issues.
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