Thompson Thrift Participates in Panel Discussion about Colorado Multifamily Market during Colorado Real Estate Journal Conference
April 16, 2024
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:
- Deal economics
- Construction costs
- Labor availability
- Supply/demand metrics throughout Colorado
- 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.
