Denver’s Multifamily Rollercoaster: From Oversupply to a Severe Shortage
Right now, Denver is experiencing a temporary oversupply of multifamily units, with elevated vacancy rates and softening rents. But that relief won’t last long. By 2025, the market will flip as new supply dries up and demand outpaces deliveries.
Here's the outlook:
2025: ~7,500 units projected (down from the 9,000-10,000 average)
2026: ~5,000 units projected
2027: Even fewer
Even more concerning—construction starts are down by 50%, meaning the development pipeline is collapsing. We can’t approve projects or build fast enough to make up the difference.
What does this mean?
The current oversupply will burn off by late 2025
Rents will rebound sharply as demand outstrips supply
Affordability pressures will return—likely worse than before
How do we prevent a long-term crisis?
Streamline approvals so projects can break ground faster
Incentivize new development with tax abatements & public-private partnerships
Push for zoning reforms that allow higher density & mixed-use projects
Attract capital back to multifamily with creative financing structures
United HQ?
https://www.msn.com/en-us/video/news/united-airlines-signals-possible-headquarters-relocation/vi-AA1yHHPy?ocid=socialshare&t=10
United Airlines Takes Off in Denver: Watch the Exciting Expansion Unfold!
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Nearly four years have passed since we initiated the first SDP submission for 61st and Tower. Thanks to perseverance and collaborative efforts, we have successfully secured approval for 1,048 units at PENA Station Next. This trio of projects encompasses ELIO, a mixed-use podium experience; ESTELLE, a sophisticated resort-inspired community; and CASSINI, a vibrant mixed-use development situated at Aviation Place, adjacent to the light rail station and a 1.7-acre park. We eagerly anticipate breaking ground on these developments in the near future!
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United Airlines is expanding its presence near Denver International Airport with a new flight training center and potential campus. This strategic location, adjacent to ZeroSixThree’s developments located at PENA Station Next underscores the growing significance of the area. The expansion promises job creation and further infrastructure investments, benefiting both United Airlines and surrounding businesses. For 063, this proximity presents opportunities to collaborate on community-building and growth initiatives as the region strengthens its aviation and development sectors.
For more details, visit the full article.