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Unformatted text preview: s in 2009, a 10.5% gain. Average permit
value increased 3.9%, from $172,355 in 2009 to
$179,011 in 2010.
As expected, new arrivals at Fort Carson boosted
population growth and the demand for multifamily housing in 2010. Vacancy rates dropped, from
9.7% in 2009 to 6.6% in 2010. Rents increased an
average of $20 a month, or 2.8%, from $704 to
The lower vacancy rates and higher rents helped
stimulate very modest multifamily construction
in 2010. Permits for 88 units were taken in 2010
compared to 30 units in 2009. Permits for 232
multifamily units have been taken through June
2011. Permits for a 177-unit luxury complex were
recently pulled for a development in Monument. An uptick in multifamily permit activity is forecast—an increase of 550 units in 2011 and 500
units the following year.
Commercial construction value decreased in
2010 to $74.8 million, a decline of $207.2 million
(73.5%) from 2009. Current activity in nonresidential construction suggests 2011 will finish with
about $140 million of new commercial construction. Existing vacancy rates in al...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.
- Spring '13
- The Lottery