Melissa Marts had been on the job two days when her office phone started ringing off the hook with elderly clients growing increasingly desperate in their search for a place to live. “It is so hard for folks who have smaller incomes to find a place to live,” said Marts,...
Local entrepreneur James Johnson knows all too well the value of a good home — and not just because of his background in the real estate industry. Growing up in Washington State, Johnson and his family constantly bounced from one place to another — mostly due to financial constraints —...
When Mayor John Suthers delivered his State of the City address Sept. 12 at The Broadmoor, he devoted several minutes to a discussion of affordable and workforce housing. “Our booming local economy has led to increasing rents and housing costs, making the issue of affordable housing a very real one,”...
Public opinion on short-term rental properties — more commonly known as Airbnbs or VRBOs — has been notoriously fraught as the industry gains steam. One side hails the concept as a cheaper lodging alternative for tourists and a way for property owners to supplement their income; for others, Airbnbs...
Editor’s note: This is the third part in a three-part collaboration with the Business Journal’s sister publication, the Colorado Springs Independent, exploring in depth the region’s affordable housing challenges. State and local industry leaders say the cost of renting an apartment has started to level off after consistently rising the...
By Faith Miller – The Colorado Springs Independent With a proposed $18 million permanent supportive housing project for chronically homeless people, a local nonprofit has ventured into uncharted territory — and must wade through a complex federal funding process that even many experienced commercial developers have no idea how to...
Editor’s note: This is the first part in a three-part collaboration with the Business Journal’s sister publication, the Colorado Springs Independent, exploring in depth the region’s affordable housing challenges. What do a security guard, construction worker and school receptionist have in common? They can’t afford to buy a home in...
A Colorado bill that would increase protections for tenants is receiving criticism from landlords who argue that, if passed, it will lead to higher rents. House Bill 1170, co-sponsored by Rep. Dominique Jackson, Rep. Mike Weissman, Sen. Angela Williams and Sen. Jeff Bridges, would give renters more rights, including the...
By Faith Miller Woodland Park developers think a planned “small house” community called the Village at Tamarac is the answer to many people’s tiny-home dreams. But think “dreams” in terms of lifestyle, not cost — affordable housing experts say developments like these aren’t for those looking for a deal. The Village...
It’s no secret the price of building a home is getting more expensive in Colorado and in El Paso County. Before a house’s foundation is laid, costs start to accrue, including the charges for tapping into water and wastewater. “The water tap fees are expensive,” said Kevin Walker, public policy chair...
Home prices continue to rise in the Colorado Springs area, but that’s partly a reflection of the increased cost of building new homes. New-construction prices are going up, thanks partly to a spike in the cost of materials, particularly lumber, as well as labor costs. “Resales track new construction....
Since the Great Recession, the seven-county Denver metro region has added households at a rate far greater than housing units. The housing surplus that once existed has been consumed, and housing prices have risen far faster than wages. The result: Housing is increasingly unaffordable for many Coloradans. That conclusion holds...