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After months of contentious discussions with Colorado Springs property owners, City Council has finally created new regulations to govern the operation of short-term rental properties, commonly offered through online booking platforms like VRBO and Airbnb. A divided Council voted 5-4 on Dec. 5 to approve new provisions as recommended by the City Planning Commission, which […]
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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 — so he and his siblings […]
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Developers associated with the Gold Hill Mesa neighborhood are exploring legal action against the Colorado Springs Gazette in light of its recent three-part series about the Westside subdivision it reported is sitting atop shifting soils. The newspaper’s first installment, published Aug. 25, said that city planners and regional building staff allowed development at Gold Hill […]
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At the Colorado Springs City Council session on Oct. 22, councilors were scheduled to vote on a trio of measures that will determine how short-term rental properties, commonly booked through websites like Airbnb, are regulated throughout the city in the years to come. On the agenda were proposed ordinance amendments setting caps on occupancy and […]
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Owners who are thinking of selling their businesses have picked a great time to do it. “This is probably the best market that I have ever seen,” said Ron Chernak, president of FBB Group Ltd., whose firm has been selling businesses in Colorado Springs for 37 years. Thanks to the strong economy, businesses are enjoying […]
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In 2007, Holly Trinidad traded the glitz and glamour of Los Angeles for her hometown of Colorado Springs, fully expecting to return to a city that was — at least décor-wise — suspended in the past. “We were moving from a really cool part of Los Angeles, so it was like, ‘Oh, we’ve moved to […]
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Studies have shown that proximity to boutique and high-end grocery stores such as Trader Joe’s and Whole Foods can be a boon for home values. However, El Paso County officials say that living near one of these stores is not directly related to increased property values. A study released this month by ATTOM Data Solutions, […]
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While local housing experts agree the rising rental costs in the Pikes Peak region need to be addressed, most do not believe the answer lies in a proposed legislative measure that would have allowed local municipalities in Colorado to set rent control policies. The controversial Senate Bill 225 is likely dead prior to its second […]
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By Faith Miller – Colorado Springs Independent Editor’s note: This is the second 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. It’s impossible to know how many people have been affected by the affordable housing shortage in Colorado Springs — […]
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The Ivywild School development was envisioned as a gathering place in a historic neighborhood where people could sip a handcrafted beer, enjoy a meal or snack, buy locally grown food, go to a concert or attend a meeting. Since it opened in the summer of 2013, Ivywild, at 1604 S. Cascade Ave., has promoted redevelopment, […]
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A shortage of entry-level homes in the Colorado Springs market is making it harder for Millennials to fulfill their American Dream. “I believe there are more young people that would be buying homes now, if there was more affordable inventory available to do so,” said Tony Rose, broker and owner of Rose Real Estate LLC. […]
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Editor’s note: This is the first of a two-part series with nine local stakeholders discussing their industries and how they’re preparing for the next economic downturn.  It’s an interesting time to live in Colorado Springs, let alone to run a business. Though the city’s booming economy might encourage increased investment, many fear the next economic […]
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