Real Estate Blog

A Houston-based developer has its eyes focused on Cary for a multifamily development.

The St. Paul Port Authority announced Tuesday that current interim president Todd Hurley was appointed president.

The sales price for the 25,440-square-foot building rose 112% since it was last sold in 2019.

One expert said the Florida's Turnpike widening “could be catastrophic” for the city.

Development firm that brought popular bakery cafe to the South Side inks deal to bring it to new redevelopment plan in South Fayette.

The new executive order acknowledges that, given the rise of remote work during the Covid-19 pandemic, the need for child care downtown may not be as great as it once was.

As the number of homes for sale remains near all-time lows and monthly mortgage payments near a record high, building more housing could be one of the best ways to ease the affordability crisis.

According to the latest analysis by real estate company Redfin, Denver cracks the top 15 markets nationally when it comes to building new homes.

In the first quarter of 2022, Denver had 13.2 single-family building permits per 10,000 people.

“If there had been enough homes at the start of the pandemic, housing costs might not have skyrocketed the way they did over the past two years,” says Redfin Chief Economist Daryl Fairweather.

“The government should support homebuilding with things like subsidies and upzoning even as demand pulls back so the housing-supply hole starts to fill in.

“There still aren’t enough homes to meet the pace of household creation, and we need to be more prepared when demand inevitably picks back up.”

Building the right properties
The Denver metro area struggled wit..

Land near Denver International Airport will soon be transformed into a 3.9 million-square-foot industrial park after it was purchased for $49.7 million.

The sale included 316 acres of undeveloped land at East 56th Avenue and Harvest Road in Aurora between Interstate 70 and the airport, according to a Thursday news release by CBRE.

The Opus Group, which describes itself as a family of commercial real estate development, construction and design companies, bought the site from a private seller. It plans to call the development project “Sun Empire,” with its first phase planned to begin later this year.

“Our team first identified the potential of this site for industrial development two years ago,” said Todd Witty, senior vice president at CBRE, adding that they worked with Opus “to get the land under contract in a competitive timeframe.”

The project will consist of two buildings, with the next construction phases based upon tenant needs. In particular, Witty’s team is seeing activity ..

Homebuyers in metro Denver are getting stretched by high home prices and rising interest rates, but the situation isn’t as bad for renters in market-rate and professionally managed apartment buildings, the kind that dominates in places like central Denver, the Denver Tech Center and Boulder.

Renters in those units, which make up under half the total apartments out there, are paying on average 21.8% of their household incomes in metro Denver toward the rent, according to a new affordability study from RealPage.

That is below the U.S. average burden of 23.2% and comparable to regional rivals such as Dallas and Phoenix. It is also well below the 30% of income that housing advocates recommend people try to stay below to avoid becoming financially burdened.

“Some of the income levels in Denver have increased over the past two years because you are capturing residents who have lived in higher cost areas,” said Carl Whitaker, director of research and analysis at RealPage. “They are maintai..

Look online for a single-family home and there are very few listings for under $350,000 left in metro Denver. Most are either decades old or in need of significant repairs.

But in Green Valley Ranch, Oakwood Homes has launched a new line of stand-alone starter homes called On2 starting in the low $300,000 range. The goal is to eventually push starting prices to under $300,000, or less than half the $600,000-plus new starter homes now command in metro Denver.

Granted, the two-story homes aren’t spacious, about 1,100-1,200 square feet and they have crawl spaces and no basements. Customization is minimal. They take up most of the lot they are on and neighbors are close — really close. Garages cost extra and are detached under current designs, but the plan is to eventually to include a three-story model with an attached garage on the first floor.

But the two- and three-bedroom homes are solid, energy efficient and nicely finished. They come with granite countertops and higher-end vinyl ..