Real Estate Blog

Mark Dotzour says he sees “zero chance” of a recession in 2019.

Editor's note: Throughout winter, the Minneapolis/St. Paul Business Journal will publish a weekly Dream Getaways feature, giving our readers a look at luxury properties on the market in warm locales far from Minnesota's frigid prairie. This one comes courtesy of the South Florida Business Journal.

Most of the vessels at Miami's docks are meant for motoring around, but Arkup LLC is looking to change the tide with its floating villa.

The future owner of Arkup #1 may not have to worry about sea…

About 8,500 units are expected to come online across metro Phoenix in the next 12 months — representing a 2.4 percent increase in supply.

The buildings collectively represent over $1.3 billion and will give UCSF a significant increase in state-of-the-art facilities.

New York residential real estate firm Compass acquired customer relationship management software firm Contactually Inc. — a reportedly popular tech tool for many of Compass' competitors.

Contactually is used by agents at Realogy, RE/MAX and other home-selling firms, according to industry publication Inman.

Compass, which has been growing quickly in Austin to capitalize on the red-hot home market, did not disclose the terms of the deal, which closed Feb. 25, according to Compass. But one source…

The property was last assessed for $20.1 million, according to the Bexar County Appraisal District.

What do you do in a rental market where seemingly every new apartment building is offering a boatload of amenities and high-end finishes? If you’re Charleston, S.C.-based apartment developer Greystar you double down and build an extra luxury project.

That’s what’s going on at 909 Bannock St. where Greystar and general contractor Milender White are about six months from completion of the Parq on Speer apartment building.

The 16-story building’s 301 units — 38 studios, 124 one-bedroom apartments, 101 two-bedrooms, 16 three-bedrooms, 16 penthouses and four townhomes — range in size from around 540 square feet to more than 3,400. All come with hardwood floors (not laminate, Greystar officials emphasize) gas stoves, tiled backsplashes and so-called “smart home” technological features like lighting that can be controlled through a Bluetooth connection, Nest smartphone connected thermostats and Wifi enabled entry.

Outside of the apartments, Parq on Speer will include 50,000 square feet of ..

More than 26,000 residential units — a combination of single-family homes, duplexes, townhomes, apartments and condos, and mixed-use projects — have been permitted in Denver since 2016, according to data from the Denver Community Planning and Development department.

Some 12,800 apartment and condo units have been permitted, more than double the number of residential units in mixed-use projects.

The Gateway-Green Valley Ranch and Stapleton neighborhoods have the most single-family homes permitted. Five Points, Gateway-Green Valley Ranch and West Colfax have the most apartments and condos permitted, while Union Station has the most mixed use projects with residential units.

RELATED: “We suck in Denver, huh?” Here’s how development is shaping the mayor’s race in 2019

Mayor Michael Hancock sat and listened for 45 minutes on a recent Saturday morning as three people explained why he should lose his job. He was the last speaker in a forum featuring the major mayoral candidates in Denver’s contentious election.

The challengers’ attacks were plentiful, but they shared one common theme: the city’s explosive development. They said the city was on “an unsustainable path of growth and development,” that “residents have felt ignored,” and that Denver is “dramatically out of balance.”

So, when it was finally his turn to speak, the incumbent grinned and adjusted his sport coat.

“Well, that was fun,” Hancock told the crowd of local politicos. “We suck in Denver, huh?”

He was joking, of course — but the moment illustrated how development is driving one of the city’s most crowded election cycles in decades. Hancock, who cruised to a re-election victory in 2015 amid an economic boom, now faces a referendum on growth and its impacts in his final re-election cam..

A common misconception about renters is that they rent because they don’t have any other option. Given enough time and a high enough income, they will eventually buy a home or condo. But in metro Denver, it appears that isn’t the case for a growing number of people.

Metro Denver had the largest percentage increase the past decade of any major metro in the number of households who rented and made $100,000 or more a year, according to a new study from Apartment List.

The number of renter households in metro Denver who clear that kind of income, which should be enough to buy a home or condo, shot up 146 percent between 2008-17. Nationally, the increase was 48 percent.

“I do believe the American Dream is evolving. It no longer is about owning the single-family home with a white-picket fence. It is about flexibility and being able to pick up and move,” said Nancy Burke, vice president of government affairs with the Apartment Association of Metro Denver.

RELATED: Millennials face major h..