Real Estate Blog

More than half of the households buying homes in metro Denver are pulling down six-figure incomes, according to a new study from Zillow.

And those homebuyers, at the median, make double what households renting in metro Denver do.

“You can’t escape the rising costs of home values that are rapidly outpacing incomes. It pushes home ownership further and further out of reach,” said Zillow senior economist Aaron Terrazas.

Zillow estimates that in 2017, 52 percent of homebuyers in metro Denver made $100,000 or more in household income, up from 42 percent in 2012. That share ranked ninth highest among the 36 large metros that Zillow studied and the highest for a noncoastal city.

The median income in metro Denver for buyers was $100,288 versus $49,800 for renters. And the gap of $50,488 wasn’t necessarily about buyers getting bigger pay raises than renters. Renter incomes actually rose faster than those of buyers in that time frame, but not fast enough to keep up with rising home prices.

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The Maryland-owned hotel posted an operating loss of $5.4 million in fiscal 2018.

Pittsburgh Planning Commission OKs demolition plan for first building on Boulevard of the Allies in block owned by Troiani family

The bank will consolidate its operations at the new headquarters building by early April.

On another project, the developer has the backing of institutional investors advised by J.P. Morgan Asset Management.

The 6.5-acre site, which abuts the future GE headquarters, could host more than 1 million square feet of new development.

The fast-growing co-working company signed a lease to move into 40,000 square feet in Palo Alto — easily one of the most sought-after office markets in the region.

LG Realty President Larry Gumberg expressed confidence that the long and contentious process of starting the redevelopment on the former site of Penn Plaza is now poised for a final approval by the Pittsburgh Planning Commission.

After demolishing a long-time apartment complex on the nine-acre site a few years ago, LG Realty presented a detailed proposal for a new $50 million retail-and-office complex for the first phase of a larger plan to the Pittsburgh Planning Commission today. The briefing…

The $51 million sale came not longer after T-Mobile renewed its lease at the property, Canyon Pointe.

The development, which will house several university programs, will be funded through city revenue.