Labor availability, deal economics and
supply/demand imbalance key points of discussion
DENVER, April 16,
2024 /PRNewswire/ -- Thompson Thrift, a full-service
real estate company engaged in multifamily, mixed-use, retail,
industrial and commercial projects across the country, announced
today that Senior Vice President of Acquisitions Brian Southworth participated in a panel
discussion about the state of the Colorado multifamily market at the 2024 CREJ
Spring Multifamily Development & Investment Conference in
Denver.
The sold-out conference brought together leading developers,
lenders, brokers and investment firms focusing on the Colorado multifamily market. Southworth was a
panelist on the developer panel which discussed numerous topics
from:
- Deal economics
- Construction costs
- Labor availability
- Supply/demand metrics throughout Colorado
- Regulatory environment
Southworth's primary takeaways from the developer panel
were:
- Deal economics will remain challenging in the short term as
most Colorado markets work through
a significant amount of new supply. With that, new supply in metro
Denver is peaking and fundamentals
should start to improve as new supply gets absorbed.
- Developers are starting to see construction costs level off or
come down slightly in some instances.
- The sizeable affordability gap between renting and owning in
Colorado has continued to grow and
should provide continued tailwinds to multifamily demand.
- Regulatory changes adopted by the city and county of
Denver have made it very
challenging for developers and will throttle new supply and
exacerbate housing affordability issues.
Thompson Thrift is a full-service real estate development
company focused on ground-up commercial and mixed-use development
across the Midwest, Southeast and Southwest. The company has been
active in Colorado for 11 years
and has developed over 4,100 units in the state, which currently
includes 10 communities between Fort
Collins and Colorado
Springs.
The company continues to expand its footprint with eight new
residential developments targeted for 2024, including new markets
in Georgia, Utah and Idaho. Since its founding nearly 40 years ago,
Thompson Thrift has invested more than $5
billion into local communities and has become known as a
trusted partner committed to developing high-quality, attractive
commercial and multifamily communities.
About Thompson Thrift Real Estate Company
Thompson
Thrift is an integrated full-service real estate company with
offices in Indianapolis and
Terre Haute, Indiana; Denver; Houston and Phoenix. Three business units drive Thompson
Thrift's success—Thompson Thrift Residential which is focused on
upscale Class A multifamily communities and luxury leased homes,
Thompson Thrift Commercial which is focused on ground-up commercial
development, and Thompson Thrift Construction, a full-service
construction company. Through these business units, Thompson Thrift
is engaged in all aspects of development, construction, leasing,
and management of quality commercial real estate projects across
the country. The company earned national recognition as a winner of
a 2024 Top Workplaces USA award,
the latest accolade that reflects the company's ongoing commitment
to excellence in the community and workplace. For more information,
please visit www.thompsonthrift.com
Contact:
Jennifer
Franklin
Spotlight Marketing Communications
949.427.1385
jennifer@spotlightmarcom.com
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SOURCE Thompson Thrift