CREJ - Multifamily Properties Quarterly - February 2017
We’re starting the year with an issue chock-full of articles addressing some of the hottest topics in our industry: the lack of affordable housing continues to plague conversations about Denver’s market and demand for sustainable practices continues to grow. The city of Denver wrote an article on Page 18 that rounds up many of the affordable projects with a handy map to see the locations and sizes of these developments. Further, on Page 26, Erik Okland with Cuningham Group Architecture shares his perspective working on Northfield at Stapleton Apartments, a project that used Denver’s Revolving Affordable Housing Loan Fund. The project features 840 affordable units designed to blend in with market-rate apartments in the Stapleton neighborhood. The article offers great insight into how this type of project comes together. Okland’s team put great emphasis on ensuring the project met energy efficiency goals. On Page 12, Ray White with JLL writes why he believes the green movement is not some passing fad, but rather a new standard for Colorado multifamily properties. To further support White’s argument, 2017 ushers in new requirements for water fixtures. All fixtures sold in Colorado now must be approved to meet the Environmental Protection Agency’s WaterSense certification. Read about how it will affect your future project on Page 14. One more way energy efficiency is leaving its mark on the multifamily market is within the realm of construction. Satyen Patel writes that there is a building materials evolution occurring due to a desire to embrace sustainable practices, which is a good thing, considering that construction and demolition debris accounted for more than 66 percent of the total waste generated in the U.S. in 2014, according to a study released by the EPA. Over the past few months, some headlines regarding the national multifamily market caught my attention. The Wall Street Journal pondered if the luxury apartment boom faces a glut, while the New York Times wondered if the millennial migration had peaked. Both theories would undoubtedly impact our market. I will watch for indicators to confirm or reject these musings. I’d love to hear your opinions on both of these topics. I hope to see many of you at the Colorado Real Estate Journal’s 2017 Multifamily Development and Investment Conference March 16. We’ve moved locations to the Hyatt Regency Aurora-Denver Conference Center. Visit our website, www.crej.com, to see the agenda and purchase tickets for this event. Thank you to all the authors who helped make this issue such a well-rounded one. Your input is invaluable.