It’s good for potential employees that all of these companies are relocating, and it’s good to be able to relocate, but it’s also putting a strain on the Denver housing market downtown.
Denver, CO (PRWEB) August 05, 2015
The recent article on June 27, 2015 in the Denver Business Journal discusses a report that states that hundreds of American companies, including a plethora in Denver, are abandoning the suburbs and relocating their offices downtown due to the advantage of being located in a walkable downtown neighborhood. Senior-level staff surveyed in the report said that another advantage of relocation is attracting and retaining talented employees.
However, according to Denver-area real estate professional Debra Reinhard, due to the fact that mostly apartments are being built in downtown Denver, housing remains tight for employees who are relocating.
“It’s good for potential employees that all of these companies are relocating, and it’s good to be able to relocate, but it’s also putting a strain on the Denver housing market downtown,” said Debra. “This is primarily due to fewer available houses at affordable prices. People moving downtown are going to be looking for condos, but condos aren’t being built, apartments are, due to housing litigations.”
These litigations center on Senate Bill 177, which would have provided builders a measure of protection against construction-defects lawsuits. In an article in The Denver Post on April 27, 2015, Denver Mayor Michael Hancock said that with 50,000 people expected to move to Denver in the next five years, it is critical that SB-177 pass so that builders undertake the condominium projects they are currently forsaking. However, SB-177 died in committee. The mayor further stated that construction defects are severely slowing the construction of for-sale, affordable housing.
“Condo shortage will continue without reform,” said Debra. “In fact, of the more than 1,600 home starts recorded in the Denver area during the first three months of 2015, a mere 18 were condos. However, there are still some affordable areas for housing in Denver, although difficult to find.”
Debra is a Certified Negotiation Expert known for her superior customer service and ability to place her clients in the right home for them. Debra, who is a 5 Star Agent in Denver’s 5280 Magazine five years running. Her office relocated recently, and along with that, came the name change to RE/MAX Masters Millennium, which is now located at 6020 South Greenwood Plaza Boulevard, Suite 100, Greenwood Village, Colorado.
About Debra Reinhard
Debra Reinhard has been with RE/MAX since 2010. The majority of her business is done with first-time homebuyers and small commercial real estate. Debra is a Certified Residential Specialist (CRS). For more information, please call (303) 957-8329.
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